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When I started depositing my US cheques, I don't think the tellers knew their was a 30 day hold. So I was lucky enough to never have one.
A year later a new teller told me there was a 30 day hold on cheques. I said, "I don't think so. You've never held my money before, and I don't expect you to hold it now."
She went to talk the manager. The manager and I had a 10 minute meeting and she informed me that if one of the cheques bounced, they'd call me and I'd have to replace the money. DUH.
So I deposit my money and take it out whenever I want.
The thing that pisses me off is this. Say you have a US cheque for $3000 and they give you $4500 CDN. Come back an hour later with the same $4500 CDN and buy US funds and they'll give you $2950 USD.
If they don't get you one way, they'll get you another.
P.S. I have fun with the tellers though. After they total up all the cheques and tell me what my deposit will be, I point to the "clearly stated" U.S. funds and make them do it again.
The cost to mail me my cheques- $2.00 US
The cost for service charges- $50
The look on a tellers face when you tell her how you make this money- Priceless
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