Big Banks. Yuck.

I had a GIC (guaranteed investment certificate) at Big Bank A. I had debts from a marriage breakup. Okay, cash in the GIC and pay off the debts. Problem: I did not have an active account at Big Bank A anymore. Need to transfer the money to Big Bank B.

Well, it took over a week to process the paperwork and produce a bank draft for the money from the GIC. Then, even though it is a draft from Big Bank A, and I have a well established account with Big Bank B, I was told that the money would have to be on hold at Big Bank B for 15 business days!

Bottom line; MY money took about 4 weeks to move from Big Bank A to Big Bank B.

Banks. Gotta love ’em.

One Comment

  1. Taryn says:

    Well written article.

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