Quote:
Originally Posted by Harlequin
You know the grant cheque? I deposited my grant cheque into my bank and it shows the amount there in credit but it isn't available for me to withdraw. And it's been like 5 days now. Does the amount need to be verified or something? And should it take so long?
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Depends on your bank, on what type of account you have, and whether or not you have ever deposited a cheque which bounced before.
I am with CIBC, and when I deposit a cheque at an instant teller, the money is available to be immediately withdrawn. The only time this changed was when a friend wrote me a cheque which bounced. For about 2 months after that, every deposit I made at a machine was held until they could verify it.
A lot of my friends are with different banks, and have to wait for the bank to release deposits no matter what.