Up Yours Scotiabank!

Today I went to Scotiabank, where I have held an account for the past 20 years or so, to cash stipend/scholarship cheques issued to me from a relatively reputable establishment, the LARGE university at which I study, and another from the Government of Canada. Rather than depositing at the ABM, I went in to see the teller, in the hopes that my money would immediately become available for me to pay on a bill that was due.

The teller quickly informed me that I wouldn't be able to get at my money for 7 days...unless I "negotiated" with my home branch. Yeah that's what I what I want to spend my day doing. Instead of, you know, working. Or, she asked, "is there anyone who would know you at this branch"? Hmmm...that depends...have they been monitoring my internet banking activities, or spying on the ABM machines? Like I have time to build a rapport with my local banker. Like they have time to care who the !@#$ I am. Has anyone told the people working in banks that we live in a "digital" age? Anytime I mention internet banking to a bank teller they look at me like I'm talking about flying dragons or Atlantis or some shit.

Whatever happened to good old-fashioned photo ID? I've got so many ID cards stuffed in my wallet I can barely walk straight, and yet I need some banker to vouch for me just to deposit a cheque? WTF??

Actually, the Canadian Bank Act states that banks must cash cheques on the spot with two pieces of photo ID, even if the cashee doesn't have an account at their bank. The catch is that the cheques have to be for less than $1,500 each. So, a stranger with no account could go into a bank and show 2 pieces of ID, getting cash for 10 cheques worth $1,500 each. But, you can't put a single cheque worth more than $1,500 directly into your own bank account. Clearly these regulations need to be updated. A 7 day hold in the age of electronic commerce is just ridiculous, and so is keeping track of your customers by personal rapport.

Oh, and since my cheques were for less than $1,500 each, I could have asked for cash instead and then deposited it back into my account. Instead, I'm waiting 7 days while the bank sits on its thumbs before I can access my money to pay my bills. All this "service" in return for all the "service charges" I'm nice enough to pay them for the privilege of lending them my money. What a bunch of bums.