TD Canada Trust Sucks

Tango01 · Post by **Tango01** » Mon Apr 18, 2005 9:20 am

Hey I'm just venting here cause this bank is run by a bunch of assholes. More details to follow

PS: What is the best bank to deal with?

Yoyoma · Post by **Yoyoma** » Mon Apr 18, 2005 9:29 am

Tango, I've dealt with CIBC, RBC, TD, Caisse Desjardins & Coast Capital in Canada. Deutsche Bank, BNP Parisbas & Credit Lyonnais abroad.

The best IMHO is TD in Canada. Structure, management, services and fees. The worst, CIBC, for the same reasons.

Deutsche Bank hands down for foreign banks!

So what happened?

Tango01 · Post by **Tango01** » Mon Apr 18, 2005 9:45 am

They are just a bunch of asswipes.

*They screw up my deposits half the times.

*My personal cheques they issued me were no good apparently it had the wrong data so my employer can't direct-deposit.

*I had to go talk to a friend who knew somebody there (3 years ago) so I can get a miserable 5,000 loan and a credit card. Otherwise they would have never given me any credit.

*Having a great record, never paying anything late and earning $1,500 month, they won't give me a second 5,000 loan, and the best part is that nobody tells me why.

* And let's not forget their high fees.

T01

gelbisch · Post by **gelbisch** » Mon Apr 18, 2005 11:37 am

The problem is, when you start switching banks 'cause one of them pissed you off, you soon run out of banks to deal with. Been there, done that!

Anyone have anything to say about credit unions?

East Coaster · Post by **East Coaster** » Mon Apr 18, 2005 12:13 pm

Tango ma boi. I'd get an EQUIFAX credit rating. I've been using TD for 7 years now and I love them. They gave me 8 grand, 5K credit card, and bailed me out when I drove that trough the roof...(well I gotta pay it back);)

The reason you may not be getting what you want is related to your credit rating. You may have a shitty rating. I'd check it out (you gotta pay for it though)

http://www.equifax.ca

PS - Gotta love their INFINITY account, 12.95 unlimited self-serv transactions! BOO YA!

lazionic · Post by **lazionic** » Mon Apr 18, 2005 12:32 pm

I like dealing with CIBC but best savings account is at INGdirect.

hazatude · Post by **hazatude** » Mon Apr 18, 2005 1:58 pm

Banks suck. I'm currently trying to get a consolidation/car load through a credit union and they are actually treating me like they want my business.

Phlyer · Post by **Phlyer** » Mon Apr 18, 2005 2:45 pm

Tango - after the umpteenth time saying "I'm mad as hell and I'm not going to take it anymore" at the bloodsucking scumbags at RBC, I switched to PC Financial.
http://www.pcfinancial.ca/index.html?referid=topNav
They charge nothing, nada, zilch for any withdrawals, checks or anything. You can also apply for a PC Mastercard with a 4.9 percent transfer rate from other cards.
Highly recommended.

Foto

cyyz · Post by **cyyz** » Mon Apr 18, 2005 2:49 pm

Fotoflyer wrote:with a 4.9 percent transfer rate from other cards.
Highly recommended.
Foto

3.9%...

cyyz · Post by **cyyz** » Mon Apr 18, 2005 2:51 pm

East Coaster wrote: The reason you may not be getting what you want is related to your credit rating. You may have a shitty rating. I'd check it out (you gotta pay for it though)

http://www.equifax.ca

You send them a snail mail letter demanding you want to see your credit score. It is free, they can not prevent you from seeing it...

You only pay for the online service which provides it for you right away, after you've answered their questions, and I think if you answer wrong they still charge you(or so I've heard)

Phlyer · Post by **Phlyer** » Mon Apr 18, 2005 3:23 pm

4.97 transfer rate actually yyz.
http://www.pcmastercard.pcfinancial.ca/ ... /index.htm
Who cares - it's a heck of a lot better than 18.9

gelbisch · Post by **gelbisch** » Mon Apr 18, 2005 4:23 pm

After hearing all the stories about how wonderful PC Financial is, I tried to switch all my banking to them. It's been nothing but a headache.

