Hey Canadians, how long does it take for a U.S check to clear?

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  • tehHinjew
    Confirmed User
    • Sep 2006
    • 5755

    #1

    Hey Canadians, how long does it take for a U.S check to clear?

    Just wondering after how long can you touch your checks you receive in U.S funds...
    any one?
    as for me its 15 working days.

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  • Deputy Chief Command
    Deputy Chief Command
    • Nov 2005
    • 4482

    #2
    15 working days times 2 .. divide that by four what do you get ?


    30 / 4 is ? let me anwser that for you .. . 30 / 3 >> 10


    but I asked 4

    Comment

    • Doctor Dre
      Too lazy to set a custom title
      • Jan 2001
      • 51692

      #3
      21 working days normally... they normally don't freeze mine anymore thought
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      Comment

      • Phoenix
        BACON BACON BACON
        • Nov 2002
        • 35475

        #4
        for me it is no hold...but i have the same checks coming in and bank in person

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        • Daymare
          Confirmed User
          • Feb 2002
          • 2674

          #5
          just ask your bank (once you've cashed/deposited for a couple of months) not to hold your US cheques. If they say no, then move to another bank. Both TD and RBC have no problems as long as you have a little history with USD.

          hope that helps

          Comment

          • Deputy Chief Command
            Deputy Chief Command
            • Nov 2005
            • 4482

            #6
            it should be between 7,5 and 10 I think




            15 / 2 >> 7.5

            30 / 3 >> 10


            does that be makin sense to you .. that a number game

            Comment

            • CDSmith
              Too lazy to set a custom title
              • May 2001
              • 51460

              #7
              None, My bank has always given me access to my US funds immediately.

              But now that I think of it, my bank manager did once try to instill a 21-day hold on all my US cheques about 6 years ago, because she found out that income came from adult. I had a lawyer contact her and the next time I was at the bank she withdrew the hold and apolgized.

              I've had no further nonsense with my US cheques ever since.
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              • tehHinjew
                Confirmed User
                • Sep 2006
                • 5755

                #8
                Originally posted by Daymare
                just ask your bank (once you've cashed/deposited for a couple of months) not to hold your US cheques. If they say no, then move to another bank. Both TD and RBC have no problems as long as you have a little history with USD.

                hope that helps
                thanks im with rbc and they dont hold my canadian checks so im sure after 2-3 more checks they will stop holding it

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                Comment

                • webgeek
                  Confirmed User
                  • Mar 2007
                  • 165

                  #9
                  national bank keeps them 30 days.
                  webgeek

                  Comment

                  • BOSS1
                    Confirmed User
                    • Sep 2005
                    • 4331

                    #10
                    you know you aint a baller if your checks get held

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                    • tehHinjew
                      Confirmed User
                      • Sep 2006
                      • 5755

                      #11
                      Originally posted by BOSS1
                      you know you aint a baller if your checks get held
                      lol fo sho
                      but i didnt receive that many checks yet since i put my payment option to a higher number

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                      Comment

                      • BradM
                        Confirmed User
                        • Dec 2003
                        • 3397

                        #12
                        No hold, instant clear. I make more than $100 a month tho.

                        Comment

                        • CDSmith
                          Too lazy to set a custom title
                          • May 2001
                          • 51460

                          #13
                          Originally posted by webgeek
                          national bank keeps them 30 days.
                          That's the same bank I deal with. They have no hold at all on my US cheques. As in none.

                          Not even one day, not one minute.

                          So, you may want to have a talk with your branch manager.
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                          Comment

                          • RawAlex
                            So Fucking Banned
                            • Oct 2003
                            • 9465

                            #14
                            For my bank it is immiediate credit, No hold, no issues. But I have done business with the same bank for a fairly long time, and I have only had a couple of bad affiliate payout checks in all of that time.

                            Good question: Are you cashing the checks personally or as a company?

                            Comment

                            • jeffrey
                              Confirmed User
                              • Jul 2004
                              • 1864

                              #15
                              I have no hold. But thats only because they know me and I have banked their for 10 years now.
                              I even put my US checks into the bank machine cause I often dont leave the house till they are closed, I just put 00.00 as the amount, and the next day the money is in my US account.
                              Coming Soon!

