After checking my Phone TD Easyline App, more confusion. There seems to be a list of bills there, but it is very old and inaccurate? This one is an interesting one.
Pay My Bills
Dude, just want to pay bills! Where Dude, is TD.
Not Just Me?
Luckily, the problem was resolved, and my bill list seems to have returned. I will make sure I have a backup copy.
Official TD Statement
We have been notified of an intermittent issue with some customer’s Bill Payees and Bill Payment function on EasyWeb. Please rest assured this issue has been escalated with high priority and our partners are working hard to resolve.
One of my favorite movies is “The Hustler” (the original with Paul Newman and Jackie Gleason). Mr. Newman played “Fast Eddie” Felson a hustler who wants to be a success, and his goal was to beat Minnesota Fats (played by Mr. Gleason). The movie is an intricate set of stories, one of which is the thematic premise about how to deal with your victims (patsies, marks, etc.,):
“Always leave a mark with some money in their pocket, that way they keep coming back”
That is how banks have done it for years. They are finding new and more exciting ways to bleed some money out of you, but not so much that you decide to bank somewhere else (also, they are all doing it, your only other option is to put it in your mattress).
The scary part is that Insurance, Telecomm Companies and most service providers have gone to this model. Bleed out as many fees as they can, until you threaten to leave.
Automatic payment systems are convenient, but convenience always has a cost. It is essential to audit your automatic payments regularly, or you may get an unhappy surprise.
I noticed a charge on my PayPal account. An email arrived confirming I had made the payment. I investigated and saw it was for a service I no longer used. The email concerned me, as I don’t particularly appreciate squandering my income.
The convenience of this service is obvious. You have a fire and forget system that makes sure you pay your bills on time. The problem I have run into is with PayPal. I have not managed these payments. Operator error is the main issue here, not the services offered by PayPal.
PayPal allows you to set up automatic payments to various services. This capability is very convenient, but it also offers the ability to Manage Automatic Payments. You can find it in the Menu for Payments.
There were many automatic payments on the list, and some were payments dating back over ten years. I busily cancelled all the transactions I didn’t recognize. There were payments from demised companies like TigerDirect.
Perils of Automatic Payments?
If you do not cancel these payments, companies can take your Paypal payment without notice. You permitted them already. It is possible to recuperate if payment is taken (via PayPal’s resolution process), but your money may not come back.
Are there companies that snap up demised companies’ assets and PayPal accounts? Do these companies maybe try to withdraw money when they shouldn’t? I hope not, but I would not be surprised.
In these days of COVID, many bank services are not as easy as before. We are trying to open a bank account for my son. All we wanted to do was open a Kids Savings account, that would give him a bank access card too.
Our family has done allowances this way for a long time. We automate the money going to the child, as a weekly deposit to a no fee TD bank account. This method worked well with my daughters.
My son, being on the autism spectrum, we weren’t sure how this would work. Happily he has asked about banking and wishes to have an allowance, so we are now trying to open a bank account for him.
For Tangerine, you have two options:
For a kid who is less than 16 years old you can open a straight savings account. This can be done over the phone. We didn’t want to use this because it would not include a bank access card.
For a student 16 years and older they have a student chequing account. This comes with a bank card, however, my son is not old enough and he does not need chequing capabilities, yet. This is done on-line.
We decided we were going to try to create a TD Kids Savings account. I called Easyline and was told this can only be done at a bank branch face-to-face. This is how we did it for my daughters. I was hoping we could do this on-line or over the phone, but no, this is not possible.
To book a face-to-face meeting with our local branch, takes at least 2 weeks, thanks to COVID. All bank branches are running with smaller staffs, and they are not open for as long. Banks are closed on Sundays, during the pandemic.
I had to wait 2 weeks to open my son’s bank account. Patience is not something my son has mastered yet, so there was a lot of nagging on his part about his bank account.
Finally managed to set up the account, but a few interesting new wrinkles.
The account is a TD bank account. This type of account no longer is automatically on my Easyweb. Previously all my older kids’ accounts were visible.
Still a lot of “paper” work. The amount of physical paper in the banking system must make Domtar proud.
A few folks have asked, I had to have 2 pieces of identification for my son. In our case we used a valid passport and his birth certificate.
While trying to log into my Banking Web site (from a PC), after I had successfully remembered my log-in ID and password, something different happened. The site put up a Pop-up window saying it was testing security and wanted to send me a code to my Cell phone (or call me with the code).
After my initial confusion and then annoyance, I was heartened to see this kind of security come up. Banking security is very important, and the edge of the network (i.e. users logging in) are where the system is usually the weakest. The Desjardins Data breach is a good example of the need for banking security and data security.
Good Test ?
My hope is that this is simply a test, and you will see why.
After I realized I did not have my Cell phone handy, I simply cancelled out of the Security Message screen, which then took me back to the regular bank log-in screen. I thought for a second, and decided to see what would happen if I tried to log-in again. What I saw underwhelmed me. I was able to log-in, no problem, and no “challenge”.
My sincere hope is this is simply a test by my bank, because if I have been “challenged” for an alternate log in, I should not be allowed to log in after an initial failure. The application should continue to challenge me, until I pass the challenge, or until I fail a set number of times. Once someone fails I would hope my account access would be locked.
Banking Security ?
My hope is this is my bank attempting to test out new security for authentication (without enabling 2 factor authentication), and when they do a full roll-out, the rules will be stricter. I like the concept, but if this is how it will work it isn’t a great data protection system.