As my regular readers know, I complain about TD very often, since they are my bank of choice (for now), and I am also a shareholder, and I must again pull out this topic.
Today I received confirmation from TD Waterhouse that my new RRSP account had in fact been created (I actually did this last week in a TD Branch). The documentation included with the confirmation package said, I needed to send in proof of identification, if I hadn’t already  to activate the account (I had to re-read that to figure it out), which annoyed me, but I let that one slide (I had my license copied enough times in the branch). So I am assuming my account has been set up (this might bite me later).
I had an epiphany that I had not seen the account appear on my TD Web Access page, but figured, maybe I hadn’t noticed, so I logged in, but NO the account was not on my account list, and that is when the bottom dropped out of my patience.
I spent over an hour setting up accounts and now they don’t show up on the web access page? I had actually asked to ensure I had access to the E-Funds (that the Canadian Capitalist uses in his Sleepy Portfolio) that are ONLY available through the web, yet no sign of the account, on the Web Portal.
I then had to call into TD Waterhouse and spend another 25 minutes getting this 1 account added to my web access. At the end of it I was livid that I had to spend that much more time to get access to an account that was obviously set up to be web viewable.
The problem seems to be that TD’s “computer systems” for building accounts between their various “parts” (TD, TD Waterhouse, TD Mutual Funds, TD Credit, TD Visa, etc.,) don’t seem to talk much, and they all use their own darn forms and ways to build new vehicles for their clients. In this day and age, this is ludicrous, but I have heard that TD is looking at revamping this in the next 10 years.
If anyone from TD is reading this, please feel free to pass on to your leaders that as a Shareholder I am appalled at this cavalier attitude toward your account holders and worse still it is bad business, so as a shareholder I am even more sickened.
A more streamlined system that allows for customers with all of the various TD vehicles integrated create new vehicles and services, needs LESS human help to do things and the more automated it is, the less you have employees that must interface with IRATE customers like me! Less employees, means more profits. Ease of use is simply good business practices.
Resolution?
TD did finally clean up this mess, but only after a few more phone calls on my part.
No wonder I don’t like paying bank fees.
I do not know what good this will do, but I am rally fed up. I renewed my card last fall, and it was 2009 now it is 2012 and Iam still getting notices that it is invalid cause it has not been renewed, My charges are going through, it is only when I order a book on the computer. Ihave phoned about this and have been told everything is ok, but it is not.. will you please look into this or I will have to after all these years go to another credit company. can you Blame me Bernice Berryman
Might it be that the push for ever lower fees creates the environment where service is less available? If you keep cutting your revenues, you are unable to hire the staff you need to make the company run well. Thus the disconnect you see between the e-banking segments may well be due to a lack of talented staff to write the software!
For example, clothes at Walmart are cheap, but they tend not to survive very long either. If you only plan to wear those clothes for a short time, then the disposable factor may satisfy you; however, if you want longer wearing clothes, you might need to go elsewhere.
DAvid
Oh I have a bungled RRSP story of my own from TD. My significant other also wanted the E-Series funds from TD for his RRSP and they had such incompetent staff that they bungled the web access, created accounts that weren’t needed, screwed up automatic transfers to the RRSP and eventually he was sent to collections because of the screwed up transfer.
Thankfully it ended well, we talked to a manager at the branch and she set everything straight. Unfortunately we weren’t left with a very good first impression of TD.
I am hard on TD because I expect more from them. So far they usually give good service, but as a Shareholder I feel they can do MUCH better, and encourage them to do so.
My dealings with TD Bank have been uniformly positive and I am not even a banking customer. Maybe, the good service will disappear as soon as they are the main bank!