Personal Finance

Tangerine put a hold on my cash deposit?

  • Last Updated:
  • Jun 16th, 2019 10:44 pm
[OP]
Deal Addict
Aug 30, 2011
1298 posts
300 upvotes
Edmonton
FoFai2015 wrote:
Jan 4th, 2019 6:44 pm
They deserve to be in different categories. Cash should faster than a cheque. As soon as someone has opened up the envelope and verified the amount of cash, they should update the system. It should not take more than one business day. However expecting the cash to be counted before the end of the next business isn't appropriate.

If they open up an envelope and see there's a cheque in there for, say, $100, it can still take a few business days for the cheque to clear. (They know the depositor didn't fraudulently deposit the cheque, but they don't know about the withdrawal.)

If you need to deposit cash and have access to it right away, you need either an envelope-free ATM or a teller. Either can verify the cash immediately (and unlike a cheque, there's no chance there's not enough money in someone else's account).


Bank websites will tell you, and you can even tell the site to only tell you where envelope-free ATMs are.
How can you find that with Scotiabank? It doesn't say
Deal Addict
Jan 2, 2015
1404 posts
433 upvotes
Toronto, ON
Looks like I spoke too soon. I'm with Simplii, and was able to find that feature on the CIBC website. I assumed that Scotiabank, a larger bank, would have a better website. The Tangerine website also didn't offer that feature.
Newbie
Nov 14, 2014
50 posts
20 upvotes
Mississauga, ON
I believe the Oliver Square branch is the only one in Edmonton so far.
[OP]
Deal Addict
Aug 30, 2011
1298 posts
300 upvotes
Edmonton
cirrux wrote:
Jan 4th, 2019 9:06 pm
I believe the Oliver Square branch is the only one in Edmonton so far.
Yeah spoke to customer service on Facebook and the ATMs in my area will be upgraded the first week of February
Member
Nov 25, 2009
333 posts
114 upvotes
Terrace
I have a 7 day hold til Wed and I need to get a bank draft in by Sat :/

GL to me
Deal Fanatic
User avatar
Sep 13, 2003
9923 posts
1649 upvotes
Basically, if you need the money in your account, deposit it at a teller lol.
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