fees at TD

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knotley
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Re: fees at TD

Post by knotley »

gsp_ wrote:Noticed that last week when my father was trying to order cheques and found all options quite expensive online. Couldn't find the plan 60 on their site anymore to find out if cheques were supposed to be free. I told him to go in and make sure his account wasn't affected by these new changes before ordering from http://www.asap-cheques.com which was 1/3 of the cost. He went in to the branch and not only did they confirm he was grandfathered but ordered 50 cheques for him free.

Over 60 is gone:
http://www.moneyville.ca/article/114938 ... er-clients
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Re: fees at TD

Post by gsp_ »

You are reposting the very article that I was responding to in making that post. Here's the relevant excerpt:
The Plan 60 account, now offered only to existing customers
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Re: fees at TD

Post by Nemo2 »

gsp_ wrote:
The Plan 60 account, now offered only to existing customers
I guess if you aren't existing you really have no need for it anyway.
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Re: fees at TD

Post by 6miths »

Nemo2 wrote:
gsp_ wrote:
The Plan 60 account, now offered only to existing customers
I guess if you aren't existing you really have no need for it anyway.
+1 :rofl:
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Re: fees at TD

Post by knotley »

gsp_ wrote:
You are reposting the very article that I was responding to in making that post. Here's the relevant excerpt:
The Plan 60 account, now offered only to existing customers
In case you did not read it the first time!
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milo
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Re: fees at TD

Post by milo »

I opened my TD chequing account many years ago (> 20yrs ?), so I have the $1000 (or maybe $1500, I don't remember) balance mininum before they ding me with fees.
But when I looked at account transactions online today, I see a "STATEMENT FEE" entry on 30 Apr 2012 for $2.00
:evil:
I've never seen that fee before in previous months. And my balance is > $3000.

I checked my statement delivery method, it indicates "by mail".
Maybe that's the reason, but I was never notified.

Anyone seen this entry ?
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Re: fees at TD

Post by like_to_retire »

milo wrote:I opened my TD chequing account many years ago (> 20yrs ?), so I have the $1000 (or maybe $1500, I don't remember) balance mininum before they ding me with fees.
But when I looked at account transactions online today, I see a "STATEMENT FEE" entry on 30 Apr 2012 for $2.00
:evil:
I've never seen that fee before in previous months. And my balance is > $3000.

I checked my statement delivery method, it indicates "by mail".
Maybe that's the reason, but I was never notified.

Anyone seen this entry ?
Yeah, I also have the grandfathered $1000 minimum balance before fees account that I've had forever.

I saw the $2.00 charged for "PASSBOOK FEE" last week and went to the bank (hadn't been there in person for at least a year), and was told that TD has decided (and not told anyone) that if you have a Statement or Passbook reporting then you will be charged $2.00 a month.

The way around it is to remove either of these features and go with "ON-LINE" reporting only.

I haven't used my passbook in many years, and always use TD EasyWeb online anyway, so I had no problem switching to that to avoid the fee. I also asked to have the $2.00 returned to me that they charged, and they had no problem doing that on the spot.

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Re: fees at TD

Post by Bylo Selhi »

milo wrote:Anyone seen this entry ?
TD to charge $2 for paper statements on most accounts
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Re: fees at TD

Post by like_to_retire »

Bylo Selhi wrote:
milo wrote:Anyone seen this entry ?
TD to charge $2 for paper statements on most accounts
Yeah, I remember seeing that, and decided that since I had an old grandfathered account and was told I would never be charged any fees that I was safe. Not so.

No problem though. I like to do everything online, so I have chosen that option, but I'm under no illusion that once everyone is online, a new set of online fees will be attributed.

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Re: fees at TD

Post by pmj »

Here's the current fee structure: http://www.tdcanadatrust.com/document/P ... 080111.pdf

We transferred from that same grandfathered Preferred Chequing Account to Plan 60 last year - which was fortunate timing 'cos Plan 60 accounts are now also no longer available.
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Re: fees at TD

Post by brucecohen »

I too converted from the grandfathered account to Plan 60. Now I'm considering converting to a select plan that waives fees for a minimum $5,000 balance. The biggest driver for me is the substantial increase in their rental fee for a safe deposit box. Also, the select account comes with a US$ account and, I think, a US$ Visa card.
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Re: fees at TD

