She checked her bank account with Tangerine — an online subsidiary of Scotiabank — and confirmed that her customer had transferred $1,600. When she called Tangerine, Pui says she was only told the payment had been recalled by a bank in South Korea. "And that's when I noticed that there was an entry called 'reversal of payment' — $1,600 was out of my bank account," she said. Banking ombudsman Sarah Bradley says she would like financial institutions to be transparent with their customers. Further complicating things, the growing scale of the gig economy means many small business operators are using personal accounts, which may offer fewer protections than business account options — account agreements vary among banks.

Source: CBC News June 07, 2021 08:00 UTC