TD Bank in the Northeastern USA (including New York)

[Long Island Mike]

Everyone: I figured that this would be the best place to post this topic-Recently TD BankNorth in the USA took over Commerce Bank giving Toronto Dominion 575 branches primarily in Metro NYC,New Jersey,Metro Philadelphia,Metro Washington,DC and Southeast Florida.

In Sunday 11/2 New York Times in the main news section-page 25 TD Advertised in a full page color ad:

WELCOME TO AMERICA'S MOST CONVENIENT BANK! COMMERCE BANK AND TD BANKNORTH IN THE MIDDLE ATLANTIC IS NOW TD BANK! Pics of spokespeople Regis Philbin and Kelly Ripa(From Commerce Bank's promotions)
appear noting they are open 7 days-legendary service and hassle free banking. Their web page is: www.TDBank.com/

Is this the biggest entry a Canadian bank has made in the US Market?
Long Island Mike

 

[grey]

I'm pretty sure BMO has the largest share of the US market out of the Big Five. They own Harris Bank in Chicago and more recently acquired GKST, making them the sixth largest bond dealer in the nation. They also bought First National Bank & Trust in Indiana, Merchants and Manufacturers Bancorporation, Inc. and Ozaukee Bank in Wisconsin in 2007.

 

[Edward Skira]

I'm pretty sure TD and Royal are both larger in the US. BMO was first but hasn't done much since buying Harris. TD also owns 40% or TD Ameritrade, which is the second or third largest discount brokerage in the US.

 

[grey]

I'm not really sure where TD stands, tbqhwy. I've always been under the impression that BMO and CIBC had the strongest footholds in the US, while Scotia has Latin America and RBC has China (BMO's growing there, too.. everyone is, I guess) and some of Europe. It's very possible that I'm thinking in terms relative to the size of each company, which is very different.

Financial colonialism!

 

[khris]

It's too bad that they had to shorten their names to TD and BMO, etc.

 

[simply Dan]

TD Bank Financial Group now has more retail bank branches in the Unites States than in Canada. I really like the re-branding (green shield, silver lettering on black) and would love to see that expanded into Canada.

Canadian banks have more market share in the U.S. than most Americans realize I think, and this is a trend that will continue in the future. TD is not the only Canadian financial institution that has aggressive U.S. expansion plans.

 

[ShonTron]

If I take money out of an American TD bank, do I avoid bank charges if I am a TD Canada Trust customer?

CIBC? Ha ha ha ha.

 

[simply Dan]

Yes. As a TD Canada Trust client, you have unlimited use of all TD machines anywhere in the world for free.

 

[Filip]

Are you sure?

I was originally supposed to do my exchange in Santiago de Chile, where Scotiabank (my bank) has significantly large market share. Apparently, it costs me 5 bucks to withdraw from the Scotiabank ABMs there. Bullshit.

 

[simply Dan]

I never mentioned Scotiabank. TD offers its clients free unlimited access to all of its international machines.

 

[Edward Skira]

Are you sure?

I was originally supposed to do my exchange in Santiago de Chile, where Scotiabank (my bank) has significantly large market share. Apparently, it costs me 5 bucks to withdraw from the Scotiabank ABMs there. Bullshit.

I was able to take money from Scotiabank in Mexico with no fee. The statement freaked me out when I got it. Said I had $30,000 in the bank at the time. Turns out it was expressed in pesos. Oh well.

 

[Dan416]

I wish the TD Canada Trust would rename itself TD Bank as well. What was TD called before it merged with Canada Trust anyway? I mean obviously it was Toronto-Dominion Bank. But what did the signs say? TD Bank? TD Toronto-Dominion Bank?

 

[Observer Walt]

I haven't gone researching figures but I think TD is now the largest Canadian bank in the U.S. Royal is involved in the southeastern States under the name Centura, and Bank of Montreal is in the Chicago area under the name Harris Bank. Royal ran into some problems with Centura, relating to mortgages, and I think they have pretty much put the brakes on further growth for now.

CIBC went heavily into the investment dealer side as opposed to retail banking. I think they have since regretted it. Scotiabank is the only one of the big banks not to make much of a commitment to the U.S. They have concentrated on Latin America.

 

[Dan416]

Apparently the Centura name is no more. In the US, RBC is just RBC Bank. And TD in the US is just TD Bank. Personally I think those are adequate names for their US operations. TD Canada Trust may as well be called TD Bank. As for RBC Royal Bank, the name is kind of unwieldly, but everyone just calls it either RBC or Royal Bank. I wouldn't like to call it RBC Bank here.

 

[ian]

What was TD called before it merged with Canada Trust anyway? I mean obviously it was Toronto-Dominion Bank. But what did the signs say? TD Bank? TD Toronto-Dominion Bank?

It was called "TD Bank". You can dig up some historical pictures on their corporate site: