Friday, January 8, 2010

Not Following Directions

I'm jet lagged and my mind is still in la la land. Made another banking error yesterday. Forgot to transfer extra mortgage money. No real harm. Just pride. I'm going to blame it on the 2.5 oz of liqueur in my post lunch with a girlfriend dessert coffee yesterday... :)

As part of the account switcheroo, we found out something about PC Financial we don't like very much. They have a maximum amount you can deposit per day per banking card.

I thought we were outsmarting them because I wrote 4 checks of $3000 each to put into a checking account so that I can transfer it out to buy investments as I was told that checks written from a LOC would not be accepted even if we really are not borrowing money to invest.

So we have $9000 just on hold somewhere in cyberspace for 5 business days. What hassle. That is one disadvantage of not dealing with a bricks and mortar bank. Other than that, I've had no other issues with them.


  1. While I bank at PC - all banks (typically) have a 5 day hold on deposits made through a Bank Machine (gives them time to verify that funds are in the bank to cover the cheque). Only way to avoid the deposit hold is via the counter.

  2. Hi joanne!

    Yes, I definately believe my local bank has spoiled me. Living in a smaller city center, I've had holds on cheques waived for a while now so I'm not used to all the safety restrictions that is part of their business. I'll know better for next time.