I lost faith in TD bank

[Harbinger]

http://www.cbc.ca/news/canada/british-columbia/td-bank-employees-admit-to-breaking-law-1.4016569

"Another teller with over 20 years' experience at an Ontario TD branch said she has increased customers' overdraft protection amounts without their knowledge, and increased their TD Visa card limits on the sly — all to earn units towards her sales revenue target.

Many TD workers wrote to say they are on medical leave, suffering from anxiety and/or depression because of the constant pressure to upsell customers."

One teller on sick leave described how a manager stood behind her three times a day, pushing her to sell more.

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[Laffs]

Uh, this is surprising to people?

[Intmdtr]

Yep my wife just left TD as of last week, too many nightmares in the last few weeks.

[ZR]

Not sure any are any different or better. In Royal a couple weeks back to pick up replacement Visa card, tell try to sell me everything including the kitchen sink. Took all but yelling before he'd shut up and just give me the card.

[Laffs]

Yep my wife just left TD as of last week, too many nightmares in the last few weeks.

As a staff or as a client?


Not sure any are any different or better. In Royal a couple weeks back to pick up replacement Visa card, tell try to sell me everything including the kitchen sink. Took all but yelling before he'd shut up and just give me the card.

Sucks for everyone because odds are he doesn't want to give you the spiel but has to track and report how many times he offers these products to clients, as well as success/turnover rate.

[ZR]

^ Guaranteed your right.

[Laffs]

Well, considering I lived it, ya.

[ZR]

Roger that.

[92redragtop]

Wells Fargo.....

[Harbinger]

Its surprising to me. I knew rogers was bad but I expected banks that alreafy make trillions to have some decency

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[Ghost Rider]

I always wait till about 2am to active my Visa Cards, then call in and it's all automated, so nobody trying to sell you anything, if I called during more regular hours it was "this will take a bit to activate, let me tell you about something while I'm pretending to wait"

Call after hours...no issues lol

least in my experience :)

[Laffs]

Wells Fargo.....

Unless their staff have 0 sales goals or bonus incentives, I can't see it being wildly different


I expected banks that alreafy make trillions to have some decency

Please consider the conflicting sentiments of this statement

[92redragtop]

Unless their staff have 0 sales goals or bonus incentives, I can't see it being wildly different

Wells Fargo has been in the news every day for the past 4-5 months because of this exact behaviour. The instructions came from the CEO down through the organization. They've been hammered in the stock market and have been called to Washington to testify.

[RedSN]

Took all but yelling before he'd shut up and just give me the card.
I just keep reapeting "No, No, No, No" like Homer Simpson.

[newbiestangowner]

I always wait till about 2am to active my Visa Cards, then call in and it's all automated, so nobody trying to sell you anything, if I called during more regular hours it was "this will take a bit to activate, let me tell you about something while I'm pretending to wait"

Call after hours...no issues lol

least in my experience :)

I have to try this next time when it expires.

When I called to activate mine it was such a pain. I was polite at the beginning but it went on for 15 mins and would have gone on for longer ( the lady just wouldn't accept " no thank you" till I finally said " you know what, actually I was thinking it over don't activate that card instead cancel it I don't want it"
This was with Royal Bank.

[stangstevers]

"TORONTO — TD Bank CEO Bharat Masrani was given a 10 per cent pay bump in 2015, a year when the bank laid off staff as part of a company-wide effort to trim costs. The bank issued its management proxy circular on Tuesday, showing that Masrani was paid $9 million in total compensation."

We need a lot more "we are 99%" riots, it's getting ridiculous. I'm all for capitalism but, it's now setup that the ultra-rich make more money for creating more poor people.

[WTF]

only time TD tried to push something on me was about 1.5 years ago.....only reason I was at the counter was because the bank machine was outta service....so I had to deposit a cheque and wanted a few hundred cash

dude said - "sir...congratulations...I've been notified here that you've qualified for a $30,000 line of credit!"

I stared at him for about 5 seconds just eyeballing him....then I said - "I gotta pay that back right?"

his response was - "soo....just the deposit and the $200 cash correct?"

never been bothered since

[Harbinger]

only time TD tried to push something on me was about 1.5 years ago.....only reason I was at the counter was because the bank machine was outta service....so I had to deposit a cheque and wanted a few hundred cash

dude said - "sir...congratulations...I've been notified here that you've qualified for a $30,000 line of credit!"

