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Our Hold Policy on Cheque Deposits to any Personal Deposit Account

For purposes of this policy:

  • "Cheque" also includes certified cheques, bank drafts, money orders and other instruments
  • Saturday, Sunday and holidays are not business days

Understanding hold periods

When you deposit a cheque in your Personal Bank Account, a hold period may apply to allow time for the cheque to clear. The funds will appear in your account at the time of deposit, but you may not be able to access them until the hold period expires. The day of deposit and hold period expiry are based on the location of your branch of account (not local time where the deposit was made). Even after the hold period expires, there is no guarantee that a cheque will not be returned to us unpaid. If a cheque is returned unpaid for any reason at any time, either during or after the expiry of the hold period, we have the right to charge the amount of the cheque to your account.

We may also accept cheques from you on “collection”, meaning that only if and when CIBC receives payment from the financial institution on which the cheque is drawn will the funds be credited to your account and you have access to the funds.

How long are funds held?

The length of the hold period for cheques depends on the currency, amount of the cheque and other factors:

  • For a CDN$ cheque drawn on a financial institution’s branch located in Canada, the normal length of time we will hold funds is 4 business days after the day of deposit. The maximum hold periods are as follows:

CDN$ Cheque Amount

Way you deposit

Maximum Hold Period

$1,500 or less In Branch 4 business days after day of deposit
By ABM or any other way 5 business days after day of deposit
Greater than $1,500 In Branch 7 business days after day of deposit
By ABM or any other way 8 business days after day of deposit
  • For a non-CDN$ cheque drawn on a financial institution’s branch located in Canada, the normal length of time we will hold funds is 10 business days. The maximum hold period is 20 business days.
  • For a non-CDN$ cheque drawn on a financial institution’s branch located outside of Canada, the normal length of time we will hold funds is 15 business days. The maximum hold period is estimated to be 30 business days.

Reasons we may hold the funds beyond the maximum period

We may extend the maximum hold periods in some circumstances, including (but not limited to) where:

  • CIBC has reasonable grounds to believe that the deposit is being made for illegal or fraudulent purposes in relation to an account
  • an account has been open for less than 90 days
  • the cheque:
  • is not encoded with magnetic ink character recognition or is not readable by operational systems (for example, if damaged or mutilated);
  • has been endorsed more than once;
  • is deposited 6 months or more after the date of the cheque The hold period under these circumstances is estimated to be 30 business days and could be longer for non-CDN$ cheques drawn on a financial institution’s branch located outside of Canada.

Access to Deposited Funds Limits

Access to Deposited Funds Limits may apply to cheque deposits you make in branch, at an ABM or any other way. These limits are the dollar amount you will have access to until the hold period expires on your deposit. To ask about your Access to Deposited Funds Limits, call Telephone Banking 24 hours a day, 7 days a week at 1-800-465-2422 or visit your nearest branch. CIBC’s Hold Policy and Access to Deposited Funds Limits are subject to the Personal Account Agreement, which governs your account.


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