Understanding RBC Royal Bank’s cheque hold policy is essential for managing your business’s cash flow. Below is a simplified table outlining the hold durations based on the type of cheque and deposit method:
| Type of Cheque | Deposit Method | Hold Duration** |
|---|---|---|
| Canadian Dollar Cheques Drawn on Canadian Banks | Deposited in person at an RBC branch | 4 |
| Deposited via ATM or other methods | 5 | |
| U.S. Dollar Cheques Drawn on Canadian Banks | Any method | 5 |
| Cheques Drawn on U.S. Banks | Deposited at a Canadian RBC branch or ATM | 15 |
| Cheques Drawn on Foreign Banks (Other Than U.S.) | Any method | 25 |
**business days after the first business day following the deposit
Key Points:
For more detailed information, please refer to RBC’s official cheque hold policy.