# Do banks care if you pull out all your money and put it into another bank?



## moonlighting (Nov 21, 2013)

Hey, just curious about this - do the banks care if you pull out all your money and take it elsewhere?

I tried to get a loan with my bank, and they won't give it to me despite a stellar credit score. Been with them for over 20 years, got close to a 100 grand in cash sitting their saving account just rotting away cause I can't invest it (I need an extra 100grand to do that). I mean, I won't close out the account cause I understand closing accounts messes with my credit score (that evil system!!), I'd just transfer out most of it (to another bank I got an account with), and leave a dime in there.

I know I know, it's a dumb question.....................but I'm madder than hell! Are they even remotely interested in keeping their customers?? Or are they only interested in the super rich?


----------



## lonewolf (Jun 12, 2012)

Closing out an account did not know that messed with credit score. Even if it did not sure if it would matter much. A dime would never be enough to cover their fees, forget the banks go credit union


----------



## sags (May 15, 2010)

If you have 100,000 in the bank, why do you need an extra 100,000 to invest it ?

From the bank's perspective cash isn't a secure asset as collateral for a loan, because the borrower could withdraw and spend the money anytime they choose.

Leaving a bank account open with a small amount in it has no affect on credit scores..........positive or negative.


----------



## hystat (Jun 18, 2010)

moonlighting said:


> Are they even remotely interested in keeping their customers?? Or are they only interested in the super rich?


neither. They only market to new clients. Retention isn't even something they track as far as I can tell. 


I pulled all of my business (HELOC, investments, all banking) from TD after 2 decades and didn't even get a phone call.


----------



## carverman (Nov 8, 2010)

hystat said:


> neither. They only market to new clients. Retention isn't even something they track as far as I can tell.
> 
> 
> I pulled all of my business (HELOC, investments, all banking) from TD after 2 decades and didn't even get a phone call.


Well they might care if that 100k sitting in savings is suddenly removed as they would could be investing that money short term, but like mentioned, 
that money sitting in there today is not considered big money today and it cannot be guaranteed by the owner of the account to stay in there long enough
for them to invest in bank loans or mortgages, because it could be gone at any time. Therefore locked in investment is what they prefer.

Of course... if you just happen to be "Jed Clampett" of the Beverly Hillbillies with a few million in that branch...
or let's say you won the Big Lottery and deposited a few million in their branch..they might care if you switched.

Jed Clampett was always threatening to take his oil money somewhere else, 
and the branch manager (Milburn Drysdale) in that TV series would flip out if he caught on that was what could happen if Jed was actually going to do it. 

* Beverly Hillbillies TV episode "Clampett's Millions" *
Jed Clampett: You've got the money, ain't you Mr. Drysdale? 
Milburn Drysdale: Well of course, but... 
Jed Clampett: Well then go ahead and give it to her. 
Milburn Drysdale: Well all right, I'll have a check drawn up. 
Daisy Moses: Hold it right there! I don't want no check. I want my money... cash. 
Milburn Drysdale: Cash? 
Daisy Moses: Cash. 
Jed Clampett: We do favor cash. 
Milburn Drysdale: I haven't got 11 million. 
Daisy Moses: You see, I told you, he spent it! :highly_amused:


----------



## fraser (May 15, 2010)

Perhaps.

We moved our investments from CIBC several years ago. We complained at three successive semi annual meetings that we were not happy. They did nothing, service got worse. So we transferred everything to another company. We got a call after they received the transfer request asking us to reconsider. We did not reconsider. We now pay less fees and we get significantly better value and service.

So after banking with them since the early 1980's we now only really have a current account and a safety deposit box.


----------



## Rusty O'Toole (Feb 1, 2012)

They couldn't care less. It case you haven't noticed, they don't care about you at all. They just have a bunch of rules they go by. Your job is to get what you want by following the rules, or go somewhere else where you can get what you want. You can get banks to do some unbelievable things if you go by the rules. They don't have to make sense, they just have to be the rules.


----------



## james4beach (Nov 15, 2012)

It does not affect your credit score.

