TD Canada Trust

TD Canada Trust (doing business as simply TD) is a commercial banking operation of the Toronto-Dominion Bank (TD) in Canada.[3] TD Canada Trust offers a range of financial services and products to more than 10 million Canadian customers through more than 1,100 branches and 2,600 ATMs.[1]

TD Canada Trust
TD
TypeDivision
IndustryFinancial services
FoundedToronto, Ontario (2000)
Headquarters
Toronto, Ontario
,
Canada
Number of locations
Approximately 1,100 branches, and 2,600 ATMs[1]
Area served
Canada
Key people
Bharat Masrani
(CEO of TD Bank Group)
ServicesBanking
Revenue
  • Increase CA$43.6 billion
  • CA$41.1 billion [2]
ParentToronto-Dominion Bank
Websitewww.td.com

In addition to the countrywide network of TD branches and ATMs in Canada, the bank has a network of mobile mortgage specialists,[4] financial planners,[5] private bankers,[6] investment advisors,[7] and portfolio managers.[8][1][3]

The current TD Canada Trust division was formed after TD's acquisition of Canada Trust in 2000. All new and most existing accounts are officially issued by TD Bank (Institution Number: 004), although Canada Trust (Institution Number: 509) remains a separate subsidiary entity, and it remains the issuer of accounts opened at that institution prior to the merger.[9][10]

Since 2012, TD has been phasing out the "Canada Trust" part of its name from its logo online, in advertisements, and on stationery.[citation needed]

HistoryEdit

 
TD Canada Trust branch in Edmonton, Alberta

Canada Trust was formerly an independent company that was founded in 1864 in London, Ontario, as Huron and Erie Savings and Loan Society.

The company was acquired by TD Bank in 2000, which adopted the new brand name "TD Bank Financial Group". Canada Trust's retail division was merged with TD's existing retail banking operations over the course of 2000-2001 to collectively form "TD Canada Trust". Canada Trust's President and CEO, W. Edmund Clark, was made President and COO of TD, and he became President and CEO of TD Bank Financial Group in 2002.

TD in the mediaEdit

Toronto-Dominion Bank has come under fire due to a series of articles published by CBC News that question its banking practices. The first article written to the Go Public portion of the CBC Business section was posted on March 10, 2017, under the title "'We do it because our jobs are at stake': TD bank employees admit to breaking the law for fear of being fired".[11]

On March 15, 2017, another article was released by CBC News that reported thousands of banking employees from the top-five banks in Canada (RBC, BMO, CIBC, TD and Scotiabank) being pressured to meet unreasonable sales targets.[12]

OperationsEdit

 
TD Canada Trust in Markham

TD Canada Trust markets itself as having longer hours than any other major bank. Since late 2007, most branches are open 8–6 Monday to Wednesday (some until 8pm), 8–8 Thursday and Friday, and 8–4 on Saturday, with some exceptions for very low-traffic branches. As of February 2011, over 300 branches are open 11–4 on Sundays. All branches are closed on most statutory holidays.

Online bankingEdit

TD customers are able to do online banking through TD's EasyWeb system. EasyWeb allows users to perform transactions, manage bills, update personal information, manage investments, and view banking histories.[13]

In 2010, TD Canada Trust launched a mobile banking app for iOS, Android and BlackBerry platforms, allowing clients to perform many of the same transactions that are available through EasyWeb online banking.[14]

In June 2012, TD Canada Trust introduced an enhanced Access Card with the new VISA Debit / Interac Flash Access Card which allows customers to use it via phone/online and at international merchants through the Visa network.[15]

ServicesEdit

TD provides over 200 different languages on phone service for customers in Canada, including English, French, Mandarin and Cantonese. Five languages (English, French, Italian, Cantonese and Portuguese) are provided on ATMs.[16][17]

See alsoEdit

ReferencesEdit

  1. ^ a b c "Welcome to TD Bank Financial Group". TD Bank Financial Group. Retrieved 2013-03-15.
  2. ^ "TD Bank Group Reports Fourth Quarter and Fiscal 2020 Results". Newswire (Press release). TD Bank Group. December 3, 2020. Retrieved 2020-12-04.
  3. ^ a b Yusufali, Sasha (2012). TD Bank Financial Group. The Canadian Encyclopedia. Archived from the original on February 20, 2014. Retrieved 2013-03-15.
  4. ^ "Mortgage Specialists". TD. Retrieved 6 August 2021.
  5. ^ "Financial Planners". TD. Retrieved 6 August 2021.
  6. ^ "Private Bankers". TD. Retrieved 6 August 2021.
  7. ^ "Investment Advisors". TD. Retrieved 6 August 2021.
  8. ^ "Portfolio Managers". TD. Retrieved 6 August 2021.
  9. ^ "About Our Accounts and Related Service" (PDF). TD Canada Trust. 1 August 2012. Retrieved 2013-03-15.[permanent dead link]
  10. ^ "Rule D4: Institution Numbers and Clearing Agengy/Representative Arrangements" (PDF). Canadian Payments Association. December 2012. Archived from the original (PDF) on 2010-12-27. Retrieved 2013-03-15.
  11. ^ "'We do it because our jobs are at stake': TD bank employees admit to breaking the law for fear of being fired". CBC News. Retrieved 19 April 2018.
  12. ^ "'We are all doing it': Employees at Canada's 5 big banks speak out about pressure to dupe customers". CBC News. Retrieved 19 April 2018.
  13. ^ "TD Online Banking: An Overview of TD Online Banking". encyclopedia.jrank.org. Retrieved 2013-03-15.
  14. ^ "Connect to TD anytime, anywhere". TD Financial Group. Retrieved 2013-03-15.[permanent dead link]
  15. ^ "Your New TD Access Card".[permanent dead link]
  16. ^ "Diverse languages for diverse needs". www.td.com. Retrieved 2017-03-23.
  17. ^ "CIBC sample cheque: everything you need to know". hardbacon.ca. Retrieved 2021-06-28.

External linksEdit