Personal Finance

Is TD Bank sending out CC statements late on purpose?

  • Last Updated:
  • Apr 20th, 2005 11:51 pm
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Newbie
Apr 18, 2005
2 posts

Is TD Bank sending out CC statements late on purpose?

I'm trying to figure out if this is happening to other TD credit card holders. My statement date is the 6th of each month, due by the 27th, but I get my bill around the 17-20th of each month. When I spoke to a rep, they were not able to give me a mailing date, just that it would be shortly after my statement date (the 6th), and that it's mailed from Toronto.

I live in Toronto, and mail within the city can be as fast as next day with a regular postage stamp. Seems hard to believe it would require TWO WEEKS in transit, so I'm guessing they're holding things up on their end- possibly to make it harder for some people to pay on time. RBC/CIBC CC statements seem to arrive with 3 weeks to spare.

If you have a TD CC, please post if you know how long it is between your statement date and the date you receive your bill. If you pay your bill promptly when you receive it, you can easily figure this out.

I appreciate any help on this. Thanks!
15 replies
Newbie
Apr 18, 2005
2 posts
I've begun checking my bill online this month, but I'm still upset that the bank may be doing this on purpose. I would like consumer groups to know about this practice if it is in fact going on.
Deal Addict
Jan 18, 2005
1717 posts
1 upvote
ditto...your bill should show up in easy web, and you can pay by transferring money from your account(s)...
Banned
Jan 11, 2004
19816 posts
572 upvotes
u can just check online. and i always get mine two to three weeks before due date. but i dont really read it anyways since i can check online whenever i want and make payments few times a month
Deal Addict
User avatar
Dec 12, 2003
2894 posts
334 upvotes
GTA
i've been getting my statements later past 2 months

my cycle ends on the 26th... usually get my statement within 3 or 4 days (including weekends)

but for the last 2 months i've been waiting close to 2 weeks... get the statement a couple days before payment is due

luckily i check mine online and pay the day the cycle ends
Deal Fanatic
User avatar
May 1, 2003
6818 posts
567 upvotes
Check on the envelope to see when it was mailed. It should have that orangeish strip of computerized printing on the back of the envelopes.

I cancelled my card from BOM because they did the same thing. I haven't noticed it with TD though.
Deal Fanatic
User avatar
Jul 18, 2003
7432 posts
2245 upvotes
Etobicoke
Put an entry in your calendar to phone TD and check your statement balance on the 20th of every month if you haven't received statement by then. Be sure to verbally speak to a CC rep instead of using the automated response system.

Modern call center management software keeps track of these questions. When CC reports show that a high percentage of clients call in to check statement balance due to late mailing, TD will mail it out earlier to reduce their CC volume. It cost them more to staff CC than mailing out statements earlier.

You can also ask the CSR to enter a note requesting earlier statement mailing.
Banned
Mar 21, 2003
3085 posts
1 upvote
Hey could one more person let us know that you can check it online?
Deal Addict
Jun 23, 2003
1404 posts
158 upvotes
does the envelope have a date stamp on it? that would be the mailing date. checked my rbc statements, some have stamps, most don't, i guess that won't help too much.
Sr. Member
Jan 12, 2005
938 posts
17 upvotes
I have one question here.
If I use the TD easyweb to transfer money from my chequing account to my credit account(based on their web, this money will arrive immediately), does this count as a self transaction?
Banned
Mar 13, 2005
362 posts
Switching money from account to account doesn't count as a transaction. So chequing to TD visa is fine, but chequing to a visa not with td would count as a transaction. Deposits & transfers within your account do not count against your self-serve transactions.

And to respond to the other question, yes you can view your credit card statement online using easyweb.
Sr. Member
Jan 12, 2005
938 posts
17 upvotes
jeremy_harq wrote:Switching money from account to account doesn't count as a transaction. So chequing to TD visa is fine, but chequing to a visa not with td would count as a transaction. Deposits & transfers within your account do not count against your self-serve transactions.

And to respond to the other question, yes you can view your credit card statement online using easyweb.
I just find this info from TD site
"Transfers TO your TD Visa account are considered self serve transactions. Depending on the type of account that the funds are being withdrawn from, regular account transaction fees may apply. However, these account transaction fees may be covered in your service plan. "
Deal Fanatic
User avatar
Apr 1, 2001
6830 posts
1257 upvotes
My TD Visa statement always arrives with more time left before the due date than my PC Mastercard statement does.
Deal Addict
User avatar
Dec 15, 2001
3416 posts
1251 upvotes
Toronto
mmm don't really understand the point of the question, but yes i check my TD Visa statement online too. i just log onto my TD bank account and my TD Visa info shows up too.

my main CC is with PC but every now and then i use the VISA to take advantage of those 10-20% off deals.

i usually pay my bills before the statement even gets to me. the paper statement i just file away for my record, just in case i need it.
v00d00 wrote:Hey could one more person let us know that you can check it online?
Deal Fanatic
Feb 11, 2005
7431 posts
2506 upvotes
BC
I generally find that TD are pretty timely, especially considering I'm in western Canada, although that does still mean 7-10 days.

The IMHO, the WORST offender for late statments (sometimes upto 3 weeks late) is HBC. What really pisses me off about HBC is that they put all the friggin mail-order crap in there; I've taken to sealing up the pre-paid mail order stuff & sending them back blank, or putting something funny in there (eg an IOU). This way:

1. I brighten some poor HBC mail-opening employee's day
2. HBC is getting to realize how annoying junk mail can be, and
3. Canada Post gets some extra revenue.

-EDIT- I wonder if it is related to the type of card you have... mine's a TD GM Card.

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