Cheque Bank

From: Financial Consumer Agency of Canada

Remember, the cheque could now debit your account as quickly as the next day. If there’s not enough money to pay your cheque at the start of day, we may try to pay it again at 13.30. If there’s still not enough money, it may be returned unpaid. This will apply to all UK sterling bank cheques. The branch transit number, financial institution number, and bank account number are located at the bottom edge of your cheque. Branch transit numbers are always 5 digits long and financial institution numbers are always 3 digits long. Bank account numbers may be up to 12 digits long. Below is an example of a cheque. The Reserve Bank of Australia governor says it’s in the “national interest” to ditch the cheque, but a financial services expert says it’s not a good idea. The number of personal cheques written in Australia has dropped by 85 per cent in the past decade.

Feb 11, 2021 In the Union Territory of Jammu and Kashmir, Lieutenant Governor, Manoj Sinha today handed over a cheque of Rs 250 crore to Jammu and Kashmir Bank as the second instalment of 5 per cent Interest.

Enrol in direct deposit

The Government of Canada is switching to direct deposit for all its payments. If you currently receive your federal payment(s) such as your income tax refund, GST/HST credits, Canada child benefit or Canada Pension Plan payments by cheque, enrol in direct deposit.

You have the right to cash your Government of Canada cheque at any bank for free, even if you’re not a customer.

You can cash your Government of Canada cheque at any branch of a bank in Canada that has tellers.

Identification you need to cash a Government of Canada cheque

To cash your cheque, you'll have to show one acceptable piece of identification (ID). The ID must have both your photo and your signature. For example, your ID could be a driver’s license or a passport.

If you don’t have any ID with both your photo and your signature on it, you’ll have to show two acceptable pieces of ID. You may also have someone in good standing with the bank or in the community confirm your identity.

When a bank won’t cash your Government of Canada cheque

Cashing your emergency benefits-related cheque

The Government of Canada has temporarily increased the cheque-cashing limit to $2,000 for emergency benefits-related cheques to individuals.

A bank can refuse to cash a Government of Canada cheque for you if:

• the bank suspects that it's counterfeit
• the cheque is for more than $1,500
• the cheque has been endorsed or signed by a third-party
• the cheque has been altered in some way
• the cheque is connected with a crime or fraud

If the bank won’t cash your cheque, it must give you a letter saying it won’t do so. It must also tell you how to contact the Financial Consumer Agency of Canada (FCAC) if you have a complaint.

Cashing an old Government of Canada cheque

You can cash a Government of Canada cheque no matter how old it is. Government of Canada cheques don’t have an expiry date and never become stale-dated. However, it may take longer to cash an older cheque because a financial institution may first want to verify that the cheque is legitimate.

If you’re having a problem cashing an old federal government cheque, send it to the Cheque Redemption and Control Directorate. Ask to have it reissued with a current date.

Cheque Redemption and Control Directorate
Returned Cheques
P.O. Box 2000
Matane, QC
G4W 4N5

Cashing your Government of Canada cheque at a payday lender or cheque-cashing outlet

Payday loan companies and other cheque-cashing outlets charge a fee to cash a Government of Canada cheque. The fee is usually a percentage of the amount you're depositing plus a flat fee.

Example: How much it costs to cash a Government of Canada cheque at a payday loan company

Suppose you have a Government of Canada cheque worth $1,000.

Cheque Bank Code

It would cost you about $33 to cash it if the payday loan company charges you:

• 2.99% of the value of the cheque, plus
• $2.99 for each item you cash

This means that after fees, you'd only get about $967 instead of the full $1,000.

Before using a payday loan company or other cheque-cashing service to cash your Government of Canada cheque, make sure you understand all of the fees that you’ll have to pay.

Related links

• Depositing a cheque with your mobile device
  

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