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  • Jul 17th, 2019 4:24 pm
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May 19, 2015
1166 posts
567 upvotes
So I made an account when the 100 promo was still up but I forgot to deposit the 1k over the holidays - do you think I can still get it if I deposit it now? Was going to call in tomorrow but if someone knows now?...
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Sr. Member
Jun 13, 2018
607 posts
445 upvotes
snowhite445 wrote: By law, no bank can hold a cheque more than the maximum 7-8 days unless there is an abnormality of course (example: fraud etc)
I asked by way of SM, they have a policy of holding cheques for 20 business days on a new account to be reviewed in 6 months as the relationship builds. My reply was no worries, the deposit is just there long enough for the $100 wb
Deal Addict
Dec 13, 2010
1790 posts
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ON
ritzcrv wrote: I asked by way of SM, they have a policy of holding cheques for 20 business days on a new account to be reviewed in 6 months as the relationship builds. My reply was no worries, the deposit is just there long enough for the $100 wb
lol, idjits. Hopefully their new bank does things right
Jr. Member
Mar 1, 2003
151 posts
9 upvotes
Toronto
I'm overseas right now, does anyone know if you need to be physically present to create an account at Meridian CU? (for identity verification etc..)
Jr. Member
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Nov 21, 2015
149 posts
125 upvotes
-37.68611 176.16667
tick wrote: I'm overseas right now, does anyone know if you need to be physically present to create an account at Meridian CU? (for identity verification etc..)
No. do it online... they do a credit check. .. easy, peasy...takes 2 minutes
Deal Expert
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Aug 18, 2005
18879 posts
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GTA West
tick wrote: I'm overseas right now, does anyone know if you need to be physically present to create an account at Meridian CU? (for identity verification etc..)
Some people were told to go into a branch. But for me it was all on done online. I have never been inside a Meridian branch in my life.
Jr. Member
Jul 2, 2014
173 posts
38 upvotes
Calgary, AB
I tried opening a chequing account with Meridian. And there was consent box for a credit check. Can anyone confirm if it pulls a hard credit check or soft credit check?
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Aug 18, 2005
18879 posts
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GTA West
vabandroid wrote: I tried opening a chequing account with Meridian. And there was consent box for a credit check. Can anyone confirm if it pulls a hard credit check or soft credit check?
It is a soft check on Equifax.
Sr. Member
Nov 9, 2017
610 posts
61 upvotes
ritzcrv wrote: i know the regs, this is a new account.
I don't see anything on that link that says New Accounts are exception.
Sr. Member
Jun 13, 2018
607 posts
445 upvotes
snowhite445 wrote: I don't see anything on that link that says New Accounts are exception.
I guess you could have read your own link
Exceptions
The above-mentioned maximum cheque-hold periods and access to the first $100 may not apply to:

an account that has been open for less than 90 days
a cheque that has been endorsed more than once
a cheque that is deposited six months or more after it was dated
cheques that are not issued in Canadian dollars
cheques issued from an account at a bank branch outside of Canada
a deposit that a financial institution has reasonable grounds to suspect is being made for illegal or fraudulent reasons
My point on this thread has been about the archaic nature of some FI's that try to be forward thinking wrt to technology, but fail in actual service. They, Meridian, accept mobile cheque deposit, but for some inane reason choose to hold for the entire cheque clearing process from back in the day where the paper had to clear the clearing house & be returned to the issuing bank to confirm the signature matches a paper card.
I understand kind of their reasoning, the number of scams using fake "official cheques" is a pandemic. My cheque was from a reputable FI that uses optical imaging for all deposits.
Jr. Member
Jul 2, 2014
173 posts
38 upvotes
Calgary, AB
Jucius Maximus wrote: It is a soft check on Equifax.
Thanks. I went ahead and opened an account. Do you know how long does it normally take for them to complete my account opening? I guess I have to wait until the account opening has been processed in order to apply for a credit card.

V
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Aug 18, 2005
18879 posts
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vabandroid wrote: Thanks. I went ahead and opened an account. Do you know how long does it normally take for them to complete my account opening? I guess I have to wait until the account opening has been processed in order to apply for a credit card.
I don't remember how long everything took. The actual debit card came in the mail around 2 weeks after opening.
I was able to initiate linking to other bank accounts within less than 1 week after opening.
Sr. Member
Nov 9, 2017
610 posts
61 upvotes
ritzcrv wrote: I guess you could have read your own link



My point on this thread has been about the archaic nature of some FI's that try to be forward thinking wrt to technology, but fail in actual service. They, Meridian, accept mobile cheque deposit, but for some inane reason choose to hold for the entire cheque clearing process from back in the day where the paper had to clear the clearing house & be returned to the issuing bank to confirm the signature matches a paper card.
I understand kind of their reasoning, the number of scams using fake "official cheques" is a pandemic. My cheque was from a reputable FI that uses optical imaging for all deposits.
Yeah, agreed. Let's not forget they will hold the cheque and profit from it because you won't be able to take it out. They held my DRAFT for 7 days and said a Certified Cheque they won't put a hold on but then another rep said they will hold certified cheque too...anyhow, the regular bank reps BS that goes on and on...

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