Headquartered in Toronto, Ontario, the Toronto-Dominion Bank, more popularly known as TD, is one of the Big Five banks of Canada. In fact, it is the second largest bank in the country in terms of assets and market capitalization. It provides financial products and services to 13 million clients through its 52,000 people employees in 1063 branches and 270 brokerage offices around the world.

Business Lines, Subsidiaries and Services

TD is organized into four major business lines: Canadian Personal and Commercial Banking, Wholesale Banking, Wealth Management and US Personal and Commercial Banking. The bank provides a wide array of financial products and services to its clients through these business lines and its subsidiaries, which include:

TD Canada Trust: This is the personal and commercial banking operation arm of the TD Bank. It offers a full range of banking products and services to over 10 million Canadians through over 1000 branches and 2700 ATMs. It is also the largest division of the bank. It attracts customers with its primary selling point: longer hours of operation. Most of its branches are open from 8am to 8pm from Monday to Friday and 8pm to 4pm on Saturday.

TD Banknorth: Formerly known as “Banknorth,” this subsidiary provides banking and insurance services in the northeastern region of the US. Its operating companies are strategically located in Connecticut, Maine, Massachusetts, New Hampshire and New York.

TD Ameritrade: This subsidiary is the world’s largest online brokerage with numerous online equity trades placed a day. Its services include common and preferred stocks, option trades, fixed income, mutual funds, margin lending and wealth management services.

TD Securities: This is the investment banking arm of the company. It is a strategic advisor for governments, institutions and corporations as well as an underwriter of equity and debt securities. Its key division is the trading of equity products, commodities, currencies and derivatives in financial markets all over the globe. Currently, it employs more than 3000 people in its offices in 18 key cities around the world. It remains to be the leading investment dealer in North America and is penetrating Europe and Asia.

Other subsidiaries include TD Insurance, TD Commercial Banking, TD Waterhouse (wealth and investment management), TD Meloche Monnex (insurance services and products), TD Mutual Funds and TD Asset Management.

History

The TD Bank Financial Group we know today is actually a result of a merger between two banking giants: The Bank of Toronto (founded in 1856) and The Dominion Bank (founded in 1871).

Deeply rooted in the country’s flourishing grain industry, The Bank of Toronto was established by a group of grain dealers and flour millers in Ontario in 1855. The bank enjoyed tremendous growth from a small company with a three-person staff to a large bank with a provincial bank network in a span of five years. Conversely, The Dominion Bank was set up by a group of professionals, financiers and industrialists who were eagerly trying to raise funds to build a financial institution. Its first branch was opened for business in 1871 and began competing with The Bank of Toronto in providing services to the people across central Canada.

Both banks managed to continue extending services through the years, overcoming the Great Depression and two World Wars. Rapidly, they expanded their networks as Canada’s industries flourished through the 1940s and 1950s. On February 1, 1955, the two banks merged after recognizing that a union would further help the economy of the country in the post-war era and realizing that they had similar market share. In 2000, the company acquired Canada Trust, a financial services holding firm based in London Ontario.

Online Features

Because the TD Bank is also an online bank, its official website allows its customers to make transactions in the comfort of their homes. Whatever business you can conduct in a traditional person-to-person type of banking you can also do with only a mouse and a keyboard in your hands.

If you need to apply for a credit card, visit their website and choose the one that suits your needs from its wide range of options. However, it must be noted that they only offer Visa cards. Find out more about these cards by clicking the link for the product of your choice. The rates, rewards, coverage and agreements can also be viewed by clicking the links listed on the right sidebar of the page.

You can also apply for a mortgage online. Of course, you will have to provide important information about you and the mortgage you want. The entire process usually takes up to 20 minutes to complete.

If you want to sign up for a checking or savings account, you can easily do so through the Internet as well. Every little detail is provided on the site to make it easier for you to choose the account you need. You can set up a checking or savings account.

Are you traveling or investing in the United States? You’ll be glad to know that the TD bank has a perfect plan for you. By setting up a US dollar account online, you can mange your funds a lot easier. This checking account allows you to maintain your deposits in US dollars and offers tiered rates, which grows with your balance.

The TD Bank also keeps their clients informed when it comes to foreign exchange rates and markets by regularly posting and updating their website. Visit their website to know how much your currency is worth and to find out what’s happening in the world markets.