Personal Finance

Setting up automatic payments to a bank account

  • Last Updated:
  • Apr 8th, 2018 5:59 pm
[OP]
Sr. Member
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Apr 4, 2017
749 posts
482 upvotes

Setting up automatic payments to a bank account

I purchased a phone plan through my sister's workplace. The payment for the plan has to be done by her. I want to set up an automatic payment from my bank account to hers. How do I do this? And is there any type of fee? I searched online and see multiple options (like pre-authorized transfer, pre-authorized payment) and I'm not sure which one is the right one.
3 replies
Newbie
Mar 29, 2018
4 posts
1 upvote
Depending on what bank you're with the options are probably different. Although, I'm pretty sure you can just set up an interact e-transfer that happens every month, fees will also depend on your institution and account type.
Deal Fanatic
Nov 24, 2013
6147 posts
2904 upvotes
Kingston, ON
If you both bank with the same institution, you may be able to add her as a personal payee and set up a recurring payment. I’ve done this in the past with my wife’s parents (TD->TD).
Deal Addict
Jan 2, 2015
1536 posts
533 upvotes
Toronto, ON
IHavocI wrote: I purchased a phone plan through my sister's workplace. The payment for the plan has to be done by her. I want to set up an automatic payment from my bank account to hers. How do I do this? And is there any type of fee? I searched online and see multiple options (like pre-authorized transfer, pre-authorized payment) and I'm not sure which one is the right one.
Some banks allow automatic e-transfers and automatic acceptance of these e-transfers. I don't know if your bank has free e-transfers though.

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