Cheque Hold Policy

The information in this policy is in addition to the terms and conditions of Vancity account use as outlined in the Personal Account and Services Guide and the Business Member Agreement.

In branch deposits.

When depositing cheques in branch, Vancity will provide you with access to the first $100 of the cheque deposit amount. In some cases, the remaining balance of the cheque deposit funds will be held until the clearing process is complete. The standard hold-funds period for cheques drawn on a financial institution are outlined below.

Cheque is drawn on a financial institution

Hold Funds Period

Starting from the day the cheque is deposited.

Within BC in Canadian currency encoded with magnetic ink character recognition and are not damaged or mutilated

7 calendar days

Within Canada in a province other than BC

14 calendar days


21 calendar days

The hold funds period may be extended in specific circumstances. An example of a specific circumstance can include but is not limited to situations where an investigation as to the validity of a cheque is required. In these instances Vancity will hold the funds from the cheque deposit for a minimum of 21 calendar days.

The factors that can influence the decision to hold funds from a cheque deposit such as:

Vancity will inform you when processing the cheque deposit if funds are being held, the amount of the hold, and time period of the hold. In some circumstances cheques may be sent on “collection”, which means that the funds will be credited to your account only once the cheque clears the other financial institution and Vancity has received the funds.

ATM and mobile deposits.

The first time you receive your ATM card in branch, your ‘deposit hold limits’ are determined by Vancity based on a risk assessment performed during account opening. These limits are shared with you, and tell you how much funds are available to you when you make a deposit through the ATM or online by Mobile Deposit. From time to time, at your request, Vancity may review your deposit hold limits and assign a new hold limit based on a review of your account.

When depositing through an electronic channel, the hold amount is based on the accumulative deposit amount for the different channels (ATM, mobile deposit) made in a 24 hour period.

When we remove the hold after the hold period, the funds are available to you. A cheque can be returned after the hold period. If the cheque is returned for any reason, we will debit your account for the full amount on the day it is returned to Vancity.