Deposit holds are strictly risk analysis and are entirely the discretion of tellers (up to a $$$ limit) and their managers when above that limit.

When provided with a cheque, a teller first looks for immediate signs of alteration or irregularities in an attempt to verify its authenticity.

Next, they look to see if the deposit is regular, or expected behavior for the account holder. This is accomplished by reviewing account activity in addition to questions about the cheque and source of funds.

If a cheque is drawn on the same bank as it is being deposited, we can also see the account holders assets and varify funds are available.

Basically, when a cheque is NOT HELD it acts as a temporary loan on the funds until the cheque clears. We are looking to see how the bank can retrieve it’s funds should the cheque bounce. Having other assets with the bank (ie; investments, GICs, trading accounts) or significant liabilities (ie; mortgages, lines of credit etc) will help you clear cheques (no hold) that would normally be held.

When a cheque is held, it is done so to reduce the possibility of loss for the bank. It has relatively little to do with customer service. We are completely aware of how this inconveniences your rent payment, weekend plans, payment of bills etc and are not intentionally restricting your money. Releasing holds is one of the significant sources of loss.

Ask yourself;
- If this cheque regular for my account?
- Do I have funds to cover the cheque should it bounce?
- Do I have other assets or available liability the bank could seize if the cheque bounces?
- Do I have good cash flow (money in and out frequently) to suggest I can cover a bad cheque, or is my account activity minimal?
- Do I have a good relationship with my branch members?
- Have I been with the bank for a long time?
- Am I high risk or low risk (ie; how many cheques bounced in the last year)?

If you answer yes to majority of the questions, you shouldn’t have a problem with your deposits being held (within a reasonable $$$ amount).
Also, you can negotiate for partial holds. Sometimes, we will release part of the cheque and hold part of it.

Don’t think we’re holding cheques to piss you off or that we don’t trust you. The bank is the target for a tremendous amount of fraud and loss and we need to be vigilant with every customer. Our jobs are literally on the line and a $5000 loss will give you the axe.

You two want to get a room?

Spend some quality stroking one another’s bruised and battered egos?

I’ve been gone from here for months only to come back the homoerotic longings the two of you apparently are having for each other; complementing one another’s oh so wonderful points in the world of banking and finance.

James, your superior was right you come off like an jackass, anyone reading your previous postings can tell you are someone who likes to speak (in this case write) just to feel important, and this blog seems to in your opinion make you important, it does not.

Randall, you unquestionably are one of these people who are in serious need of getting laid, good god man, you sound like a raving lunatic. No wonder you are still a teller after 15 years, who the hell would promote your negative spewing self.

Do you take your meds before or after you log on here Randall?

At least James makes a point now and again; you Randall just sit back and rattle off half truths.

E.g. you made a point that there is a way to “flag” accounts when the bank deals with a difficult people? You lied; why not tell people the truth.

I passed along this information to some friends at TD, and if you had ever made it past the role of Jr. Peon, you’d know that TD employees have been let go when they have placed inappropriate messages on accounts, and that clients can request in writing copies of any messages on their accounts, it’s their right. (I know Randall, why would mention this? Your version makes it sound more like George Orwell was taking about TD rather than Big Brother)

Stop rattling on about banks thinking you know what’s what, you don’t!! You’re the guy who takes my cheques, and if you like your job will take my abuse behind your little counter, and at the end of the day the one person we all make fun of for being in the same boat for 15 years and has made nothing of himself.

Do you still live with your mother?

Why not tell us why you get so angry about more proficient individuals getting ahead of you in the company? You’ve gone out of your way to attempt to make the bank look bad…I want to hear more about the kid, who was not as good in sales as you, who had less referrals than you, why he left your ass behind at the counter, and is now running a branch of his own…we’re all waiting Randall…tell us what your last managerial review said about you…why they told you can’t get promoted…why you are not the manager…why you always get passed up….apparently having a 142 IQ is not doing you any good…

Have you ever dated?

Bottom line, any sane person can see you are disgruntled, lonely, desperately looking for attention, looking for some type of acceptance from anyone, and I’d bet your meagre salary you’re also sexually frustrated, and are proficient in one handed typing since that is the closest thing to procreation you’ll ever get.

Randall why not take a loan out from that bank you work at, go get a lady for the night, and maybe that will do you some good.

They call them hookers Randall, you need one…bad.

