Choosing a new bank

tex92 · #1 05-26-2018, 08:45 PM

Hey guys looking for a new bank, with scotiabank right now, looking for a change. If you guys could comment the name of the bank your with that would be great! And if you feel like typing then tell me why or why not I should choose them. Thanks everyone I know this is not a normal post on this site but I didn't know where I could post to get alot of responses!

Ebrand · #2 05-26-2018, 11:04 PM

TD has been nothing but class for me.

Just signed a new mortgage with them.
Super easy.
Great online options
Some zero fee cheque accts.

Hamsnacks · #3 05-27-2018, 02:07 AM

CIBC for me.
Older woman there, once you build a relationship with them they make exceptions for you all the time. Plus no limit to withdrawing cash at the teller unless it's a ridiculous amount. And definitely the best Mobile App, very clean.

Hated TD cause they always asked about my money, wether I was depositing a check or withdrawing money. Like I worked for the Cartel or something. "Oh what's the money for, or where did you get the money from" Like B**ch! look at my account!! This is not my first check, and if it bounces I have more than enough money in my account to cover it. Just could never build a loyalty with them no matter how many times I went there. Plus hated the whole 3k limit per day, didn't matter if it was a slow day or end of day. Plus they always needed a manager approval.

Lol that's the end of my rant.

If you're just using simple banking, nothing crazy then yes I agree TD, longer hours. Bigger company. I wouldn't switch though until they have those sign up get $300 on us.

cdmc · #4 05-27-2018, 03:20 AM

Servus credit union. After 20 years with RBC we made the switch a couple years ago. Been nothing but satisfied. Mortgage, chequings, savings, rrsps, gics the works.
Rural branch but stellar service.
Just my .02

mediumrare · #5 05-27-2018, 05:47 AM

Just moved my MTG out of Scotiabank to credit union.been with Scotia for 20 yrs but they wouldn't match credit unions 5 yr.1/3 of a percent lower than Scotiabank.that adds up.funny thing is I have another MTG on a rental coming up for renewal next yr that I'll be looking at moving as well.i guess they don't need my business.and fwiw I'm NOT richer than I think!

artie · #6 05-27-2018, 06:34 AM

I find with the credit union you still get service. Was at the Bank of Montreal and they want you to do everything. They even have less tellers to p you off so you will use a machine and do the work yourself. They kept putting up the limit on my line of credit and said I was liable for any fraud. I tried many times and had meetings with a manager to get them to reduce the limit on my line of credit but they could not figure out or would not do that. So I moved on.

doorout · #7 05-27-2018, 08:47 AM

TeeDee

skidderman · #8 05-27-2018, 09:16 AM

Had a very bad experience at TD. I would not give them a nickel. Stupid people that don't know what they are doing.

The Flint&Fly Guy · #9 05-27-2018, 09:19 AM

I’m with ATB, simply because the local branch has wonderfully helpful staff and/support which has a lot of value to me!

CMichaud · #10 05-27-2018, 09:21 AM

I have tried them all. In the end I moved everything to Servus,

Not perfect but much better experience overall. Constant fee gouging of the big banks was what drove me away from them.

Of the big banks I found TD was the best for service.

I have always wondered how ATB is

Trochu · #11 05-27-2018, 09:30 AM

Quote:

Originally Posted by CMichaud

I have tried them all.

I have always wondered how ATB is

I'm confused?!?

hogie · #12 05-27-2018, 09:44 AM

ATB, I did try TD for a while but didn't like them. ATB when I went back waved many fees for switching back my mortgage.

gevarm guy · #13 05-27-2018, 10:10 AM

there all crooks...just missing the mask.

2 Tollers · #14 05-27-2018, 10:30 AM

We are not brand loyal and have switched from Credit Union to Scotia to TD base on bad experiences.

Credit Union is fine until there is a death then their approach to the management of account is absolutely terrible. After being the executor on an estate with funds in the credit union there is no way I would have anything with this group.

Scotia we had problems with pre-payments on our mortgage with the Bank losing track of the pre-payments.

We are with TD now- small business account and multiple personal accounts. We have had very good service (adjustment to personal limits) and less than satisfactory (very young people working by the book) on certain things. TD was annoying for a while with calls on investment strategies but I think they are all that way -- trying for every cent that they can get from you.

When you are checking the various banks find out -- What limits do you have to maintain to have fees waived, what are the credit card options -- travel points, no annual fee, automatic insurance levels - purchases, travel.