By all means, take out all your money. They really don't care about your money, and they don't need it.

If it were me, I'd actually make a point of it by doing something like this: do a few larger withdrawals of cash (say $10,000 to $20,000 at a time).  I like this method because it actually does stress out the branch, and they will come up with all kinds of BS reasons why they don't want to do it.

They will ask "why?" ... then you call in the manager, and explain to him why. Explain to him that you know the large withdrawals get reported to FINTRAC therefore *you want paper evidence that he understood why you are withdrawing the money*. Then you make him write a note and sign it, something like "I, (branch manager), understand that customer (your name) is demanding the cash withdrawal on (date - time) due to his dissatisfaction banking with us".

I'm serious. *Make* the manager write this note. Then make them go through the pain of counting out and giving you $20,000 in bills. Do this un-announced, and then give them hell when they refuse to give you your money back. They will try to talk you into getting a bank draft, but demand to get it *in cash*. They *must* provide your deposits on demand ... hence the term demand deposit. Do this a few times to clean out your account and I guarantee you that they will feel the pain, and remember you.

They also must report large cash transactions to FINTRAC so it's very reasonable that you request a written confirmation by a bank employee that they have understood your response to their FINTRAC question.

Another possibility is that they fill fight back hard when you demand your money back. This is when you get louder. Ask if you will have to contact the bank's ombudsman, or a financial regulator, to report that they are unwilling to comply with your right to get your money back. They will say things like, we don't keep that kind of cash on hand and you must arrange it in advance. Remind them that these are demand deposits, they must be returned upon request at any time, and then repeatedly demand your money back.

You can make quite a scene with this actually. Banks *hate* paying large cash withdrawals (because they don't keep this kind of money on hand) and you will really make the manager sweat.


----------



## james4beach (Nov 15, 2012)

Also, don't let the bank talk you down on the amount you're withdrawing. They will say things like, we don't keep 20k on hand but we can give you 5k. Say no ... I want my 20k.

If and when they are totally unable to do it, again *make* the manager write a note saying how he did not comply with your request to withdraw your own cash, sign and date it. Keep it as evidence in case you really do report it to the ombudsman/regulator. Each time you come in, wave the previous note and say ... are we going to have to go through this again?

For extra fun, do it on a Friday afternoon. They will _absolutely_ hate you, I guarantee it.

Here are ready answers you can give to the money laundering / FINTRAC questions:
- Why are you withdrawing? Because I'm dissatisfied with your service and am moving my money elsewhere.
- What are you going to do with the money? Deposit it into another bank
- Why not do a cheque or wire? They are too slow ... cash deposits are instantly settled, no waiting.
- How about a bank draft? (*) No, banks will hold them and they don't instantly settle, only cash works for that.
- Why the hurry/why instant settle? I'm so tired of banking with you that I want the transaction to happen immediately.

(*) I experienced this. I wanted to immediately move money for an investment purchase at my new bank. The old bank talked me out of a 10k cash withdrawal and gave me a bank draft instead, claiming that the receiving bank (Royal) would immediately cash it. Wrong. Royal placed a hold on the bank draft for at least one working day, which totally screwed up my money transfer. This is a good illustration of why large cash withdrawals/deposits can be very useful -- always instantly settled.

Also, a disclaimer and warning: you will be reported to FINTRAC when you do this (the government database). But if it makes you feel better, banks report all kinds of transactions to FINTRAC. Not just cash transactions over 10k, but also smaller transactions that they think are "suspicious". This is absolutely why you should get a written note from the manager acknowledging that he understands your explanation of why you're withdrawing the money. Also to help FINTRAC make sense of what you're doing, immediately go and deposit the cash at your new credit union, the same day. This way it will be very clear you are transporting from one bank to another, and not hiding it. Additionally... don't do any of this if you have a criminal record or any past trouble with the law or major trouble with police. The government could misconstrue your request for your own money as some kind of criminal activity.


----------



## Oldroe (Sep 18, 2009)

And don't ever go into there office, stand at the counter the more people behind you the better.

Bank mangers and staff just cringe at a scene.


