Open an Account: Online Authentication
Thank you for your interest in a TD Waterhouse Discount Brokerage account.
Our online application incorporates an online authentication process using Equifax (a third party information service) to identify you. The advantage of online authentication is that you have the convenience of applying wherever you have Internet access, without having to visit one of our locations. Plus, you may access your new account as soon as it is opened. You may begin investing once your identity has been fully authenticated, and cash or securities are deposited in your account.
The online authentication process is designed to validate your identity and protect you so that no one else can open an account in your name. In order to meet regulatory requirements to open a TD Waterhouse account using this online authentication process, we are required to ask for personal information. Equifax is bound to maintain your confidentiality and may not use the information for any unauthorized purpose other than identifying you for opening your account.
The information you provide will be compared to your Equifax consumer credit report. This process will NOT impact your credit rating or credit file in any way. This information is used only for validating your identity. Should the information you provide not be authenticated online, please be assured that this is not a reflection of your credit rating but may be due to the fact that the consumer report file is incomplete. If you are applying for an account with margin trading, option trading or short-selling, information may be used through a credit check to help establish your credit history and support the credit process. All information submitted via this online application is fully encrypted and secure.
In accordance with Federal legislation we are also required to validate your primary financial institution banking relationship as part of the account opening process. If you do not hold a TD Canada Trust bank account, this will extend the amount of time required to activate your account. If you are a non-TD Canada Trust banking customer and wish to begin investing sooner, it is recommended that you visit the nearest TD Waterhouse Investor Centre or TD Canada Trust Branch to open your TD Waterhouse Discount Brokerage account.
For TD Canada Trust Banking Customers
The authentication involves a 3-step process for applicants and joint applicants (if applicable):
Step 1 – Validating your Personal Information
The first step of authentication involves validating your "wallet" information such as your name, address, Social Insurance Number, driver's license and credit card number against your consumer credit report. This information must be accurate in order to proceed, and when your information is validated, you will instantly proceed to Step 2 of the authentication process.
Step 2 – Validating Personal Credit-Related Questions
At this point in the process, you will be presented with a short multiple-choice questionnaire.
There is a possibility that you may be asked questions and given a choice of answers that do not pertain to you (even though the question is positioned as "your credit file indicates…"; therefore, don't hesitate to answer "None of the above". These questions have been purposely generated by the system to further confirm your identity, as you are the only person with access or knowledge to answer these questions.) These questions are only generated by Equifax and TD Waterhouse has no access to this information. Your responses to these questions are strictly confidential and are not kept or stored by TD Waterhouse for any purposes.
Please remember that should the information you provide not be authenticated online, this is not a reflection of your credit rating but may be due to the fact that the consumer report file is incomplete.
When your identity is validated through this online authentication, your application will be processed and a copy will be sent to you. A signed application and proof of identity will be required from you and any joint applicants within 30 days to maintain your account.
Step 3 – Validating Your Primary Banking Relationship
In accordance with Federal legislation and for the protection of your identity, we must validate your primary banking relationship with TD Canada Trust to activate your account upon which time you can start investing.
For Non-TD Canada Trust Banking Customers
The authentication involves a 4-step process for applicants and joint applicants (if applicable):
Step 1 – Validating your Personal Information
The first step of authentication involves validating your "wallet" information such as your name, address, Social Insurance Number, driver's license and credit card number against your consumer credit report. This information must be accurate in order to proceed, and when your information is validated, you will proceed to Step 2 of the authentication process.
Step 2 – Validating Personal Credit-Related Questions
At this point in the process, you will be presented with a short multiple-choice questionnaire.
There is a possibility that you may be asked questions and given a choice of answers that do not pertain to you (even though the question is positioned as "your credit file indicates…"; therefore, don't hesitate to answer "None of the above". These questions have been purposely generated by the system to further confirm your identity, as you are the only person with access or knowledge to answer these questions.) These questions are only generated by Equifax and TD Waterhouse has no access to this information. Your responses to these questions are strictly confidential and are not kept or stored by TD Waterhouse for any purposes.
Please remember that should the information you provide not be authenticated online, this is not a reflection of your credit rating but may be due to the fact that the consumer report file is incomplete.
When your identity is validated through this online authentication, your application will be processed.
Step 3 – Return your signed application
You will have the option to print your application or request an application be mailed to you. You will need to return the signed application from you and any joint applicants in order for us to validate your primary banking relationship. Although your account may be opened, validation of your primary banking relationship with your other financial institution is still required to activate and begin investing in your account.
Step 4 – Validating Your Primary Banking Relationship
In accordance with Federal legislation and for the protection of your identity, we will require your signed application to validate your primary banking relationship with your other financial institution. This may take up to 2 additional weeks from the time you return your signed application to us. If you wish to begin investing sooner, we encourage you to go to the nearest TD Waterhouse Investor Centre or TD Canada Trust branch to open up your new TD Waterhouse Discount Brokerage account.
Collection and Use of Credit Information
We may obtain Information about you from parties outside the TD Bank Financial Group, including through a credit check, and verify Information with them. You authorize those parties to give us the Information. We may disclose Information to other lenders and credit bureaus; this helps establish your credit history and support the credit process. You may obtain our privacy code - "Protecting Your Privacy" - or review your options for refusing or withdrawing this consent, including your option not to be contacted about offers of products or services, by contacting your branch or calling us toll-free at 1-866-222-3456.
Should you require more information, a TD Waterhouse Investment Representative will be pleased to assist you at
1-800-465-5463.
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