According to them, I have no credit history. Not bad credit, just no credit. Now I've had a few different bank accounts, held many credit cards and paid a few loans through to completion. I have never missed or even been late on a payment. Many trips to Loblaws, calls the folks at PC Financial and the credit bureau were useless... no one seemed to know what the problem was and no one seemed to want to help me fix it.

End of story: I ended up with a savings account mired down with restrictions up the wazoo (eg. any deposits held for TEN business days, and some severe withdrawal limits) and declined for a line of credit. I find this strange since all the other institutions I was dealing with were constanting increasing my credit limits without even asking and pre-approving me for everything under the sun. I've since managed to get SOME of the restrictions pulled from the savings account, but that was six months later and it'll be another four from now 'til this thing will actually be of any use to me. If it weren't for the no-fee thing, I wouldn't even bother. Lately I've heard a lot of other folks complaining about PC, too.

That said... once they've finally decided to ackwowledge my finanical existence, I think that it's probably still the best deal. I just wanted to point out that all is not sublime in PC paradise, as has been so often professed to me. My current bank, CIBC, requires a $1500 balance to waive their fees, which is not so easy on a pilot's salary! I don't think that that deal's even available anymore anyway... I think I was grandfathered in 'cause I used to have such an account (except they arbitrarily bumped the minimum on me). You can't win... everyone's got his hand in your pocket in this world!

As lazionic said, ING is pretty good too. The transactions are very slow so it's no good for day-to-day banking, but if you've get any extra dough lying around

it'll actually earn interest. Imagine that! Probably better off to just invest it somewhere, though.

Phlyer · Post by **Phlyer** » Mon Apr 18, 2005 4:59 pm

ING and PC both have no service period. We went with ING way back and they were totally useless.
To pay bills with PC is a pain in the butt - you have to spend some time setting it up on line for each bill.
Having said that - you get what you pay for. Or in this case, what you don't pay for.

Foto

cyyz · Post by **cyyz** » Mon Apr 18, 2005 6:41 pm

Apply for the President’s Choice Financial® MasterCard® today and get premium beneﬁts with no annual fee. PLUS transfer the balance from higher rate credit cards and loans and treat yourself to the 3.97% balance transfer rate until your balance is paid in full.2 And as you can see in the chart below, at just 3.97% on balance transfers, you could be saving yourself tons of money. Why pay more than you need to?

http://www.pcmastercard.pcfinancial.ca/ ... 7promo.htm

I hope it's a java enabled thing that just sorts you by province and gives you(Sorry) the 4.9%.. Cause I just signed up last month.. =(

But you're right, it beats 18%... =)

--

Best bank is under your pillow

ahramin · Post by **ahramin** » Mon Apr 18, 2005 7:37 pm

I deal with TD and the few times they have been a problem they were very easy to push around. And half the tellers are very attractive ladies. I found the fees very reasonable, plus with a $1000 balance there are no fees.

I like dealing with a bank that is stingy about lending money. I don't want a bank that lends money to any poor pilot that comes along so they can pay for a training bond (qualifier: I am not referring to Tango, just pilots in general). I have found that the loan guys at TD have a very restrictive set of rules to determine how much they can lend you, but at the same time are allowed to show some judgement and don't always have to follow the rules.

cyyz · Post by **cyyz** » Mon Apr 18, 2005 7:53 pm

"I don't want a bank that lends money to any poor pilot that comes along so they can pay for a training bond"

I think every lending institute should by law be forced to lend money....

ahramin · Post by **ahramin** » Mon Apr 18, 2005 8:25 pm

Uh, are you serious yyz?

w squared · Post by **w squared** » Mon Apr 18, 2005 8:47 pm

I've had pretty good luck with PC bank myself. They don't have incredible service, but at least they don't continually rip you off with service fees every time that you scratch yourself.

On the plus side, they do some cool things like mailing you free cheques any time that you call for them, and giving you free groceries when you do your banking. No, they're not perfect...but they don't expect you to pay them for keeping your money in their hands.

cyyz · Post by **cyyz** » Mon Apr 18, 2005 8:53 pm

ahramin wrote:Uh, are you serious yyz?

Yes sir...

It's just another form of discrimination if they refuse to give you a loan.

They can make any terms they want, wife, unborn/living child, etc. But, some poor people are smart, and if they could have financing for their ideas they could move up in life....

