fees at TD

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Re: fees at TD

Postby Bylo Selhi » 22 May 2012 08:48

skepticus wrote: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:
They did, both on EasyWeb (via Messages) and by snail mail for accounts that still get paper statements.

What new fees will banks think of next?
It's not just banks. Both Bhell and Robbers now charge for paper statements. It costs them money to print them and mail them. Why should the rest of us have to pay for the idiosyncrasies of people who insist on living in the last century? ;)

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?
We've called on the TD Auto Club twice for emergency service. Neither call was during bad weather. I'd imagine all auto clubs, towing companies, etc. are swamped in those situations, including CAA. (IIRC the traffic report on CBC Radio even announces average CAA delays on bad weather days, at least in GTA.)

In both cases TDAC answered promptly and dispatched a service truck quickly. In both cases they phoned us afterwards to follow up and ensure we were satisfied with the service. TDAC has a call/dispatch centre but doesn't have its own trucks. They contract out to local towing/service operators. In both cases ours was in K-W so I can't comment on how this works from coast to coast.

That said, I've had bad experiences with CAA. I stopped our CAA membership years ago because of that. So to get "free" auto club service in a Select account that I would have in any case is a nice bonus.
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Re: fees at TD

Postby pmj » 22 May 2012 12:43

Bylo Selhi wrote:We've called on the TD Auto Club twice for emergency service. Neither call was during bad weather. I'd imagine all auto clubs, towing companies, etc. are swamped in those situations, including CAA. (IIRC the traffic report on CBC Radio even announces average CAA delays on bad weather days, at least in GTA.)

In both cases TDAC answered promptly and dispatched a service truck quickly. In both cases they phoned us afterwards to follow up and ensure we were satisfied with the service. TDAC has a call/dispatch centre but doesn't have its own trucks. They contract out to local towing/service operators. In both cases ours was in K-W so I can't comment on how this works from coast to coast.

My experience with TDAC is similar. TDAC also covers one's spouse under the same account without an extra charge. CAA's fees are not public, and they vary from year to year depending on whatever.
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Re: fees at TD

Postby flywaysuzy » 22 May 2012 13:51

The TD autoclub also covers any kids still living at home and driving. I called it in the winter when it was pretty icy and got through right away. The lady at the bank said she used it in Alberta when she was towing a stock trailer and there was no charge for the trailer!

Don't forget your safety deposit box too!
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Re: fees at TD

Postby brucecohen » 22 May 2012 14:07

Does TD Auto Club have any discount arrangements with hotels and car rental companies? That's been the only tangible value I've had from years of CAA membership -- never needed roadside service.
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Re: fees at TD

Postby AltaRed » 22 May 2012 14:32

brucecohen wrote:Does TD Auto Club have any discount arrangements with hotels and car rental companies? That's been the only tangible value I've had from years of CAA membership -- never needed roadside service.

Likewise. My CAA pays for itself each year just on the hotel discounts alone. Never mind free maps for anywhere I wish to go, etc, etc. I actually don't buy CAA for the road service though I consider it insurance value for a flat or a jump start or similar (which I've never used either).
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Re: fees at TD

Postby Bylo Selhi » 22 May 2012 15:09

brucecohen wrote:Does TD Auto Club have any discount arrangements with hotels and car rental companies? That's been the only tangible value I've had from years of CAA membership -- never needed roadside service.

TDAC doesn't offer discounts but I believe the Select service plan does (or the Visa cards it covers do.) Full details on TDAC here. It seems quite extensive for an auto club but I haven't done a point-by-point comparison with CAA.

These days most hotels offer a senior's discount based on age or maybe CARP/AARP membership. For example, Best Western's discount criterion is age 55 OR AARP membership. Usually it's easy to score decent discounts on car rentals by Googling around, e.g. https://www.google.ca/search?q=hertz+discount+code.
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Re: fees at TD

Postby Arby » 22 May 2012 21:28

If you don't want or need CAA emergency road service, they have a basic membership (called A La Carte membership) for $20/year. They don't advertise this membership, so you have to call. You get a CAA membership card which gives access to hotel discounts, as well as free maps, tour books, etc. I've been getting the CAA basic membership for the past few years, since I get emergency road service with TD Auto Club.
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Re: fees at TD

Postby sunkenradish » 22 May 2012 21:40

Howdy all. New here - found the forum via Bogleheads.

I posted a related thread over on Canadian Money Forum: http://canadianmoneyforum.com/showthrea ... -option%29

Is there any reason you wouldn't split your accounts between institutions to avoid fees?
I'm using TD Waterhouse for investment grade accounts, linked with a no-fee savings account at TD Canada Trust. The savings account is the "gateway" for moving money out of TD Waterhouse, as needed.

For chequing, PC Financial.

For emergency funds, Canadian Direct Financial's KeyReach cash TFSA paying 3% interest with a no-fee savings account for accessing the money via ATM (HSBC and Alterna ATMs are on the CDF network, apparently)

I love the service at TD but I'm a fee-avoidance zealot so I live with the added complexity of splitting accounts between institutions.

Best regards.
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Re: fees at TD

Postby brucecohen » 22 May 2012 22:03

Arby wrote:If you don't want or need CAA emergency road service, they have a basic membership (called A La Carte membership) for $20/year. They don't advertise this membership, so you have to call. You get a CAA membership card which gives access to hotel discounts, as well as free maps, tour books, etc. I've been getting the CAA basic membership for the past few years, since I get emergency road service with TD Auto Club.

Great info! :thumbsup: I think I'll cancel CAA just before renewal, go naked per Bylo's info and then go for CAA Basic if I find I can't otherwise get a discount at a hotel where I want to stay.
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Re: fees at TD

Postby Bylo Selhi » 22 May 2012 22:05

brucecohen wrote:go naked per Bylo's info

Where did I suggest that you show up at the reservations desk naked? :evil:
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Re: fees at TD

Postby milo » 27 May 2012 23:02

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 ?


Just to let you know, my fee was reversed. I asked the teller to do so.
Also this month, I am particularly unlucky.
My TDBANK USA (TDBank North) chequing account was charged a fee of $15 for dipping under $100! I forgot about the $100 limit and went under.
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Re: fees at TD

Postby Bylo Selhi » 31 May 2012 09:04

Re Select Service, now is a good time to switch:

Image

Whatever your reason for choosing us, we appreciate your business. To show it, we're offering new customers a welcome bonus of up to $250 when you open a new Select Service, Infinity or Value Plus chequing account. Plus, maintaining a minimum monthly balance can mean no monthly account fee.

1. By July 20, 2012: Open one a new Select Service, Infinity or Value Plus chequing account.
2. By August 31, 2012: Complete one recurring and eligible regular Direct Deposit
3. By August 31, 2012: Complete two Bill Payments (via Pre-Authorized Debit or EasyWeb – includes Mobile App) OR sign up for a new Pre-Authorized Transfer Service
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Re: fees at TD

Postby like_to_retire » 21 Jun 2012 13:26

Bylo Selhi wrote: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.

Hopefully, they continue to honour the grandfathering on my account.

TD stops free banking for new seniors.

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