Final answer:
Negotiation of a cheque at TDCT involves depositing it into a customer's account or, for non-customers, cashing it at a branch with ID and possibly incurring a fee. TDCT verifies cheques for fraud prevention.
Step-by-step explanation:
When you receive a cheque made payable to a TDCT (Toronto-Dominion Canada Trust) customer or a non-customer, the process of negotiation varies depending on the relationship with the bank. For TDCT customers, they can deposit the cheque into their existing account, either at a branch, via an ATM, or using mobile deposit services. The funds will be available according to the bank's fund availability policy. Meanwhile, for a non-customer, negotiating a TDCT cheque generally requires presenting the cheque at a TD branch for payment.
It's essential to bring government-issued identification for verification purposes. Non-customers may be subject to a cheque-cashing fee and should inquire about any potential charges before proceeding. TDCT may also verify the cheque and its issuance before releasing funds to ensure against fraud. If a non-customer wants to avoid fees or does not have identification, they might consider asking the TDCT customer to cash the cheque and provide them with the funds directly.