Personal Finance

Re-occurring transfers between banks

  • Last Updated:
  • Apr 5th, 2020 2:16 pm
[OP]
Sr. Member
Oct 12, 2005
648 posts
560 upvotes
Vancouver

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
3527 posts
632 upvotes
Corktown
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 Expert
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May 8, 2009
15419 posts
13859 upvotes
Going to the Moon
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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