Many Canadian banks let you deposit cheques via mobile app by signing the cheque, taking a photo of it with your smartphone and entering a few details—all without visiting a local branch. Cheques may take days to clear, but some banks offer mobile cheque deposits with instant funds availability in Canada.
Most of these banks let you access mobile cheque funds immediately or, at the very least, within the same day. You typically don’t need to pay a fee for mobile cheque deposits.
| Bank | When are mobile cheque deposits available? | Get started |
|---|---|---|
Scotiabank | Instantly available, although Scotiabank may place a discretionary hold for up to 5 business days. | |
Simplii Financial | Usually available instantly, but Simplii may place a discretionary hold for up to 5 business days. | |
EQ Bank | Up to $1,500: Available 5 business days later Over $1,500: Available 8 business days later | |
Coast Capital | Instantly available, although Coast Capital may place a discretionary hold for up to 4 business days. | |
BMO | Under $1,500: Available instantly $1,500 or more: May be held for up to 8 business days | |
RBC | Instant if deposited before 6PM on business days. Some cheques may be held for up to 5 business days. | |
TD | Instantly available. At TD’s discretion, a hold may be placed on funds for up to 6 business days. | |
CIBC | Instantly available. At CIBC’s discretion, a hold may be placed on funds for up to 4 business days. | |
Tangerine | Instant but could be held for up to 5 business days. | |
National Bank of Canada | Some funds are available instantly. Amounts up to $1,500 may be held for up to 5 business days, and amounts over $1,500 may be held for up to 8 business days. |
While most banks and credit unions in Canada let you deposit cheques by mobile app, not all do. Here are just a few financial institutions don’t offer cheque services or require cheque deposits the traditional way—via teller or ATM.
Mobile cheque deposits typically appear in your account immediately, and in many cases, you can access funds right away. But banks may sometimes hold deposits for one to five (or more) business days to make sure cheques clear and don’t bounce.
If a bank advertises “instant” cheque deposits, its definition of “instant” is likely to vary. Some banks consider instant availability as funds cleared within that same business day, while others consider instant availability as making your funds available within minutes of depositing.
Depending on the bank and the cheque amount, most cheques clear within one day up to several business days. Depositing a cheque at a physical branch is typically the fastest way to clear funds. Depositing via ATM or mobile app will take longer.
For federally regulated financial institutions like banks, Canadian dollar cheques drawn from Canadian bank accounts can’t be held for longer than eight days. Provincially and territorially regulated financial institutions like credit unions may have different policies.
Cheques aren’t the only way to move money between bank accounts. Faster—and more modern transfer methods—include Interac e-Transfers and using a dedicated money transfer service like Wise, Western Union.
In Canada, mobile cheque deposits may be available right away but can take up to five business days or more to process, verify and clear. In some cases, only a portion of the cheque may clear immediately, and the rest clears the next business day.
The speed can also depend on the amount that’s deposited. For example, by law the first $100 must be available immediately if you deposit a cheque in person at a branch or by the next business day for other cheque deposit methods like ATMs and mobile apps.
Mobile cheque deposit may also be your only way to deposit a cheque with a digital bank. Some banks also allow you to mail cheques, but that would likely take longer than a mobile cheque deposit, thanks to the speed of snail mail.
The timing of when the cheque was deposited can create delays. Some banks like RBC may allow a cheque to clear the same day if deposited before 6PM on business days. If you attempt to deposit the cheque after that time, you’ll likely have to wait until the next day for it to clear.
Another likely explanation for a delay could be a lack of verification. If you’ve deposited a large amount—or an amount you don’t normally deposit—the bank may need time to verify the security of the transaction and ensure that the sending account has enough funds to clear the cheque.
Other common delay causes can include:
Most modern banks allow mobile cheque deposits through banking apps, but not all are instant. For more account options, compare the best chequing accounts and the best high-interest savings accounts.
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