Or OSAP for example screwing "rich" kids, just because 1 parent is making XXX,XXX dollars you can't get OSAP cause they figure your parents are "obligated" to support you and the bank won't give you a loan.

Millions of stupid restrictions for a person to create a Bank/Loan/Trust/Insurance company

So a person is forced to go to the institutions and they refuse him

and if he is a loan shark or goes to a loan shark thats illegal

brilliant system

so the government loves to screw the little guy

PS. all banks stink, notice the templars were killed for it...

Isabella · Post by **Isabella** » Mon Apr 18, 2005 9:27 pm

yes! someone else who feels my pain!! I can't stand TD!! They've screwed me over so many times. The worst was they filled out an important form for me with the wrong banking information (long story) which led to me getting bad credit... and then they wouldn't do anything to help me fix it... Anyways, I was switching to Royal Bank but, like some of you have said, it seems no matter what bank you go to, you're going to have problems. Stupid banks

East Coaster · Post by **East Coaster** » Mon Apr 18, 2005 9:32 pm

GO TD GO TD GO TD!

ahahahah

Canmoron · Post by **Canmoron** » Mon Apr 18, 2005 9:34 pm

Everyone vouching for the credit unions,

Yes they are nice to deal with, have lower fees, and many share profits, but as pilots, beware of mobility. If you change cities, you are not able to change branches, you have to change credit unions. Changing credit unions is the same as changing banks, and may hurt your credit score, because you lose some financial history.

Also, if you spend a lot of time away from home you may find it difficult to find a "free" bank machine.

That said, I have had great service from Alberta Treasury Branches, especially since the province relaxed some of the rules. I also maintain accounts at RBC and TD for when I am outside of Alberta.

KAG · Post by **KAG** » Mon Apr 18, 2005 9:52 pm

Guys if your having trouble with your credit, you may have been effected by idenity theft. Seriously, check into it.

As for banks, I'm quite happy with royal bank and PC.
Once youve been a PC customer for a while you can anything, anytime over the phone.
And there savings account is pretty good to.

Cheers.

LH · Post by LH » Tue Apr 19, 2005 12:08 am

I deal with a Credit Union. Moved many times, had no problem and all records on me were respected and interchangable between CU's. I stopped using banks when the lending limit for the local branches was dropped way down and anything over a certain amount then had to be cleared by a Regional Office. The Manager knew me on a way more personal basis and some "graphite commando" at some Regional Office didn't and THEN I started to have "slow-downs" in replies back to me and started having to talk to computers and punch numbers on a telephone.

There are TWO credit reporting agencies in Canada and Equifax is but one of them. They keep records for 7 years on anything bad, BUT the other one keeps those kinds of records for 10 years. So be careful who your financial institution is dealing with because both don't do their ratings the same and operate somewhat differently. Just because Equifax says you are a good guy to give a loan to, doesn't mean that the other one will agree for a host of different reasons. Oh and by the way and this might be important to those that fly "contract" in the summer months and make some good "change".......most banks will loan you "diddley" UNLESS you can prove full-time employment.......not so with many Credit Unions. Deal with Credit Unions and you soon realize why many banks are getting real nervous of their expansion and ability to provide services that they can't compete with. I personally did all the chartered banks in Canada and some are good and some are bad, BUT none of them provided me with the feeling that they exist because of people like me. The chartered banks make a lot like me feel as though they are doing us all a favour by letting us do business with them and allowing us to keep our monies there.

gelbisch · Post by **gelbisch** » Tue Apr 19, 2005 2:18 am

LH wrote:The chartered banks make a lot like me feel as though they are doing us all a favour by letting us do business with them and allowing us to keep our monies there.

No kidding. What I get a real kick out of, as w squared mentioned, is how we get charged by the banks while they hold our money and earn more for themselves with it. Somehow, this logic escapes me. Sure, they are in business to make money and they do provide us a service, eg. I can pay all my bills without having to get off my butt, BUT, after some quick research:

RBC: $971 million profit, first quarter
BMO: $2.28 billion profit, in 2004
TD: $2.23 billion profit, in 2004

Take a ridiculous amount of money from the little guys, much?

Last year, from CIBC, I think I honestly earned about 5 CENTS in interest. What the hell is that??? And this was not with a $5.83 balance. Oh well... they've got us beat... keeping your money in shoebox under your bed isn't really viable these days...