TD Canada Trust

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TD Canada Trust
Type Division of Toronto-Dominion Bank
Industry Financial Services
Founded Toronto, Ontario (2000)
Headquarters Toronto, Ontario, Canada
Number of locations Approximately 1,100 branches, and 2,600 ATMs[1]
Area served Canada
Key people Ed Clark, President & CEO [2]
Services Banking
Website www.tdcanadatrust.com

TD Canada Trust is the personal, small business and commercial banking operation of the Toronto-Dominion Bank (TD) in Canada.[3] TD Canada Trust offers a range of financial services and products to more than 10 million Canadian customers through more than 1,100 branches and 2,600 "Green Machine" ABMs.[1]

The current TD Canada Trust division was formed after TD's acquisition of Canada Trust in 2000. All new and most existing accounts are officially issued by TD Bank (Institution Number: 004), although Canada Trust (Institution Number: 509) remains a separate subsidiary entity, and remains the issuer of accounts opened at that institution prior to the merger.[4][5] Over the past year[when?], TD has been phasing-out the "Canada Trust" part of its name from its logo online, in advertisements, and on stationery. It is possible that this is a move to consolidate TD's Canadian and American (TD Bank North) retail brands, but this is unknown at this time.

Worth approximately $9.7 billion, TD has been regarded by MSN.com as Canada's most valuable brand.[6]

Overview[edit]

TD Canada Trust markets itself as having longer hours than any other major bank. Since late 2007, most branches are open 8-6 Monday to Wednesday (some until 8pm), 8-8 Thursday and Friday, and 8-4 on Saturday, with some exceptions for very low-traffic branches. As of February 2011, over 300 branches are open 11-4 on Sundays. All branches are closed most statutory holidays.

For 2011, TD Canada Trust won the only two nationally syndicated Customer Satisfaction Studies awards from Synovate[7] and J.D. Power and Associates[8] for the eighth consecutive year. TD Canada Trust's parent company, TD Bank Financial Group, was also recognized as one of the "Best Employers" in Canada by Mediacorp Canada Inc., publishers of the annual Canada's Top 100 Employers list.[9]

Tim Hockey is both Group Head, Canadian Banking, TD Bank Financial Group as well as President and CEO of TD Canada Trust.[2]

History[edit]

TD Canada Trust branch, Edmonton, Alberta
TD Canada Trust at Bay & Front Street in Toronto

Canada Trust was formerly an independent company, founded in London, Ontario in 1864 as Huron and Erie Savings and Loan Society. The company was acquired by TD Bank in 2000, which adopted the new brand name "TD Bank Financial Group". Canada Trust's retail division was merged with TD's existing retail banking operations over the course of 2000-2001 to collectively form "TD Canada Trust". Canada Trust President and CEO W. Edmund Clark was made President and COO of TD, and later ascended to President and CEO of TD Bank Financial Group in 2002.

Online Banking[edit]

TD Customers are able to do online banking through TD's EasyWeb system. EasyWeb allows users to perform many transactions, manage bills, update personal information, manage investments, and view banking histories. Account management enables users to manage chequing, savings, and credit accounts as well as investments such as mutual funds and GICs. Banking history is stored up to 18 months online. Customers are also able to order cheques online through EasyWeb.[10]

With the automatic payment information, users are able to set an automatic payment to over 5000 different companies. Companies include utility companies, educational tuition, taxes, and credit cards. TD allows the user to add a number of payees, and automatic payments may be set to the desired time period and amount. Online transfers are also possible such as Interac email money transfer and foreign exchanges.

In 2011, TD Canada Trust launched a mobile banking app for iOS, Android and BlackBerry platforms, allowing clients to perform many of the same transactions that are available through EasyWeb online banking. [11]

In June 2012, TD Canada Trust introduced an enhanced Access Card with the new VISA Debit /Interac Flash Access Card which will allow customers to use it via phone/online and at international merchants through the Visa network. [12]

Footnotes[edit]

  1. ^ a b "Welcome to TD Bank Financial Group". TD Bank Financial Group. Retrieved 2013-03-15. 
  2. ^ a b "Corporate Information: Executive Biographies". TD Bank Financial Group. Retrieved 2011-05-28. 
  3. ^ Sasha Yusufali (2012). "TD Bank Financial Group". The Canadian Encyclopedia. Retrieved 2013-03-15. 
  4. ^ "About Our Accounts and Related Service". TD Canada Trust. 1 August 2012. Retrieved 2013-03-15. 
  5. ^ "Rule D4: Institution Numbers and Clearing Agengy/Representative Arrangements". Canadian Payments Association. December 2012. Retrieved 2013-03-15. 
  6. ^ Jason Buckland (19 June 2012). "Canada's most valuable brands". MSN Money. Retrieved 2013-03-15. 
  7. ^ "TD is No.1 in Customer Service Excellence among the top 5 banks say customers in 2011 Synovate Survey" (Press release). Canada NewsWire. 30 August 2011. Retrieved 2013-03-15. 
  8. ^ "2012 Canadian Retail Banking Customer Satisfaction Study" (Press release). J D Power and Associates. 19 July 2012. Retrieved 2013-03-15. 
  9. ^ "Canada's Top 100 Employers". Mediacorp Canada, Inc. 10 October 2012. Retrieved 2013-03-15. 
  10. ^ "TD Online Banking: An Overview of TD Online Banking". encyclopedia.jrank.org. Retrieved 2013-03-15. 
  11. ^ "Connect to TD anytime, anywhere". TD Financial Group. Retrieved 2013-03-15. 
  12. ^ "Your New TD Access Card". TD Financial Group. Retrieved 2013-03-15. 

See also[edit]

External links[edit]