Is there a time limit for a financial institution to withdraw funds from my account due to a cheques return?
The CPA Rules do not deal with the recovery of funds from a customer, as this is a matter that is generally governed by the account agreement between the financial institution and the customer. Although most cheque returns through the clearing system occur within 10 business days, some returns may happen much later. For example, there is no time limitation for the return of a cheque bearing a forged endorsement. Once the returned cheque has been received, the financial institutions will generally debit the account to which it was deposited as soon as possible.
