Korean Job Discussion Forums

snifey · Joined: 15 Nov 2004

So I read somewhere in this forum that if you wire money to banks in Canada they will hold the funds for a month. Can anyone confirm if this is true or not? Someone I know from South Africa could access her money in 2 days. Why the difference?

Return Jones · Posted: Fri Nov 19, 2004 5:51 pm Post subject: Re: holding money in Canada

Never heard of this. I have wired money to PC Financial and TD Bank and have had no problems using the money as soon as it was in the account (usually within 48 hours).

schwa · Joined: 18 Jan 2003 Location: Yap

Maybe with some kinds of weird paper negotiables, but the above poster is right -- wire transfers are reliable & quick, sometimes even under 24 hrs.

Randall Flagg · Posted: Fri Nov 19, 2004 6:24 pm Post subject:

Never had a problem. The longest I had to wait was 3 days
I don't know why. All the other times it has been 2 days.

tomwaits · Joined: 05 Feb 2003 Location: PC Bong

Where does this nonsense come from? A wire transfer (in either direction) will take a few days.

Sage Monkey · Joined: 01 Nov 2004

On wires, no... but on deposits, that depends on how your account it set up. Phone your bank and find out if you have "funds holding" on your deposits. If your credit rating is good, you can get the value raised before it won't allow you access. I have a $10,000 holding limit on mine meaning that I will have free access to the first $10,000 of any deposit but once it goes higher than that, I will have to wait until it is cleared by the bank.

Most younger people have a hold on the accounts of $1000 to $2000.