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Email thisWebsite: https://www.ctfs.com
Headquarters: Oakville, Ontario
Parent company: Canadian Tire (80%) and Scotiabank (20%)
Credit union? No
Available to Quebec residents? No
Founded in: 2003
Disclaimer: Although our best efforts are made, the information posted on this website is not guaranteed to be accurate. Please visit their website for authoritative information.
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Latest discussions about Canadian Tire Bank -- view all
| Forum/Topic | Started | Last post | Posts |
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Canadian Tire |
January 5, 2024 |
September 26, 2024 |
16 |
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Canadian Tire |
November 19, 2023 |
November 20, 2023 |
7 |
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Canadian Tire |
August 8, 2022 |
October 15, 2023 |
21 |
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Canadian Tire |
July 24, 2023 |
August 15, 2023 |
6 |
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Canadian Tire Is it possible to use Interac transfer with CT Bank accounts |
November 9, 2020 |
August 8, 2023 |
9 |
Customer service: Rated 1 / 5 stars
Account features: Rated 1 / 5 stars
Interest rates (consistency and amount): Rated 1 / 5 stars
Fees: Rated 1 / 5 stars
Interface (online, telephone, in-person, etc.): Rated 1 / 5 stars
How long have you banked with them?: 20 years
Why do you bank with them?: Used to be not that bad, but went completely disgusting recently.
What do you like about this bank / credit union?: Nothing. Just a mickey-mouse outfit pretending to be a bank.
What could be improved about this bank / credit union?: I believe only bankruptcy can improve it
General comments: Absolutely disgusting! Arrogant and incompetent customer service unable to resolve anything.
Review by Michael — September 13, 2024 @ 11:54 pm
Customer service: Rated 1 / 5 stars
Account features: Rated 2 / 5 stars
Interest rates (consistency and amount): Rated 2 / 5 stars
Fees: Rated 2 / 5 stars
Interface (online, telephone, in-person, etc.): Rated 2 / 5 stars
How long have you banked with them?: 1 yr
Why do you bank with them?: I dont know
What do you like about this bank / credit union?: nothing
What could be improved about this bank / credit union?: nearly everything
General comments: Applied for Mastercard online and after filling out the application successfully, I hit the SUBMIT button and all it says is 'Oops...we could not process your request'. Called CTFS support 1st time hung up on 2nd time) Went through all the monkey-script troublehsooting steps with their support (which fixed nothing) - then told 'they would look into it and call me back'....never did 3) called and tried to run me throught the monkey-script again and I escalated to supervisor who retraced the monkey-script, told me nothing was wrong with their system BUT 'it doesnt seem to work for some people' (sounds broken to me!) and then told me to a) drive to a store b) NOT get the application bonus because the store cannot provide it c) chase them later trying to recoup that missing incentive... Um...no...card cancelled. Absolutely NO concept of what customer service is.. RUNAWAY!!! ....and I got suckered to try them again 1 yr later and guess what 1) rewards points stolen less than a week of getting M/C 2) 7 calls/5 weeks of talking to them to get everything sorted...and I still cant get this all sorted.
Review by Morereasons TohateCT — June 17, 2024 @ 4:57 pm
Customer service: Rated 1 / 5 stars
Account features: Rated 2 / 5 stars
Interest rates (consistency and amount): Rated 2 / 5 stars
Fees: Rated 2 / 5 stars
Interface (online, telephone, in-person, etc.): Rated 1 / 5 stars
How long have you banked with them?: 3 months
Why do you bank with them?: I dont know
What do you like about this bank / credit union?: could get Ct bonus points
What could be improved about this bank / credit union?: TERRIBLE customer service
General comments: HORRIBLE client services team that dont seem to possess basic comprhension skills. I've been tgied up by them for a 2nd week in regards to straigtening out my CT reward account being hacked and having to involve their M/C team because I made the mistake of getting one of their credit cards (which thankfully hasnt been compromised...yet) I have to keep repeating myself and every time it requires independant thought i.e. not something listed on their list of pre-canned questions/answers, the conversation falls apart.