                              Comment

                              • hershie
                                Confirmed User
                                • Jun 2002
                                • 4642

                                #16
                                I cash my checks without hold, and take the US cash to ICICI Bank of Canada (www.icicibank.ca) and take out a term deposit that pays 5% for a 30 day term or higher for longer term.

                                Comment

                                • bogo
                                  Confirmed User
                                  • Jun 2002
                                  • 1982

                                  #17
                                  RBC clears my checks faster than i could deposit them.

                                  Comment

                                  • RichCashMike
                                    Registered User
                                    • Jul 2004
                                    • 40

                                    #18
                                    A lot of banks will try and hold them for 30 business days if you have no history with them. They have all tried to tell me this is "standard"... HSBC, TD, RBC, CIBC. I have closed (corporate) accounts at 2 banks because of this. Stick with a bank that knows you and there should be no hold up to a certain amount. For me, this was CIBC.

                                    Comment

                                    • 2MuchMark
                                      Mark of 2Much.net
                                      • Aug 2004
                                      • 51010

                                      #19
                                      I'm with Bank of Montreal and they never hold any checks.

                                      If you're a new customer to the bank, its normal for them to want to hold all checks for 15 to 30 days. But once you have been there a while and either trust you or you have lots of money or investments with the bank, they will clear all of your checks the same day no problem. When you're a good customer (you don't cost them any money or time), they love you and want to keep your business.

                                      m

                                      Comment

                                      • SmokeyTheBear
                                        ►SouthOfHeaven
                                        • Jun 2004
                                        • 28609

                                        #20
                                        it always depends on the bank and its branches rules..

                                        As mentioned , if your under 100k balance and new , you will prob get a 15-90 day hold. But all checks can be cleared instantly by the bank manager if you ask them, if they give you gruff , get a new bank.
                                        hatisblack at yahoo.com

                                        Comment

                                        • the alchemist
                                          Confirmed User
                                          • Dec 2004
                                          • 3271

                                          #21
                                          No hold here but I remember BMO trying to freeze them for 30 days... I laughed and left.
                                          264 349 400

                                          Comment

                                          • stev0
                                            Confirmed User
                                            • Aug 2003
                                            • 6801

                                            #22
                                            No hold... if you have a good relationship with your bank they shouldn't have a problem removing the limits.

                                            Comment

                                            • stev0
                                              Confirmed User
                                              • Aug 2003
                                              • 6801

                                              #23
                                              Originally posted by SmokeyTheBear
                                              it always depends on the bank and its branches rules..

                                              As mentioned , if your under 100k balance and new , you will prob get a 15-90 day hold. But all checks can be cleared instantly by the bank manager if you ask them, if they give you gruff , get a new bank.
                                              The balance wouldn't matter.. if someone has a 100k balance and is cashing 150k worth of cheques the bank would still question it and likely put a hold on them. If someone is cashing $300 worth of cheques and has a $500 balance more banks would see that as an acceptable risk.

                                              But it mainly depends on the relationship you have with your bank, whether they trust you, and if you've had any problems with cheques in the past.


                                              ps. Unrelated, but why the hell is firefox 2 using the red underline everytime I spell cheque the proper way? lol... hell, it even thinks everytime is spelled wrong.

                                              Comment

                                              • VeriSexy
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                                                • Apr 2002
                                                • 25463

                                                #24
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                                                • tehHinjew
                                                  Confirmed User
                                                  • Sep 2006
                                                  • 5755

                                                  #25
                                                  Originally posted by RawAlex

                                                  Good question: Are you cashing the checks personally or as a company?
                                                  personally... im thinking if i get a higher income of this, i should register a company

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                                                  Comment

                                                  • rowan
                                                    Too lazy to set a custom title
                                                    • Mar 2002
                                                    • 17393

                                                    #26
                                                    Originally posted by CDSmith
                                                    That's the same bank I deal with. They have no hold at all on my US cheques. As in none.

                                                    Not even one day, not one minute.

                                                    So, you may want to have a talk with your branch manager.
                                                    Same here - it's a little ironic that US dollar cheques get cleared faster than local Australian dollar ones.

