Why TD Bank Is Losing A Big Customer After 30 Years

As an added bonus a branch was opened by Canada Trust in my own neighbourhood. I guessed I could bid farewell to the Big Five After I had a branch with hours.

Given their size and clout, it was inevitable that my own bank would be gobbled by these mega-banks. And it came to pass which Toronto-Dominion Bank purchased Canada Trust, giving birth to what we understand as TD Canada Trust.

I had been sceptical but, fortunately for me and countless other people were clever enough to comprehend the strengths of Canada Trust and integrate them into the branches. They were smart enough to create the pioneering leader of Canada Trust Ed Clark the bank’s CEO.

But it seems as though my initial scepticism was justified, after all, only 15 years after the actuality. Since Ed Clark’s retirement in 2014, cracks have started to appear.

Is TD Bank – another money-grubbing member of Canada’s Big Five.

I discovered my neighbourhood branch went to shut, last month. No motive was given, only a letter from the email that ensured me that I would like the”same fantastic support” in a place nearly three and a half kilometres away from my property.

I understand I am doubtful the service I get in the branch is going to be the same and the workers at my branch aren’t pleased about the move. I figured I could live with this shift. Regardless of the annoyance to personally, the hours of the branch are generous and most of the team at my branch is likely to make the move.

Also, Check Td Bank Routing Number Details.

However, the news indicates that I might need to look elsewhere to do my banking. CBC News lately reported that TD tellers are under intense pressure to market customers services and products that they do not require. The tellers need to satisfy quotas that have tripled in the previous 3 decades, quarterly revenue quotas.

In the past while, I must admit that I experienced this trend even though sales pitches’ cases have, so far been few and far between. I do know of a minimum of one worker who quit due to the pressure in the management.

It is difficult to understand TD would hazard its goodwill using its client base to squeeze a few more shekels. After all, this really is the lender that only made record earnings of $2.5 billion in its last financial quarter, up 14 per cent from one year ago.

What I am seeing is that the disappearance of lots of the facets that attracted me into Canada Trust. No more will I have a bank branch in my area and no more will I have.

I guess I must have seen this movement coming after my bank began phasing the words”Canada Trust” from its name. You may view it disappearing from stationery, the lender’s logo and advertisements. Before long is TD Bank another money-grubbing member of Canada’s Big Five.

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