----------



## marina628 (Dec 14, 2010)

FYI if you give the bank a letter in writing that you want $100,000 in cash ,they can ask for 3-5 days notice but will provide this to you but generally most people would be nervous about carrying that amount of cash.I worked for BMO in 1986 and we had a customer who wanted $286,000 in cash ,we thought she was in danger or going to pay some thud maybe.I remember the bank manager refusing her and she went off her rocker ,we had to complied and a few days later she was back.She wanted to physically take the money from our branch to another bank in same mall so our manager and the scotiabank manager walked through the mall with the security for her to physically make the deposit .It was just something she always wanted to do I guess.Anything over 10k is beyond my comfort level and that would be 5k for me and 5k for my husband when we go to Vegas.


----------



## uptoolate (Oct 9, 2011)

hystat said:


> neither. They only market to new clients. Retention isn't even something they track as far as I can tell.


This is my experience. Canadian banks are just too big to care these days. I have noticed a change over even the last 15-20 years but I think that there has been a dramatic change that happened through the 70s and 80s.


----------



## carverman (Nov 8, 2010)

Rusty O'Toole said:


> They couldn't care less. It case you haven't noticed, *they don't care about you at all.* They just have a bunch of rules they go by. Your job is to get what you want by following the rules, or go somewhere else where you can get what you want. You can get banks to do some unbelievable things if you go by the rules. They don't have to make sense, they just have to be the rules.


They do care, if you have borrowed money from them and paying them interest.


----------



## carverman (Nov 8, 2010)

marina628 said:


> FYI if you give the bank a letter in writing that you want $100,000 in cash ,they can ask for 3-5 days notice but will provide this to you but generally most people would be nervous about carrying that amount of cash.I worked for BMO in 1986 and *we had a customer who wanted $286,000 in cash* ,we thought she was in danger or going to pay some thud maybe.
> I remember the bank manager refusing her and* she went off her rocker* ,we had to complied and a few days later she was back.She wanted to physically take the money from our branch to another bank in same mall so our manager and the scotiabank manager walked through the mall with the security for her to physically make the deposit .It was just something she always wanted to do I guess.


Hmmm..reminds me of the Beverly Hillbillies and "Granny" wanting to take her money out of Mr Drysdale's bank in CASH. 


Seems that the lady, that was "off her rocker"..wanted to see her money in 20s, 50s and 100 dollar bills..that a lot of bills..good thing she didn't ask for it in loonies.:biggrin:
FYI: $286,000 in 100 bills = 2,860 pile of bills 
$286,000 in $50 bills = 5,720 bills to the pile
$286,000 in $20 bills = 14,300 bills to the pile...

and... she probably wanted to count each bill too to make sure she wasn't "gyped" by the bank :biggrin:

Imagine trying to count that kind of cash with the new polymer bills that stick together? :confusion:

$50 x 5,720 ..1, 2, 3, 4 .. 3,567, 3568 ...smart phone rings...where was I? ..lost count..start over..

ok ...$50 x 5,720 ..1, 2, 3, 4 .. 5500, 5501..whoops some stuck together on me.....lost count..start over again.

But then, there is something to be said about cash...otherwise it's a bunch of computer numbers and harder to realize of how much you have.

$286,000,xx in your account is not the same realization of how rich you are as $14,300 in $20 bills...:biggrin:


----------



## Beaver101 (Nov 14, 2011)

carverman said:


> ...
> 
> and... she probably wanted to count each bill too to make sure she wasn't "gyped" by the bank :biggrin:
> 
> ...


 ... or to verify for the rest of us that the banks do have that kind of tangible cash on hand and not just some bitcoins concept. 

I don't think counting "individual" bills is a problem since the banks do have electronic bills counter - how long would it take to count $286K? She shouldn't have to worry about being gyped as much as the banks doesn't overpaid with those sticky polymer bills. Afterall it's her money. Now, transporting those stacks out of the bank is another story.