Post by Nemo2 »

brucecohen wrote: Now I'm considering converting to a select plan that waives fees for a minimum $5,000 balance.
This is what we've had since we switched to TD in 2007......IIRC a rough 'calculation' we made some time back indicated that, if we didn't maintain that balance at all, we'd have to make somewhere around 7.6%, (after taxes), p.a. on the $5k in order to pay the then applicable service charges and break even.
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Re: fees at TD

Post by Bylo Selhi »

brucecohen wrote:I too converted from the grandfathered account to Plan 60.
Alas, I turned 60 a couple of weeks after they killed Plan60. The branch told me there was nothing they could do. They'd already been asked about "back-dating" by others and were told no by HQ. The branch manager commiserated but all she could suggest was an appeal to Dr Ed. (Who on his watch as CEO of CT championed the phrase, "Thinking like a customer." How soon they forget :roll: )
Now I'm considering converting to a select plan that waives fees for a minimum $5,000 balance. The biggest driver for me is the substantial increase in their rental fee for a safe deposit box. Also, the select account comes with a US$ account and, I think, a US$ Visa card.
I have both the grandfathered Preferred account and the Select accounts. I may give up the Preferred but first I have to transfer various direct deposits/debits that are in force on that account. IMO the cost of parking $5k is more than offset by the perqs of Select, e.g. the SDB, premium credit card, deluxe auto club membership that covers both cars and both of us, US$ account and credit card, etc.

N.B. that while Select gets you free transactions at TD ATMs in Canada, (a) they still hit you with a fee at US TD ATMs and (b) since there's no way to associate a US$ account to your bank card they also hit you with FX vig when they force you to withdraw US$ cash from your CA$ account. This stings even more when they waive ATM charges on overseas ATM transactions.
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Re: fees at TD

Post by Dibs »

Bylo Selhi wrote:I have both the grandfathered Preferred account and the Select accounts.
Out of curiosity, what is different between your grandfathered Preferred and Select account and the current Select Service account offered by TD?
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Re: fees at TD

Post by Bylo Selhi »

Dibs wrote:Out of curiosity, what is different between your grandfathered Preferred
Minimum $1,000 balance. No transaction fees. No perqs. No longer available.
Select account and the current Select Service account offered by TD?
Same thing.
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Re: fees at TD

Post by par4 »

Bylo, I went for the Select acct. a couple of years ago but when I discovered they didn't include the Auto Club (which I use instead of AAA with my Gold Visa) I went back to my Gold Visa. Do you use the cash -back or travel points. ?
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Re: fees at TD

Post by Bylo Selhi »

The Select account gives you a choice of 3 premium credit cards. I have the Gold Elite Visa and it includes, among other travel-related features:
Exclusive Deluxe TD Auto Club Benefits
• Automatic membership in the Deluxe TD Auto Club to all TD Gold Elite Visa cardholders
• Unlimited Service Calls — 24 Hours a day 7 days a week
• Family Coverage — For you and your spouse and unmarried children in your household up to 22 yrs of age and any car that you or your family members drive - even if they are not cardholders
• This is a retail value of $79.00 or $118 per couple
In the event of a road emergency, or if you're planning a trip anywhere in Canada or the continental U.S. help is just a phone call away - 24 hours a day.
As for "rewards" I'd rather have 1% in cold hard cash than the opportunity to try to find available seats on a convenient flight and/or have the value of my points inflated or expired at the card sponsor's whim. AC/AP and CIBC have done both to me and I decided to not let them scam me that way any more.

Added: I notice that Select now includes, "No TD or network fee for non-TD ATM use anywhere in world (Interac network in Canada; Plus network outside of Canada)." IIRC in the past they charged the network fee on non-TD ATMs in Canada as well as on US ATMs. This feature can be handy when you're travelling in Canada, need cash and there's no TD branch/ATM nearby (or you haven't the time to look for one.)
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Re: fees at TD

Post by kcowan »

Plus fees are $3 in US/Mexico and $5 in Europe for TD. You need to check whether auto club works outside the US. TD has no affliate bank in Mexico so the ATM fees are 46 pesos. But 14000 pesos lasts a long time here.
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Re: fees at TD

Post by Bylo Selhi »

kcowan wrote:Plus fees are $3 in US/Mexico and $5 in Europe for TD.
That's not what the snippet I quoted says for US/Mexico. As for Europe I've never paid a Plus fee there.
You need to check whether auto club works outside the US.
Again that's what the snippet says too. Just US and Canada. Does CAA work outside CA/US?
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Re: fees at TD

Post by kcowan »

Bylo Selhi wrote:
You need to check whether auto club works outside the US.
Again that's what the snippet says too. Just US and Canada. Does CAA work outside CA/US?
There is auto club service in Mexico and they are an option on some credit cards issued in the US.

