Our Hold Funds Policy

Our Hold Funds Policy

Personal Accounts

We may hold some or all of your deposits

When you deposit a cheque or other type of payment to your personal account, either at a branch or through the ATM, we may hold some or all of the amount. This means you may not be able to access the funds you deposited right away. You cannot withdraw the funds we hold, and we will not use those funds to pay cheques or pre-authorized debits until the hold period ends.

The amount we hold for each customer is different

We decide how much to hold based on each customer. We consider factors such as how long you have been an HSBC customer, your credit rating, and the amount of funds you have in your HSBC accounts. We also decide based on the type of cheque and where it is coming from.

Releasing your funds

We release the holds on funds you deposit as soon as we reasonably can. We release your funds according to the hold periods in the table below, as long as what you deposit to your account meets these requirements:

  • The cheque is in Canadian dollars and drawn on a financial institution's branch in Canada.
  • Our operational systems can read the cheque, meaning it is paper-based and encoded with magnetic ink, is not damaged or mutilated.
  • You deposit to an account where there is no evidence of illegal or fraudulent activity on the account, or other signs of a suspicious transaction, including those we must report under the law.
  • You deposit to an account open for more than 90 days.
  • The cheque is payable to the account owner and has not been endorsed more than once.
  • The cheque is deposited within six months of the issue date.

The hold periods in this table apply to deposits to your personal accounts.

Deposit Method Deposit Amount Hold Period First $100 Available
In person with an HSBC employee at a branch $1500 or less 4 business days Immediately
More than $1500 7 business days Immediately
ATM or other method All amounts 5 business days Next business day

The hold period shown in the table above does not include the day you deposit the cheque.

Please note the following concerning our Personal Account hold funds policy:

  • ATM deposits are treated the same whether they are cash, cheques or other types of payment. All deposits at an ATM follow our hold funds policy.
  • Business days do not include Saturday, Sunday or statutory holidays.
  • We hold funds for a deposit longer than the hold periods in the table above if we need to investigate a cheque, or for situations beyond our control such as a system outage or natural catastrophe.
  • We hold cheques that do not meet the requirements above for 30 business days. We hold all cheques from a financial institution outside of Canada for 30 business days. This hold period is an estimate that applies if we credit the funds to your account. We may hold your funds longer if we don’t receive payment within 30 business days.

Commercial Accounts

We may hold some or all of your deposits

When you deposit a cheque or other type of payment to your commercial account, either at a branch or through the ATM, we may hold some or all of the amount. This means you may not be able to access the funds you deposited right away. You cannot withdraw the funds we hold, and we will not use those funds to pay cheques or pre-authorized debits until the hold period ends.

Releasing your funds

We release the holds on funds you deposit as soon as we reasonably can. We release your funds according to the hold periods in the table below, as long as what you deposit to your account meets these requirements:

  • Paper-based; magnetically encoded Canadian dollar cheque or instruments that can be read by our operational systems (i.e. not damaged or mutilated); and are drawn on a financial institution's branch located in Canada.
  • Deposited to an account where there is no evidence for us to believe that there may be illegal or fraudulent activity in relation to the account, or other indicators of a suspicious transaction, including those that we are required by law to report;
  • Deposited to an account open for more than 90 days.
  • The cheque has not been endorsed more than once.
  • The cheque must be deposited within six months of the issue date.
  • The account does not has an escalating overdraft balance that is not being reduced by deposits received.
  • There is no negative change in the credit score or other behaviour scores that may impact the credit risk of the enterprise.
  • No unexplained change in the history of cheques or other instruments deposited to the account.
  • There is not a high number of cheques or other instruments deposited that are returned as dishonoured items from other institutions that may impact the available balance in the account.
  • No notice of bankruptcy or of creditor action against the enterprise.

The hold periods in this table apply to deposits to your commercial accounts.

Deposit Method Deposit Amount Hold Period
In person with an HSBC employee at a branch $1500 or less 4 business days
More than $1500 7 business days
ATM or other method All amounts 5 business days

The hold period shown in the table above does not include the day you deposit the cheque.

Please note the following concerning our Commercial Account hold funds policy:

  • ATM deposits are treated the same whether they are cash, cheques or other types of payment. All deposits at an ATM follow our hold funds policy.
  • Business days do not include Saturday, Sunday or statutory holidays.
  • We may hold your deposits longer than the hold periods indicated in the table above if we need to investigate a cheque, or for situations beyond our control such as a system outage or natural catastrophe.
  • We hold cheques that do not meet the requirements above for 30 business days.
  • We hold all cheques from a financial institution outside of Canada for 30 business days.
  • The hold periods in the table above are estimates that apply if we credit the funds to your account. We may hold your deposits longer if we don’t receive payment for them within 30 business days.

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