Comments on: TD Helps http://thefinancialbrand.com/7935/td-helps/ Ideas and insights for financial marketers. Tue, 22 May 2012 18:48:57 +0000 hourly 1 http://wordpress.org/?v= By: Rachel Bailie http://thefinancialbrand.com/7935/td-helps/comment-page-1/#comment-7920 Rachel Bailie Wed, 28 Jul 2010 00:11:33 +0000 http://thefinancialbrand.com/?p=7935#comment-7920 To Whom It May Concern: Mr Tim Hockey, CEO , TD CanadaTrust Dear Mr. Hockey, I am writing to let you know that the system does not work, at least, not for me. I am a retired, single woman who has had a long history with Canada Trust, now TD Canada Trust. I have many investments with your bank, and I also have two credit cards with TD. The first was a GM Visa which I used for about 15 years until I decided to pay it off, primarily because of the exhorbitant interest rate of 19. 97 %. In the interim, I was asked several years ago if I would like to receive a new Visa card, a lovely Emerald Visa, at a very attractive rate..I remember it was just over 9 %..wow! Who wouldn't, I thought, so the deal was struck, and in due course I received my shiny new card..of course there was an annual fee of $25, but that was such a no-brainer that I accepted it on the spot. Fast forward to May, 2010, and a new world in the financial arena..storm clouds on the horizon, and cryptic messages start to appear on the monthly statements..of course, beware the Ides of March, or its equivalent. OOOh..the govnernment is raising prime interest rates, and guess what, people, we're taking away your fun too!! So, because we're all the gang that can't shoot straight, we all get smacked with the same huge increase, right ? Wrong!!! I called TD in May, when this notice first appeared, and spoke to someone (with a foreign accent) who said that not all cardholders would be affected the same way. I knew this conversation was recorded, so I said my peace and felt somewhat reassured that I would not be one of the unlucky ones to be hit with this double whammy. Silence followed, except for a tiny blip last month when my interest rate rose from 9.15 % to a mere 9.40%..no big deal..I felt assured that this was the end of it..wrong again!! Today, July 27th, I opened my latest statement, only to see an ubelievable rate increase...to 12.25%!!! What is this, Fanny Mae all over again? What the Hell is going on here? Again, I called the number, waited almost 10 minutes to speak to someone, fianlly connecting with some poor Indian girl who tried in vain to help me..what a joke this company is now. Despite my telling her that I have a similar card with CIBC..a Select Visa, with NO annual fees, and a very competitive rate of 11.50% that has NEVER changed, all she could do was offer me 2 months without interest..sorry, Mr Hockey, this will not stand, and you, sir , are MUD in my books. I will spread the word, make no mistake, that TD is NOT the place to do any business of any kind..Mine will be going to the competition, despite my many years as a Canada Trust customer, and , despite my varied investments within your walls. I have other choices to make, and, believe me, I will be making them. Should you care to inquire at all, this entire conversation from today is on tape..it went on for more than 39 minutes tonight. What a sorry end. I am disgusted with you people, and utterly disillusioned. Rachel Bailie Oshawa, Ontario July 27, 2010 To Whom It May Concern: Mr Tim Hockey, CEO , TD CanadaTrust

Dear Mr. Hockey,

I am writing to let you know that the system does not work, at least, not for me. I am a retired, single woman who has had a long history with Canada Trust, now TD Canada Trust. I have many investments with your bank, and I also have two credit cards with TD. The first was a GM Visa which I used for about 15 years until I decided to pay it off, primarily because of the exhorbitant interest rate of 19. 97 %.
In the interim, I was asked several years ago if I would like to receive a new Visa card, a lovely Emerald Visa, at a very attractive rate..I remember it was just over 9 %..wow! Who wouldn’t, I thought, so the deal was struck, and in due course I received my shiny new card..of course there was an annual fee of $25, but that was such a no-brainer that I accepted it on the spot.
Fast forward to May, 2010, and a new world in the financial arena..storm clouds on the horizon, and cryptic messages start to appear on the monthly statements..of course, beware the Ides of March, or its equivalent. OOOh..the govnernment is raising prime interest rates, and guess what, people, we’re taking away your fun too!! So, because we’re all the gang that can’t shoot straight, we all get smacked with the same huge increase, right ? Wrong!!!
I called TD in May, when this notice first appeared, and spoke to someone (with a foreign accent) who said that not all cardholders would be affected the same way. I knew this conversation was recorded, so I said my peace and felt somewhat reassured that I would not be one of the unlucky ones to be hit with this double whammy. Silence followed, except for a tiny blip last month when my interest rate rose from 9.15 % to a mere 9.40%..no big deal..I felt assured that this was the end of it..wrong again!!
Today, July 27th, I opened my latest statement, only to see an ubelievable rate increase…to 12.25%!!!
What is this, Fanny Mae all over again? What the Hell is going on here?
Again, I called the number, waited almost 10 minutes to speak to someone, fianlly connecting with some poor Indian girl who tried in vain to help me..what a joke this company is now. Despite my telling her that I have a similar card with CIBC..a Select Visa, with NO annual fees, and a very competitive rate of 11.50% that has NEVER changed, all she could do was offer me 2 months without interest..sorry, Mr Hockey, this will not stand, and you, sir , are MUD in my books. I will spread the word, make no mistake, that TD is NOT the place to do any business of any kind..Mine will be going to the competition, despite my many years as a Canada Trust customer, and , despite my varied investments within your walls. I have other choices to make, and, believe me, I will be making them.
Should you care to inquire at all, this entire conversation from today is on tape..it went on for more than 39 minutes tonight. What a sorry end.
I am disgusted with you people, and utterly disillusioned.

