TD Commerce Bank Reviews

Updated April 14, 2015
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TD Commerce Bank President & CEO Mike Pedersen
Mike Pedersen
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14 Employee Reviews

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  1. Stay away!

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Branch Supervisor in New York, NY
    Current Employee - Branch Supervisor in New York, NY
    Doesn't Recommend
    No opinion of CEO

    Pros

    The benefits were great as far as paid time off and health although as the years went by the co pay and deductibles were more costly

    Cons

    As a supervisor you were required to work almost every weekend and late nights

    Advice to Management

    n/a


  2. A Launch Pad More Than a Career

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Customer Service Representative in Philadelphia, PA
    Current Employee - Senior Customer Service Representative in Philadelphia, PA
    No opinion of CEO

    Pros

    Quick advancement if you want it. Great way to get a title onto your first resume. People are friendly for the most part. Full time employees receive 24 days off per year to start (see below for reason why). Flexible place to work if your in school. Part time plus lets you do 30 hours a week and get benefits (which are inexpensive).

    Cons

    Pay here is tough to swallow. They are open 361 days a year which equates to weekend shifts and working holidays other banks and gov't receive off. Management is not always the most professional. Tuition reimbursement could be more.

    Advice to Management

    Start taking the banking industry more seriously. Demand more of emplyees and pay them more for it. It seems like you allow problems to fester in the branches themselves. In turn, take decisive action and ask HR to recruit better talent.


  3. Helpful (1)

    Promises with no proper follow-thru.

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Customer Service Repr in Philadelphia, PA
    Current Employee - Senior Customer Service Repr in Philadelphia, PA
    Approves of CEO

    Pros

    Overall, the Bank is a fun place to work.most days you can go to work and have a good time. The hours are flexable and can be worked to fit your schedule pretty easily as long as you are willing to work at least some nights and weekends.

    Cons

    The system for advancing in your career at the bank is lacking at best. They have a program called CASH that is supposed to train you to move up. But, while the classes are great, once you finish the program and get certified for your given position the reality becomes that you end up being responsible for the work of the new position without the pay or promotion to back it up. Add to that that the feedback from your regional managers as to what you need to do to get promoted is non-existant.

    Advice to Management

    Make sure your CASH program participants don't feel lost in the shuffle. At the very least communicate with them as to any hold-ups with regards to their promotions, either because of the need for further development or the lack of availabe positions.


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  5. Helpful (2)

    Sometimes great, sometimes okay, sometimes they don't make a drink strong enough

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Customer Service Representative in Philadelphia, PA
    Former Employee - Customer Service Representative in Philadelphia, PA
    Doesn't Recommend
    No opinion of CEO

    Pros

    Great paid time off allowance, annual bonus, good products, friendly atmosphere, nice branch interiors, better hours than standard retail, some availability for promotion.

    Cons

    Poor health/dental benefits package, difficulty with branch employee scheduling, poor annual raises with good reviews, understaffed, difficult conversion during the bank merger.

    Advice to Management

    I no longer work for TD, but have friends and family that continue to be employed there. The largest complaint I hear from them is the annual raises given for excellect reviews (2%????). A CSR making $14/hour would receive a 2% raise of $0.28/hour - that would mean for a 40 hour work week, that employee would receive an additional $7.84/week after taxes. I would recommend at least a 4% raise for the employees, especially if the annual bonus is removed due to new sales goal conditions. The economy is down, but TD shares have risen nearly $20/share over the past few months - signs TD is doing well. It would be good to share that success with the employees, especially who appreciate a proper annual raise more than the pizza and ice cream during employee appreciation week.


  6. Helpful (1)

    TD Bank. Its a job.

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Banking Specialist I in Mount Laurel, NJ
    Current Employee - Banking Specialist I in Mount Laurel, NJ
    Doesn't Recommend
    Disapproves of CEO

    Pros

    Plenty of overtime available 4 weeks of PTO yearly Great, fun co-workers Nicely decorated and well maintained work enviorment Major highways close by for easy commuting SOME very professional, knowledgable yet down to earth leadership

    Cons

    Low pay. A customer service rep barely earns enough to get by. Need for meaningful recognition for good work, more than confetti, claping..and a balloon. Recently changed quality standards that allow small mistakes to result in constant "warnings" Low employee morale as a result of above mentioned quality standards An overall feeling among employees that nothing is good enough Too much inconsistant information between supervisors. Branches and call center need to be on the same page and stop pushing customers back and forth between the branches and call center. Higher management playing favorites. "Playing the game" should not be necessary to get ahead. Not enough leadership on the floor for reps to go to for help. This makes it necessary to keep customers on hold loo long. Leadership who will offer excuses instead of help. I could go on, but I have to get to work!

    Advice to Management

    Too much micro management and negativity. We got JD Powers 3 years running before changing quality standards.


