New TD Bank Agreement: Update 1 - Looking closer into it, first responses from my local branch
Following up on actions items from last post
To follow up on my previous post (now updated with more detail and video!), I went to my bank and ( in a most friendly manner - while doing other business with them) asked them to also print for me the new agreement AND ALSO the old agreement, which a senior officer readily did. Then I asked her to tell me what are exactly the new changes and then I started asking many more questions… The entire conversation went for almost twenty minutes…
Then I also got all my passwords fixed and was finally able to log in to my EasyWeb TD online banking portal and see all my many unread (4) messages, one of which was the one that was sent to me on Match 10, 2023, which was new this new User Agreement.
So I have downloaded and finally read this new Agreement carefully.
It was much longer then the one that my dad received by post, as my dad does not use online or electronic banking. It’s split into three documents (30 pages total). I have uploaded them to ivim.ca/substack/td and also at Facebook for the group members at links below:
Feel free to read them yourself and let me know what you think.
What I leant myself (by talking to bank senior officer, reading carefully all documents myself and talking to some of my concerned and less concerned friends) is posted in the video below.
Maybe it’s not as scary as it first sounded? But still, everyone concerned should do the same - go to the bank and ask all the questions.
In summary:
What they told me is that it’s their general practice (“to remove Services without notifying clients”) - to prevent fraud, and it’s only for online transactions.
They also confirmed that my personal data will not be ever shared with any other institutions and this has nothing to do with Digital currency.
At the same time, when I complained that I want to receive all important communications by paper, they told me that they no longer do it - everything is now communicated electronically. However, regular banking (in person in branches) still remains - for those who does not want to sign agreement to use cards or online banking (like for my dad).
Decide for yourself.
As for me, I will still likely move away from this bank and any other major global banks who do not allow old-fashioned banking with paper communications and who have not tainted their reputation last year when they froze the accounts of peaceful protestors.
Friends recommend going with Credit Union. Some are happy with Caisses Populaires Desjardins (which we have in Quebec and Ontario).
Some (with no connection to Ukraine!) recommended Ukrainian Credit Union, which we have in Ottawa. Coincidentally, it was my very first bank when I came to Canada more than 25 years ago. Maybe I’ll start using their services again…
Hi Dimitry…I too went to the bank with the intention of removing our accounts. We decided to stay for now but have written a complaint officially to the bank. It was more to express that in light of bank failures, Canada’s central bank in a “loss”, freezing accounts (same example of protestors) and Digital currency being promoted. We flat out said NO TO DIGITAL CURRENCY. Also, we complained that digital and electronic are used interchangeably and that is disturbing. One of the points I made is that we wouldn’t be worried and concerned if we hadn’t lost trust. We have also joined the Meridian Credit Union.