I wanted to start my own business and needed a letter of credit from the bank. I asked Vancity and Bank of Montreal about the letter of credit for my business license and they told me its going to take eight business days to process. However, TD bank of Canada told me it only takes four to latest five business days to send the letter of credit. Based on this offer, I opened a business account with TD and purchased a credit card and a pose machine on March 3rd. I deposited $10,000 bank draft cheque to my new td business account for the letter of credit. On March 3rd, TD started to check my credit scores and ruined my credit. Even though Td's rate and fees are higher than other major Canadian banks, I decided to work with TD only because they promised to process the letter of credit sooner than other banks. Based on their promise, I set up my business to start on March 16,2015, but on March 13, 2015 I realized they did not issue the letter of credit for me yet. The small business account manager, Ranjeet Sandhu , who promised the letter of credit within 4-5 days, told me on March 13 that he is going to call the head office to find out why they did not send the letter of credit yet. He phoned me that they are going to issue the letter of credit next week which means over 15 days for the whole process. When I asked him who is responsible for my losses like rent of my business place, and other business expenses that is $300 a day, he said he can only give me credits for two months service fees for my business account that is $25 a month. I was very disappointed and frustrated and decided to talk to the branch manager. The branch manager, Paul Adkins said "it is what it is, and we are sorry we cannot do anything for you". At this moment that I'm writing this letter, I am not able to open my business yet since TD bank of Canada did not send my letter of credit (as promised) yet and I have to pay all the daily expenses for my business that is not opened yet!!! TD bank of Canada has the worst customer service and is not willing to help any of his customers. DON'T GET FOOLED WITH TD BANK OF CANADA'S PROMISES. read more