The most disgusting thing about Td Canada trust’s balance protection insurance on the Td Visa credit card is:

:that when you don’t have any money, when you owe them money on your Td Visa credit card, when you are carrying a balance, THAT is when the extra money for this useless premium gets tacked on- when you are in debt…


In January of 2004, I was sold balance protection insurance on my Td Visa card while calling in to re-activate my card…I was NOT told that self-employed people were excluded from the policy…I did not receive anything in writing concerning the policy, & because it only appears on statements if you carry a balance, nothing came up on my credit card statements indicating anything about this policy…So I forgot I even had this…In August of 2011, my husband discovered a charge on my credit card that merely said “Balance Protection” (the word “insurance” does not get printed on the statement)…I suppose this is how we both missed these charges on our statements…I called to claim an unauthorized charge & found out that I had this weird insurance policy, & that $2,684.70 plus interest had been taken from my Td Visa card over the years, without me realizing it…That is when I found out that self-employed people cannot make a claim…(I had thought at the time of discovering this policy, that I might make a claim anyway, to get my monies back)…I asked for a refund…I have been refused 4 times- once by Td Insurance Indra Satram, once by Td Insurance Michael Brunette, once by Assurant Solutions the underwriter Michael Castonguay, once by Mireille Mishriky the associate Td bank ombudsperson in Montreal…
I have been told by the OLHI (The Ombudservice for Life & health Insurance) that I deserve a refund based on the fact that a self-employed person is excluded from the policy & that I should not have been sold this policy…I have been told by a lawyer that the contract is “Void Abinitio” or void from the beginning, & that all monies should be rescinded back to the original position…I am also now aware of thousands & thousands of other people who have been MISSOLD credit card protection insurance…I found out credit insurance called PPI in England (payment protector insurance) has been BANNED in ENGLAND…I found several class action lawsuits in the States where money is being refunded to consumers as we speak…For example, Providien refunded over a 100 million dollars in 2001 in San Francisco alone in payment protection insurance that was missold…In fact the main brunt of all these cases is that the policy was sold to people who do NOT qualify to make a claim…These include the self-employed, the jobless, seasonal workers, part-time workers, students, the retired, thoe who did not have a job when saying yes over the phone, those already disabled when they said yes…
This balance protection insurance brings in millions of dollars of revenue to banks, while not having to pay out any claims, since most people they sell to cannot qualify to make a claim…It is time for Canadians to take action against credit protection insurance, & refund monies back to those who have been cheated…One of the worst parts about balance protection insurance is that it only charges you when you are in debt- thus adding to your debt load…When we discovered this charge recently, we realized our only debt was the entire cost of the very very expensive premiums accrued over the years…$2,684.70 plus interest was the whole debt load we were carrying- on a product that was supposed to help relieve us of debt in the event that we couldn’t pay back our credit card ourselves…Both my husband & I check our statements- it is not from laziness that we didn’t flag these charges before…It is carefully buried at the bottom of statements, & because the word “insurance” is not used, it looks like a banking fee- like an annual fee or some transaction fee…The whole thing is carefully designed to deceive…Please regulate if you can…I myself have already helped others by publishing information that I have learned on my blogs or websites- but I am still stymied by TD Canada trust bank’s unwillingness to admit their mistake & wrongdoing…(AS a sidenote, BMO Bank of Montreal has been giving refunds regularly to those who complain- it appears that BMO is aware of the corruption & is trying to make amends…TD bank no…But there are other banks in the Canadian market still selling this thing…It is wrong & it has to stop…)
I have contacted other agencies about this, & am trying to be thorough by contacting the Competition Bureau…I read a favorable article by Ellen Roseman about Melanie Aitken & decided to write here…

The Commissioner of the Financial Consumer Agency of Canada, Ursula Menke, can be of help too…The FCAC handles Federal complaints which are necessary because banks try to slime out of FSCO (Financial Services Commission of Ontario) penalties by citing that the Bank Act supersedes the provincial body…Ironically, TD bank has also slimed out of OBSI(Ombudsman for Banking & Investment Services) jurisdiction recently (NOV. 1st, 2011), by getting an exclusion from government regulation…TD bank now says to forward problems to the privately owned ADR Chambers company- who have no systemic punishment capability & who you can pay to get better service…Can you spell “JOKE” ?…My advice is to hire a lawyer & sue them hard till they bleed honesty & repentance…

Above is me reading the letter saying I am getting my money back…

Below, is me reading the release form I had to sign…(still haven’t seen any money though?)


