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View Full Version : Banks putting a hold on your cheques


alpine692003
12-16-2004, 02:06 PM
ARghhhhhhhhh :angry: :angry:

After all these transactions and months of service, yesterday was my 1st time having a cheque that was put on hold.. $1400 ...

I called the business telephone and told them of my situation, said they couldnt do anything. I told them other banks have released funds up to $900 right on the spot and I had no problems..


I think I am going to take my business to another bank!!! :realmad:

coastallandscapesolutions
12-16-2004, 02:09 PM
ARghhhhhhhhh :angry: :angry:

After all these transactions and months of service, yesterday was my 1st time having a cheque that was put on hold.. $1400 ...

I called the business telephone and told them of my situation, said they couldnt do anything. I told them other banks have released funds up to $900 right on the spot and I had no problems..


I think I am going to take my business to another bank!!! :realmad:


Once you bank with your bank long enough they won't hold them.

YardPro
12-16-2004, 02:10 PM
tell them with the new electronic check system there is no reason to hold the check unless they are trying to just make a few days interest on it, and if that's the case you'll take your business to another institution.

richard coffman
12-16-2004, 02:18 PM
Have you thought about going to credit card payments?? I've been looking this rout but don't know how it's worked for other LCO's.

YardPro
12-16-2004, 02:19 PM
generally the processing companies get anywhere from 4-6%

coastallandscapesolutions
12-16-2004, 02:26 PM
generally the processing companies get anywhere from 4-6%


We pay 1.9% plus $0.35 per transaction through QuickBooks/Intuit.

alpine692003
12-16-2004, 02:40 PM
Its a 5 day hold on cheques they said..

They said they need to hold the cheque because they need to know the cheques are verified and then they can release the funds..

;) ;)

rodfather
12-16-2004, 03:08 PM
Maybe Canada does things differently than the US...dunno?

alpine692003
12-16-2004, 03:44 PM
obviously :cry: :cry:

mtdman
12-16-2004, 03:45 PM
Even though I've been with my bank for 8 years, and even with the new check laws, my bank doesn't release funds to me for 2 days for a local check, 5 days for an out of town check.

:D

YardPro
12-16-2004, 06:31 PM
We pay 1.9% plus $0.35 per transaction through QuickBooks/Intuit.


that's cheap
we don't accept becuase they wanted an average of 5% (that included the machine)

we have just gone into the john deere preferred partners program and they will accept cc's on installs, and will also provide client financing on installs as well.