Personal Finance

Re-occurring transfers between banks

  • Last Updated:
  • Apr 5th, 2020 2:16 pm
[OP]
Member
Oct 12, 2005
444 posts
384 upvotes
Lower Mainland BC

Re-occurring transfers between banks

I’m wondering if it’s possible to set up a re-occurring transfer between banks, without going through an online bank such as Simplii or Tangerine?

I recently switched my mortgage to HSBC and I’m paying it from a HSBC account but my common law partner uses Scotiabank. Is there a way to set up a re-occurring transfer from Scotiabank to HSBC? We tried contacting Scotiabank to ask but it’s nearly impossible to get through right now.

Right now I have it set up so the money goes Scotia > Simplii > HSBC but would be better if it were direct.

Thanks.
2 replies
Deal Addict
User avatar
Nov 18, 2007
3506 posts
602 upvotes
Valleywood
Set up a small LOC at each institution, then use bill payment to move monies between each. (This assumes that HSBC LOC is payable online.)
Deal Guru
User avatar
May 8, 2009
14229 posts
11980 upvotes
Not Leask
afaik only alternative would be paper cheques. if you're doing these transfers on the regular, Simplii is good for deposit limits, but tedious to manage external transfers as they can't be cancelled afaik.
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