Understanding the RBC Cheque Holding Policy: An Exhaustive Guide

One of today's most frequent queries in the Canadian banking landscape is, "how long does RBC hold cheques?" Whether you're new to banking with RBC or just need a refresher, this guide will take you through the intricacies of the RBC cheque clearing process and how long you can expect for your cheque to clear.

We'll explore three convenient ways to go through the process—online banking, using the mobile app, and calling customer service. Without much ado, let's dive right in.

RBC Online Banking: Cheque Deposits

RBC online banking is one of the most accessible ways to deposit and clear cheques. It fairly streamlines the process, making it as straightforward as possible. To deposit a cheque, you'll need to sign into your RBC Online banking account and follow through the step-by-step instructions provided.

But how long does it take for a cheque to clear? Commonly, RBC holds cheques for four to six business days for cheques deposited using the mobile app and the online banking platform. The period ensures that funds are available from the cheque issuer's account. The length of this hold can vary depending on the type of cheque being deposited and the transaction history.

Using the RBC Mobile App for Cheque Deposits

If you're always on the go, utilizing the RBC Mobile app for cheque deposits can be incredibly convenient. The mobile banking app integrates all the features you need to effectively manage your account at your comfort and convenience. Among these features is mobile cheque deposits.

Mobile cheque deposit involves capturing an image of the front and back of the cheque using your smartphone's camera. However, as for the hold period, RBC typically applies the same standards as with online banking—between four to six business days for the cheque to clear. This hold gives the bank ample time to verify that funds are available.

Calling RBC Customer Service for Cheque Clearing Information

There are situations where you may prefer human interaction or have complex issues that would best be resolved by talking directly to a customer service representative. That's where RBC customer service steps in.

If you're unsure about the cheque hold period or need more personalized guidance on the cheque-clearing process, you can always ring up RBC's customer service. They offer comprehensive service and can provide personalized information based on your account status and the type of cheque in question.

Precisely, call center agents can provide the most accurate answer to “how long does RBC hold cheques”? They also can make temporary adjustments to your account to decrease the wait time in certain situations.

Wrapping Up

Understanding how long RBC holds cheques will help to align your expectations and manage your finances better. While the hold times can vary, the standard is usually between four and six business days. Whether you prefer online banking, the mobile app, or calling customer service, RBC offers multiple options for you to manage your cheque deposits conveniently.

Remember, if you're unsure or have questions about your unique situation, don't hesitate to reach out to RBC customer service for the most personalized and detailed guidance.