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
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
