cheque deposting question

[Quadratic]

I put in a cheque for $8000 on Monday. I've never deposited a cheque that large before. On average, how long does it take to clear? I'm going to need the cash to purchase some items soon.

 

[vench]

I think something that large usually takes between three to five business days.


vench

 

[JMan]

Depends on your banking history and whether it's personal or not... if you always have $3 in your account they may hold it unless it's a recognizable institution paying you. If it's personal, they'll probably wnat to hold it so you might want to get it certified in order to have the loot right away.

J

 

[Jennika]

it soooooooooooo varies on your status with your bank. call your bank and ask

shouldn't take more than 5 days if it's a canadian cheque

 

[stir-fry]

TD was always 10 business days for me.
I don't know about any other banks though.

If you want, you can call them and ask them to clear it sooner, they usually will.

 

[Quadratic]

Thanks for the answers. I bank via PC financial. So that's CIBC basically. I'll call them, but I knew I'd get the answer faster if I posted here

 

[acheron]

1: must be nice
2: ask your bank - depends on how your account is set up with them.
3: probably 4-7 days although it can be as long as 10 days if your bank doesn't "know you".

 

[pr0nstar]

Depends on your account.

I can deposit a cheque and take out the funds the next transaction.

pr0nstar

 

[opium_souldjah]

you can ask your bank to do a partial hold

 

[noodle]

With BOM I can access the funds right away to $2000 max. They hold the rest until the cheque actually clears.

 

[LivingRoomPornstar]

Originally posted by stir-fry
TD was always 10 business days for me.
I don't know about any other banks though.

If you want, you can call them and ask them to clear it sooner, they usually will.

Dude, ten business days??? Was it drawn on a bank out of province?

That's waaay too long.

Dan
PS- we should review those investments soon. When I get back from NFLD.