When you deposit a cheque into your account at the branch, TD ATM or through the TD app, the cheque is sent to the cheque writer's bank to release the money. A hold on funds may be placed on your deposit to allow time for the cheque to pass through the payment system and transfer funds into your account. A "hold" means that your account has been credited with the value of the cheque but that you do not have the ability to access the funds.  

If the cheque writer doesn't have sufficient funds in their account, or if the cheque is fraudulent, the item can be returned unpaid to TD. A hold period allows sufficient time for TD to verify that the promise to pay can be carried out, i.e. that funds will be available. 

Cheque cashing is essentially a credit decision, as such our hold policy is applied differently for each customer. To find out how much of your cheque will not be subject to a hold you can view your Instantly Available Funds limits on the TD app. 

After you log in:

1. Select the account for which you wish to view instant available funds from a cheque deposit.
2. Select the Details tab.
3. Select Transaction Limits from the list of options.
4. Towards the bottom you will see Instantly Available Funds From Cheque Deposit Limit (Weekly).

This is the amount which may be available to you on a weekly basis instantly once a cheque has been deposited into your account.

Note: Cheques deposited on a business day up until 8:59 p.m. (ET) will be posted to your account the same day. Cheques deposited after 8:59 p.m. (ET) or on weekends or statutory or bank holidays will be posted to your account the next business day. 

To view more information about cheque holds, please refer to our "Hold Funds policy (PDF)".