There is no need to mail or bring the cheque into the branch after you have made your deposit, however it might be useful to mark the cheque with the phrase “deposited via mobile” (without obscuring any material information on the cheque) to confirm you’ve already deposited it. You should keep the cheque in a safe place for a few weeks to ensure that it has cleared properly, after which it should be destroyed.
During the clearing process everything is double checked to ensure the right amount is deposited correctly and securely into your account. If you have any questions about the process, please call us during our business hours at (416) 532-8723 and we will be happy to help you.
Similar to deposits made at THE EXCHANGE® ATM network or in branch, standard holds on items apply as the funds require time to clear.
Yes, as a feature of Parama’s Mobile App, Deposit Anywhere™ meets the same high standards as our mobile and online banking services.
Deposit Anywhere™ is a feature on Parama’s Mobile App which allows you to deposit cheques from anywhere, at any time, simply by taking a photo of the cheque.
