Every financial institution takes the precaution of withholding funds when a cheque is deposited to ensure that the funds have been properly paid into the account.
The authorized transit is an amount determined by the business location that enables you to cash cheques without having a hold placed on the funds. Ask for an authorized transit now!1.
To learn the details on daily or other limits, contact your advisor or your business location.
1. The business location will analyze your situation to grant you an authorized transfer amount and an ATM block that meets your needs.
2. The amount is held at the value of the item converted into Canadian dollars if the folio is in Canadian dollars.