Quote:
Originally Posted by Jimmy Stang
Tangerine is a brand of Scotiabank. Bricks and mortar doesn't mean that people don't screw things up.
I used to work at the cheque processing centre for CIBC. Trust me, big banks screw up often.
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All the more reason to be dealing with a credit union instead of the big banks since they screw up often as you say!
To your point, I guess there is a difference of who the risk of loss falls on.
With a full service institution the cheques would have been immediately deposited to the account and the risk of cheques being lost or processed incorrectly would have transferred to the financial institution.
Would you rather personally assume the risk or transfer that risk to a financial institution's clearing centre for safekeeping and/or processing cheques incorrectly?