Personal Finance

Tangerine Call Centre answer not that clear, need answer when deposited cheque will be cleared for sure

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  • Sep 16th, 2017 12:22 am
[OP]
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Aug 23, 2004
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Tangerine Call Centre answer not that clear, need answer when deposited cheque will be cleared for sure

Banking with ING and then Tangerine for 6 years now. No need to call them until today. Long story short. I deposited a $100 cheque from John Doe who paid me a deposit on September 11, today John Doe called and wanted to cancel the deal and have his money back, I agreed but told him I need to check with bank to make sure the cheque is cleared before I will refund him, he agreed. So I called Tangerine:

Explained to the agent what happened and wanted to know if the cheque is cleared or not. Agent told me cheque is cleared once I deposited it, I can cash the $100 using ATM. Told her I don't mean if I can use the money, I wanted to refund the person and wanted to make sure the cheque is cleared just in case the issuer is going to stop payment. She then asked me if I wanted to stop payment??!! Anyway after a few minutes of going nowhere, I knew she didn't understand what I was asking. Asked her to transfer to someone else and the other agent answered me with "I have to wait till Monday September 18 for the 5 business days hold period to expire", still not exactly what I wanted to know, anyway, had enough and hung up.

Anyone has experience to know when the cheque will be cleared for sure and safe for me to refund John Doe, thanks. By the way I am planning to pay him back on September 23 to be safe but John Doe wanted me to refund him on September 16 since he received a job offer and will be leaving town soon. TIA
11 replies
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Dec 17, 2008
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Why not just ask John Doe to show you it's cleared in his account? Have him log into online banking and take a screenshot of the cleared cheque, etc...? Would that work?
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Aug 4, 2003
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Cheque clearing is very fast now thanks to imaging (physical cheques are no longer mailed to issuing institution) but it will be tough for anybody to tell you other than John Doe like Shawguy above said.
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Mar 25, 2005
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Was it a mobile deposit? They send an email when it's cleared.
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Dec 31, 2005
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Kasakato wrote: Was it a mobile deposit? They send an email when it's cleared.
Do not trust their emails. They're automated time based and not reflective of actual status.

I have had a cheque reversed *after* the email that says it's clear and you can shred the original cheque.

I don't know the number of days for sure but I'd say 10 - 14 calendar days.

Even if they show you it cleared on their side may not mean they can't get it reversed.
.
Sr. Member
Nov 13, 2009
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Oakville
You will receive an email when it clears if you used mobile deposit
Usually after 3-4 days after you deposit the Cheque
[OP]
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Aug 23, 2004
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Thanks for the replies, I deposited it via ATM so I guess I will tell John doe to pick up his refund on Sept 23 since I deposited it on Sept 11, should be fine by then.
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Nov 22, 2015
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The simple answer is that Tangerine doesn't know.

Once they process the check, it's completely out of their hands... They won't know if the check ever 'clears'. They'll only get notified if the check comes back NSF or otherwise returned.

Professional fraudsters know how to play the system... with a combination of fake IDs/accounts/counterfeit cheques, it's possible to kite a cheque for weeks if not months before coming back as NSF.
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Dec 17, 2008
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apvm wrote: Thanks for the replies, I deposited it via ATM so I guess I will tell John doe to pick up his refund on Sept 23 since I deposited it on Sept 11, should be fine by then.
Write John Doe a cheque postdated for the end of the month if you are concerned.
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Apr 20, 2011
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ON
Always wait 5 business days standard.
It could still bounce after that, but rare for a within-Canada cheque.
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Mar 28, 2005
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superfresh89 wrote: The simple answer is that Tangerine doesn't know.

Once they process the check, it's completely out of their hands... They won't know if the check ever 'clears'. They'll only get notified if the check comes back NSF or otherwise returned.

Professional fraudsters know how to play the system... with a combination of fake IDs/accounts/counterfeit cheques, it's possible to kite a cheque for weeks if not months before coming back as NSF.
That is exactly what my personal friends at the bank tell me.
The 5 days or whatever the bank quotes is just a convenient number.

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