Business

TD Canada Trust apologizes for system outage

TD Canada Trust ran full-page apologies in newspapers across the country Monday, saying it was sorry for a weekend computer crash that left millions of its customers unable to access their accounts.

For 12 hours on Saturday, TD Canada Trust's 13 million customers were unable to use banking machines or make transactions through online banking and telephone banking. Debit cards were frequently unusable.

The bank said the outage was caused by "a rare and isolated hardware problem" that was fixed by late Saturday night. A TD Canada Trust spokesperson said the problem was not caused by hackers or sabotage, and said customer records and assets are all safe.

The bank said processing of cheques and bill payments will be delayed, but said the backlog would be cleared by the end of business Monday.

There was no mention in TD Canada Trust's advertisement of any compensation to customers. The bank charges fees of $3.95 to $24.95 per month for its various personal chequing accounts, with the fee rebated if a minimum balance is maintained.

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