But the Green Angels will provide free service on any toll road in Mexico.
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Re: fees at TD

Post by flywaysuzy »

I got the 'park your $5k and choose your options' account last fall and chose the autoclub, which I actually got to use this winter, so that was good. I also chose the 1% cash back, but the travel card wasn't the kind where you are limited to fly here or there on these flights. It was the kind where you make your reservations here or there, fly or stay or bus or train and then phone in and say 'use these points instead of that purchase'. So it sounded good too. The free checks are good as is the safety deposit box. I put the $250 bonus money towards the new door on my tractor. I'm happy.

The funny bank charge came up when I went in to get a short term gic, the saleslady told me about a high interest savings account for the same rate and why wouldn't I go for that? So I agreed and she was drawing up the papers and then mentioned casually that there was a fee for taking money out of this account-even online. I said I'd go for the gic, which was no charge. She was puzzled... :roll:
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Re: fees at TD

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brucecohen wrote:I too converted from the grandfathered account to Plan 60. Now I'm considering converting to a select plan that waives fees for a minimum $5,000 balance. The biggest driver for me is the substantial increase in their rental fee for a safe deposit box. Also, the select account comes with a US$ account and, I think, a US$ Visa card.
Also just opened the new select plan due to $60 credit to Safety deposit box and TD deluxe Auto club. I still intend to use my Plan 60 account because once closed, it is gone forever - just in case for some reason down the road elect not to continue using the select account can fall back on the Plan 60.

Couple of things that I found somewhat annoying was had to phone into Visa twice as the TD Gold ($99) and US$ Visa account ($39) both charged the annual cc fee and had to get it reversed. Also in changing over the US$ savings account to the Borderless plan, got nailed the monthly s/c of $4.95 and had to call in and get this reversed also. Was advised this would not happen in future years.
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Re: fees at TD

Post by Bylo Selhi »

Okanagan wrote:Was advised this would not happen in future years.
They've been advising me of this for years—on every anniversary when I called to complain about the charges on my accounts! In recent years, however, they seem to have found a way to get their computers to honour their promises.
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Re: fees at TD

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To my disgust, I also found I had been charged a 2.00 statement fee for the preferred chequing account. I had always thought that the account would be exempt from fees, as the bank had never charged one before for this account, which I have held for probably more than 20 years. Silly me.

I hadn't realized banks charged new fees or increased old ones without first informing customers. You'd think they'd do it as a courtesy :roll:

What new fees will banks think of next? I predict a fee for every time you contact an employee for any kind of service.

As for the Select Account's car service--has anyone actually tried it? I became wary of car service when I joined an automobile association some time ago. On days when I needed a cable boost--days when the temperature had dropped to -25 or lower--I couldn't get through to the switchboard because the line was always busy. When I would eventually get through, I was told I would have a 3-hour wait. I wonder if the same situation exists with the TD Select service?
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Re: fees at TD

Post by brucecohen »

Okanagan wrote: Also just opened the new select plan due to $60 credit to Safety deposit box and TD deluxe Auto club. I still intend to use my Plan 60 account because once closed, it is gone forever - just in case for some reason down the road elect not to continue using the select account can fall back on the Plan 60.
That's what I'm doing too. Also avoids the effort needed to notify vendors on pre-authorized debits. I opened my Select account on Thursday. The TD rep pointed out that they're running a promotion that offers $250 to people who open new accounts. When I got home I noticed that the fine print says it's not open to existing customers, but I'm giving it a try anyway. I have to set up one direct payee for the new account. I've told CPP to send my monthly payment there. I also have to make two ETF payments from the new account, which I'll do when paying my Q3 income tax and HST instalments. If it works, I'll be $250 richer at the end of September and will then redirect my CPP back to my Plan 60 account.

I did not previously have a TD Visa card or US$ account.
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