Your banking experiences

[circa76]

I'm contemplating switching banks (I'm currently with RBC) to either Scotiabank, BMO or TD.

I'd like your opinion on which of the four banks listed above tend to be the best for:

1) online service - i.e. good online banking site, easy to use, good uptime, etc
2) no excessive service fees - willing to pay a small monthly chargge but should be fairly all inclusive. not interested in maintaining a balance for no service charges
3) bank branch locations - the more the merrier
4) bank branch hours - the longer the merrier
5) customer service - how good/friendly the staff are
6) investments - good choice of mutual funds, good stock trading service
7) flexible with credit/mortgage interest rates - the more flexible they are (i.e. willing to give you something outside of their normal packages) the better
8) any other things worth mentioning

Thanks!

[83_gemini]

It depends on the manager of course, but TD's online interface is quite good and it tends to have longer hours. A good TD manager can be very helpful.

[gq_fuzion]

TD has the longest branch hours (majority open M-F, 8 - 8 and sat 9 - 3)

[jeeva86]

yea..go TD

[Aske001]

I deal with all of these banks regularly, and have for years. There's little to choose between them. The relative advantages offered by their services, fees and policies change back and forth a little, but never stray far from the pack. RBC is maybe the worst and TD the best from a consumer banking point of view at the moment, but there's not much difference.

For consumer banking, the best by far is PC Financial (a division of CIBC). It offers high interest rates on savings account, no fees for most services, excellent internet access, free access to all CIBC bank machines, plus in-store branch service at many Loblaws and Superstore locations. I use them for all my routine banking, and just keep my accounts at the other banks for specialized purposes (e.g, US$ banking or access via overseas networks).

[circa76]

thought about PC Financial (and others like ING) but not too interested since I'm looking for a one-stop solution. They don't have a lot in terms of investment options. I also don't keep much money in my chequing account (don't have a savings account) since I continually funnel cash to my investment account (as soon as I accrue about $1000 in excess cash - off it goes).

To those recommending TD, yeah I have a waterhouse account that I use to trade, and its a good interface, but I don't know about their online banking. Also, how easy is it to get a hold of/meet with your account manager? Do you find that they are knowlegdable and willing to go the extra step for you?

My account manager at RBC was fantastic, but she has since left for another position in RBC and I don't have a working relationship with my new account manager (not even one phone call to introduce herself to me!) so I'm not impressed at this point.

[vickyvictoria]

you should consider a credit union - the branch hours arent' as long, but with online banking, how often do you need to go into a branch?
credit unions are smaller, but they offer a wide range of financial services!
:)

with the big banks, i would go with TD/CT - great online access (td waterhouse and easyline) - 24hr customer service - branches are open late

[83_gemini]

I find Easyweb far easier to use then PC Financial (though I too use TD only for things like US dollars, certified cheque etc.).

I think it depends on the manager. My father who's an accountant deals with TD for business and says the branch his company deals with tends to be relatively flexible and understanding.

Also while PC is useful if you have lots of money sloshing around the hold times are annoying, while with TD it easier to find someone to waive them.

[guyarchangel]

+ TD EasyWeb and nice/friendly extended hours service and branches

[Krox]

I think it really is going to depend on the branch. I've had experience with RBC, CIBC and TD/Canada Trust. TD certainly has the best hours of all the banks yet tended to be more inflexible on the rate of a LOC for my g/f.

I've been banking with RBC for more than 10 years. Their service charges tend to be on the high side but I've had nothing but good experience with their service. My local branch calls me a least 1-2 times a year to review my account and asks if there is anything they can do for me. They offered me a very good rate on my LOC compared to what my g/f got offered from TD, even though she makes a lot more than I do and has a higher credit score. I think it really does depend on the branch you bank with. Plus I think it is key to build a relationship with the bank. No matter what bank you choose you will likely get treated better if you stay there for a while instead of constantly moving your money around.

[nites]

TD at sq 1 is really nice and scotia bank at sq 1 is really horrible. They used to be nice in the past and with unexperienced people and lack of customer service and professionalism, that place is becoming a hell.

We moved to TD and its just great. atleast for now:)

[aingaran]

TD's probably the best.

But, I'm currently with RBC and too lazy to switch.. I have/had a PC financial account, but the lack of access/features out weighs the service fees/interest rates, so I've decided to switch all my banking back to RBC from PCF.

[i2004tor]

TD's probably the best.

But, I'm currently with RBC and too lazy to switch.. I have/had a PC financial account, but the lack of access/features out weighs the service fees/interest rates, so I've decided to switch all my banking back to RBC from PCF.

What "access/features" have you found to be lacking with PC Financial?

I'm in the process of making the switch the other way around, i.e., RBC to PCF, so I'm curious as to whether it might be something I would regret; the process is a bit of a hassle.

[JugglingReferee]

I know some people that work at Scotiabank, across a few branches, in various types of rolls.

Their idea of customer service is very hard-nosed. They are friendly, but discussions I've had they are out to make money and the relationship with the consumer did not seem to be a priority. I'm not with ScotiaBank, nor do I see myself going there.

[83_gemini]

The Easyweb interface is somewhat easier to use. The hold times at PCF can be annoying (you should check how long your hold times are, as they may hold a large chunk of your pay), while internal TD transfers are instantaneous. Also if you're doing investing, generally TD is probably the best deal among the big 5, and TD offers some good low MER funds etc.

I think PCF is a good deal, but you have to be aware that just because you're not paying service charges, it doesn't mean there's no "cost," it's just a convenience cost of sorts. Not a high one (IMO certainly better then paying 40 bucks a year to TD to have a chequing account), but there's still a cost of sorts.

[i2004tor]

The Easyweb interface is somewhat easier to use. The hold times at PCF can be annoying (you should check how long your hold times are, as they may hold a large chunk of your pay), while internal TD transfers are instantaneous. Also if you're doing investing, generally TD is probably the best deal among the big 5, and TD offers some good low MER funds etc.

I think PCF is a good deal, but you have to be aware that just because you're not paying service charges, it doesn't mean there's no "cost," it's just a convenience cost of sorts. Not a high one (IMO certainly better then paying 40 bucks a year to TD to have a chequing account), but there's still a cost of sorts.

Good points.

I debated this for some time, i.e., the switch from a brick-and-mortar bank (RBC) to PCF. In the end, I decided that I really do very rarely need a physical branch, and I never use EMTs, and almost never work with US dollars, etc.

And by the way, re: your point about having a "large chunk" of one's pay held by PCF, the rep who signed me up at the pavillion told me that electronic payroll deposits are cleared in its entirety instantly.

[yell0w_c0w]

+1 Easyweb... I love their UI! :)

[83_gemini]

That is good to know. I did have an issue with a large cash deposit that got held, which meant a cheque of mine didn't go through. My fault entirely for not being careful about available funds, but still annoying.