Canadian Direct Financial Canadian Western Bank Negative Review | Motive Financial | Discussion forum

Canadian Direct Financial placing holds on my cash deposits, when questioned about this, their response was to close my account

I had opened both a checking and savings account with Canadian Direct. Any deposits were made into their parent company's (CWB) ATM. On numerous occasions, holds were placed on cash deposits, and remained on hold even after the ATM had been serviced. This not only happened to me, but to my brother as well in another Alberta city. In addition, my brother checked his account one day, and found a hold placed on his funds for no apparent reason. Canadian Direct could not provide my brother with a reason as to why the hold was placed on his account. I brought my problems to Canadian Direct attention. They were surprised at the problems my family was experiencing, and admitted that this should not be occurring. Even after the discussion, the problems still continued. I finally sent a terse email to their parent company, Canadian Western Bank CEO, how did they handle the problem?? they just shut my account down. Placing a hold on cash deposits is the equivalent of going to the supermarket, paying with cash, only to be informed by the cashier that they would have to hold my milk, meat, and eggs until my cash clears. Absurd to say the least. I contacted their ombudsman, no resolution to the matter.