Review by Morereasons TohateCT — May 28, 2024 @ 11:44 am
Customer service: Rated 1 / 5 stars
Account features: Rated 3 / 5 stars
Interest rates (consistency and amount): Rated 4 / 5 stars
Fees:
Interface (online, telephone, in-person, etc.): Rated 1 / 5 stars
How long have you banked with them?: 14 years
Why do you bank with them?: Only for the high interest savings account.
What do you like about this bank / credit union?: Their interest rates, although not very high, they are consistent.
What could be improved about this bank / credit union?: Their help. If you call them, there is no dedicated option for the financial institution. You get the Canadian Tire store and you get asked for some credit card number which I don't have. There is no easy way to connect to a live agent. Somehow I managed to connect to an agent by typing an incorrect card number or pressing 0, but both times they failed to help me. First agent couldn't hear me (must have been on mute), second one was trying to help me but must have put me on hold or disconnected me. When I send them an email asking them to call me, they said they can't do that and asked me call their number.
General comments: Because I couldn't get help when I needed it, they lost me as a customer.
Review by Richard — February 18, 2023 @ 9:18 am
Customer service: Rated 1 / 5 stars
Account features: Rated 2 / 5 stars
Interest rates (consistency and amount): Rated 1 / 5 stars
Fees: Rated 1 / 5 stars
Interface (online, telephone, in-person, etc.): Rated 1 / 5 stars
How long have you banked with them?: Five years
Why do you bank with them?: Don't know. Thought Canadian was better BOY was I wrong
What do you like about this bank / credit union?: Nothing
What could be improved about this bank / credit union?: When you wait 65 mins for someone to talk to and the automatic director says push 1 for service in english I expect someone that can do both
General comments: How you lose my address after mailing my bills to the same address for 5years I will never know !, To give my info to someone 9 times on the phone shows me that EVERYONE there is incompetent
Review by Thomas Day — November 28, 2022 @ 11:33 am
Customer service: Rated 3 / 5 stars
Account features: Rated 3 / 5 stars
Interest rates (consistency and amount): Rated 2 / 5 stars
Fees: Rated 1 / 5 stars
Interface (online, telephone, in-person, etc.): Rated 1 / 5 stars
How long have you banked with them?: 5+ Years
Why do you bank with them?: Credit Card Offer
What do you like about this bank / credit union?: Points System
What could be improved about this bank / credit union?: Pandemic Response
General comments: This bank has got to be one of the worst when it comes to seeing things from the customer's perspective. When the pandemic hit they gave individuals 6 months... SIX ...of interest free payments on their principal balance. After that they went back to full interest payments regardless of your income status. They call constantly (once or twice a day) if you don't (aka. can't) make your payments and are extremely cold in dealing debtors. Even if you try to work with them, to make some kind of payment, it won't do anything to help your situation. It'll just get swallowed up in interest fees. Finally they'll escalate it to in-house collections which will garnish your wages, regardless if you can afford it or not. In short, this bank doesn't give a crap about you. AVOID AT ALL COSTS.
Review by Jason R — March 7, 2022 @ 2:34 pm
Customer service: Rated 4 / 5 stars
Account features: Rated 3 / 5 stars
Interest rates (consistency and amount): Rated 5 / 5 stars
Fees: Rated 4 / 5 stars
Interface (online, telephone, in-person, etc.): Rated 3 / 5 stars
How long have you banked with them?: 8 or 9 years
Why do you bank with them?: Interest rate (had the highest in Canada when first started with them, and they're pretty consistently good).
What do you like about this bank / credit union?: interest rate. consistently pretty good.
What could be improved about this bank / credit union?: they're a basic and simple online Bank. Not much they need to do ... and not much that I need from them.
General comments: see above
Review by GHH — January 16, 2022 @ 5:14 pm
Customer service: Rated 3 / 5 stars
Account features: Rated 2 / 5 stars
Interest rates (consistency and amount): Rated 3 / 5 stars
Fees: Rated 5 / 5 stars
Interface (online, telephone, in-person, etc.): Rated 2 / 5 stars
How long have you banked with them?: 7 months
Why do you bank with them?: Increase credit score
What do you like about this bank / credit union?: Nothing
What could be improved about this bank / credit union?: When a customer your available credit should be bassed off your payments and not your credit... judge me on how im doing not how i did when younger and stupider
General comments: Being a customer for over 6 months i had figured that my available credit would have gone up from a measly 200$ but nope not at all pay off the whole amount every month not just the minimum requirement but guess my loyalty isint good enought
Review by Sebastien rivard — December 4, 2021 @ 4:02 pm
Customer service: Rated 4 / 5 stars
Account features: Rated 4 / 5 stars
Interest rates (consistency and amount): Rated 4 / 5 stars
Fees: Rated 5 / 5 stars
Interface (online, telephone, in-person, etc.): Rated 1 / 5 stars
How long have you banked with them?: I have been trying to open a savings account with them for two months. Still not set up. A week ago, my startup cheque cleared my bricks and mortar bank, so I hope I hear from Canadian Tire soon …
Why do you bank with them?: I wanted the account for its higher interest rate; higher than that of competitors. They have lowered their rate, however, while I have been waiting … and waiting.
