Last week I deposit a cheque and the teller says they need to hold it for a week before I gain access to the funds. No problem, I understand the cheque can bounce.
So this week I request a bank draft instead, but upon deposit the teller still says they need to hold it for a week. So I asked her, "What's the point of a bank draft then if it is subject to the same holding time?" The teller told me there's no difference between a cheque and a bank draft. Is this true? Then why does the bank charge a fee for a bank draft?
Also, both times the teller asked me "Is it OK to hold it?" and "Do you agree to the hold?" I said "No, I don't agree." both times and asked for other options but they both said I had no choice. Is this true? If so then why do they bother asking?
