any hold on ATM deposit at Scotiabank?

[513263337]

I thought any deposits made through an ATM is subject to hold of certain days. They need this hold period to confirm you actually put in the envelope the amount of money you claimed you put in.

Today I made a small amount of ATM deposits at Scotiabank and when I got home, I was surprised to see there is no hold on the money. I was able to use the money to instantly pay some other bills.

Well I definitely understand when you have a good relationship with a bank they might reduce your hold period / increase the non-hold limit. But for me, although I have been with Scotiabank for a few years but I never really dealt with a personal account manager before for anything. Even the number of times seeing a teller face to face doesn't exceed 3 or 5 every year. So there isn't really any "relationship" between me and them. So I just wanted to know if the no hold on my ATM deposit today is the same for everyone, or is it because I was somehow at some point recognized as a "good relationship" customer by Scotiabank.

Appreciate someone who deal with Scotiabank to share their experience. Thanks.

[guessaaa]

Banks usually have a "release amount" for your account where anything up to that amount is available for you to use right away.

[MoreMiles]

If you are their top client, you may be granted a complete "no-hold" access on your ATM, meaning instant cash withdraw on a cheque deposit without waiting.

[angel_wing0]

its not just scotia, it's like the same with every bank. Talk to a rep and have them to give u a better hold limit/etc. If you have been with them a long time, you'll likely get it.