TD Canada Trust Ranks 1st for Customer Satisfaction
TD Canada Trust has done it again! For the 7th year in a row, TD Canada Trust has been awarded the top ranking in customer satisfaction among the Big Five banks by J.D. Power and Associates 2012 Canadian Retail Banking Customer Satisfaction Study!
TD Canada Trust ranked the highest in overall customer satisfaction among the Big Five ranking the highest in all 7 categories, with a score of 769. which includes:
- Account activities
- Account information
- Facilities
- Product Offerings
- Fees
- Financial advisor
- Problem resolution
How did other banks rank in the latest Customer Satisfaction Study?
Ultimately, there was an overall decline in customer satisfaction within the Big Five, primarily due to a decline in fee satisfaction. If you can recall, Royal Bank of Canada (RBC) has recently increased fees on banking products.
The main cause of the decrease in fee satisfaction is due to an increase in various changes to fee structures; 27% of customers have experienced these changes. A couple of months ago we saw banks increase their line of credit interest rate for customers – despite many being model clients.
What makes TD Stand out from their competition?
The fact is, TD has done several things over the year to help make it #1 among the Big Five.
Here are some of the highlights of TD’s service and convenience:
- TD is open 50% longer than its competition – a quarter of their branches are open 7 days of the week. This to me is one of the most convenient features of TD; I love being able to go to the bank any day of the week.
- TD is opening 20 more branches in 2012-07-21
- TD has embraced social media, taking the world by storm in their engagement and activity on it.
To me, TD has set a standard of customer satisfaction, and they are being recognized for it, which I am happy to see.
What do you think of TD Canada Trust ranking #1?
Clay
Amy @ JobCred CV Builder
Keith Penny
Penn
Comments (5 )
I measure customer satisfaction on whether I feel appreciated and respected while being helped in the branch.
On a Saturday morning at the TD branch in my town the tellers are complaining about their long hours and the fact the don’t really want to be there.
[Reply]
What do you think of TD Canada Trust ranking #1?
UNDESERVED.
I’m a long time customer on the market for a new bank.
TD Fees have increased and my Visa protection has apparently DECREASED.
Mid-July 2012 I was informed that, oh by the way, effective the first of this month we’ve DECREASED your protection from fraudulent usage of your credit card.
“You are responsible for the full amount of all activity or other transactions which occur before we receive notice that your PIN, Password or Card was lost or stolen or that your Connect ID, PIN or Password may have become known to an unauthorized person because we will consider that activity authorized by you”.
Whatever happened to 0 Liability for lost or stolen credit cards?
I have always been extremely careful with my card and will continue to be so when I find my new bank but what I think I resent the most is that I was informed of these changes two and a half weeks after they were made and my consent to these changes was given by me, without my knowledge, simply by having used the card effective July 1, 2012, onwards. (AGAIN, was not informed until two and a half weeks after changes to liability were made.)
As a long-time, loyal customer, I’m fed up and personally, I’ve never trusted them less! (No one asked me to participate in that survey.)
In the market for a new bank – any suggestions?
[Reply]
What do you think of TD Canada Trust ranking #1?
UNDESERVED.
I’m a long time customer on the market for a new bank.
TD Fees have increased and my Visa protection has apparently DECREASED.
Mid-July 2012 I was informed that, oh by the way, effective the first of this month we’ve DECREASED your protection from fraudulent usage of your credit card.
“You are responsible for the full amount of all activity or other transactions which occur before we receive notice that your PIN, Password or Card was lost or stolen or that your Connect ID, PIN or Password may have become known to an unauthorized person because we will consider that activity authorized by you”.
Whatever happened to 0 Liability for lost or stolen credit cards?
I have always been extremely careful with my card and will continue to be so when I find my new bank but what I think I resent the most is that I was informed of these changes two and a half weeks after they were made and my consent to these changes was given by me, without my knowledge, simply by having used the card effective July 1, 2012, onwards. (AGAIN, was not informed until two and a half weeks after changes to liability were made.)
As a long-time, loyal customer, I’m fed up and personally, I’ve never trusted them less! (No one asked me to participate in that survey.)
In the market for a new bank – any suggestions?
[Reply]
http://www.moneyville.ca/article/1229345–bank-lose-trust-as-service-charges-rise
“Terry Kushnier said his wife received a TD Visa statement on July 19, dated July 9, which had an insert about important changes to take effect on July 1. One change involved unauthorized transactions. “Isn’t there an advance notice requirement about contractual changes?” he asked.”
[Reply]
New Canadian resident here. Been with CIBC for 3 years. Just half a year ago opened up a TD account, and it is now my main banking institution (including credit card). I am really a satisfied customer with TD. Reasons why I am not closing my CIBC account are because I’ve purchased cheque books there, and to keep the credit card active (for my credit score). Have been unimpressed by CIBC’s customer service on multiple occassions too. And rewarding customer loyalty? …
However, CIBC really shines at is its technology department. TD’s (and AFAIK, all other banks’) mobile banking and internet banking is NO WHERE as good as CIBC’s. Truly impressed by what the CIBC Technology team has done, and I hope they continue to thrive while others catch up.
[Reply]