----------



## cainvest (May 1, 2013)

moonlighting said:


> Hey, just curious about this - do the banks care if you pull out all your money and take it elsewhere?
> 
> I tried to get a loan with my bank, and they won't give it to me despite a stellar credit score. Been with them for over 20 years, got close to a 100 grand in cash sitting their saving account just rotting away cause I can't invest it (I need an extra 100grand to do that). I mean, I won't close out the account cause I understand closing accounts messes with my credit score (that evil system!!), I'd just transfer out most of it (to another bank I got an account with), and leave a dime in there.


Might want to try getting your loan at other banks before you leave. Where are you going to put your money if they all refuse you the loan?


----------



## carverman (Nov 8, 2010)

Beaver101 said:


> ... or to verify for the rest of us that the banks do have that kind of tangible cash on hand and not just some bitcoins concept.
> 
> I don't think counting "individual" bills is a problem since the banks do have electronic bills counter - how long would it take to count $286K? She shouldn't have to worry about being gyped as much as the banks doesn't overpaid with those sticky polymer bills. Afterall it's her money. Now, transporting those stacks out of the bank is another story.


Yes, it's her money. 

Obviously the lady was not pleased with the bank to take her money and deposit it elsewhere. She could have done a nasty to the branch by taking out $1000 each day for 286 days (thats 9 and a half months), and have the branch manager walk her over each time to the other bank. 

Now if you were in the same boat, would you trust the banks bill counter and just take the stack of bills to the other bank?
which would count the bills again before depositing them. 

If there was a discrepancy in the count, she might have some trouble going back to the branch and telling them that she was short changed.


----------



## Beaver101 (Nov 14, 2011)

^ At this point, serves the bank if she pulled a nasty or two on them. But please keep in mind she is a senior (and aren't seniors generally nasty? :biggrin: j/k of course) and is used to the old way of having the bills in her hand. 

If it was me - I would have asked for a bank draft and ask the bank to cover its fee and at the same time, tell the bank manager off. No, I'm not a senior - well not yet. Problem solved.


----------



## carverman (Nov 8, 2010)

Beaver101 said:


> If it was me - I would have asked for a bank draft and ask the bank to cover its fee and at the same time, tell the bank manager off.
> 
> *No, I'm not a senior - well not yet.* Problem solved.


Well the years catch up fast...it wasn't that long ago I was in my early 20s...now "I'm just a dirty old man.":biggrin:

BTW..there is a song from the 70s from folksinger Valdy. Of course you don't remember him..right?

"An old man stood on the corner and watched some young 
folks come his way.They had youthful smilin faces, 
Prompted that old man to say, 'Howdy, kids. How ya been 
doin'? Geez it sure is a hell of a day.' 

They just stared, looked him up and down and walked on along the way.
The old man shook his head passed his fingers thru hair so gray.
As those kids walked down the street, I thought I heard the old man say.....

I've been around for 80 summers, some were winners and some 
were bummmers, I've loved'em all. Once I was young and 
full of fun like you, I had a million dreams and some came true, you can't win em all.

*chorus.......*
Now I'm old and tired, bent and busted, gray and wrinkled and I can't be trusted....just a dirty old man.
as I look back on the younger years, you shared your hopes and you shared your fears, Yes I made that scene.

I think Neil Young has a song by the same title...why are there so many artists have recorded this song?

The "Stones" are getting up there too...they had a STEEL WHEELS TOUR a few years back...probably soon it will be the STEEL WHEELCHAIR TOUR...LOL!:biggrin:

Better insert some obligatory content here: how much interest would the senior lose if she withdrew $286,000?


----------



## james4beach (Nov 15, 2012)

Personally I consider $20,000 in cash (bills) a reasonable number. I wouldn't travel very far with it, but for withdrawing at one bank and then quickly depositing it at another -- absolutely! I _would_ be mindful of who in the bank sees you take the bills, and would not do this if I saw anyone unsavoury around, and I'd do it in daylight.

