Understanding Tangerine's Cheque Holding Policy: Online Banking, Mobile App, and Customer Service

Being a forward-thinking bank, Tangerine has optimized its banking processes to enhance convenience for its customers. Tangerine's cheque holding policy is a perfect illustration of this mainly because it employs a customer-centric approach comprising online banking, a reliable mobile app, and efficient customer service. In this article, we will explore how long Tangerine holds cheques in each platform, and how to navigate through each one.

Online Banking

Tangerine's online banking platform offers a seamless experience when depositing cheques. But how long does it take for the funds to reflect in your account? Usually, Tangerine places a hold on cheques for 5 to 7 business days—varying on a case by case basis. This waiting period allows the bank to confirm that the cheque writer has sufficient funds before the money is moved to your account. However, this doesn't mean you cannot navigate around the waiting period.

Tangerine offers ways for its customers to access their cheque deposits faster. For example, you can get a shorter hold period if you have a good financial record with Tangerine. If your account has been maintained in good standing for a substantial period, Tangerine may reduce the hold period considerably. Furthermore, establishing a history of deposits without any issues can also lead to a shorter hold period.

Mobile App

To provide ubiquitous banking experiences, Tangerine offers a sophisticated mobile app that allows customers to deposit cheques seamlessly. The cheque hold period via the mobile app mirrors that of online banking—5 to 7 business days. Nevertheless, there are ways to get your cheque cleared faster, which are dependent on your banking history.

To deposit a cheque using Tangerine's mobile app, you only need to capture the front and back sides of your cheque, enter the amount, select the account you'd like to deposit into and click 'submit'. From here, Tangerine’s systems will process the cheque and, if everything is in order, release the funds into your account after the customary hold period.

Customer Service

Sometimes, the standard procedures might not cut it, especially when you need the funds urgently. This is where Tangerine's customer service comes in. The customer service team can help you understand the bank's cheque holding policy and possibly expedite the process.

To get in touch with customer service, you can either dial their toll-free number or use the live chat feature on the Tangerine website or mobile app. Once connected, explain your predicament, and the customer service agent might be able to offer a solution or at least give you a definite timeline on when your cheque will clear.

Conclusion

Tangerine's cheque hold policy ensures that both parties are protected in a cheque transaction process. While the wait time may seem long, it serves a significant purpose, helping avoid potential financial pitfalls. Knowing how to engage the platforms—including the online banking system, mobile app, and customer service—puts you in a better position to navigate the check holding process. Understanding these options gives you flexibility as a Tangerine customer, and ensures that your financial activities are always under control.