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1.7

Here's why you should be careful when starting a Momentum Plus Savings account.

So I set up a Momentum Plus with Scotiabank around November/December of last year after promptly leaving my old bank. I decided to set up a Momentum Plus as well as my student chequing, just in case I needed to, or wanted to, save for a vacation or expensive purchase. I put some money in there to save for a trip I'm taking, and 2 months later (today) I go to transfer the money from my Savings to my Chequing since my trip is in a couple days, and what do you know, the transfer I went to make said there was no funds in the account! I try it through the app first, then online banking, and then at the ATM at my local branch. When I went to look at the account again on the website, it said all my money was on hold!

I was starting to get pretty pissed off, so I call the main help line since it just so happened to be a holiday. I get transferred to the Momentum Plus department, and I tell them that all the funds are on hold, despite being in there for over 2 months give or take. She looks into it and says they can't figure out why the money was stuck on hold, even though I applied in-branch and it was activated right then and there. So I ask if she can take the hold off the funds so I can access them (since at this point, I'm two days away from my trip) and she says no, that's something you have to do at the branch.

So needless to say, I'm pretty angry that I can't access my own money that I put in my account. Hopefully, I can actually get it back when I go in the branch, but if I can't I'll be having a word with Scotiabank, and more than likely closing that account.

TL;DR version: My bank is holding back my money in my Momentum Plus Savings account, and only a representative at my local branch can get the hold off.

So thanks for keeping my money from me Scotiabank.

Reason of review: Poor customer service.

Preferred solution: Let the company propose a solution.

Scotiabank Pros: Use to be good service.

Scotiabank Cons: Customer service, Fact they are holding my money from me.

Location: 936 Bedford Hwy, Bedford, NS B4A 3P1, Canada

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