FAQ – Accounts and services – Accounts

Although your account balance will increase immediately after you deposit a cheque, it usually takes between 5 and 15 business days for it to clear, depending on the financial institution that issued it. However, it can take up to 6 years when a fraudulent cheque is deposited. As a preventative measure, when you deposit a cheque, Desjardins, like every other financial institution, puts a hold on funds for the amount of time it usually takes to process it to make sure it clears.

If you have good credit, to accommodate you, your caisse can give you an authorized transit when you open your account. An authorized transit is the maximum amount you can withdraw right after depositing a cheque. Keep in mind that you are responsible for all deposits made to your account. Therefore, if you deposit a fraudulent cheque to your account, you will have to repay the amount you used.

Learn more about funds on hold and authorized transits.

When you write a cheque or agree to make pre-authorized payments to an organization, you must ensure you have enough money in your account to honour your commitment. If you don't, NSF (non-sufficient funds) fees will be charged to your account.

You can avoid NSF fees by signing up for overdraft protection, which links your account to your Desjardins credit card.

To learn more, see Overdraft protection.

At Desjardins, a hold is placed for 5 to 7 business days if you deposit a cheque at the counter or ATM, or if you make an inter-institution transfer on AccèsD.

This applies to any type of cheque, personal or otherwise, as well as to cash deposited at an ATM.

Find out more about funds on hold.

You can open an account in a Desjardins caisse prior to your arrival in Canada.

Simply fill out the form online to apply for your account.

A Desjardins advisor will contact you within 48 hours (business days) of receiving your application.

When you arrive in Canada, you'll need to go to the caisse specified by the advisor to finalize the account opening.

Our transaction plans reduce the service fees on your Everyday Transaction Account. To find the best plan for you, compare our plans.

Choose a plan based on your banking habits and usual minimum monthly balance. You can use the Select a plan feature on AccèsD Internet and mobile to change your current plan on your own.

In addition to your monthly fee, you may also be charged additional fees if you exceed the maximum number of transactions or make transactions not included in your plan (e.g., withdrawals from ATMs of other financial institutions).

Only available on AccèsD Internet and mobile, the Savings Account is for people who want to grow their savings quickly by earning interest on each dollar saved. There are no fees and you can access your funds easily. The account is also RRSP eligible.

To learn more, see Savings Account.

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