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Why does BMO have a hold on my funds, and can it removed?

When you deposit a cheque (also includes bank drafts, certified cheques, money orders and other instruments ), a hold period may apply to allow time for the cheque to clear. The funds will appear in your account at the time of deposit. Until the hold period expires, you will not be able to access the funds. Sometimes, even after the hold period expires, a cheque could be returned to us unpaid. If a cheque is returned unpaid for any reason at any time, either during or after the expiry of the hold period, we have the right to charge the amount of the cheque to your account.

For more details about the hold duration, sign in to your account and click View your daily debit card limits under “Bank Accounts” in “My Account Summary”.

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