Personal Finance

Funding a Questrade account through Interact e-transfer/Simplii

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  • Sep 12th, 2021 2:17 pm
[OP]
Deal Addict
Feb 3, 2006
1241 posts
73 upvotes

Funding a Questrade account through Interact e-transfer/Simplii

Like the title says, is it possible to fund a Questrade account through Interact e-transfer?

In the past I funded my accounts using the bill payment function from Simplii.

I attempted to do a Interac e-transfer for a small amount but I couldn't find Questrade in the list of banks and such.

Tried calling Questrade but they are closed.

Can anyone help
12 replies
Deal Addict
Feb 21, 2004
1558 posts
356 upvotes
Montreal
What’s wrong with bill payment? Something that use to take 3days now takes one with tangerine to Questrade for me
Deal Fanatic
May 31, 2007
5018 posts
2171 upvotes
fogo wrote: Like the title says, is it possible to fund a Questrade account through Interact e-transfer?

In the past I funded my accounts using the bill payment function from Simplii.

I attempted to do a Interac e-transfer for a small amount but I couldn't find Questrade in the list of banks and such.

Tried calling Questrade but they are closed.

Can anyone help
You can fund using Interac Online, but must initiate from Questrade first. Takes you to interact portal, enter banking info and voila. Instant transfer of money, I believe 3000K daily limit with Simplii / Questrade. From Questrade:


INTERAC ONLINE

×
Interac Online lets you fund your Questrade account directly from your financial institution. Log in to Questrade, hover over FUNDING, and click or tap Interac Online. Choose the account that you would like to fund and the funding amount. Once you select continue, you will be redirected to the Interac Online gateway page, prompting you to select your financial institution. Log in to online banking and select the account you want to pay from. You will be prompted to confirm the payment amount.

Things to know:

Funds will be available for trading immediately
For new accounts that are not yet funded: funds will be available for trading after one business day
Deposit amount cannot exceed your Interac Online limit
All deposits will be made in Canadian dollars (CAD).
Questrade does not charge fees for this transaction but banking fees may apply
Interac Online won’t work if your card has a Visa Debit or Debit MasterCard logo

http://www.questrade.com/account/fund
Deal Fanatic
User avatar
Nov 19, 2004
9124 posts
2027 upvotes
Cambridge, ON
Bill payment has always been good enough for me, but may be good to know as well if the interac transfer works. Even if I make the bill payment in the evening, it is always available the next morning at Questrade for use.
[OP]
Deal Addict
Feb 3, 2006
1241 posts
73 upvotes
Jungle wrote: You can fund using Interac Online, but must initiate from Questrade first. Takes you to interact portal, enter banking info and voila. Instant transfer of money, I believe 3000K daily limit with Simplii / Questrade. From Questrade:


INTERAC ONLINE

×
Interac Online lets you fund your Questrade account directly from your financial institution. Log in to Questrade, hover over FUNDING, and click or tap Interac Online. Choose the account that you would like to fund and the funding amount. Once you select continue, you will be redirected to the Interac Online gateway page, prompting you to select your financial institution. Log in to online banking and select the account you want to pay from. You will be prompted to confirm the payment amount.

Things to know:

Funds will be available for trading immediately
For new accounts that are not yet funded: funds will be available for trading after one business day
Deposit amount cannot exceed your Interac Online limit
All deposits will be made in Canadian dollars (CAD).
Questrade does not charge fees for this transaction but banking fees may apply
Interac Online won’t work if your card has a Visa Debit or Debit MasterCard logo

http://www.questrade.com/account/fund
Thanks for responding, however when I follow the directions Simplii isn't listed as a financial institution.
Only RBC BMO Scotia and TD are listed???

Can you help
Deal Fanatic
May 31, 2007
5018 posts
2171 upvotes
fogo wrote: Thanks for responding, however when I follow the directions Simplii isn't listed as a financial institution.
Only RBC BMO Scotia and TD are listed???

Can you help
Yeah your right..I just checked. Simpli and CIBC is not listed.. I guess they don't have it yet.

Try bill payment ..its pretty fast (if its not your first time), usually accepted within 2 business days from sending.
[OP]
Deal Addict
Feb 3, 2006
1241 posts
73 upvotes
Jungle wrote: Yeah your right..I just checked. Simpli and CIBC is not listed.. I guess they don't have it yet.

Try bill payment ..its pretty fast (if its not your first time), usually accepted within 2 business days from sending.

Thanks for your time and help
Deal Fanatic
User avatar
Nov 19, 2004
9124 posts
2027 upvotes
Cambridge, ON
Jungle wrote: Yeah your right..I just checked. Simpli and CIBC is not listed.. I guess they don't have it yet.

Try bill payment ..its pretty fast (if its not your first time), usually accepted within 2 business days from sending.
I've made a number of bill payments out of Simplii and the money has always been available the next morning at Questrade. Even bill payments I have made in the evening are there the next morning. It may not show up in your transactions or account total right away, but your buying power always reflects the amount so you can begin trading. Can't say this would always be the case, but that has been my experience.
Deal Addict
User avatar
Aug 7, 2010
1082 posts
443 upvotes
don242 wrote: I've made a number of bill payments out of Simplii and the money has always been available the next morning at Questrade. Even bill payments I have made in the evening are there the next morning. It may not show up in your transactions or account total right away, but your buying power always reflects the amount so you can begin trading. Can't say this would always be the case, but that has been my experience.
I can confirm that lately, bill payments from Tangerine to Questrade show up the next day provided it's in CAD dollars. I wish this were possible when it comes to funding US$ accounts (from a US$ bank account of course).
Newbie
Mar 13, 2020
1 posts
Do you have any experience doing this on the weekend? I'm RBC and everything appeared to be working, even the funds have been taken out of my bank, but they are not in my Questrade account. Thoughts?

Jamie
Member
User avatar
Mar 30, 2007
345 posts
78 upvotes
JamieY7119 wrote: Do you have any experience doing this on the weekend? I'm RBC and everything appeared to be working, even the funds have been taken out of my bank, but they are not in my Questrade account. Thoughts?

Jamie
Sorry to resurrect an old thread. But I wanted to point out that RBC blocks online interac transactions to questrade. If you are trying to fund your questrade account through interac using an RBC account, it won't show up in your questrade account, but the funds will appear to be gone from your RBC account.

You have to manually go in to your interac payment history in RBC online banking or app, and cancel the interac transaction to have the funds returned.

Totally ridiculous anti-competitive policy on RBC's part which should be illegal.
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Newbie
Jul 4, 2020
60 posts
39 upvotes
I faced same issue with TD Bank also. Money is deducted from TD Bank but don't show up in Questrade, need to call TD Bank to cancel the transaction.
Member
Jul 12, 2019
200 posts
778 upvotes
If Interac Online isn't working, looks like you can also fund your account instantly using Visa Debit.

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