Online bill payments

Bill payments are one of the most popular funding methods, and our recommended method for sending Canadian dollar cash to your Questrade accounts.

Bill payments are also completely free, and a simple way to send funds to Questrade.

These payments can be set up in under 5 minutes with every financial institution in Canada, and many banks will also allow you to ‘automate’ your bill payments if you’d like to set up regular, recurring deposits.

Bill payments however, are only available for Canadian dollars. For U.S. Dollar deposits, please choose from one of our other funding methods. We recommend using a Pre-authorized deposit (PAD).

Please see below for processing times, instructions and additional details:

Most bill payments are processed by your bank or credit union and typically arrive at Questrade within 1-2 business days.

In some rare cases for smaller credit unions, or during bank holidays, this can take up to 4 business days.

For a brand-new Questrade account, please add 1-2 business days for us to ‘activate’ your account and set up your access for trading.

Canada’s anti-money laundering legislation prevents Questrade from accepting deposits where the name on a bank account does not match the name on your Questrade account exactly.

Please ensure your first and last name listed in your Questrade profile ‘match’ what is on file with your bank or credit union, before you make your first deposit. Otherwise this can lead to delays with accessing your funds.

You can learn more about third party deposits below.

Follow these easy steps to set up your bill payment:

1. Log into your online banking
   • The name of the primary account holder on your bank account must match the name on your Questrade account. Otherwise, your deposit will be held until further action. Learn more
2. Add Questrade as a new bill payee
   • You can find this under the “Bill payments” or “Pay a bill” section in your bank account.
   • Depending on your financial institution, Questrade can be listed as: “Questrade Inc”, “Questrade Online Brokerage”, or “Questrade”.
   • You can also add a ‘nickname’ for the payee at many institutions, this can be helpful if you have multiple Questrade accounts.
   • Please do not use the payee named “Questrade currency exchange”, that is for corporate FX accounts only.
3. Once you’ve added Questrade as the payee, add your Questrade account number. You can copy and paste your account number by going to the Deposit page under the Move money page on your platform (shown below).

4. Submit payment
   • Most funds will be deposited into your account in 1–2 business days.
     

Note: The information in this blog is for educational purposes only and should not be used or construed as financial or investment advice by any individual. Information obtained from third parties is believed to be reliable, but no representations or warranty, expressed or implied, is made by Questrade, Inc., its affiliates or any other person to its accuracy.