About GroveCanada

The Nidi Academy teaches you how to do your own imaging, especially to see if cancer is present-without a biopsy! Come join me there! http://Nidi.Work Artist Statement: I like to push...Push the fold...Innovate...Figure out how to do something then figure out how to do it even better...I get bored once I accomplish something...I can’t seem to make multiples...Once it is done, it is done ; I am not going to make another one...This can hurt profitability...But I feel the paradigm of repetitive production is obsolete...I see a future where pure intellectual innovation will be rewarded without the need to commercialize it somehow...I wonder about the Star Trek idea of a new culture where money is not the driving force...I live that future already... Bio: Sari is an optimist by nature, someone who always sees the sunny side of things, even if there is no sunny side really...She grew up with two wonderful parents & a great brother...Later she married the very best guy in the world, another artist named Joseph Grove...She likes art because it is for her a happy place to be...A place where joy can reside...So she decided to make art herself because that was the nicest thing she thought she could do for people’s lives...I’d tell you more about angst or strife or misery or struggling, but really, that was not the case...But perhaps, because I am Sari ; I am writing this, my perception is warped by my extreme positivity...But, to tell you the truth, life has been good... p.s.You can read more about my credentials on my main website at ...But I have left a few things out, credential-wise... My feeling is:"By their fruits, ye shall know them" which is from the New Testament, Book of Mathew(7, 16-20)... So read my books ; see if the fruit tastes good to you...I feel those are better credentials than telling you something on a resume... p.p.s. I am a Christian...Whatever that word means to you...
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31 Responses to The most disgusting thing about Td Canada trust’s balance protection insurance on the Td Visa credit card is:

  1. Anonymous says:

    I didn’t even ask for the balance protection and I received a letter stating that I now have the balance protection plan. WTF is this. SCREW that. I will be cancelling.

  2. Irene says:

    I am a person who’s been cheated from this fraud called balance protection insurance when every I call or speak to someone with Assurant solutions Or fill summit documents they are always declining me.

    I need help I have a credit card that is 10,000 and they refuse me since I was self employed for less then a year is this right ?
    Why have I paid this balance protection insurance for the past few years giving them over 7,000 to be protected if I can’t get help in times of need.

    Thank you

  3. George Trienis says:

    The service rep literally told me that I had no choice but to agree to get this insurance policy and that it would not have any additional charges. It was an absolute LIE! And I think it is outright illegal!

    • GroveCanada says:

      It is illegal…File a complaint with the FSCO & they will get the money back…It takes a long time for them to get through the pile, but once they respond…That’s how we got ours back…It was over a year later though…But the FSCO complaint came through…Financial services commission of Ontario

    • Brendan Kennedy says:


      I work at a law firm in Toronto and am interested in your situation. Please contact our office at 416-782-0007 and ask for Brendan.

  4. Adel Babataher says:

    Did you ever end up getting your money back? I think I am being screwed big time by this…probably $5k+ over the last few years.

    • GroveCanada says:

      yes, FSCO finally got around to calling them to see if we got a refund & that is when they “spontaneously” decided to return our money…Financial services commission of ontario(we had filed an official complaint(from their website) the year before)…

  5. Mehwish says:

    Hello, I was going through my bank statements yesterday and something caught my attention which was balance protection insurance. I have this activated since 2007. 2013 was the year when I used my td credit card a lot and got the balance of around 7000$ and since then I have been charged 100$ and more every month. I didnt know what this balance protection thing was and assumed it was one of the credit card charges. I am currently in Montreal and I really want a way out so I could get my money back. Please help me what procedures I need to follow. Your article was a great help though!

    • GroveCanada says:

      We filed an official online complaint with the FSCO financial services commission of Ontario-& though it took them a whole year to get to our file, they were the ones that scared the bank into giving us our money back…I suggest you also file an official complaint with the same body in Quebec-it should be called the Financial services commission of Quebec or something similar-don’t just send an email, they should have some sort of official form to fill out…Bother to jump through that particular hoop…We actually did everything we could think of including using the media…But the financial services commission for the province scared them…Not much else did…

    • GroveCanada says:

      File an official complaint with whatever the government financial services body is called in Quebec…It takes a really long time…Do an official complaint on their website if you can find it…

    • Eric Szeto says:

      Hi Mehwish,

      I’m a journalist at CBC and doing research into this topic. Would be great to learn more about your experience if you have a few minutes to speak.

