Investing

TD Direct Investing = Poor Service

  • Last Updated:
  • Jul 14th, 2019 10:28 am
[OP]
Member
Feb 13, 2008
366 posts
114 upvotes
Edmonton, AB

TD Direct Investing = Poor Service

I just wasted forty five minutes on my phone with TD Direct Investing. I called and the rep who could barely speak English asked me several questions to verify my identity. I guess TD's voice recognition software is no longer available. Anyways Rep #1 told me she will transfer me and if I got cut off to call a number. She then repeated the same number I just called. Duh!!! I was transferred to the second Rep #2 whose English was good unfortunately her computer was having software issues. Maybe the voice recognition was hungry and eating her software. Rep#2 then transferred me to Rep#3 . She wanted to know details about my identity again. I told her some of my identity info then I got mad and told her I just gave the first rep all my identity info. This rep informed me she will hang up on me if I am not professional. I then asked to speak to a manager. After a few minutes a supervisor came on and asked me all my identity questions again. I gave him and informed him I had just done that with the first rep. He said in order to avoid all these problems call this number. He gave me the original number I had called. I told him and he was surprised. I told him back in February I wrote a letter to the President of TD Direct Investing and an accounts manager in Edmonton spoke to me and I was told I will not be having issues going forward. I also mentioned I have been having issues with TD service since 1999. That's twenty years.

After all of this I have to spend the next week or more checking all the distributions and dividends to see if I have been receiving them. I told the supervisor I have an account with RBC DI and I have very few issues with them. Thanks for reading.

ps I am an immigrant just in case anyone thinks I am being mean.
14 replies
Deal Addict
Jan 8, 2006
1151 posts
356 upvotes
I have been using TD DI for about 3 years and used phone service 3-4 times never and issue. Just last month I setup SIP for the RESP account no issue whatsoever and yes the voice authentication work I have been using since I set it up.

Could be possible you and some other account has some identical info name , DOB etc and they just like to make sure it's your account?
Sr. Member
Apr 19, 2017
678 posts
507 upvotes
Wealthsimple Trade.
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Newbie
Mar 16, 2009
2 posts
2 upvotes
Richmond Hill ON
I have never had an issue with people on the phone. If anything, they are way more knowledgeable than people in-branch.
Newbie
May 12, 2006
12 posts
9 upvotes
I seldom call in but a few months ago, I was told by a rep that using the TD app to contact TD DI is the fastest way to get a hold of a rep and bypasses the verification questions as you've already been authenticated in the app. I tried it once afterwards and it seems to work as advertised.
Deal Addict
Feb 4, 2015
4330 posts
1306 upvotes
Canada, Eh!!
Family member has TDDI... when it works... good else the reps promise everything but don't always deliver... this is just based on her experience.

As another data point... she is signed up for electronic documents but for one of her account on CAD side still gets a duplicate stmt... countless calls and even a letter have resulted in nothing... she still gets stmt in mail... tears it up... rinse and repeat!!
Deal Fanatic
User avatar
Mar 12, 2005
8565 posts
1199 upvotes
Victoria
I'm a little curious as to what you were asking for the caused you to get passed around so many times. Seems to be a crucial part of the story but it's omitted.

You're talking to people in a call centre. They do have high turnover. You might of talked to someone newer that maybe wasn't familiar with your request?
[OP]
Member
Feb 13, 2008
366 posts
114 upvotes
Edmonton, AB
zod wrote:
Jul 12th, 2019 1:02 am
I'm a little curious as to what you were asking for the caused you to get passed around so many times. Seems to be a crucial part of the story but it's omitted.