Back around 1985, an amount like $5,000 in cash would not be a crazy withdrawal. Well let's inflation adjust that to today's dollars ... 5k x (1.04)^30 = 16k

So in my opinion a 20k cash withdrawal is quite normal, it's approximately what a 5k withdrawal was in 1985


----------



## OurBigFatWallet (Jan 20, 2014)

Last year when I bought a vehicle I took out $28k cash from the bank. They weren't able to provide it at first so I had to come back a week later. When I took it out the manager "casually" asked what it was for as he had to sign the slip the teller created. No problem there as it was genuinely for a vehicle and I told him so. I didn't close the account though and it wasn't related to a loan. 

Big banks don't care about keeping their current customers happy. They care about growing their business by gaining new customers. This is why I routinely move money around to different banks to take advantage of whatever signup offer they have for new customers. The latest one I did was a couple months ago and I'll net about $900 from it. It works both ways, big banks don't care about their customers so I just go to whoever has the best offer and have zero loyalty.


----------



## peterk (May 16, 2010)

Wow, a bank can't come up with 20-30k in cash on the spot? What the hell? I assumed that they had a couple million at least back in the vault.


----------



## MrMatt (Dec 21, 2011)

james4beach said:


> Also, don't let the bank talk you down on the amount you're withdrawing. They will say things like, we don't keep 20k on hand but we can give you 5k. Say no ... I want my 20k.
> 
> If and when they are totally unable to do it, again *make* the manager write a note saying how he did not comply with your request to withdraw your own cash, sign and date it. Keep it as evidence in case you really do report it to the ombudsman/regulator. Each time you come in, wave the previous note and say ... are we going to have to go through this again?
> 
> ...


If I was the manager I'd advise you of the bank policy on maximum withdrawals and advise you that you would get the $x that is available. 
I wouldn't give you every last dollar at the bank, there is no regulation that says I must.
Nor would I write silly little letters for you, really why would I? It only puts me in a more difficult position for no possible gain.

If you continued to insist, I'd invite you to leave, if/when you became a nuisance I'd elevate it to demanding you leave the premises. 

Realistically if you want a large amount of cash, ask a few days in advance and they'll easily accommodate it, they don't actually have massive amounts of physical cash sitting around at the bank, it's to their advantage to minimize the float.


----------



## OurBigFatWallet (Jan 20, 2014)

peterk said:


> Wow, a bank can't come up with 20-30k in cash on the spot? What the hell? I assumed that they had a couple million at least back in the vault.


I assumed so too and was surprised. He mentioned since it was a smaller branch they didn't have as much as the bigger branches but still I thought they all had at least $100k minimum - they do have a vault I noticed


----------



## fraser (May 15, 2010)

It is unclear to me exactly why anyone would insist on a cash withdrawal in order to close an account with a large balance and redeposit it in anther institution. Isn't that just a tad silly and slightly risky to carry a large sum of cash? Ego issue?


----------



## marina628 (Dec 14, 2010)

In 1986 we had $250,000 cash in main vault and tellers had on average about 20k in each tray including drop safes ,money always coming in and out and rarely did we have to touch that main treasury of $250,000 unless some high cash withdraws happen.


----------



## birdman (Feb 12, 2013)

Also, the $250,000. or thereabouts would consist of $1, 2, 5, 10, 20, 50, and 100. dollar bills. It was a huge block of money when stacked up. The number of 50. and 100's s were relatively small compared to the other denominations. I remember it well as I was an auditor for a few years (way, way back) and we had to count it all by hand to verify the assets of the branch. Took hours and hours on the first night. While inflation would seem create a need for more cash, electronic banking probably reduces the requirement.


----------



## gardner (Feb 13, 2014)

A Stephen Leacock classic on this subject...

http://www.online-literature.com/stephen-leacock/literary-lapses/1/


----------



## Plugging Along (Jan 3, 2011)

I had a similar situation happen with my previous bank. They really screwed up and I was mad, so ended up closing down my account. 

The teller doesn't care. The bank manager attempted to give me a token compensation for hair major screw up. In the end I took all my money out, closed out all accounts, including the credit card. The only ones that called me were the ones trying to give me a loan.

