The Bullshitiest of the TD Canada Trust Fee Increases

I have a bank account with TD Canada Trust, so I've just been informed of a number of fee increases they're introducing March 1, 2016. I received a similar letter from Rogers a few weeks ago, but this is about the bullshitiest of the TD Canada Trust fee increases.


If you cancel an Interac e-Transfer, you'll be charged $5. Interac e-Transfers are a digital means of emailing money, and TD Canada Trust charges $1.50 for the convenience. I'm unaware of any costs associated with cancelling one... this $5 charge smells like bullshit to me.

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Comments (18 - click here to join in!)

Jason from Sudbury

Had an account with TD and wasn't impressed. Shitty service, too many fees, so I just closed it after a couple months. I've been with RBC since I was 16, so since 98 or 99 I guess, and they've always been good to me. But then again I've heard people bitch about RBC as well.

January 31, 2016 @ 10:24 PM

Rob J

You know what sucks, Elvis?
What sucks, Mike

January 31, 2016 @ 10:32 PM


They need to raise more revenue, Mike. Don't you have sympathy for them? They only had $8.04 Billion in revenue last year. And the quarterly earnings were a mere $1.84 billion.

Those poor bastards. They need to nickel and dime their customers. Who else is going to pay those bonuses?

February 1, 2016 @ 8:55 AM

Toronto Mike Verified as the defacto Toronto Mike

What irks me about this particular charge is that we set up the transfer digitally via the site or app and we cancel it... there's no time wasted by a TD employee... they don't touch it.

It's as bad as when Ticketmaster charges me for printing my own ticket.

February 1, 2016 @ 8:58 AM


Yes, the convenience fee.

There are too many fees that cost the company $0 and act like it is a burden on them to do it. It is a BS fee and nothing else.

February 1, 2016 @ 9:27 AM


Use Tangerine. They're the best, believe me, Used to be known as Ing Direct. It's only $1.00 for an email transfer, or there is a free email transfer that is slower, but is free. No stupid fees. Get Tangerine.

February 1, 2016 @ 10:32 AM

Dawn Keibals

Paying any money to transfer $$ is #(%#ing BULLSHIRT.
It is your money and you are doing all the work..BULLSHIRT.

February 1, 2016 @ 10:53 AM


Not defending TD (nor any other Canadian financial institution) in any way:

Pretty much the only thing in the business world that has no (up front) cost is bad advice. We all know that someone had to do and get paid for, the programming, processing, security, monitoring, etc. on both ends of the transaction. Having said that, with the volumes that get processed, I can say with certainty that each transaction's cost can be measured with...wait, we don't have pennies anymore - and we do not need a nickle here. I hate the way the minimum balance to avoid service charges keeps going up. Nothing like "imprisoned" or "dead" money in your bank account. Canadians can bitch all they want about our banks (trust companies, co-ops, credit unions, etc.), but we are very fortunate to not have the fragmented, sometimes incomprehensible systems of many European countries, let alone the thousands (yes, you read that correctly - thousands) of banks in the American system.

February 1, 2016 @ 12:37 PM


It costs a lot to pay for those TD Comfort Zone seats at the (I won't mention it by its current name) SkyDome. They have to make it up somehow.

February 1, 2016 @ 1:13 PM

Neil Clarke Warren

@ NW LOVE how you don't mention their name..
ANY reference to that company from now on should be referred to as "Robbers"

February 1, 2016 @ 3:08 PM


Banks are being idiots these days...the nickel and diming continues to no end. Move your hard-earned money to PC or Tangerine.

February 1, 2016 @ 7:26 PM


x2 on Tangerine, couldn't be happier with them...bullshit free banking, just the way I like it!

February 1, 2016 @ 7:41 PM


I'll 3rd for Tangerine.

Not everything is free, but their fees are drastically lower. I gave up RBC for Tangerine years ago. Had the nerve to rack up 4 BILLION in profits that year, but feel the need to charge me $14 a month for a stupid checking account.

Tangerine or PC Financial. Cut out the TD Bullshit.

February 1, 2016 @ 7:56 PM


Good, glad more people are using Tangerine. That's wonderful

February 2, 2016 @ 9:53 AM

Rick C in Oakville

I gave up watching the fees being added, would boggle the mind. Changing an unsecured to secured line of credit a few years ago was around a couple of hundred dollars, when they held my mortgage and personal loans, took them 5 minutes to do it. At least I saved the fees in the interest savings alone.

February 3, 2016 @ 4:44 AM


PC Financial has treated me pretty well over the years, far better than the horror stories coming from friends on the 'big' banks. That said, I don't understand how it works exactly since apparently PC and CIBC are owned by the same parent.

The one thing I find goofy, an Interac e-transfer costs $1.50. Every single service I actually use is free ... so I find myself in this bizarre situation where in TYOL 2016 I'm still writing cheques to save the cash. No, $1.50 isn't a lot ... but it doesn't really save me any trouble either. Hell you can even deposit your cheques instantly with phone apps these days.

February 3, 2016 @ 10:03 PM


+1 for President's Choice. If you never need to see and teller (and really, why would you in this day and age) it is fantastic. No monthly fees and they had fee-free credit cards also.

March 5, 2016 @ 8:40 PM


Keep $5000 in your account and everything is free. It will earn at least 2.5% a year in benefits plus they are not taxable. If you make all your regular purchases on your travel credit card you will earn closer to 10% in benefits.

September 22, 2016 @ 10:54 AM

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