Rachel Bailie

Oshawa, Ontario

July 27, 2010

]]> By: Al http://thefinancialbrand.com/7935/td-helps/comment-page-1/#comment-4441 Al Thu, 04 Feb 2010 16:41:43 +0000 http://thefinancialbrand.com/?p=7935#comment-4441 TD bank is bullshit...they closed my visa card because i had late payments and they refuse to reopen it even though I paid them the amount that was late and i'm up to date now that i'm back on my feet. I have been a client for 15 years and an employee at some point for 2 years with never any problems. But this did not count...all the fees and interest and insurance paid previously did not count...I am in the investment field and because of the market correction, i was in real difficulty for 3 months and they closed my card....They will not help you if you are in difficulty but they want you to spend when you do not need credit. Wolves in cheep clothing for sure..."sit down be comfortable" so we charge you as much as we can and if you are in difficulty...we request the full amount. With all the billions of dollars in profits every quarter in profit by charging their customers...they disregard short term downturns...shame on you td bank...never will I ever deal with you again...shame on you!!! TD bank is bullshit…they closed my visa card because i had late payments and they refuse to reopen it even though I paid them the amount that was late and i’m up to date now that i’m back on my feet.
I have been a client for 15 years and an employee at some point for 2 years with never any problems. But this did not count…all the fees and interest and insurance paid previously did not count…I am in the investment field and because of the market correction, i was in real difficulty for 3 months and they closed my card….They will not help you if you are in difficulty but they want you to spend when you do not need credit. Wolves in cheep clothing for sure…”sit down be comfortable” so we charge you as much as we can and if you are in difficulty…we request the full amount. With all the billions of dollars in profits every quarter in profit by charging their customers…they disregard short term downturns…shame on you td bank…never will I ever deal with you again…shame on you!!!

]]> By: David http://thefinancialbrand.com/7935/td-helps/comment-page-1/#comment-3521 David Thu, 03 Dec 2009 22:35:44 +0000 http://thefinancialbrand.com/?p=7935#comment-3521 Project Umbrella is a PR scam to make the TD banks look good. Banks are supposed to provide this service anyway ... especially after receiving billions of government aid. You should hear my story, the TD just increased by Line of credit by one point over prime. Nice guys. You will find Project Umbrella is off limits when it impacts the TD's profits. Also lost $300,000 through TD's online trading ... through easy access to debt (loc and margin) ... I will never recover and now on food bank with a family of 3 young children. After 10 years of suffering with TD online trading, I now know I have a gambling problem (no mention of this connection in the original account service agreement)and being treated. Becareful of wolves in sheeps' clothing...that's my learning. We need to ensure this does not happen to other families. Project Umbrella is a PR scam to make the TD banks look good. Banks are supposed to provide this service anyway … especially after receiving billions of government aid.
You should hear my story, the TD just increased by Line of credit by one point over prime. Nice guys. You will find Project Umbrella is off limits when it impacts the TD’s profits. Also lost $300,000 through TD’s online trading … through easy access to debt (loc and margin) … I will never recover and now on food bank with a family of 3 young children. After 10 years of suffering with TD online trading, I now know I have a gambling problem (no mention of this connection in the original account service agreement)and being treated. Becareful of wolves in sheeps’ clothing…that’s my learning. We need to ensure this does not happen to other families.

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