      Please email me at

    • Brendan Kennedy says:


      I work at a law firm in Toronto and am interested in your situation. Please contact our office at 416-782-0007 and ask for Brendan.

      Thank you.

      • Anonymous says:

        I had a CIBC Aeroplan VISA. They switched it to a TD Aeroplan Visa without my request. Mostly paid my card completely every month. When I had no income for the first time in my life I started to carry a balance. One day I was trying to figure out how I’m going to get my card back on track, I noticed this $100 fee. I called and they said I has signed for this, not sure how I consented if I didn’t even ask for TD Visa in the first place. The new TD Visa card was mailed to me (and I was annoyed to have to go through the pain of changing auto-withdrawals etc. for no good reason of my own). The person on the TD call made it seem like I would be missing out by cancelling the payment protection, isaying it was no longer offered t by the bank and basically thaI would not be able to get it again if I cancelled it. I didn’t cancel because I wanted to look into it further. I haven’t gone back yet to see how much I’ve lost to this, but probably over $1500 at least.

  6. GroveCanada says:

    I wrote about the equivalent of a novel telling the whole story as I recalled it from beginning to end, thinking that would help my case…I am guessing something shorter & more to the point might have been fine too…Give them whatever you can…I am guessing bank statements would be very helpful to them-I took pictures of documents with my digital camera set to macro flash on & sent them as jpegs…

  7. Alison says:

    Unknown to me I was paying into an this balance protective insurance never notice but now my credit card is higher i see the 56.00 coming off and wondered ?? plus 30.00 for their tax omg!….i am fully covered at work I would have NEVER signed up for this….even trying to tell her this on the phone she tried to sell me on it….VERY ANNOYING considering they already burned me….she said its been over 7 yrs maybe hard to prove….i said you show me where I
    signed up for this!! ….i want to be credited back…once I got huffy she said other ppl will be looking into it….
    We will see im not giving up….i feel scammed….why would I have 2 insurance im single and monies tight.

    • J says:

      Don’t sign any NDA agreements and don’t give up! They can’t prove you didn’t sign up and thats that, you win! Call back every day, show you are not giving up. Don’t agree to wait for them to contact.

      • J says:

        Also demand a cash refund, not a credit to the amount owing if you prefer. Also get clear emails only because phone conversations are not accountable as “recorded conversations recorded for quality assurance” go conveniently missing. If you were told they will contact you via the phone, don’t hold your breath. If it’s in email, they are accountable for not getting back to you as you can prove it.

    • GroveCanada says:

      Ask them to tally how much in total you have paid in insurance…Then file an Official complaint with the Financial services commission that is local to where you live…They will have a form on their site usually to fill out…Don’t just send an email…Put everything down in writing…Send the complaint…Then you can call & make sure they got it & if you are lucky, you can chat with someone about it…It takes a very long time for them to get around to your file…But the financial services commission is the power that banks are afraid of…

    • Eric Szeto says:

      Hey Alison,

      Just read your comment and I’m wondering if you have a few minutes to speak on the topic? I’m currently doing research into balance protection insurance.

      Please email me at
      Any response is appreciated!

    • Brendan Kennedy says:


      I work at a law firm in Toronto and am interested in your situation. Please contact our office at 416-782-0007 and ask for Brendan.

  8. Michela says:

    Might you know how one can go about canceling this insurance? I don’t even care for a refund, I just want to be done with them. I’m really fuming since I realized my balance is increasing and not decreasing with every monthly payment I make (struggling with those min payments right now).

    • GroveCanada says:

      Call them…They will gladly cancel…But you should know that if you want to TRY to get your money back, you have to ASK for a refund BEFORE you cancel…

      • Michela says:

        Thank you for the reply! I’m going to try my luck in 8 hours. I vaguely remember trying to cancel this years ago, and it was a convoluted process involving me having to fax something and it had to be from a Canadian number (I was outside of Canada -originally living in Quebec). Obviously hard enough to discourage people from doing it. It sounds like maybe they have relaxed a bit on those cancellation rules? I could update here after I talk to them.

    • Eric Szeto says:

      Hi Michela,

      I’m a journalist at CBC and I’m wondering if you have a few minutes to chat on your experience. Currently doing research on this topic. Any response is appreciated!


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