deposit US$ cash at atm? | Tangerine Bank | Discussion forum

yuj said
Is it possible to deposit US$ cash bills into my new Tangerine US$ account using Scotiabank atm ?  

To a USD account, no. For two reasons. One, Tangerine only allows a chequing account to be linked to either of the CHQ or SAV buttons at the ATM. Two, most banks do not allow USD accounts to be accessed at the ATM.

You can deposit USD cheques or cash to a Tangerine chequing account, but it will be converted at the prevailing exchange rate at time of processing. As well, some banks charge an additional ATM correction/adjustment fee, so you should investigate this.

Cheers,
Doug

yuj said
Thxs Doug.

I’m wondering if anyone knows, even though Tang cafe’s are currently closed, (do they only handle account opening administrative tasks or) if they were open, do they accept C$ (or USD) cash deposits? or accept USD cheques for a Tang USD account?  

Hi yuj,

They probably can accept them, but I suspect they won't deposit them that day. They'll simply give you a receipt that they've accepted them and will courier them to their Toronto processing centre for next day credit. That's typically how they handle CAD cheque deposits, though in that case, they'll encourage you to deposit it at a Cafe ATM for same-day credit.

Cheers,
Doug

cruzinalong said
No you cannot deposit USD (i.e. cheque/currency) at a Tangerine ATM. I have a Tangerine USD account for a long time. I deposit my USD (i.e. cheque/cash) to my USD account at one of the 5 major Canadian banks. I setup up a transfer in Tangerine from external bank to Tangerine USD account. Transfer to Tangerine happens the next business day. The debit is posted on the external bank account two business days later.  

Scotiabank ATM is equivalent to Tangerine ATM. The answer is no. Explained in previous message.