Personal Finance

How to get funds into Peoples Trust in least amount of time

  • Last Updated:
  • Aug 7th, 2019 11:03 am
[OP]
Deal Fanatic
Oct 7, 2007
8538 posts
4448 upvotes

How to get funds into Peoples Trust in least amount of time

Does anyone know if there is a way to get the funds into Peoples Trust the same day for purposes of being able to make a GIC purchase? I looked through Peoples website and it doesn't look like funds can be transferred using Interac so I wasn't sure if we can do e-deposits or if there is some other way. Thanks in advance!
2 replies
Deal Addict
Aug 1, 2006
1922 posts
1445 upvotes
Toronto
You can link up an external bank to Peoples Trust only if you mail in a filled in external link authorization form along with a blank cheque ( pull method ). You can etransfer from an external bank (push method) or mail in a cheque. As far as I can tell their mobile app doesn't allow mobile cheque deposit.

Push method by etransfer works faster , but pull method by linked account lets you earn interest at both FIs during the overlap period.
[OP]
Deal Fanatic
Oct 7, 2007
8538 posts
4448 upvotes
It turns out that Peoples doesn't have e-deposit so after contacting them today it sounds like my best option is to pull the funds to the PT account which will cost me one day of interest. I was hoping for same day but I guess that is the best I can do.

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