TD bank or TD merchant service - Big cheating -- TD bank or TD merchant service

Posted on Sunday, June 19th, 2005 at 12:00am CDT by 56f30aa6

Company: TD bank or TD merchant service

Category: Business, Finances

Hi Host, I am very angry and regret and unhappy about TD merchant and bank services. But I can't do nothing to help now after signed the contract!!! It locked me for 3 years!!! Okay, here's my story begin. I finished my contract work Jan. 2005. Before I found a new job, I decided to start a small business with my boyfriend. Both of us are first time new entrepreneurs, we basically don't know anything about setup business. After we registered our business, we received a letter from a TD merchant representative. In the letter, she asked us to setup a merchant account and we can be able to accept credit card payment. I think it's a good idea and I called her. Then my nightmare began... 1. When this sales lady came, she told me she is very busy only has half hour. During the process, she is very rush and didn't explain anything on the contract. She just used 10 minute fill out our information on the contract and asked us to sign. I asked her if there is any monthly fee for enroll this service. She said that only $5 each months. When I briefly look thru the contract, she just kept rush me. Since English is my 2nd language, and contract are so many pages, and most importantly I trusted her ( I think she is represant a big bank, she won't lie). I signed without look carefully. Then, after the month end statement came. I was totally shocked. It's $10 for each majoy credit card, and $5 for bank service. totally , almost $40 monthly service fee. I know I made mistake to have this bad result. However, I don't understand why TD merchant servie don't monitor their representative's service? What kind of ethic they have? 2. And after she collected the contract copy, she has never contact me to let me know what to do next. So, I was struggling and try to understand what gonna happy next. I called the TD call center to ask help. Then told me they can't give me any information, because First Data company is their merchant service retailer. So I should contact them. Those days, I normally spend 4 hours on the phone and being transfered back and forth to try to get an answer. 3. I was so angry and felt being ripped off. For over 1 month I still didn't get my information package

mailed in. I got that contract lady's supervisor's phone No. and called him to complain her service. It

turned out this is a BC cell phone No. So, I guess he is a self-employed sale represatitive too. Anyway, I left message and ask him to contact me. Then the most irritating thing happend. 3 days later, that contract lady called me back and unhappily questioned me: " my supervisor told me your complain, I wanna know what happend!!" OU, my God, I wasn't even expect she knew my complain about herself. I was expect her supervisor talk to me directly and solve the problem. Now, my complain just bet my own ass. This is not the way suppose to go. How professional this is??? Now, I'm stuck with nasty TD for 3 years. Even I've never used TD merchant or bank service, but I still have to pay the monthly fee. Everything is too late after the contract. I didn't expect such poor service from TD merchant/ bank or first data merchant. But how do I know this gonna happen. This is a lesson for me. I'll never touch TD again. It's surprising to see that TD bank grows so fast now. But how could this company stay in this business with a such poor foundation? I call it "Bulb phenomenon".

It will clash in the near future if they do business

like this!!! A Cheated Customer


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329208e0, 2009-02-05, 07:47AM CST

Nothing to do with the above issues, but appropos to dissatisfaction with TD BANK.

My wife and I were Commerce Bank customers in New Jersey, USA. We had no problem when TD (which had no previous local presense) bought out commerce, but were very disappointed that the first thing the new foreign-owned bank did was to remove the red-white-and-blue logo to replace it with green. That seems both disrespectful and short-sighted for a foriegn corporation hoping to benefit by the goodwill (and commerce) of a US population.

I realize that I'm on a Canadian-based website, but I just wanted to put my two cents out there...I'll decide what to do with my account in the coming months.

Thank you for hearing me out.

Dave Brown

c0b43278, 2010-03-27, 07:56AM CDT

I also got different problems from TD bank a few years ago. I really can not trust this bank any more.

fe8b10f8, 2010-11-26, 01:18AM CST

While it's definitely understandable that you have received bad service and it's unfortunate... but maybe you should have done some homework? Why would you sign something on the dotted line you didn't read? No one can force you or rush you to sign anything. I'm sure you could've took her card and tell her to leave the contract with you and ask a friend to help you read if english is not your first language. Only 5$ a month? If something is too good to be true, chances are.. it is too good to be true.

8087e10c, 2013-11-12, 07:01PM CST

I used the TD merchant service for three years and another company approach me and show how i could save money, I signed up and call Td merchnts services to cancel and they advised me that my contract just renewed and there will be a $250 fee to cancel, 3 days after my renewal date, I call this poor business

Conrad C., 2014-07-14, 02:47AM CDT

I had similar company approach me with comparison, but they were honest and told me I won't save much by switching, since TD gave me a great rate. Chase Paymentech is the only competitor that comes close, but I have to sign up for CFIB membership to get that rate and less aggressive terms and condition with Chase.

TD is so far, most economical and easy to deal with. No fancy hidden fees, no complex terms, and now their service is in-house. No more First Data. I'm glad this complaint came up. It reminded me to be critical of even the bigger banks.

Apparently, the other banks in Canada uses a third party payment processor as well. Scotia Bank uses Chase Paymentech. Royal Bank uses Moneris ... Avoid anybody using Global. I would like to switch to Paymentech, as they have more integration options, but terms, conditions, and time to response, along with negative history south of Canada doesn't give the warm fuzzy.

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