                                                    Comment

                                                    • cool1
                                                      sex is good
                                                      • Sep 2001
                                                      • 24939

                                                      #27
                                                      my credit union makes me wait 6 to 8 weeks

                                                      Comment

                                                      • vidvicious
                                                        Confirmed User
                                                        • Oct 2002
                                                        • 4765

                                                        #28
                                                        Depends if i Go to the teller or ATM .. 10 days for the atm
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                                                        • BuggyG
                                                          Confirmed User
                                                          • Oct 2002
                                                          • 4179

                                                          #29
                                                          never get held
                                                          goes thru automatically on my business account

                                                          Comment

                                                          • Cman
                                                            Confirmed User
                                                            • Jun 2004
                                                            • 697

                                                            #30
                                                            About 3 weeks with Scotiabank
                                                            I could put stuff here, but you don't care.

                                                            Comment

                                                            • WiredGuy
                                                              Pounding Googlebot
                                                              • Aug 2002
                                                              • 34515

                                                              #31
                                                              It can take up to 40 days between depositing a US check and getting the guarantee it won't bounce. Most banks will let your funds be available as fast as instantly to 30 days depending on your relationship and history with your bank.
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                                                              I play with Google.

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                                                              • Mediachick
                                                                Confirmed User
                                                                • May 2006
                                                                • 897

                                                                #32
                                                                30 business days unless you're constant in your deposits. Im with Canada Trust, I usually never have a check held unless I deposit it in a different establishment then my own.
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                                                                • wyldblyss
                                                                  Confirmed User
                                                                  • Nov 2003
                                                                  • 5779

                                                                  #33
                                                                  Depends on where you bank and your history with the bank.

                                                                  Comment

                                                                  • hershie
                                                                    Confirmed User
                                                                    • Jun 2002
                                                                    • 4642

                                                                    #34
                                                                    I had my first bounced cheque a couple of weeks ago (ARS switched banks) and my bank didn't charge any fee for the returned cheque except interest. I thought they would seriously ding me.

                                                                    Comment

                                                                    • dready
                                                                      Confirmed User
                                                                      • Oct 2002
                                                                      • 5247

                                                                      #35
                                                                      31 days at CIBC is standard.

                                                                      I have an agreement though and they don't hold anything, ever.
                                                                      ICQ: 91139591

                                                                      Comment

                                                                      • webgeek
                                                                        Confirmed User
                                                                        • Mar 2007
                                                                        • 165

                                                                        #36
                                                                        Originally posted by CDSmith
                                                                        That's the same bank I deal with. They have no hold at all on my US cheques. As in none.

                                                                        Not even one day, not one minute.

                                                                        So, you may want to have a talk with your branch manager.
                                                                        you are right, I talked to my branch today, they'll not freeze it from now on.
                                                                        Thanks
                                                                        webgeek

                                                                        Comment

                                                                        • skillfull
                                                                          Confirmed User
                                                                          • Apr 2003
                                                                          • 4716

                                                                          #37
                                                                          21 business days with desjardins
                                                                          asked to remove the hold after two years (it had never been a problem) and now no hold at all
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                                                                          • donkevlar
                                                                            Confirmed User
                                                                            • Sep 2006
                                                                            • 4325

                                                                            #38
                                                                            Money Mart... I get the cash right away.

                                                                            I think they take $2 and then 3%, which to me is better than a 2 week wait.
                                                                            [email protected]

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                                                                            • Evil E
                                                                              Confirmed User
                                                                              • Apr 2005
                                                                              • 3201

                                                                              #39
                                                                              Do all you have guys have us accounts?


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                                                                              • CDSmith
                                                                                Too lazy to set a custom title
                                                                                • May 2001
                                                                                • 51460

                                                                                #40
                                                                                Originally posted by webgeek
                                                                                you are right, I talked to my branch today, they'll not freeze it from now on.
                                                                                Thanks
                                                                                Good to hear.
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                                                                                • CDSmith
                                                                                  Too lazy to set a custom title
                                                                                  • May 2001
                                                                                  • 51460

                                                                                  #41
                                                                                  Originally posted by knewon
                                                                                  Do all you have guys have us accounts?
                                                                                  I do.

                                                                                  I deposit all my US cheques into my US account, then I transfer the money to my Canadian savings account as needed, for no charge.

                                                                                  If I were to deposit the US cheques directly into my Canadian account however, there would be something like a $10 charge per cheque.... so yes, I absolutely do have a US account.
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                                                                                  Comment

                                                                                  • fris
                                                                                    I have to go potty
                                                                                    • Aug 2002
                                                                                    • 55792

                                                                                    #42
                                                                                    no idea, i never wait
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