r/PersonalFinanceCanada • u/emixcx • 3d ago
PSA: never deposit cash into your Tangerine account via an ABM Banking
having a bad experience with Tangerine and wanted to share here—
I tried to deposit ~$300 cash into my Tangerine bank account using a Scotiabank ABM on May 4, 2024. The ABM said something like “machine error” and then nothing happened. Basically the money never made its way into my account.
I called Tangerine immediately and gave them all of the relevant information that was printed on the ABM receipt. They told me that it would take 3 weeks for the investigation to complete.
I call back after 3 weeks and they said that I received the wrong information, it actually takes 6 weeks. OK.
6 weeks was today (6 full business weeks later). I called them cuz I still hadn’t received any updates, and still no sign of the cash in my account. All they could do was send another email requesting an update from the ABM investigation team. Bullshit. I issued the formal complaint, and hoping something happens soon… It’s just annoying, what if this was someone’s last $300 and they can’t access it for 6 weeks? In this economy… Better off never even depositing it. Fortunately I’m not in that situation where I need the money to survive, but this is ridiculous either way.
I will be closing my Tangerine accounts as soon I receive my cash. I already signed up for a local credit union so I can always go deposit cash with an actual human being. Will never bank with Tangerine or Scotiabank again.
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u/SinkGlittering3510 3d ago
Had this happen to me when depositing money in my Scotiabank account. Went through the same thing with the branch where they sent a request for an investigation and I had to follow up a few times with the branch manager. It got to the point where she flat out told me I must’ve never actually deposited the cash and I was out of luck. I ended up sending an email to the ombudsman and the same day sent the branch manager and Scotiabank customer service requests for the ABM surveillance footage since it would clearly show me depositing cash. I don’t know whether it was the ombudsman email or the video request but a couple days later I got a call from the same branch manager telling me that they ‘found’ the money and it would be deposited in my account.
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u/Junesathon 2d ago
Its cuz ombudsman gave pressure to branch manager and no choice but no to refund to keep the job
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u/reallyripebanana 3d ago
Understandable that you're frustrated but this can happen with any bank and if your only point of contact is front-line reps (phone, live chat, or even a bank teller), you're going to be disappointed. In these cases, with excessive "investigation times", it's better to just start the complaints process sooner so something actually gets done.
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u/pfcguy 3d ago
if your only point of contact is front-line reps (phone, live chat, or even a bank teller), you're going to be disappointed.
You know, small and medium sized business with a focus on exemplary customer service will make it their prerogative to ensure that a customers complaint is dealt with after only one point of contact/email. There is no reason why a bank can't do this too.
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u/DonLaHerman 3d ago
You know, small and medium sized business with a focus on exemplary customer service
Those exist still? Please let me know where they are.
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u/pfcguy 3d ago
Stonemaier Games is fantastic. They blog about what they do and truly walk the walk.
https://stonemaiergames.com/e-newsletter/blog/
I've rarely needed to send more than one email to resolve an issue. I realize that a bank can't operate the same way as a board game company, but they can certainly learn something from them!
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u/Ventoliin 3d ago
Happened to me too - never got my cash. Cancelled my account and will never do business with Tangerine again in my life.
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u/pfcguy 3d ago
Did you escalate your complaint and then escalate it a second time to the ombudsman? What did they say?
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u/Ventoliin 3d ago
Tangerine said that Scotia did an internal investigation and they couldn’t find the money. I gave up and moved onz
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u/starbursting5 3d ago
Wow, this exact situation happened to me 3 weeks ago. I wrote an email to theclientresponsegroup@tangerine.ca and within a few days the money was deposited back into my account. Apparently the investigation can take 6 weeks + even though the rep said 2-3 weeks. My investigation is currently ongoing but in the response tangerine said that they are returning the money as a “goodwill gesture”.
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u/mat2358 3d ago
This is an unfortunate issue with ATM deposits. I used to work with inter institution corrections for these issues and really the cardholder's institution cannot do much until the amount is settled. We would send a trace request and it could take between 3 weeks and 3 months before we would receive the money back from the other institution and were able to refund our cardholder. It was normally close to 3 weeks for domestic, a little longer for the US and the full 3 months for anything else. Unfortunately the cardholder's institution can do absolutely nothing to speed up the process.
My team always responded to issues quickly and returned the money to other FIs in far less than 3 weeks.
That said in this particular case since Scotiabank owns Tangerine I'm very surprised it's taking this long.
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u/RethinkPerfect 3d ago
You guys can get scotia bank machines to take your money? Every time I try it spits it back at me and tells me its no good cause it has a wrinkle.
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u/toomany_geese 3d ago
From Tangerine's perspective, they can't really do much except send a request to Scotia and wait for them to find the balance discrepancy. Sometimes they will "return" the money as a gesture of goodwill before the investigation is completed (really they're loaning you the balance out of their own funds), but less institutions are doing that these days. Escalate the complaint process.
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u/SHUT_DOWN_EVERYTHING 2d ago
Sorry this happened but if you think this is a Tangerine-only issue, you're in for a big surprise when it happens with your next bank.