  7. TD Commerce bank is the worse

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Teller
    Current Employee - Senior Teller
    Doesn't Recommend
    Disapproves of CEO

    Pros

    banks always sound like a great place to work at

    Cons

    the hours suck and the pay is even worse. training is horrible and the enivorment is far to young

    Advice to Management

    Pay attention to people who seem like they know everything but yet do nothing


  8. TD Bank will lose a lot of good people once the recession ends

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Customer Service Representative in New York, NY
    Current Employee - Senior Customer Service Representative in New York, NY
    Doesn't Recommend
    Disapproves of CEO

    Pros

    A variety of work schedules to choose from, no layoffs during recession at least for CSRs and tellers.

    Cons

    Low morale among employees due to post integration problems that were not acknowledged and solved fast enough by management. Poor incentive plan for all non-exempt employees. A two-tier hierarchy exists between workers (CSRs, tellers and back office personnel) and management in terms of respect, room for advancement and compensation. Management's perception of how well employees are treated is in stark contrast to employees' perception of how they are treated. The twain shall not meet!

    Advice to Management

    Hire better managers/leaders, institute recognition plans that employees appreciate not what managers think they will appreciate. Very few people really want to attend the Wow Awards this year. Paying what amounts to a mere $160.00 per quarter before taxes to CSRs for meeting their quotas is NOTHING! That is not a WOW incentive plan! Remember that how you treat your employees is a direct reflection of how you treat your customers who make profits for you.


  9. TD BANK - Lost the Commerce name AND SERVICE

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Customer Service Representative in Fort Lauderdale, FL
    Current Employee - Customer Service Representative in Fort Lauderdale, FL
    Doesn't Recommend
    Disapproves of CEO

    Pros

    PROS: -Friendly atmosphere with co-workers - Not as sales driven as other competitors - Flexible work schedules (open 7 days a week allows for part time employees) - Company culture attempts to be fun/energetic -Very solid benefits

    Cons

    CONS: - TERRIBLE PAY -Rewards for doing months of work include POTENTIALLY receiving a $25 gift card -Upper management plays favorites over more qualified candidates -Not much room to grow (opposite of what company declares CONSTANTLY) -General shift away from being customer-oriented and more towards finding ways to "fee" customers - Systems that were installed are still buggy; numerous glitches, including weeks of system being completely down which destroyed years of hard-earned reputation and status -More sales driven without any form of major compensation

    Advice to Management

    -Try to start compensating employees in a way similar to competing banks; otherwise talent will quickly leave for higher-paying jobs -Promote those that are competent, and get rid of those that cause trouble -Stop allowing management to play favorites with employees/customers -Make sure software is virtually glitch-free before switching over to brand new internal systems


  10. Get Expierance and Leave

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Teller and Customer Service Representative in Dover, DE
    Current Employee - Teller and Customer Service Representative in Dover, DE
    Disapproves of CEO

    Pros

    It was very flexi able with school schedule, had the opportunity to work as many hours as I wanted and the atmosphere was comfortable.

    Cons

    The seven day week banking, rude customers and management. Very unprofessional from senior management on down. The pay scale sucked!!!

    Advice to Management

    Give employees better pay and be more professional. Create a better professional development program for current employees and have better benefits.


  11. Helpful (2)

    Went from CSR to management

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Sales & Service Manager in Philadelphia, PA
    Former Employee - Sales & Service Manager in Philadelphia, PA
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I worked at TD Commerce Bank full-time (More than 5 years)

    Pros

    You will learn more here than you will at any bank hands down. You will literally touch with every department at some point and learn something new. Plenty of skills you can take in your next career move.

    Cons

    There is absolutely no work/life balance. Count on 50+ hours a week, plus no lunches. Plus the events that you are "encouraged" to go to. Overwhelmingly short staffed--you will get cross trained so you can do double duty and save the bank money. But you will still always be scrambling. Far too reactive instead of proactive. They let issues get out of hand before they do anything about it. They pay is bottom tier compared to other banks--because of this, you have crappy college level kids working in branches that don't care enough about their job, which results in massive amounts of turnover. Payouts are also bad because things that you can't control (charged off accounts) come out of your branch's bottom line (yet they've done nothing about it for years). Disorganized and inconsistent. One branch will tell you one thing, go up the street and they will tell you the opposite. Customer issues could have you bounced around from several different departments before you get an answer. Unrealistic sales goals, they do not factor in demographics (loan approvals in a low income area are highly unlikely) Promotions are honestly based more on if someone above you likes you. And of course, you need to move in the direction that senior management wants you to go. Make a mistake, and they ice you out. The "culture" almost feels like a cult. Wear the TD pin in public when not working and put a bumper sticker on my car? No thanks. The most telling is the fact that years ago TD sponsored bike races, cancer walks, etc. They don't do those anymore. Only can do events if it keeps you below staffing and you get to open accounts. They are really losing that connection with the community.

    Advice to Management

    CWI is not an accurate indicator of customer satisfaction. Everyone gets the same amount of shops regardless of volume which makes no sense. People are leaving in droves because they are overwhelmed and tired--and they will keep leaving unless you make some serious changes.



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