Can Canadians Cash American Cheques?

Yes, most Canadians can cash an American (U.S.) cheque, but in many cases it is really a deposit into your bank account, not “cash in hand” right away.

U.S. cheques often come with longer holds (sometimes weeks), plus possible fees and exchange costs.

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“Cash” vs “Deposit” (This Matters)

When people say “cash a cheque,” they often mean getting money instantly.

With U.S. cheques, many Canadian banks will:

• Accept it for deposit, then

• Hold the funds until the cheque clears in the U.S.

So you might not be able to spend the money right away.

How Canadians Usually Cash a U.S. Cheque

1) Deposit it at your Canadian bank

This is the most common option. Bring:

• Government photo ID

• The cheque (properly endorsed on the back)

• Your bank account details

Some banks may require a teller deposit for certain foreign cheques.

2) Deposit into a U.S. dollar account (if you have one)

This can help you avoid converting to Canadian dollars right away, depending on your bank and what you want to do with the money.

3) Deposit into a Canadian dollar account (conversion happens)

Your bank may convert the amount into CAD, usually using their exchange rate.

How Long Does It Take for a U.S. Cheque to Clear in Canada?

It can take much longer than a normal Canadian cheque deposit.

Examples of hold timelines Canadian banks publish:

• Scotiabank shows holds of up to 20 business days for cheques drawn on a U.S. financial institution.

• RBC’s hold policy shows 15 business days for U.S. cheques deposited at a Canadian branch (and longer for some ATM deposits).

• CIBC notes that non-Canadian-dollar cheques drawn on a financial institution outside Canada may have an estimated hold of at least 30 business days, and it could be longer.

So a realistic expectation is 2 to 6 weeks before you can fully use the money.

Fees and Costs to Watch For

Even if your bank accepts the cheque, you may run into:

• A foreign cheque handling fee

• Exchange rate costs if it is converted to Canadian dollars

• A longer hold if the cheque is considered higher risk

Ask your bank what the fee and hold time will be before you deposit it.

Tips to Make It Go Smoothly

• Deposit at a branch teller if the cheque is rejected at an ATM or app.

• Make sure the cheque is written clearly and matches your name.

• Keep a buffer so you are not relying on the money immediately.