TD Bank or Royal Bank

[dreamy]

Which bank is better - TD Bank or Royal Bank?
which bank is safest?

[Jason]

I don't think there is much difference between RBC and TD. RBC has bigger market share (the biggest Canadian bank). As for safest nobody knows which one is better and the only think you can count on is that if one of those banks is to go under the Canadian government will respond with "too big to fail" approach ;).

[Canadian]

I haven't banked with TD bank, but I bank with Royal Bank and they seem to be OK, not great, but OK.

[sunshine]

TD Bank is fine. I mean what is the difference anyway. I agree with Jason. I don't think any Canadian bank will fail.

[BankAdmin]

When choosing a bank make sure that the bank's deposits are insured by Canada Deposit Insurance Corporation.

[bronto18]

I bank with neither TD Bank nor Royal Bank. All my money are in CIBC but recently I started to think of withdrawing them... I already started a thread about this. I am losing confidence.

[Jason]

I bank with neither TD Bank nor Royal Bank. All my money are in CIBC but recently I started to think of withdrawing them... I already started a thread about this. I am losing confidence.

What exactly worries you about CIBC? I know that they had some huge writedowns, but I'm not sure if they still have problems?

[Steven]

I think that the big 5 Canadian banks are "too big to fail" and if any of them is in trouble it will be bailed out right away, so it doesn't really make any difference which bank you do business with.

[Ranana_veitty]

if the bank holds a deposit and you have checks come in while they are holding that deposit, what happens?? Do they cover the checks and charge you overdraft fees???

[Canadian]

if the bank holds a deposit and you have checks come in while they are holding that deposit, what happens?? Do they cover the checks and charge you overdraft fees???

I'm not sure I understand your question. Can you please clartify?