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+1Originally Posted by the ivory actuary
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May 27th, 2009 12:10 AM #1
Online Banking
I am with CIBC and when I do online banking I have 3 accounts linked to my card (chequings, savings and cibc visa). There is an option to do transfers, basically I can transfer for example $10 from my chequings account into my savings account. Does this cost money to do?...also, can I transfer funds from my visa account into my chequings account? (for example, I have a credit limit of $500 for my visa and $500 available. Theoretically can I transfer $500 from visa into my chequings?)
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May 27th, 2009 11:42 AM #2 Reply With Quote
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May 27th, 2009 05:52 PM #3Agreed. +1 Originally Posted by The Ivory Actuary
Anyway, transfers between BANK ACCOUNTS are free with the following exception:
If your savings account is a Bonus Savings Account, you only get one free withdrawal per month. Any subsequent withdrawals in a month incur a fee of $5. THIS INCLUDES TRANSFERS BETWEEN ACCOUNTS.
If you transfer money from your CIBC VISA to one of your BANK ACCOUNTS, it is treated as cash advance, and any cash advance fees apply. And no, I don't know what those cash advance fees may be, but feel free to ask on RFD and not do your own research.
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May 27th, 2009 07:28 PM #4No it doesn't cost anything if you exchange funds between accounts as long as you stay within your transaction limit. Originally Posted by enter
For visa, yes, it is consider cash advance and you have to pay interest. Hope this helps._______________If you love something, set it free. If it comes back, it was, and always will be yours. If it never returns, it was never yours to begin with
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May 27th, 2009 10:18 PM #5
thanks for the replies everyone! btw It was around 11pm last night when I posted this question :p
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May 27th, 2009 11:32 PM #6 Originally Posted by enter
true but telephone CSRs are available 24/7 Reply With Quote
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May 28th, 2009 01:34 AM #7oh serious?? Wasnt aware of that, but thats good to know for future reference. Originally Posted by Milfman
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