Purolator Alternative

Mine was over 100k and RBC deposited it in my account rite away, they override it so I can have it. The bank personnel know me so it made it easy that way, I didn't have to show no paperwork ... Maybe it was my lucky day!!!

The 5 day hold mostly depends on your credit rating.

My Brothers and Sister just inherited some money over 100K.

My bank asked me how much I wanted but my siblings got theirs held for 5 days.

Well I can see the concerns on any bank, to stay with in there policy and the tellers doing there job when it comes to large amounts to be cashed, I know this will not solve each individual issues, you have the funds in your hands that you have waited so long for, so hopefully the bank you deal with will allow you some funds until it clears. On the other hand this gives one time to revisit there wish list knowing in 5 days you will have it, and during that one can dot there I AND CROSS there T. So the law firm has done there job to get you your refund, now the GOC through bank of Canada which all banks deal with, should release a statement to all Banks that the cheques from M/C for VETs are valid and to remove the 5 day hold on them, so not to endure anymore stress on vets? just a idea RUCKSACK031

oh, oh....there is a stat holiday, on august 5 th.....Civic Holiday

I also deal with CIBC so I may have to let it grow for 5 days....lol.

Widow of Veteran

Yes I believe it will be for the better as I said for our planing and payment of bills and invesments. Better not be any stat holidays in there LOL

In regard to waiving the hold on the cheque. We took all the info and our branch said due to large amounts of fraud they would have to put a hold on it (except for a portion they would release as we were good customers), or we could go to Bank of Nova Scotia and have it certified. Went to BNS they wouldn't certify it as it was not on their branch, but did confirm the signatures were good and there was that much in the account. Back to TD, where they phoned Head Office of BNS who said yes go to branch and speak to ***, back to BNS spoke to *** who said can not do it and showed us on her computer the notice about certifying non branch cheques. Back to TD, our personal banker was speaking to BNS as we walked in. She was livid, spoke to them and with their agreement faxed a copy to them to verify, they never responded, I think she finally spoke to lawyers and did take the hold of the cheque. She went above and beyond and spent most of her day. Be prepared for a 5 day hold on anything over $10,000

Bigrex

Is there not laws that prevent you from cashing CHQ over $10,000.00 or taking out cash or something to that effect? so cashing a CHQ in the $150,000.00 + Range might cause a bit of an issue not to say getting armed gaurds to ride along from bank to bank lol

Widow of Veteran , Bigrex and SweetPete

I Had to go to physio sorry It took so long getting back to you, The name of the bank is CIBC my wife deals with TD so I have yet to take the issue to TD but we will give it a try if the need comes up like i said i dont think it will be a big deal as we can use the time to rethink on payment strategy on all our bills and go over all the details of our plans prior to signing off on them, the fact that the just up and said NO was a bit of a shock seeing that they know all the details. I am sure this will come up for more people in the next few months.

Again thanks for all your info

I got my cheque in Kingston yesterday, a few thousand dollars more than I thought too. Took it to the bank (TD) and though they told me they had to hold it for 5 business days, they did give me $1000.00 to go pay some bills which I thought was pretty cool. I wish everybody else the best of luck!

Foundry, I think that you need to go to another branch, if possible, because it sounds like the one you are dealing with right now have a stick wedged in there firmly. There is absolutely no reason to withhold a certified cheque, as the money is held in trust by the issuing bank until it is cashed, or the cheque is returned, so there is no possibility of it bouncing. Holding it would akin to freezing money made through automatic deposit, just because it's a large amount. It just makes no sense.

I myself would go to the nearest scotiabank and get it cashed. All you will need is 2 forms of ID, then take the cash to your bank and deposit it. I did just that, a few months ago when I sold my trailer to Apex homes for refurbishing. They gave me a personal cheque from RBC, so I went to an RBC branch, paid $10 and took my cash to my branch. Over and done, and I had access to the funds immediately. I would at least call a local scotiabank, and see what their policy is for cashing cheques for non customers.

Foundry......do you mind sharing the bank's name that is giving you a hard time so others can watch themselves? If you don't, I understand.

The sad part is they can see which bank the cheque is made from and they could take the time to call them.
I am still waiting also for the settlement.

Widow of Veteran

I guess it all depends were you live and the people running the branch I know I have lots of opptions so it will be fine if you think about it The 5 days might be good to sit back and re think all the plans and bill payments so that you get it right who knows we will see when the time comes.

They did say even if it was certified they would still hold it for 5 buisness days due to the amount lol.

Thank you WOV for your information I asked about all this and the answer I received was no they seemed to not want to hear what I was saying and they kept saying well what if the CHQ bounces LOL, now mind you i will push the issue when the time comes as I am looking at 14 years plus in retro so if they want to be up tight about it I will go to another bank my wife deals with another one so we will go there and I will switch over all my accounts, like they care anyway.

Once this is all over I will never ask another bank for anything again, I will tell them!NICELY.

On other note.....I wonder if you brought the cheque to a Scotiabank around you and ask to have it certified. It may cost you $25.00 or so but once it's certified......it may help.
Or just open an account with Scotiabank. Some are saying that TD as been very good, along with CIBC and Caisse Populaire.

Widow of Veteran

Hi foundry

I've notice on LNVB and the other group on FB that it was done.
The bank that the cheque is made from is Scotiabank in Halifax. That's the bank that MC deals with. Some have brought the banks phone number with them .......902-420-3567 and offer it to your bank so they can verify that the funds are there. Even offer to pay the call, if they want. Should not cost more than $10.00 to $20.00.
Some are stating that they didn't even have to do this.
If you try this, don't forget your paperwork and ID's.
It is called customer satisfaction. I hope they help you.
Good luck

Widow of Veteran