Daily limit, holding funds and authorized transit

It is a cautious measure for each financial institution to hold back funds from a cheque deposit to ensure that the funds have in fact been deposited into the account. 

 

DAILY LIMIT AND HOLDBACKS    

Type of deposit	Cheque ≤ $1,500	Cheque ˃ $1,500
Deposit at the counter	4 business days starting the day following the deposit
Mobile deposit	7 business days starting the day following the deposit  *Note that since February 2, 2025, the holdback period for mobile deposit cheques has been 7 business days (this is a temporary situation).
ATM deposit	5 business days starting the day following the deposit	7 business days starting the day following the deposit

 

Maximum holdback time for other items 

U.S. currency cheque deposit from a Canadian institution: 12 business days 

U.S. currency cheque deposit from a U.S. institution: 19 business days 

International cheque deposit: not available 

 

Access to the first $100 

The first $100 of a deposited cheque can be withdrawn:  

• Immediately, if you deposit the cheque in person at the counter. 

• The next business day following the deposit, if you deposit the cheque in another way, such as at an ATM or by mobile. 

 

This applies to cheques deposited in Canada that are:  

1. Encoded with magnetic ink to allow character recognition. 
2. Not damaged or mutilated to the point of being illegible by cheque clearing systems. 
3. Drawn from a business location of a financial institution located in Canada. 
4. Issued in Canadian dollars. 

 

UNI is not required to comply with the above if: 

1. It has reasonable grounds to believe that the deposit is being made for illegal or fraudulent purposes in connection with the account. 
2. The account has been open for less than ninety (90) days. 
3. The cheque has been endorsed more than once. 
4. The cheque is being deposited six (6) months or more after the date of the cheque. 

 

AUTHORIZED TRANSIT 

Authorized transit is an amount determined by UNI to allow an individual to cash cheques without a holdback on funds. Apply for authorized transit now, if you have not already!¹ 

For full details on daily or other limits, contact your advisor or your branch. 

• Holdback on an item in U.S. currency² 

• ATMs withdrawals 

• Direct payments 

• Cashing government cheques 

  

1. An analysis of your situation by the branch will determine an authorized transit amount and an ATM funds hold that meets your needs.
2. The holdback is applied to the value of the item converted to Canadian dollars if the account is in Canadian dollars.