Twisted Canuck · #15 05-27-2018, 10:49 AM

I have LOC and business account with CIBC (love their mobile app), US and CDN chequing and LOC at TD, chequing at RBC (they are custodial bank for my investment portfolio), and mortgage at Scotia...for 3 more weeks. After 20 years of good rates on renewal, this year they decided they could bend me over on rates (as all the Big 5 do), because of the new mortgage rules and 'stress test'. Never mind I have funds to pay out my mortgage 5 times over invested, and my equity in home is 75%.

Anyway, the point is, I think they are all the same. That's why I deal with all of them, because in the past they have all pursued me to get all my business, and treated me as a 'valued customer'

and were very accommodating in general. Once they 'own' your business, they tend to lose interest in service and keeping you happy. Just my two cents. Never tried credit unions or ATB.

Dean2 · #16 05-27-2018, 12:13 PM

Worked in Banking for 35+ years. Worked for 3 majors and a regional. For the average person, not talking business, corporate or high end investing, the biggest difference in Banks is the local branch you deal with. Stability of manager and length of service, training level of staff. Rural and small town branches tend to have longer serving managers and staff.

Find a branch where the manager has been there more than a couple of years and where the is at least a couple of staff that have been there a long time. Try to get them to assign you an account manager that takes care of all of your non-teller business and get to know them. I keep my personal business at the same bank for 40 years because I have had the same Private Banking rep for over 30 years. I have referred a lot of people to her and they all still deal there too. Once she retires it is going to be a hunt for another account manager I can get along with, same bank or not.

Quality of service is about who you are dealing with, not so much the specific bank. The one thing I will say, is ATB and credit unions due tend to be more customer focused, particularly in the country branches, and tend to have longer serving staff in rural. Their managers also tend to have more authority than the large banks. Problem with credit unions is if you borrow a fair number of your neighbours may know your business if they have a local loan approval committee.

Hope this helps.

tex92 · #17 05-27-2018, 12:39 PM

Thank you everyone for all the info. Maybe I will look in to a smaller regional bank and try to stay away for the big 5 and see how that goes.

ETOWNCANUCK · #18 05-27-2018, 04:36 PM

I have used PC Financial now Simpli Financial for almost 20 years.
I have no complaints with any of their services.

A division of CIBC.

Best part is no bank fees.

Kristopher10 · #19 05-27-2018, 04:54 PM

I switched to ATB from BMO a few years ago, absolutely no regrets. BMO was terrible. The excellent and honest personal service from ATB will keep me doing business there.

ABSteroid · #20 05-27-2018, 05:05 PM

I use the online banks with no fees and higher interest rates:

PC/Simplii
Tangerine
EQBank

lone wolf · #21 05-27-2018, 05:13 PM

Quote:

Originally Posted by cdmc

Servus credit union. After 20 years with RBC we made the switch a couple years ago. Been nothing but satisfied. Mortgage, chequings, savings, rrsps, gics the works.
Rural branch but stellar service.
Just my .02

x2 ...... been very happy with them

Spidey · #22 05-27-2018, 07:58 PM

Quote:

Originally Posted by ETOWNCANUCK

I have used PC Financial now Simpli Financial for almost 20 years.
I have no complaints with any of their services.

A division of CIBC.

Best part is no bank fees.

X2 - I was concerned with the switch from PC Financial to Simplii but so far, so good. No fees and now Simplii offers free unlimited e-transfers (PC Financial used to charge $1.50 per transfer).

3blade · #23 05-27-2018, 09:12 PM

Been with TD for years. No problems including when I had to have large amounts moved around in a hurry for my house. Good app as well.

GF hates TD due to a bad experience when she was a student. Just depends on which branch and who you end up dealing with.

oldjeda · #24 05-28-2018, 09:31 PM

My only bad dealings were recently with a branch of CIBS in Calgary. My sister and I were settling the estate of a diseased aunt (as executors) and CIBS couldn't find some of the accounts. They seriously denied that the accounts existed.

We had paperwork in hand, as in recent bank statements, and they refused to acknowledge over $100,000 in lost accounts. During the 3 month struggle, we had to deal with three different contacts at this branch and eventually found not only the "lost $100,000 in GICs but also a RIF that belonged to my late uncle who had passed away years prior. They had never sent any paperwork about the RIF out at any time.

When we finally withdrew all the funds and settled the estate, we were asked why we had decided to leave.

Servus Credit union has been great for the past 15 years though.