• Last Updated:
  • Nov 9th, 2013 3:55 pm
Member
Jan 20, 2007
464 posts
118 upvotes
Niagara
Tried this out this morning - took about 2.5 hours for them to process. No holds on the deposit either which was an added bonus!
Sr. Member
User avatar
Feb 13, 2009
553 posts
156 upvotes
Montreal
Deposited a chq last night around 5:00PM, got an OK email this morning at 10:05AM to destroy the chq.
Hmmm... should i really destroy the chq that soon?

Meh, still a bit worried, I'll keep the chqs for 3 more months, just to be safe. lol...

Note: since my hold limit is 2,000, therefore this chq wasnt held.
Deal Addict
Nov 11, 2004
3048 posts
267 upvotes
Ottawa
Time to open those Frames of your First Pay Cheque

Take some pics of it then Reframe it.... I remember a Football player doing that with a 1 million dollar cheque... Never cashing it,.... INSANE
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Deal Addict
User avatar
Apr 4, 2002
2334 posts
11 upvotes
So strange to put a cheque through a shredder. I still like to hold onto them for awhile just in case, if things go south you could at least produce a physical specimen of the cheque.
Member
Nov 27, 2009
319 posts
25 upvotes
on a different note, does anyone how to deposit a USD cheque (not from canadian bank) to your account at ING? Can you use the ABMs? Do you mail the cheque?
Moderator
User avatar
Mar 23, 2004
38236 posts
4359 upvotes
Markham
abu_sme wrote:
Jul 3rd, 2013 4:21 pm
So strange to put a cheque through a shredder. I still like to hold onto them for awhile just in case, if things go south you could at least produce a physical specimen of the cheque.
even though ing said it's fine for u to destroy it?
"Between a high, solid wall and an egg that breaks against it, I will always stand on the side of the egg.

Yes, no matter how right the wall may be and how wrong the egg is, I will stand with the egg."

#StandwithHK #5DemandsNot1Less
Deal Addict
User avatar
Apr 4, 2002
2334 posts
11 upvotes
Physical cheques has security features that can be used to validate the authenticity of the cheque. Basic things like raised ink, holograms, magnetic ink etc. When taking a picture of the cheque these features are obviously not authenticated. The risks are the same as a regular cheque, but if there is a situation where check fraud is at play having a physical cheque is a much higher burden of proof over just snapping a picture of something that could be printed off of an laser printer onto regular 20 lb paper.

Still, if you only accept cheques from trustworthy people it isn't a problem.
Deal Addict
Nov 11, 2004
3048 posts
267 upvotes
Ottawa
I just tried this again today.... Doesnt seem to be working for me.

Just hangs on the Processing Cheque Screen. I tried it 3x... Rebooted the phone to get out of the app each time. I spoke with the reps and they said everything should be fine to try it again.

Very odd... I guess ill have to go do it the "Old Fasioned" Way and go to the bank
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Deal Fanatic
Apr 20, 2011
7747 posts
2681 upvotes
ON
I tried it a couple weeks back with my new phone - was processed overnight no problems.
If its not a close friend/family/friend of the family, I'd hold onto the physical cheque for at least the 5 business days period before destroying, just to be safe.
Moderator
User avatar
Mar 23, 2004
38236 posts
4359 upvotes
Markham
ing will send you an email once its safe to destroy the cheque. But of course, never hurts to keep it longer.
"Between a high, solid wall and an egg that breaks against it, I will always stand on the side of the egg.

Yes, no matter how right the wall may be and how wrong the egg is, I will stand with the egg."

#StandwithHK #5DemandsNot1Less
Deal Expert
Mar 25, 2005
21292 posts
2122 upvotes
ilusa wrote:
Jul 9th, 2013 5:05 pm
I just tried this again today.... Doesnt seem to be working for me.

Just hangs on the Processing Cheque Screen. I tried it 3x... Rebooted the phone to get out of the app each time. I spoke with the reps and they said everything should be fine to try it again.

Very odd... I guess ill have to go do it the "Old Fasioned" Way and go to the bank
On the fly authentication seems to be gone.
Member
Aug 13, 2008
311 posts
38 upvotes
Cambridge
Not sure if this means anything, but i noticed it says "Available Credit ($)" under the account details within the app. AFAIK this wasn't there in the previous version unless i am blind. Sign of a credit card or overdraft being introduced?

EDIT: only appears under Orange Snapshot.
Deal Fanatic
User avatar
Oct 8, 2006
5239 posts
430 upvotes
Toronto
I am wondering about the authentication too. What makes it so someone doesn't 'change' the words and numbers on the check to say $1000 instead of $100.
Also what happens to those payday places that just cash in checks with no hold period, but take 20% or something.
Deal Addict
User avatar
Sep 4, 2005
2837 posts
595 upvotes
Toronto
I cashed a cheque and it worked and "got" the money in my account fast (within 3 days). The MAJOR deal breaker is the 5 day hold to get anything past $100. So to actually get the money back and my PC account and actually usable, took just under 2 weeks.

I called ING to either increase the hold amount or shorten the period and they told me everyone has a 5 day hold, max amount "trusted" is only $100. So I will never be using this again. I've been with PC for over 8 years and ING over 7. My non-hold limit with PC is $1000 (can only request every 6 months, so my next upgrade is to $3000 I think come Sept.) My ING one is only $100...

So traveling to the bank and getting the money instantly in my account still makes more sense to me. My only hope is this drives other institutions to adopt this technology.
Deal Addict
Nov 11, 2004
3048 posts
267 upvotes
Ottawa
Anyone get it to work this Week?

My gf had the same issue as i had. Which has the application Hang on Processing Cheque...... Will site there for 5/10/15/20/30 Mins until i give up and reboot the phone

I called ING yesterday they said it shouldnt be happening, and should process in seconds. To just try again, each time i try same issue arrises.

The first time i tried this a few weeks back it worked perfectly and took seconds to go through
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