Personal Finance

Transfer bank account balance to another bank - best method?

  • Last Updated:
  • Dec 2nd, 2022 3:57 pm
[OP]
Deal Addict
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Feb 3, 2005
4890 posts
955 upvotes
Georgetown

Transfer bank account balance to another bank - best method?

Edit - complete brainfart! Of course Interac works to transfer the funds...

Still have a problem with the daily limit being $3000... I guess it will take 3 days for me to drain the account. Would love to get it all out at once to avoid any issues with a monthly fee being charged due to a day or two under the 5K free banking limit... probably not an issue if I close the account fast enough, but who knows.

Any suggestions for other way to transfer the balance are welcome... I don't have a physical cheque, otherwise I could write a cheque to myself and deposit it easily... is there a way to generate a cheque with the bank transit and account numbers, etc. to enable this method?

I knew I should have ordered the free cheques when I opened the account... heh
Last edited by Tiberius on Dec 2nd, 2022 4:03 pm, edited 3 times in total.
3 replies
Deal Fanatic
Nov 22, 2015
6806 posts
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What's wrong with eTransferring to yourself?
Deal Addict
May 16, 2017
2440 posts
3210 upvotes
Of course you can send an Interac e-Transfer to yourself. Just make sure the email you use isn't set to autodeposit for the old account.

As long as the amount is within the Interac e-transfer limits set by your SENDING Bank, or you may have to break up into multiple transfers over a few days. Make sure your sending account doesn't have any e-transfer fees if you're taking the balance down to zero.
[OP]
Deal Addict
User avatar
Feb 3, 2005
4890 posts
955 upvotes
Georgetown
Yeah... complete brain fart on my part on how the e-transfer works! LOL

Thanks!

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