James? Stop enabling him, can’t believe I’m saying this but again, occasionally you make a point, and it actually has some merit, but your now associating yourself with someone that will probably quit the bank get a job at the Post Office, and we’ll see him on the evening news cause he decided to go postal.

Randall get help!!

I have to take back what I said about not giving up. I was recently advised by my immediate “superior” to tone it down because I’m “perceived” to be negative.
The problem, as I see it, is that they don’t like anyone to reside outside the hive mentality. I get tired of the almost religious fervour that some employees have in that place. Ever seen the majority of the comments on the intranet? You’d think TD was some kind of messiah or something.
Many people, instead of growing a backbone themselves, will get jealous and resentful when you voice a contrary opinion. They don’t like intelligent people and would rather have a dummy who toes the corporate line no matter what.
Think about it in general. How many people voice their opinion unless they do an informal poll to see if they have others who agree with them first?
Gutless punks.

I once saved a student $4500. She sold something on-line for $500, received a $5000 bank draft. She was asked via e-mail to send back the difference as they made a mistake at their bank. This is a scam, which is quite popular (I may have mentioned this above – another day). The draft came back fraudulent. If I had not asked her the appropriate questions, she would have sent this scammer $4500 out of her account.
What Happens:
Your ACCOUNT BALANCE IS ($10,000) and you sell an item on line for $500
You get a bank draft for $5000, and an e-mail to send back the difference.
bank draft goes in bank +$5000 ( $15,000 bal.)
Item is sent through mail (lose the item and it’s cost)
Real Bank Draft is sent (less cost of item) b -$4500 ($10,500 bal.)
bank draft comes back fraudulent. -$5000 ($5,500 bal.)

This almost happened to a “landlord” at our branch with 10 drafts this way (students only rent here for 9 or 10 months). If the girl I work with didn’t ask the appropriate questions… Sheeesh! That would’ve hurt.

Also, you get the “smurfs” people who are hired to put money through their accounts, getting it out as bank drafts later in the month.

If a waitress is depositing $200 a day worth of tips in cash into her account, believe it or not, this is considered to be suspicious. If she does this (average od $200) for 300 days, thats $60,000. By law, we have to ask questions, or we could lose our jobs, and depending on the “instance” or “crime”, even serve time (if we are a knowing party to the crime). This is an actual example. She turned out to be dealing drugs on the side, and was running the money through her account with her tips from her actual waitressing job. This is money laundering.

So, at times, we may seem to be “harassing” you. We are not trying to. I admit, some people like the “power trip”, and those people need to be weeded out of the company. We don’t like asking those questions, but we are only human, if the customer is being obnoxious, arrogant, or “pissy” as I like to say, then it becomes a lot easier to ask those questions.

If you have nothing to hide, don’t sweat it. Once we start asking “Big Brother” type questions, I will stop asking them, and encourage my co-workers to follow suit.

As to trying to “cheese you off” enough to make you close your account, that wouldn’t happen at my branch, and it’s not something discussed at any meeting I’ve been to, however, I’ve heard some pretty bad “horror stories” from other branches, so nothing surprises me any longer.

The thing to be aware of is an FSR (sales person) who is behind on their sales targets, who may try to convince you to close this account and she’ll open a new one (she won’t lose “SR” on the account closure, but will gain “SR” on the new account). I’ve seen that happen.

Or if you move, some branches try to make the customers close their accounts from out of town branches and re-open accounts at the new branch. All this does is A) Inconveniences the customer B) Fudges Branch Totals (stealing) C) generates Sales Revenue (SR) for the sales people and Branch. THIS IS NOT NECESSARY. ALL YOU NEED TO DO IS PROVIDE APPROPRIATE ID. If we need a signature card, theres a lovely little invention called a “FAX MACHINE” that we can do from branch to branch.

James:
You are correct. However, beware of Wikipedia – a lot of B.S. also gets posted on there – sometimes never to be edited out. Thanks for your words of encouragement. I also get the looks of “I wish I could say that” and disbelief at meetings. Some people at my branch count on me to stand up and say things about certain issues, which gets a little dangerous if you don’t know the “games” going on in your organization. The trick: Know the “Games”, but don’t take part in them. Speak on the issue of importance to you and your morals, not someone else’s.

I wold like to say, overall TD isn’t that bad to work for, you get the same problems anywhere, a lot of the work related problems today are more about our society.