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Email this5:11 pm
October 27, 2013
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As am I. It is not difficult to have robust passwords, apply all sorts of alerts and notifications on transaction activity in one's accounts, use multi-factor authentication and stop clicking on phishing emails and in social media links. Just a bit of discipline. I sleep well at night.
7:05 pm
April 27, 2017
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Tangerine is the most trusted bank in Canada based on customer satisfaction.
1:35 am
April 21, 2022
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mordko said
Tangerine is the most trusted bank in Canada based on customer satisfaction.
Meaningless.
2:49 am
April 27, 2017
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JohnnyCash said
Meaningless.
I think it's meaningful. Both because Tangerine has ranked top for 14 years, and because of the declining trend for the big 5. And because Simplii also scores much higher than the big 5.
https://www.jdpower.com/busine.....tion-study
The meaning shouldn’t be misinterpreted though; this does not mean Tang is the best bank for your needs. Just means that for the services offered by Tang, it does a good job so that customer experience is seamless.
Of the big 5/brick&mortar I have experience with RBC and TD. And my experience aligned with the scores; TD is an error-ridden pain. TD pays great bribes but this type of marketing only works if the product is good.
I left brick and mortar in 95 for First Direct (UK, a subsidiary of HSBC). As it happens, First Direct consistently tops British customer satisfaction charts.
I think that based on these surveys it's fair to say that online banks can do a good job for their clients. In comparison, someone on the internet claiming that all his friends have had terrible problems with online banks really is meaningless.
7:48 am
January 7, 2020
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Bill said
RetirEd, thanks, kinda what I figured.Among my friends, family, work peers, acquaintances, etc, the exact opposite is my personal experience, i.e. I've never heard of anyone who's had even close to one horror story. And media stories are irrelevant to me, a few people out of the trillions of online transactions mean zero to me, especially because when you find out more details it's usually the case they're at least partly and often wholly at fault. So I'm quite content to carry on as I always have.
Bill, just to share my own experience:
For starters, I agree with your philosophy here. I do worry at times, but haven't changed my basic approach at all-- using money transfers constantly
However-- I have actually been hacked -- twice!
Both times my Wells Fargo account in USA
They replaced my money, pretty readily, but it still felt agonizing.
They never gave me any explanation--they sure didn't notice it until I called
I'm satisfied I did nothing to enable it-- my perspective was that it was an "inside job"-- which could explain their reticence to give any explanation at all
I was actually surprised how readily they accepted my report-- thought for sure they would think I was a crook.
I don't have an account at Wells Fargo any more-- although I did for many years before these incidents
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