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17165-002 (2020/12) and Eligible Enterprises Eligible and Personal Clients Banking Policy Funds toAccess Our access to funds policy describes the conditions R Cheques of $1,500 or less Cheques over $1,500 we apply when you deposit funds by cheque* in person with a branch employee, at one of our A Deposit at a Deposit in person Deposit at a Deposit in person banking machines or by digital deposit. It will give banking machine at a branch banking machine or at a branch or by digital you a better understanding of how we manage counter by digital deposit counter deposits by cheque. Only cheques issued in deposit Canadian dollars and drawn on a Canadian Fund hold period Personal 4 business days 5 business days 7 business days 8 business days financial institution are subject to our access (following deposit) to funds policy. banking deposit Access to first Immediately Immediately Immediately Immediately This policy does not affect the benefits you account $100 already have concerning the availability of your funds and the length of the fund hold Deposit accounts Fund hold period period for your cheque deposits. 4 business days 7 business days*** 7 business days 8 business days of Eligible (following deposit) Enterprises**
Availability of first $100 The length of the fund hold period for cheques > We have reasonable grounds to believe that: for Personal Banking Clients drawn on a financial institution outside Canada – the cheque has been deposited for illegal or or not in Canadian dollars varies between 15 fraudulent purposes; You can now immediately withdraw the first $100 of all and 90 business days. – suspicious transactions have been performed funds you deposit by cheque into your transaction under the terms of the Proceeds of Crime account or account with a line of credit, whether you (Money Laundering) and Terrorist Financing Act; make your deposit in person with one of our branch Restrictions on access to the first $100 – with regard to an Eligible Enterprise**: representatives or at a banking machine you can access and on the fund hold period – the credit risk has increased significantly; with your debit card or, as applicable, your Mastercard – an escalating overdraft balance is not being credit card. On an exceptional basis, we can refuse to give you reduced by deposits received; access to the first $100 or we can freeze cheques – a negative change in the credit score for a period exceeding the fund hold period in one or other behaviour scores has impacted Cheque hold period for Personal Banking of the following circumstances: credit risk; ** Clients and Eligible Enterprises – an unexplained change has occurred > The account has been open for less than 90 days. in the history of cheques deposited; Generally, if you are subject to a fund hold period, > The cheque: – a number of cheques deposited have been you can withdraw all the funds you deposited by – has been endorsed more than once; returned as dishonoured items from other cheque to your transaction account or account with – is deposited at least 6 months after the date institutions, thereby impacting the available a line of credit between four and eight business days on the cheque; balance in the account; following the day of the deposit. The length of this fund – is not encoded with magnetic ink; – a notice of bankruptcy has been issued hold period is based on the amount of funds deposited – has damaged or mutilated encoding; or creditor action has been taken. by cheque and the manner the deposit is made, – is unreadable by clearing and processing systems. as shown in the following table: * or another item > In the event of unusual circumstances beyond ** An Eligible Enterprise is a business with authorized credit of less our control. than $1 million, fewer than 500 employees and annual revenues of less than $50 million. *** The hold period can be 7 business days if the deposit is done through mobile digital deposit for clients who do not have a debit card or who have held one for less than 90 days.