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Brace yourself for some unusual fees from your bank

Globe and Mail Update

New fees and charges mean new reasons to shop around ...Read the full article

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  1. Jennifer F from Canada writes: Last Friday I received the letter in question from TD letting me know that I'd be expected to pay a $35 inactivity fee on my unsecured line of credit. Let's just say the air around me turned blue.

    About 10 years ago, I switched all my main banking over to a 'kiosk' bank because I was receiving lousy service from TD, but kept the LOC I'd had with them since '95, 'just in case'. Since '00 I haven't even used or carried a balance on the LOC (which I recognize makes me a bad customer), but this really is the straw that broke this camel's back and my final tie to TD.

    As of this week, I am no longer a TD customer and have even redirected any remaining RRSPs I had with TD Financial to another investment house.

    TD should consider this a mammoth mistake similar to the poor customer service they delivered following their merger with Canada Trust, that caused a mass customer exodus.

    Sheesh! What some (short-sighted) people will do for a buck.

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