Deposit Cheque On Weekend When Bank Is Open = Processed Immediately?

[Jucius Maximus]

Let's say I go into a branch of my own bank (CIBC / PC Financial) while it is actually in business during the weekend and deposit a cheque into the ATM (not thru a teller.)

Will they process that cheque immediately because the bank is open? Or will I have to wait for the next business day for the funds to be moved from the other account into my account?

[B0000rt]

I believe you still wait until your bank clears the funds with the other bank..

The only way to get the cash immediately is to go to the issuing bank (on the cheque) and withdrawal the cash.
Even Western Union cash advance cashing isn't guaranteed (what if the issuing cheque account doesn't have enough funds)

[Jucius Maximus]

I believe you still wait until your bank clears the funds with the other bank..

What if the cheque was also from CIBC / PC Financial? Do I still have to wait until a business day? Or does Saturday count if the branch is open?

[tkyoshi]

What if the cheque was also from CIBC / PC Financial? Do I still have to wait until a business day? Or does Saturday count if the branch is open?

All Saturday Cheques are processed on the next business day (i.e. Usually Monday unless it's a holiday too).

[gerbil]

All Saturday Cheques are processed on the next business day (i.e. Usually Monday unless it's a holiday too).

seems that either way, the cheques will be process by tuesday ... i highly doubt that it will be there by tuesday .. maybe it might be done by friday. if you do decide to go to the teller, ask if you can call them to confirm if the cheques went thru with no problem.

[oeketer]

if you're asking about when the funds will be available to you after the deposit it, it depends on what your cash back limit is with your account. If it is at 0, depositing through the machine, regardless if its during banking hours or not will be subject to a 5 business day hold.

if you have cashback and lets say its $500...then you can deposit up to 500 through the machine and have up to 500 available right away. if they deposit is more than $500...then the remaining amount will go on hold.

If you have a relationship with your branch, and atleast one or two credit products with them, you should have atleast $200 cashback...

if you just want to know when the check will be processed, its the next business day and it take anywhere from 3-5 business days for the cheque to clear through the issuing parties account.