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Topic: Maximum amount banks in Canada can let you receive?  (Read 6857 times)
FogDevil
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« on: June 03, 2014, 09:18:44 am »

I am wondering if any of the big five branches (CIBC, Scotiabank, TD Canada Trust, RBC and BMO) have limits on how much money you can receive from over the counter transactions (cheque-cashing or withdrawals)?
la cenne
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« Reply #1 on: June 03, 2014, 09:36:08 am »

I know that TD has a limit of $4,000 at their small branches if you show up unexpectedly assuming you have an account with the bank. If you call ahead ,you could raise that amount but do not know the limit.(probably the sum of your holdings in your account)
For a third party check not issued by government,there is a delay of 2 to 5 days to validate so I doubt that you could just cash it
If you have $100,000 in your account and want to cash it all,I strong;ly suggest you let them know before you walk in the bank.You would more than likely find some interesting notes in the bundles.lol :-D :-D :-D

Passion ia a positive obsession. Obsession is a negative passion. (Paul Carvel)
Shylo
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« Reply #2 on: June 03, 2014, 12:01:26 pm »

I know for any deposits anything over 10K has to be reported...

So I'm guessing that anything over 10K for a withdrawal at some point will require paperwork as well...

A bank must keep enough money on hand to handle their day to day transactions... my guess is that as a professional courtesy anything over 5K would warrent some sort of notice ahead of time..

 

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