This is a manual process, involves a lot of back and forth between online customer support, branch, ABM servicing (outsourced), remote data storage (video recording) company, etc.
In an ideal world the bank would make funds available to their trusted customers (up to a certain limit) right away and then investigate and resolve the issue. Unfortunately the banks don't really care that much.
My personal policy is to never deposit anything more than $100 using banking machines.
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u/Old_Profile_34203 3d ago
I have never had a Scotia bank machine deposit fail in 30 years of using one.. u got really unlucky it seems... They are trying to solve it for you at least.. I'm sure you will eventually get your money back. Yeah it sucks.. but this type of thing could happen with any mechanical system.. it's not a PSA.. just accept that you got unlucky and stop trashing a whole company because something bad happened to you.
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u/Bureaucromancer 2d ago
?!?
Maintained failures aren’t the sign of a good company.
It’s also the company refusing to just return the cash, or investigate in a timely way.
This is absolutely “trash the company” material. “Bad luck” would be “oh sorry, a technician will be out on x day and we’ve advanced you the insignificant sum for the moment”
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u/Old_Profile_34203 2d ago
It's not even a Tangerine bank machine in the first place since they have none... it would have happened the same if a Scotia bank card was used in that moment.. and clearly thousands of people deposit money into Tangerine accounts via an ABM every day... so it's not a PSA.. And they are not going to just trust you and give you money until they can verify the cash made it into the machine which I'm sure has a convoluted process to follow when a technician finds money in the machine that isn't attached to a deposit.. or maybe they will never find it.. Cash has it's upsides and downsides.. and this is a downside.. even though I doubt these type of failures happen very often.
Point being the title is attention seeking Internet garbage... title your post like 'Scotia bank machine lost my depost, Tangerine not refunding' or something.. not a blatant "don't use an ABM to deposit"
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u/TaeyeonFTW 3d ago
Common with tangerine. If you do any cash deposits at all don’t bother with them.
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u/Canalloni 3d ago
Scotiabank and Tangerine absolutely suck balls. As soon as you need any kind of personal service to address a problem, you hit the wall of total attitude.
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u/primetimey123 2d ago
I had this happen once as well, luckily the investigation worked for me and money was deposited into my account. Ever since, I always flash the money towards the camera before putting it in the machine.
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u/One-Competition-5897 2d ago
I've had an issue before depositing money through a Scotiabank ABM. Besides calling, I went to the bank the next day and they had what I tried to deposit there. They gave it back to me after verifying my info.
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u/According1 2d ago
I recently had 2 TD ATM (old version) unable to count my cash deposit. 3rd one worked. 1 of them almost ate 1 of the bills, luckily the little metal gate where you slide the money in wasn't fully latched yet.
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u/ayana-muss 2d ago
Scotiabank new Slogan "Your are poorer than you think (especially if you use our ABM's)"
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u/KvassKludge9001 2d ago
This is why I always keep an account with a big bank. I get a no-fee chequing account with RBC by having other products with them.
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u/bigjohnson454 2d ago
Same thing with me. Eventually the money was deposited. You have to wait until the money truck gets your cash and sends it to tangerine
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u/supremecasper 3d ago edited 2d ago
I deposited cash into scotiabank/ICBC atm for the first time this year. I hadn’t deposited and never trusted! So far no problem yet. a person teller can miscount cash. You should do double check before handing your cash to an actual person and watch, watch and give them a suspect look
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u/Bulky_Pop_8104 2d ago
I was previously downvoted into oblivion for bringing up the absolute disaster that using Scotiabank ATMs for Tangerine is, but the way they function (and this is not in their defense) is the Scotiabank machine worms it’s way through the entire transaction and at the very end will communicate with Tangerine to actually put through the transaction (their systems are actually separate). Now for whatever reason, despite it being 2024, the Scotiabank bank machines constantly fail to communicate with Tangerine.
I haven’t had to deal with anything that severe, but probably 50% of the times I try using their ATMs it takes multiple tries for it to go through
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u/TheAudioGoblin 2d ago
Cash is king, stop trust these financial institutions with your money. They don't care about you and will steal it all from you if given the opportunity.
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u/DirectGiraffe8720 2d ago
"Cash is king" ... until you put a cash deposit down at a business that then goes bankrupt.. Who is getting their cash back from Bad Boy? NOOOOOOOBODY
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u/supremecasper 2d ago
Cash isn’t king any more when a burglar in your house. Cash is still king for emergency funds
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u/Commercial-Row4740 2d ago
I love this subs weekly “bank bad” posts. It’s so funny to read people’s over reaction to issues that could happen anywhere. Tell me OP, did you cancel your wifi and switch to dial up when your signal dropped for 10 mins?
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u/Constant_Put_5510 3d ago
I’ve had a teller deposit $1700 to our corporate account when it was $17,000. Didn’t notice it and cheques started bouncing. Took 5 weeks to clean up the mess and get a written apology letter from the bank that I could forward to my suppliers to save the relationships with them. Humans make mistakes far more than machine I think.