Can I Cash a Cheque Online?

You usually can’t turn a cheque directly into physical cash fully online, but you can often deposit it online and then access the money from your account.

In Canada, many banks and credit unions let you:

• Open their mobile banking app

• Take photos of the front and back of the cheque

• Submit it as a mobile deposit

Once it’s accepted and the hold (if any) is over, you can use or withdraw the money like normal. So it’s less “online cashing” and more “online deposit.”

KOHO Essential

If you’re still getting paid by cheque, it might be time to ditch cheques altogether and move to direct deposits.

With KOHO Essential Plan, you get:

• It has a low monthly plan fee that can be waived when you set up direct deposit or add +$1,000.

• Use a prepaid Mastercard® for groceries, bills, subscriptions, and travel.

• Grow your savings with a 2% interest savings rate on your entire balance.

• Earn 1% cash back on groceries, eating & drinking, and transportation.

• You can add Credit Building for $10/month, it's an affordable way to build your credit history.

• Enjoy unlimited transactions and free e-transfers (never worry about fees when sending money to someone again).

How Online Cheque Deposit Usually Works

If you still need to deposit a cheque at another bank:

1. Sign the back of the cheque (endorse it).

2. Open your bank’s mobile app and choose “Deposit a cheque” or similar.

3. Enter the amount of the cheque.

4. Take clear photos of the front and back.

5. Submit and keep the physical cheque somewhere safe until your bank tells you it’s fully processed.

There may be:

• Deposit limits per day or per cheque

• Hold periods, especially for new accounts or larger amounts

Once the funds are released, you can move them where you want.