Will the hold period for my cheques remain the same following the migration to National Bank?

National Bank has assigned the cheque hold period that most closely matches the one you previously had with Laurentian Bank.

Your hold period helps determine the amount of deposited funds that are immediately available and the length of your hold period. When you deposit a cheque, a hold may be applied depending on the deposit amount, the deposit method, and the hold period assigned to your account.

Hold periods are used to help manage the risk associated with cheque deposits, including verifying that the issuing account has sufficient funds and protecting against fraudulent or counterfeit items.

If you need faster access to your funds, you may wish to use digital payment options such as Interac e-Transfer®, which allows you to receive funds instantly (up to applicable limits) without a hold period. This can allow you to complete certain transactions without having to visit a branch or ABM.