I stared at him for about 5 seconds just eyeballing him....then I said - "I gotta pay that back right?"

his response was - "soo....just the deposit and the $200 cash correct?"

never been bothered since
I would have taken it if its a free line of credit. Good for emergency funds. So long as it doest make a hit on your credit rating and make sure its preapproved

[G-ForceJunkie]

Usually offered some sort of service I don't want when I see a teller at TD, but never been pressured or felt it was excessive. Been a happy TD customer for 15 years or so.

Sounds like some TD branches may have taken it too far, but it affects employees more than customers. I'm more ticked about 5 cents for bags still.

[WTF]

I would have taken it if its a free line of credit. Good for emergency funds. So long as it doest make a hit on your credit rating and make sure its preapproved

I'm a bit old school in my thinking I guess

if I want something....I save for it....then I buy it.....I might use my credit card to buy it, but I kill the balance when the bill comes in

I have emergency funds...the bank dude woulda known that

I don't give a flying fuck what my credit rating is cause I own every nut, bolt, brick, board and shingle that I possess

the day I go into the bank to borrow money may be slim and none....but if and when I do....I gotta feeling that it won't be too difficult

[NickD]

Things must have changed over the years or this is branch specific, I worked as a teller at TD for a year and was never pressured in the way discribed, and in all my ears as a TD customer I've never felt pressured to buy or increase services, a friendly reminder of your pre approved a simple no thanks and that's it. Often not told. And TD visa no issues as well (Wells Fargo and now chase that I use at work have also been great)

[Black Sheep]

I went to the bank to cash a large $ gic. Money was for a pool install. I just wanted to cash it and put it in my account so I could draw from it. Simple, right? Took me talking to 3 different people before I sat in front of the loans manager. At this point, I am a little ticked off. He asked me what the money was for. I answered, with a straight face, " I'm going on a drinking binge". He had a very puzzled look on his face. got my money transferred and left. Went to another branch and had my account transferred.

[92redragtop]

You keep money in a GIC?

[Screw]

http://www.cbc.ca/news/canada/british-columbia/td-bank-employees-admit-to-breaking-law-1.4016569

"Another teller with over 20 years' experience at an Ontario TD branch said she has increased customers' overdraft protection amounts without their knowledge, and increased their TD Visa card limits on the sly — all to earn units towards her sales revenue target.

Many TD workers wrote to say they are on medical leave, suffering from anxiety and/or depression because of the constant pressure to upsell customers."

One teller on sick leave described how a manager stood behind her three times a day, pushing her to sell more.

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Unfortunately this is becoming the norm in certain industries ...sell , upsell , sell and or be constructively dismissed !
First hand experience

[Black Sheep]

You keep money in a GIC?
Sure. Any monies that are not being used but will be within a short period get placed in a gic. Long term investments are treated differently.
Sometimes we owe taxes to the government that is not due for 6 plus months. The corp has the funds on hand and instead of paying early, we invest in a gic. Always make your money work for you. Sometimes it is a small return, but, at the end of the year it all adds up.

[92redragtop]

Sure. Any monies that are not being used but will be within a short period get placed in a gic. Long term investments are treated differently.
Sometimes we owe taxes to the government that is not due for 6 plus months. The corp has the funds on hand and instead of paying early, we invest in a gic. Always make your money work for you. Sometimes it is a small return, but, at the end of the year it all adds up.

Ah ok - business funds. Was thinking TFSA type alternative but that's only for personal.

[Black Sheep]

Ah ok - business funds. Was thinking TFSA type alternative but that's only for personal.

Gic can be within your tfsa. Tfsa can be any registered investment type (monetary)

[92redragtop]

Gic can be within your tfsa. Tfsa can be any investment type (monetary)

Yes, I use it for high yield investing to shelter the gains. Corp can't use it though right? Have to use other vehicles?

[Black Sheep]

Yes, I use it for high yield investing to shelter the gains. Corp can't use it though right? Have to use other vehicles?
Correct. Only for personnel not Corp.