Cheque Hold Periods Sample Clauses

Cheque Hold Periods. When you deposit a cheque (or any other negotiable instrument) through any method (i.e., at a branch, through an Automated Bank Machine ("ABM"), or via online mobile deposit capture), the funds from the cheque may not be immediately available. ▇▇▇▇ Credit Union ("DUCA") may place a hold on your cheque to facilitate clearing of the item. If we hold your cheque, we will generally apply the Cheque Hold periods ranging from 7 to 35 calendar days. a) Reasons for Extended Holds: DUCA may apply holds outside the standard Cheque Hold periods for reasons including but not limited to: i) Your Membership account has been open for less than 12 months. ii) The cheque was deposited more than six months after the date of the cheque. iii) The cheque is not in Canadian dollars. iv) The cheque is issued by an institution outside of Canada. v) DUCA has reasonable grounds to believe that the deposit is being made for illegal or fraudulent reasons. Business Member Agreement Terms and Conditions