I also wanted to take out the cash in principle, but then realized it doesn't serve any purpose. Most banks don't have that much cash on hand, and if you read the fine print on some of the contracts there is a line in mine that said that for amounts over $10k a day or two notice had to be provided. I didn't like the idea of people knowing that I would be coming and leaving with that much cash. 

On a side note, my elderly was just mugged outside of the BANK DOORS, less, than 4 feet from the outside door, just walking to her that was parked in the first stall (handicapped). She wasn't taking out large amounts of money >$3 k. Someone just happened to be there just as she was opening the door, grabbed her purse and ran into a get away car. Made out with all her Iid, ban statements and cash. The bank called the police, helped her, looked at the servalliece footage, and nothing. The police did not think it was targeted but rather just those thieves took a chance. 

My thought is, is there a really good reason to take out all that money in cash? It may feel good at first, however, on the very unlikely chance some happens, will you feel so good. I would take a bank draft and tell them exactly why you are leaving, and move on.


----------



## DayTek (Sep 26, 2013)

I was a bank teller for 8 years. It was hard leaving some of the regular clients I served because I cared a great deal for them, but some of the attitudes in this thread are exactly why I left retail banking (I’m in administration with our investment division now).

I will say that, yes, banks are all about rules – This is NOT a bad thing. A good chunk of my banking career has been about following and consistently learning new rules. Rules _protect_ the _client_. Rules _protect_ the _bank_. 

It constantly baffles me how some people think that the big bad banks are always out to get them. How they feel entitled because they chose to store their money at a place of business, not under their mattress. Banks are _not_ a charity, they are a business. 

How mature is it really to inconvenience employees for the sake of not getting what you feel entitled too? For not liking their rules? Every business has rules. And I would hope…No, I would *EXPECT* that the leash is a lot shorter when it comes to the rules of dealing with people’s money. 

I’m sorry to get a little heated, but this is personal to me as an employee. I worked (and continue to work) my tail off to give client’s the best possible experience – After all, they have given me a job. I also have worked with many great colleagues over the years who were dedicated to their clients. 

Yes, we have financial goals that need to be met as a business. But try to not stereotype all financial institution employees into this category of “not caring”. 

There’s a saying: “If you constantly feel like you’re not getting good service, maybe the problem isn’t the one who is serving you…” Just something to think about.


----------



## Rusty O'Toole (Feb 1, 2012)

Daytek you have a point. The tellers I have dealt with have been about the nicest group of any business or store I have ever been in. Especially Scotia and RBC. CIBC and B of Montreal not so much.

It is the crazy rules and policies cooked up by the higher ups I have a problem with. Always and without exception, they are for the profit of the bank. And if they can create fifty cents worth of profit for themselves, and it costs $1000 worth of inconvenience to the customer, 50 cents X a million customers and no downside is all they see.


----------



## Rusty O'Toole (Feb 1, 2012)

peterk said:


> Wow, a bank can't come up with 20-30k in cash on the spot? What the hell? I assumed that they had a couple million at least back in the vault.


They invested it all in Greek bonds.


----------



## james4beach (Nov 15, 2012)

Ignoring for a moment that the banks are heavily supported by the central bank ... we (mostly) live in a capitalist system and we have choice who to bank with.

I've dealt with many banks and branches over the years and there is definitely a different in quality of service between branches and institutions. I think it's important that you vote with your wallet. Don't tolerate inadequate service. Consider switching to a credit union, too.


----------



## hystat (Jun 18, 2010)

DayTek said:


> It constantly baffles me how some people think that the big bad banks are always out to get them. How they feel entitled because they chose to store their money at a place of business, not under their mattress. Banks are _not_ a charity, they are a business.


In my case, I simply asked them to move an investment from one thing to another. I had confirmation in writing and then the idiot left for vacation and didn't do it. By my next statement I had lost about $10K. 

Sorry if you think I shoulda thanked them for the screwing and asked for another. 

I got no apology or any concern whatsoever before, during or after taking all my business elsewhere. How anyone can defend that, I dunno.


