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Understanding Check Clearing Timeframes at CIBC

When you deposit a check, it's natural to wonder how long it'd take for the money to be available in your account. In this article, we'll unravel the mystery surrounding how much time it takes to clear a check at the Canadian Imperial Bank of Commerce (CIBC). We'll explore your options via online banking, the mobile app, and calling customer service.

Online Banking

Nowadays, online banking is often the first choice when performing bank transactions. At CIBC, you can move money online with ease, and this involves check deposits too. However, the processing time of the check depends on multiple factors.

Typically, for a check deposited before 6 pm EST on a business day, the funds are often available the next business day. If the check is deposited after 6 pm EST or on a non-business day, the funds are generally accessible within two business days. Remember that weekends and official holidays are not counted as business days.

It's also vital to note that certain exceptions may extend the check clearing process. For instance, larger amounts may take longer due to a verification process.

Mobile App

Mobile banking provides another convenient way to deposit your checks. CIBC's mobile app, available on Android and iOS, allows you to deposit your checks at the touch of a button. All you need is a good internet connection and a mobile device, and you can make your deposit anywhere and at any time.

The time it takes to clear a check through the mobile app is similar to online banking. For checks deposited before 6 pm EST during a business day, the funds are usually available on the following business day. However, if deposited after 6 pm EST or on a non-business day, the clearing process may take an extra business day.

Please remember that clear checks over a certain amount may come under review for fraud prevention. This step could further delay the process by a few days.

Customer Service

There may be instances where you'd prefer human interaction or need clarification on specific banking matters. For situations like these, CIBC's customer service is available to assist you.

When you call customer service regarding check deposit duration, the agent will likely tell you the same information as provided through the online and mobile app procedures. They may also inform you about the potential variables that may impact the processing timing, such as the check amount, the issuing bank, and the depositor's account standing.

Despite the advanced digital banking solutions, banking specifics like check clearing times can still be a complex process. The best way to get a precise answer is to contact CIBC's customer service directly. Be sure to have all the relevant check information on hand for a more accurate estimate.

In conclusion, the time to clear a check at CIBC is generally one to two business days depending on when and how you make the deposit. It's always a good idea to keep these factors in mind when planning your transactions. Above all, reach out to CIBC customer service for any additional queries or peculiar concerns – they're there to help!