Personal Finance

possible to have cibc increase avail funds for hold cheque? thx

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  • Aug 10th, 2021 2:34 pm
Deal Addict
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Feb 23, 2004
3393 posts

possible to have cibc increase avail funds for hold cheque? thx

possible to have cibc increase avail funds for hold cheque? thx
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Deal Addict
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Sep 14, 2012
2372 posts
Montreal, QC
kocoman wrote: possible to have cibc increase avail funds for hold cheque? thx
If you're asking if it is possible for CIBC to not put a hold on a cheque deposit, the answer is yes but it will depend on the customer, customer's credit score, and customer's relationship with CIBC (bank). They might do it for you or they might not whereas for a different customer, they might do it for that customer but not do it for you. You can't use that other customer as an example to "force" them to do it to you.

They are the same as any Big 5 bank. With TD Canada Trust and RBC, I can deposit cheques and for the amounts that I've deposited, the funds are available immediately for me to do a bill payment or for me to invest or withdraw. I know some people who when depositing even a lesser amount than myself will get a hold on their account.

With an online only bank, I think some online only institutions will always put a hold on the funds regardless of the amount.
Deal Addict
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May 31, 2003
3214 posts
Toronto, ON
Yes, you can call them and ask them to review your access to funds limit and they will run a credit check to potentially increase the amount that's released right away.
"The crows seemed to be calling his name, thought Caw." - Jack Handey
Jan 24, 2013
484 posts
Rainy River
The other thing you could do is deposit to a line of credit then transfer immediately to chequing. This will cut into your available credit line limit on th LOC but if you are someone that doesn't use it anyway (it is just their in case of emergency it works well. I do this every now and then as I've got 20K LOC with Simplii and 15K LOC with CIBC. They both have a zero balance. If I get a cheque for 10K or something deposit to the 15K LOC then transfer to chequing. Your LOC available will be reduced to 5K for a week, but who cares you have access to the full 10K in your chequing account.
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Oct 16, 2008
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Why not ask CIBC instead of random internet strangers? Thx
Deal Expert
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Jan 27, 2004
49967 posts
Its more likely if you have enough investments to cover the size of the cheques youre depositing x2.

So if you want to deposit $5k cheque with no hold. Keep $10k investment with them.

Its really a matter of fact of “if i bounce this cheque… is there anything the bank can have to make up for it?”