----------



## MrMatt (Dec 21, 2011)

hystat said:


> In my case, I simply asked them to move an investment from one thing to another. I had confirmation in writing and then the idiot left for vacation and didn't do it. By my next statement I had lost about $10K.
> 
> Sorry if you think I shoulda thanked them for the screwing and asked for another.
> 
> I got no apology or any concern whatsoever before, during or after taking all my business elsewhere. How anyone can defend that, I dunno.


If they provide a written confirmation on something they didn't do, for $10k, I'd sue.


----------



## carverman (Nov 8, 2010)

hystat said:


> In my case, I simply asked them to move an investment from one thing to another. I had confirmation in writing and then the idiot left for vacation and didn't do it. By my next statement I had lost about $10K.


What kind of investment did they/he not move for you?
and 
Was that actual money you lost..... or potential investment money that your money may have made ..provided the bank moved what you asked them to?


----------



## moonlighting (Nov 21, 2013)

sags said:


> If you have 100,000 in the bank, why do you need an extra 100,000 to invest it ?
> 
> I'm trying to buy a house - $100,000 deposit, i need a loan for that much or more for the rest of a house


----------



## GPM (Jan 23, 2015)

james4beach said:


> Ignoring for a moment that the banks are heavily supported by the central bank ... we (mostly) live in a capitalist system and we have choice who to bank with.
> 
> I've dealt with many banks and branches over the years and there is definitely a different in quality of service between branches and institutions. I think it's important that you vote with your wallet. Don't tolerate inadequate service. Consider switching to a credit union, too.


I switched to a credit union. Love it. Smaller, better, friendly service, free personal chequing accounts, (without money sitting idle in the chequing account to keep it free), very low fee business accounts, decent savings account rates. It was like banking with ING and Presidents Choice when they first started, except branches. The best thing is there is no nickle and dimeing. I won't darken a banks doorsteps again.


----------



## GreenAvenue (Dec 28, 2011)

GPM said:


> I switched to a credit union. Love it. Smaller, better, friendly service, free personal chequing accounts,



I was just going to write this! 
I left TD just a month ago, never got a call or anything. They really don't care. I also wonder what the point of taking out a large amount of $$$ is to piss off the personell or the bank manager. They are only the product of their company. Save yourself a lot of trouble and think of yourself, move your money over and live happy.


----------



## GreenAvenue (Dec 28, 2011)

... I have to say this though: I twittered negatively about TD in favour of Questrade. I know this has nothing to do with bank accounts but THAT TD didn't like. And I did get a telephone call within 2 hours from TD.


----------



## Beaver101 (Nov 14, 2011)

GreenAvenue said:


> ... I have to say this though: I twittered negatively about TD in favour of Questrade. I know this has nothing to do with bank accounts but THAT TD didn't like. *And I did get a telephone call within 2 hours from TD*.


 ... and so? did they apologize?, made efforts to retain you? or threaten to sue you for bad mouthing them for their crumpy service?


----------



## marina628 (Dec 14, 2010)

Probably 10 years ago I had an employee of TD come to my home for me to sign some docs ,the level of service was fantastic , now they won't even let my husband bring docs home for me to sign even though they have our business for 15 years that I can recall. Back longer than that when I got my insurance settlement a banker from CIBC came to our home ,brought me new visa cards set us up to invest my settlement etc .About two years ago when i got 7 figures go into my business acct i had asked for us to get a preferred interest rate on our visa card for biz and that was the last time i asked them for anything in branch .


----------



## marina628 (Dec 14, 2010)

hystat said:


> In my case, I simply asked them to move an investment from one thing to another. I had confirmation in writing and then the idiot left for vacation and didn't do it. By my next statement I had lost about $10K.
> 
> Sorry if you think I shoulda thanked them for the screwing and asked for another.
> 
> I got no apology or any concern whatsoever before, during or after taking all my business elsewhere. How anyone can defend that, I dunno.


Something similar happened to me at TD but the manager made adjustments and paid me a rate based on the date the transaction should have been done ,it was 1.5 on a significant amount of US money that they had been instructed to convert to CAD for us.We were leaving on a trip before the funds hit our USD acct and had no way to do it ourselves.


----------