You're talking to people in a call centre. They do have high turnover. You might of talked to someone newer that maybe wasn't familiar with your request?
Are you telling me or asking me? Smiling Face With Sunglasses
Jr. Member
May 13, 2015
186 posts
91 upvotes
Manotick, ON
Get $500K and you get a priority line to call
Member
Jan 21, 2018
439 posts
328 upvotes
Vancouver
TD Direct Investing is always careful to emphasize that they offer a basic discount brokerage service - they do not advise clients, they do not provide premium service. You can expect no better than the customer service you would get from any bank's general customer service pool. That is, ranging from great to horrible, depending on the person you get and the request you are making. I've used them for many years, and found some agents very helpful, providing me with prompt service or lots of good information on the question I had, others seemingly unable to understand what I want or offering outright misinformation with utter confidence in their bogus assertions. In other words, the usual... :rolleyes:

I've only had two serious complaints with them over the years:

1. They issued monthly statements for me for years, and then one day they just stopped and went to quarterly statements. Not only that, they chose quarters aligned with their year end instead of the quarters that most people use. When I asked them what happened, the agent claimed that they had never issued monthly statements!

2. Partly because of that, I didn't catch a serious error for almost 2 months. Something went wrong between me and TD's difficult-to-use web site, and they executed a transaction in the wrong account, resulting in a nonsensical transaction that nobody could possibly have wanted to do (borrowing from margin at high interest to invest in low interest savings). There was absolutely no warning or indication that it was borrowing from margin, no request for confirmation. When I finally spotted the error on the belated statement and asked them WTF, they would only say that it must have been my fault, they take no responsibility for processing nonsensical orders, and they offered only a token credit as compensation for the loss. I took appropriate action, removing a large amount of money from TD Direct Investing and moving it elsewhere. Bad customer service must have consequences!
Deal Fanatic
User avatar
Mar 12, 2005
8565 posts
1199 upvotes
Victoria
cocotheparrot wrote:
Jul 12th, 2019 5:35 am
Are you telling me or asking me? Smiling Face With Sunglasses
I was asking about the reason for the call. I was curious what would cause you to get passed around so much.

I have worked in a call centres years ago. It's hard to get good experience in them because everyone flees :)
Jr. Member
Aug 1, 2014
198 posts
44 upvotes
Try CIBC IE. When you open an account online and mail the paperwork to them, they’ll first say that it’s being processed and then 2 weeks later say that they never received them and they don’t have anything on file.
Deal Addict
Apr 18, 2013
2305 posts
876 upvotes
Canada
I find their customer service is good, but the knowledge is inconsistent. I will ask the same question to 2-3 different reps, and get a different answer each time. It got to the point where it affected my monthly PAC, so I escalated the issue and they gave me a $50 goodwill credit.
Newbie
May 9, 2017
28 posts
4 upvotes
Who do you contact to escalate the issue? I've had to call multiple times to set-up my automated investing and it is still not as I want (eg. bi-monthly instead of every 15 days, to coincide with payday, transfer from checking accounts not sync with investments resulting in account being <0, not updating my mail address while it is in EasyWeb). I've already sent a few emails to tddirectinvesting@td.com but never received any answers.
Note that I am OK with having a service with very limited customer service, but there are some actions that needs to be done via phone call... I'd rather have to do them on my own via the website (ironically, such actions can be done via the Easyweb site, not on the TD DI one...).
Deal Fanatic
User avatar
Mar 12, 2005
8565 posts
1199 upvotes
Victoria
Chemicalstorm wrote:
Jul 12th, 2019 1:21 pm
Who do you contact to escalate the issue? I've had to call multiple times to set-up my automated investing and it is still not as I want (eg. bi-monthly instead of every 15 days, to coincide with payday, transfer from checking accounts not sync with investments resulting in account being <0, not updating my mail address while it is in EasyWeb). I've already sent a few emails to tddirectinvesting@td.com but never received any answers.
Note that I am OK with having a service with very limited customer service, but there are some actions that needs to be done via phone call... I'd rather have to do them on my own via the website (ironically, such actions can be done via the Easyweb site, not on the TD DI one...).
I don't think the dates you can setup an automatic contribution/deposit are all that flexible. One thing most people don't know is you can send funds to DI accounts via bill payment at TD or from most other banks. Then you can full control over setting up the recurring nature of it (to the options the bill payment system has available). Only problem is that's half the puzzle. You still have to set up the automatic purchase of something (which can only be done for mutual funds). I think you start that by completing a form, but you can tweak the amount over the phone.

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