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Changing Banks?

TD has decided not to give me “free banking” or any other cheaper service, so, one time, very soon I will follow through with my threat from this 10 year old post. I will change banks (and it won’t be hard because I have accounts at 4 different ones already).

I am starting to Psych myself up to go in and demand free banking from TD Canada Trust (again). For those of you who do not remember this is one of my pet peeves or favorite rants, depending on how you’d like to look at it.

About 7 years ago I changed banks due to me being incredibly pissed off at the Bank of Montreal. I outline this story in Don’t Be Afraid to Make A Change it is well worth reading. From that point on I have insisted on having FREE banking, and have had it mostly, until this past year.

I plan on going back in this Thursday and asking for my free banking again, using the following arguments:

  • I am a customer of good standing over the past 7 years
  • I do a great deal of business through this bank (Interac, Mortgage and trading)
  • I am willing to go to PC Financial for my banking (or any other low fee bank), as they have paid me $1000 in groceries for the past two years, whereas TD has charged me over $150 for the past year

The important factor to remember here is that I must be willing to walk away, which I usually am. Occasionally I wimp out, when the argument, “No one gets free banking” comes out, but that is bollocks, and an attempt to bully you into taking their pathetic offer.

What Will Happen?

I will keep you all posted on the events as they transpire, but my wife is going with me as moral support.

Feel Free to Comment

  1. … and that is the trick, you cannot go in and bluff, you must be willing to follow through, good for you!


  2. Christopher Morrell

    I did this last year. I dumped RBC after asking them to either tell me how I can have a free chequing account (for maintaining some minimum balance) or if this was not possible, how do I close my accounts. They told me (in writing) that they didn’t offer any free chequing accounts but did tell me how to close my accounts. I moved my $80k+ of chequing, savings, RRSP and LOC to BMO and never looked back.

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