BANKING UPDATE

The Mohawk Council of Akwesasne is providing an update on banking in response to complaints received about cheque cashing.

A new policy was put into place in Canada earlier this year that limits the amount of cash immediately available when depositing cheques. The amount a person can withdraw from a cheque deposited is associated with the individual's debit card limit. This means that some people cashing the Family Sustainability cheques may only be able to immediately withdraw $300, or $500 and so on, and not usually above $1000. The hold on the remaining amount is for four (4) days. Those depositing cheques today, December 15, 2025, should receive a full release by Friday, December 19, 2025. 

Customers can choose to cash their cheques at a non-bank facility to avoid this policy that is in place for all banks in Canada.