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December 10, 2020
11:30 pm
yesmath
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October 10, 2017
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I transferred in money to CT's HISA, but how do I know when the hold on the money is released? I really don't want to sign in or phone every day especially since CTB says "We may, in our discretion, also increase the hold period beyond 10 business days if we need more time to make sure that your cheque or electronic funds transfer will be honoured.

December 11, 2020
11:10 pm
Loonie
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October 21, 2013
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I don't believe they will change the Hold period unless there is something suspicious about the transaction.
A while back, Norman1 posted some information about the clearing process which showed there are circumstances which can delay clearing for quite a while, I think it was up to six months. But if your circumstances are average, you won't likely encounter anything like that. You might want to look and see if you can find that thread.
If you want to be sure it has cleared, you do need to look for some evidence. With some FIs, that will mean a phone call, like it or not.

December 12, 2020
10:31 am
Norman1
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I think one of those posts was Holds on transfers.

For paper cheques, it can be years before the cheque can no longer be bounced for some reasons.

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