TD Bank is bit hard on pocket, time and health. One has to stand in long que to get transaction done and they charge a lot. RBC,CIBC, Scotia Bank are giving good deal to new immigrants ( does not cover people who are on AEO / workpermit/ students) for 1 year - free banking.( for RBC 6 months) It is not that TD Bank is everywhere, other banks are also also everywhere. Number of ATM's of CIBC is more than anyother bank as per record.
Mortagage rates of Scotia Bank are lower than TD Bank.
Any discount on any service, one cant get in TD Bank cause the management is not flexible and TD manager told me several times.
For new immigrants TD Bank is bit reluctant to give unsecured credit card (limit of $500), Scotia Bank issues unsecured credit card ( with smile) with limit of $1000.
TD Bank charges $25 for wire transfer, Scotia charges $10.
TD Bank charges $7.5 for issuing bank draft, Scotia - Nil
TD Bank one needs to keep minimum $1000 on day to day basis in chequing account, Scotia - Nil ( one can keep all money in power saving account)
TD Bank charges $7.5 for deposit of Bank Draft, Scotia - Nil
I havent found a place in Toronto GTA where TD Bank is there and Scotia Bank, RBC, CIBC are not there. These banks are everywhere. A lot of time all these banks are in one mall itself.
By the way BMO is dud bank, i suggest keep away from it.
Before coming to Canada I was given impression by forum members that TD Bank is local bank, more ATM 's etc etc etc, I think it is more of hearsay only and is not correct.
My Bank - Scotia Bank
Immigration Forum
