which bank has best hold/worse release time and amounts? thx

kocoman wrote: ↑ which bank has best hold/worse release time and amounts? thx

Out of the Canadian financial institutions that I deal with (Alternabank, LBC Digital Bank, TD Canada Trust, RBC, and Tangerine), I would say that Alternabank and LBC Digital Bank have the worst release/hold times.

The reason I say this is because regardless of the amount I have with Alternabank and LBC (and whether it is in a GIC which can't be touched before maturity) as well as my credit score (which is in the excellent category), they will hold even $1 for 5 business days. With my TD Canada Trust, RBC, and Tangerine account, with the amounts that I've deposited, I have not had any hold times for them (my assets at each of these 3 financial institutions are over $100k each).

In terms of the best hold/release time, I can't comment on that since out of the 3 Canadian financial institutions where I haven't experienced any hold time with my accounts for the amounts that I've deposited, they seem the same to me. Even though for the deposits that I've made, I haven't had any hold times at RBC, TD Canada Trust, and Tangerine, I'm sure other posters will mention that they've had hold times with them so these things are subjective.

It varies from person to person as each bank has different criteria. This is why when you open a bank account, they ask to pull credit so they can determine your debit card limit and hold times. You can have people at one bank with no holds at all while having holds at another.

bomber17 wrote: ↑ It varies from person to person as each bank has different criteria. This is why when you open a bank account, they ask to pull credit so they can determine your debit card limit and hold times. You can have people at one bank with no holds at all while having holds at another.

This is the perfect answer.