Issue: Questrade deposit using Interac Online
So I tried to transfer funds immediately to my Questrade account using Interac Online very early today.
I successfully completed the transaction using my online banking. But the funds did not show up on the Questrade trading platform. Checked a few minutes later, still no funds.
Check the account history at Questrade, the contribution is not showing up.
Go to bank, and I do not see the transfer out to Questrade either in my account transactions either!
Now it gets a bit more strange - assume the bank balance before transfer was $500, and transfer was for $100
1. On my bank's site, I see my "available balance" as $400. This makes sense as I had authorized the transaction, but I do not see the actual transaction in my bank account.
2. Wait a few hours and call my bank. Their back-office team says "funds are on hold" for the original Interac Online transaction ($100). They advise to call Questrade.
3. Get Questrade on chat an hour later, and they confirm "no record of deposit via Interac Online today". They advised "Interac Online transaction can bounce back to my bank anywhere within 2 to 24 hours". In short, they can't do anything as $100 is not with them.
Anyone else experience this ever? I've done Interac Online many times this year, and nothing like this has happened before.
I have a feeling this is going to be a long exercise going back and forth between my bank and Questrade. Yet I feel that Interac is the one that has not completed the transaction in the middle.