Understanding Cheque Hold Periods

The length of the hold period for cheques depends in part on the currency and amount of the cheque. Generally our hold guidelines govern cheques in Canadian dollars, undamaged and properly encoded.

• Cheques deposited in person are subject to a hold period of up to 4 business days
• Cheques deposited remotely (ATM or Remote Deposit Capture) are subject to a hold period of up to 5 business days

NOTE:  Saturday, Sunday and holidays are NOT considered business days

Hold periods may be extended longer than the above mentioned guidelines at the discretion of the Credit Union. These circumstances may include but are not limited to:

• Foreign currency items
• Circumstances where the Credit Union believes the deposit is being made for illegal or fraudulent purposes
• The cheques is not properly encoded or is damaged in some way
• The cheque has been endorsed more than once
• The date of issue on the cheque is 6 months old or older (stale dated)