Personal Finance

What's the procedure to change branches?

  • Last Updated:
  • Jun 16th, 2018 5:09 pm
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Deal Addict
Nov 25, 2014
1571 posts
701 upvotes
Newton Brook, ON
MadCanadian wrote:
Jun 12th, 2018 2:37 pm
The only thing that the bank ever needs to be changed is the address in which the bank keeps, this determines where to mail your info. Modern accounts are no longer tied to branches as there is no paper trail to follow at a branch, it would have been scanned and uploaded to your account. Banks treat branches like wireless cell stores, they have physical employees to help you out, they have phone customer service who has the same powers as a teller, anything requiring physical location just needs you to be at a branch to sign or verify.
I take it you have the fortune of not dealing with Scotiabank. Recently I spent about 20 minutes watching employees physically follow a paper trail at a branch, and I do mean paper trail. Phone customer service directs me to a branch at least half the time. Some things are completely inaccessible to them because there is simply no online record. One time they told me they couldn't pull up a file because someone else had it at the time. Let me repeat that - someone else had the file... in their office. When I needed a copy, I had to take it to work to scan it myself because they don't even have digital scanners, just basic photocopiers. A Scotiabank branch is less like a wireless store and more like a historical exhibit.
You need someone with an umbrella not a fork
Penalty Box
User avatar
Jun 24, 2015
1228 posts
136 upvotes
Woodbridge, ON
I moved branches and my transit number for my account still stays with my old branch just my address on file gets updated and i deal with a new personal financial advisor, everything else stays the same u dont need to open new acounts u dont need to transfer funds etc
Hi
Sr. Member
Feb 11, 2009
943 posts
200 upvotes
I know we've gotten off topic but just for fun...

Over a decade ago I lost my bank card while at university. I called to have it cancelled and they said to go to my home branch to get a new one. As I was at school with a meal plan, I fortunately didn't need cash and waited a few weeks before I went home.

Just recently, I had to update some banking info for a non-profit I am involved with. There 3 of us that needed to sign and for some reason the account is in the middle of nowhere (Vaughan). It is virtually impossible to get all three of us in place together. So two of us go into a North York branch where the rep lined up all the paper work and we signed. She then sends the paperwork to a third branch where last person makes an appointment and signs. The files then go back to North York branch were rep updates the computer systems, then sends the files to original account branch for filing. Thank you TD!
Member
Nov 8, 2017
494 posts
199 upvotes
nmclean wrote:
Jun 12th, 2018 9:39 pm
I take it you have the fortune of not dealing with Scotiabank. Recently I spent about 20 minutes watching employees physically follow a paper trail at a branch, and I do mean paper trail. Phone customer service directs me to a branch at least half the time. Some things are completely inaccessible to them because there is simply no online record. One time they told me they couldn't pull up a file because someone else had it at the time. Let me repeat that - someone else had the file... in their office. When I needed a copy, I had to take it to work to scan it myself because they don't even have digital scanners, just basic photocopiers. A Scotiabank branch is less like a wireless store and more like a historical exhibit.
Not surprised seeing this. 3 or 4 months ago I saw a Scotia ATM, and it looked like a Soviet Era control panel for a space ship
Newbie
Jun 29, 2015
43 posts
18 upvotes
GTA
Like everyone has said here, the branch where the account is opened no longer matters. And if you really want to switch it, any branch will be able to do it for you by opening a new account with a brand new account number.

The only bank I've had an issue with this is HSBC. If you opened your account in a, say for example, Vancouver, BC branch. It'll forever be tied to that branch no matter how many times you close and open your account. Even if you open an account in HSBC Ontario.

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