I just ran out of cheques. The annoying thing about TD is that they charge for ordering cheques. In fact, they charge $35 for 50 cheques and $40 for 100 cheques. Now, there’s a lesson in marketing. I wonder which one I am going to choose, now…
When I was a naive and broke student, I forked over the $40 without blinking an eye because I didn’t know any better, but now that I am a working professional and mindful about my finances, I am outraged. It’s outrageous that they can charge so much for me to access my own money!!!
I checked out the grandfather of all money saving forums – Red Flag Deals and found this handy dandy chart comparing the top checking accounts in Canada. Look! At the bottom is my beloved TD with a minimum balance of $2,000 before they waive the $8.95 fee. And to clarify, that’s 25 transactions included – not 25 cheques included.
The Phone Call
I called three times today and spoke with three different representative who fed me the same lines. They all gave me the same sob story that they do not control the charge for cheques, it is done through a third party, so there is absolutely nothing they can do about it.
The whole time, I was treated like the “crazy” because I didn’t want to pay to access my own money. Here are the highlights of my conversations:
- We are just the middle man who connect you with your cheques. TD does not get anything from the charges for ordering cheques.
- We only waive the fee for very special clients.
- We can’t just start giving away cheques to just everybody.
- If this is the most important aspect of banking for you then switch (when I brought up that some banks don’t charge for cheques)
They all admitted they did not have the authority to waive that fee. I asked them to connect me with someone who did have authority to do so. I was told I had to come in and speak with the branch manager, and they may or may not waive the fee. When I asked if I can go to any branch, they said that I had to go to my “home” branch.
Did I mention that I opened my account in grade 7? So, my home branch is way out of the City. Like 50km away in the suburbs. With the price of gas I might as well pay the $40 fee and have the cheques sent to me!
So, let me get this straight, TD…
I can open a Mutual Fund account or direct deposit account to deposit thousands of dollars from ANY branch. But to get my $40 waived for ordering cheques, I need to drive out to my “home” branch (50km away)?! And speak with a manager who may or may not waive the fee.
Not very promising. In fact, what better way to tell your client (me) that you don’t give a rat’s ass about them or their business.
Thank you, TD
For showing me your true colours.
But, you know what? It’s your loss. If only you had a little foresight, you’d see that someone who would was willing to fight for $40, truly cares about her money. And when people care about their money, they make investments. And maybe the investments start small, but they grow. I am confident I will make multi-million dollar investments over my lifetime.
Now, I can take my money elsewhere.