What do you like about this bank / credit union?: The guy I spoke to on the phone, to report that I had not received my initial package, was nice enough. However, he blamed the lost snail mail on my address. I’ve been using the same way of listing my address for 30 years. No previous lost mail issues. Makes me wonder how badly they want new customers.
What could be improved about this bank / credit union?: Snap it up! No excuse for it to take so long to set up an account. I initiated the process to setup three HISAs online on the same day in May 2021. The first account was setup within minutes, with everything done online. The second account, which required a cheque that I sent through snail mail, has been setup for almost six weeks. Meanwhile, I am still waiting on Canadian Tire Bank.
General comments: Wouldn’t recommend for impatient people, especially since they have now lowered their interest rate.
Review by Pam — July 20, 2021 @ 4:21 pm
Customer service: Rated 4 / 5 stars
Account features: Rated 3 / 5 stars
Interest rates (consistency and amount):
Fees: Rated 5 / 5 stars
Interface (online, telephone, in-person, etc.): Rated 3 / 5 stars
How long have you banked with them?: Many years
Why do you bank with them?: Highest rates. Backed up by one of Canada's largest retailers.
What do you like about this bank / credit union?: Transfers to and from CT to our bank accounts is speedy and accurate. A strength.
What could be improved about this bank / credit union?: Their GIC's: not really competitive. As well, they auto-renew GIC's unless you call them - that's terrible, especially with low rates. Web site is weak. Login space needs to be a lot larger, especially for older eyes. Most other online banks send an email to notify of transfers taking place. Not CT.
General comments: Had a joint account. Wanted to add separate accounts. Called them and they completed the set up of two individual accounts in 5 minutes. Excellent.
Review by Alan — July 14, 2021 @ 10:18 am
Customer service: Rated 1 / 5 stars
Account features: Rated 1 / 5 stars
Interest rates (consistency and amount): Rated 1 / 5 stars
Fees: Rated 1 / 5 stars
Interface (online, telephone, in-person, etc.): Rated 1 / 5 stars
How long have you banked with them?: Credit card with CT for 40 years
Why do you bank with them?: Wanted to open a TFSA and Hi interest Savings account but was unable to
What do you like about this bank / credit union?: Nothing
What could be improved about this bank / credit union?: Actually exist
General comments: Opening an account took forever and ultimately I gave up; just a waste of time. Stick w banks that actually exist; ones you can walk into.
Review by Marshall Vandenboom — June 17, 2021 @ 2:31 pm
Customer service: Rated 1 / 5 stars
Account features:
Interest rates (consistency and amount):
Fees:
Interface (online, telephone, in-person, etc.): Rated 1 / 5 stars
How long have you banked with them?: I was completely unable to open an account
Why do you bank with them?: I don't, because I simply couldn't get them to open an account without a physical cheque, which I haven't had for over a decade.
What do you like about this bank / credit union?: Highest interest rate in Canada
What could be improved about this bank / credit union?: They don't have any way to open an account without sending them a physical cheque from an existing account. If you don't have those (I haven't used a physical cheque in over a decade), it's not possible to open an account. This is in stark contrast to every other bank out there that can link your accounts entirely electronically. It is extremely odd to find an "online" bank, that operates 100% by mailing forms back and forth, and that can't figure out how to do anything electronically. It feels like it's 1994 all over again, only the rest of the world has moved on.
General comments: Great idea, impossible implementation. I've never seen a bank that makes it this difficult to simply open an account.
Review by Roger — April 20, 2021 @ 9:25 am