Personal Finance

Late statements, first Tangerine, now TD

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  • Sep 19th, 2017 2:15 pm
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[OP]
Deal Addict
Feb 29, 2012
2662 posts
1395 upvotes
Richmond

Late statements, first Tangerine, now TD

I've been complaining to Tangerine for the last year that their quarterly investment statements keep getting later and later, up to almost 2 months after the end of quarter now. That's way later than their written commitment, but I can't get a straight answer from them what the problem is or when they plan to fix it.

Now this month it's TD Direct Investing (Waterhouse). They usually issue statements within a couple of days of month end, but here it is Sept. 9 and no statements yet for August.

Shouldn't these institutions be getting better over time, not worse? Have things like requirements for more disclosure of management fees thrown them into confusion? What's going on?
10 replies
[OP]
Deal Addict
Feb 29, 2012
2662 posts
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Richmond
Ok, TD is really beginning to piss me off here. Still no statements for last month, their messaging service and email response is "can't discuss TD Direct Investing accounts, call in", and their toll-free number says repeatedly "All circuits are busy, try again later".
Penalty Box
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Aug 23, 2006
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Faith24 wrote:
Sep 9th, 2017 5:48 pm
I've been complaining to Tangerine for the last year that their quarterly investment statements keep getting later and later, up to almost 2 months after the end of quarter now. That's way later than their written commitment, but I can't get a straight answer from them what the problem is or when they plan to fix it.

Now this month it's TD Direct Investing (Waterhouse). They usually issue statements within a couple of days of month end, but here it is Sept. 9 and no statements yet for August.

Shouldn't these institutions be getting better over time, not worse? Have things like requirements for more disclosure of management fees thrown them into confusion? What's going on?
nothing you could do. Best way is twitt them and may be they will respond you faster. Going to branch wont help. Problem is alternatives are so few and may be worse.
“There are some things money can’t buy, and for everything else there’s MasterCard. Well, get out your checkbooks ladies and gentlemen, because it seems like the entire liberal cabinet can be bought. TRUDEAU: I CAN’T BE BOUGHT...LMAO. Because its 2017
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Feb 4, 2015
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Canada, Eh!!
While back in another thread someone had mentioned that TD updated stmt format and they had some issues causing delays.

Is there not a download feature with TD. In no way does it replace stmts or excuse TD however at least have info.

Glad to have old fashioned RBC DI stmts.
[OP]
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Feb 29, 2012
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Richmond
georvu wrote:
Sep 13th, 2017 2:32 pm
Is there not a download feature with TD. In no way does it replace stmts or excuse TD however at least have info.
Yes, you can download TD statements in pdf format, and I do. But you can't if the statements are not prepared yet, which is the problem here.

The most you can do is look at your account online, go through the transaction history, and hope you aren't missing anything. I'm paranoid at the moment because TD made an error that ended up costing me $400 a few months ago. They refused to fix it other than crediting back $100 for "goodwill" because they said I should have caught it in the statements.
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Feb 4, 2015
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Canada, Eh!!
Faith24 wrote:
Sep 13th, 2017 2:54 pm
Yes, you can download TD statements in pdf format, and I do. But you can't if the statements are not prepared yet, which is the problem here.

The most you can do is look at your account online, go through the transaction history, and hope you aren't missing anything. I'm paranoid at the moment because TD made an error that ended up costing me $400 a few months ago. They refused to fix it other than crediting back $100 for "goodwill" because they said I should have caught it in the statements.

No, I meant download transactions in excel or similar format so you can check transactions. Not download stmts.

That sucks for TD error especially since if stmts late then how can they fairly say that you should have caught!!
Deal Fanatic
Mar 24, 2008
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Toronto
In this day and age, what are you guys looking at the statements for? All the information you need to do the calculations is available 24-7, 365 1/4 days a year? :confused:

Just 'twitt' them as someone mentioned above :lol:
Illegitimi non carborundum
[OP]
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Feb 29, 2012
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Richmond
ksgill wrote:
Sep 13th, 2017 10:00 pm
In this day and age, what are you guys looking at the statements for? All the information you need to do the calculations is available 24-7, 365 1/4 days a year? :confused:
It takes 3 days for many transactions to complete, and it may involve multiple sub-accounts. The summary information shown may not include the details you need to see without drilling down. If you are doing various transactions at random intervals, and you're busy with many other things, you may not have the time or attention to spare to chase up every transaction days later to see that all the details are correct. That's why it's easier to examine a consolidated statement once per month.

In the case of the error I mentioned, I only noticed it because an unexpected interest charge eventually showed up on a month end statement, and I realized that they had done a transfer from the wrong account.
Deal Addict
Feb 4, 2015
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Canada, Eh!!
Just talked to someone who has TD DI acct... they got stmts on Mon.

Send them a message via twtr or fb
Deal Addict
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Mar 16, 2010
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Hamilton
ksgill wrote:
Sep 13th, 2017 10:00 pm
In this day and age, what are you guys looking at the statements for? All the information you need to do the calculations is available 24-7, 365 1/4 days a year? :confused:

Just 'twitt' them as someone mentioned above :lol:
OP is 87 years old.
[OP]
Deal Addict
Feb 29, 2012
2662 posts
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Richmond
Finally got through to TD Direct Investing on the phone. Rep surprised that I had no statement, spent 10 minutes checking on it, then came back and said that he was told they have switched to quarterly statements. I asked "was there an announcement of that?". Another 10-minute check. Answer: "They said it's always been that way. Can't explain why you always get monthly statements. There was a little problem with statement generation at the beginning of August, but it should be fixed by now...". In other words, they're clueless about the problem and proffering whatever offhand answer that comes to mind.

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