Pc financial turning 18 soon

[J_u_n_i_o_r_3]

I went in to precedients choise pavilon yesterday, i told the lady i will be turing 18 soon in a month. She told me how i should wait before oping a saing plus and no fee bank acount. She said it would be better beaucse for minors money is on hold for 14 days. WHen i turn 18 she said i have a better chance to get a five day hold.

My questions?
Is it better to just wait the one month?
ANy one 18 years old who has the pc financial no fee bank account? What is your hold limit? How many days?

[mcewen]

I have zero holds. If there was a hold I would not bank with them.

[J_u_n_i_o_r_3]

I have zero holds. If there was a hold I would not bank with them.

how old are u

[gq_fuzion]

i would open the account now, and when i turn 18, ask them to re-assess you

reason for the hold is that prior to 18, a credit check can't be run as you aren't legally an adult

14 day hold however is long
standard cad deposit hold time is 5 business days... clearing centres typically only require 2 days max

[dealguy2]

The problem is you probably have almost zero credit. Best thing to do is go to HBC/Zellers or Sears and apply for a credit card with them. Buy a few things and then pay off the card and destroy it. You'll then have a credit history after a couple of months. Don't cancel that account ever but make sure you notify them if you ever move.

[J_u_n_i_o_r_3]

i would open the account now, and when i turn 18, ask them to re-assess you

reason for the hold is that prior to 18, a credit check can't be run as you aren't legally an adult

14 day hold however is long
standard cad deposit hold time is 5 business days... clearing centres typically only require 2 days max

They told me how i have to wait every 6 months for a review
Right now I'm with ing going to make the move soon

[gtz_finest]

If your looking for a bank acccount and are a student you can also try Bank of Montreal. For students the account fee is waived, as well they didnt hold my deposits as long as they were deposited at a teller.

[Hellfire]

I have zero holds. If there was a hold I would not bank with them.

AhAHAHA you have a hold. It just depends on how much you deposit. ie) Your release amount.

[adamtheman]

I have a 5 day hold too with PC financial. I've been banking with them for like 5 years now, it pisses me off. But I've never called to ask them to remove it. I've got an unsecured LOC of $10,000, mastercard with 5k limit, so I dont see why they would be jackwads about it. Ill have to call them up and see

[83_gemini]

PC does release a certain amount (for me at least, the first $200 of every deposit, followed by a hold for anything larger). Usually this is not an issue, given the way I manage cash flows. I am not sure if it possible to wholly eliminate hold periods, but I suspect if you bothered them and had decent credit you could have the release amounts raised.

[gq_fuzion]

PC does release a certain amount (for me at least, the first $200 of every deposit, followed by a hold for anything larger). Usually this is not an issue, given the way I manage cash flows. I am not sure if it possible to wholly eliminate hold periods, but I suspect if you bothered them and had decent credit you could have the release amounts raised.

it all depends on the person's available credit
adamtheman already has 15k worth of used credit... depending on how much he has available to him, he may be close to max or no where near

if you still have quite a bit of outstanding available credit, you may qualify for a higher cashback amount

[silvermist99]

PC does release a certain amount (for me at least, the first $200 of every deposit, followed by a hold for anything larger). Usually this is not an issue, given the way I manage cash flows. I am not sure if it possible to wholly eliminate hold periods, but I suspect if you bothered them and had decent credit you could have the release amounts raised.

It depends on the person too, I was 21 a couple months ago when I signed up with them. They offered me $5k 0 day hold. I know one of my friend that is the same age as me has $10k 0 day hold.

[Hellfire]

It depends on the person too, I was 21 a couple months ago when I signed up with them. They offered me $5k 0 day hold. I know one of my friend that is the same age as me has $10k 0 day hold.

Translation: You can deposit up to $5000 a day without a hold, anything above $5000 will be held for 3 - 10 business days.

[twotterdhc6]

Translation: You can deposit up to $5000 a day without a hold, anything above $5000 will be held for 3 - 10 business days.

Cool, that's awesome.

I only get $500 daily without hold, and anything over that is held for 5 business days, but since my payroll gets deposited directly to the account anyway, it does not effect me at all

[taile]

My TD account has no hold period if I deposit at the ATM machine for any amount whatever chq or cash.