Funding your account

Learn about the different ways you can fund your account.

You can add money to your Questrade account using any of these funding methods. Each method has its own processing time and accepted currency, so choose the method that works best for you.

Processing times start after we receive the funds from your financial institution.

New accounts may take an extra 1-2 business days to activate.

Funding method Processing time Currency
Instant deposit
(Visa and Interac Debit cards)

Learn more about Instant deposit
For Visa deposits, the money appears instantly in your Questrade account.

For Interac deposits, these may need additional validation by Interac which may delay the processing time.
CAD only
Online banking bill payment

Learn more about bill payments
1-2 business days CAD only
Pre-authorized deposit (PAD) 3-4 business days when the total daily deposit amount is under $10,000.

Up to 7 business days when the total daily deposit amount is $10,000 or more, or when using a void cheque.
CAD & USD
Transfers from another bank or broker

Learn more about transfers
It can take 20 business days or more to receive your holdings from the outgoing financial institution.

1-2 additional business days after we receive your assets from the outgoing financial institution.
CAD only
Wire transfer 1-2 business days CAD & USD
Certified cheque, bank draft, or money order

*Money orders are only accepted from major Canadian banks (TD, RBC, BMO, etc.) and not Western Union or Canada Post. 
1-2 business days CAD & USD
Non-certified cheque CAD non-certified cheques are held for 10 calendar days

USD non-certified cheques are held for 15 calendar days
CAD & USD
Stock certificate

Learn more about stock certificates
We temporarily cannot process physical stock certificate deposits due to COVID-19. Please see the linked article for DRS deposit options. CAD & USD

Unacceptable deposits

  • Cash
  • Third party deposits (When the name on your bank account doesn't match the name on your Questrade account)
  • E-Transfers to any Questrade email.
  • Payment processors, such as PayTM, Plastiq, KnightsbridgeFX, and etc..
  • Cheques with incomplete information
  • Credit card cheques and credit cards
  • Cheques drawn on foreign banks, even if in U.S. currency. (Only cheques from Canadian institutions are accepted)
  • Direct deposits by cheque or cash into Questrade's bank accounts
  • Pre-authorized deposits from registered accounts like a TFSA or RRSP, for these use a transfer instead.

Instant deposit allows you to instantly fund your Self-directed or Questwealth account using your Canadian Visa or Interac Debit card up to $3,500 per transaction (or your bank account’s daily transaction limit). Making an instant deposit is easy and takes just a few minutes and then you can immediately start putting your money to work.

Instant deposit page

To set up instant deposit, follow these easy steps:

  • Log in to your Questrade account.
  • In the top navigation bar, hover over FUNDING, and click Instant deposit in the drop-down menu. Alternatively, you can access the funding page via the Quick links section (Fund your account) on the top right of the SUMMARY page.
Select instant deposit navigation
  • Once you’re in the instant deposit page, select the funding method you want to use. You can either choose Visa direct for depositing using your Canadian Visa Debit or Interac online to instantly deposit from your online banking account.
Visa debit or interac online

Check out the sections below for detailed instructions on how to add a Visa Debit card for Visa direct, adding funds via Interac online, and frequently asked questions such as transaction limits.

Once you click Visa direct, you’ll be prompted to its main page where you can see four main sections to complete:

Adding visa direct enter details
  1. To Questrade Account
    • Select the Questrade account you want to transfer your funds into.
  2. From debit card
    • Select the Visa Debit card you wish to send your money from. If you have not added a card yet, you can add one by clicking ADD NEW DEBIT CARD.
    • Currently, we only support Canadian Visa Debit cards but are working on including more types of debit cards.
  3. ADD NEW DEBIT CARD
    • Click here to link a new Visa Debit card to your account.
  4. Deposit amount (CAD)
    • Enter the dollar amount of your deposit.

Adding your Visa Debit card

To add a Visa Debit card, click ADD NEW DEBIT CARD. Select your institution in the pop-up window. If you do not initially see your bank on the list, you can also scroll down to search for it.

Some institutions or card types do not yet support instant deposit. If your institution or card type does not support instant deposit, you’ll be notified here. We’re working hard with banking partners all across Canada to bring this feature to more Debit cards in the near future.

log into online banking instant deposit

Please note: Some banks cannot verify online banking information outside of business hours. So, if you’re setting up your Visa Debit card on a weekend or holiday, and you’re using your username to login for online banking (not your 16-digit debit card number), you'll need to wait until the next business day to set up and add your Visa Debit card. 

enter debit card details

Once you’ve logged in, please enter your Debit card information:

  1. Enter your 16 digit Visa Debit card number.
  2. Select the expiry month & year of your debit card.
  3. Input your billing address associated with your debit card.
  4. Check the box to confirm you’ve read the terms and conditions.
  5. Click NEXT to go back to the instant deposit page to continue.

To verify your account, a value of $0.01 will be withdrawn and deposited back to you immediately. You may also be asked to answer a security question here, or verify through 2-step verification for extra security.

Please note:
  • Please make sure to use a Visa Debit card account that matches the name in your Questrade account exactly. For regulatory reasons, we cannot make a deposit from a Visa Debit card account that does not match the name on your Questrade account. If you have a joint account on your Visa Debit card, the primary account holder’s name should match the Questrade account.
  • Currently, some Visa Debit cards don't have a “push” functionality where it deposits funds back immediately after a withdrawal. We're currently working our best to ensure that the $0.01 is deposited back to your account as soon as possible. In the meantime, you can contact one of our agents to request the $0.01 deposit back to your account at an earlier time.

Once you’ve added a Visa Debit card to your Questrade account, you’re ready to transfer funds to your account instantly.

adding funds visa direct
  1. Select the Questrade account you want to deposit your funds into.
    • Please be aware that deposits into registered accounts are contributions for tax-purposes.
    • For RESP and Forex & CFD accounts, the funds deposited will be available in 1-2 business days.
  2. Select the Visa Debit card you wish to transfer your funds from. Any expired card will be highlighted in RED and you won’t be able to use this card anymore for any funds transfer.
  3. Enter the Canadian dollar amount you wish to transfer to your account and click CONTINUE to review and confirm your deposit.
  4. Once you’ve confirmed your deposit, you’ll see a pop-up saying your deposit is completed and will be directed to the Deposit history tab.

Please note: We can process Debit card deposits up to $9,999.99 per transaction. To do this, you will need to contact your bank and request for a temporary increase to the daily transaction limit on your Visa Debit card. After a successful increase, simply proceed with the transfer of funds in the instant deposit page.

deposit history

Next to New deposit is the Deposit history tab. Here, you can find your deposit history in your selected Questrade account. 

The status will show Complete or Failed and you can get more information by clicking the See details link in the far right of the window.

When you click Interac online, you’ll be prompted to its main page where you can see four main sections to complete:

interac online deposit account and amount

1. To Questrade Account

Select the Questrade account you want to transfer your funds into.

2. Deposit amount (CAD)

Enter the dollar amount of your deposit. The maximum amount of Interac deposit is $3,500 per transaction.

3. Confirmation box

Ensure the name of your online banking account matches the name on your Questrade account for a smooth process of depositing funds instantly. If you have a joint account on your Interac Debit card, the primary account holder’s name should match the Questrade account. Please click See details for further information. 

4. NEXT button

Click NEXT button. A new browser tab will open where you select your bank and log in (to online banking) to complete your transfer. 

Please note: Right after clicking NEXT, your account platform tab will show an in-progress status saying you have 20 minutes to complete your transfer. Below, you also have the option to cancel your deposit. If you cancel your deposit here, you’ll be directed to the Deposit history page with the details of your transfer.

instant deposit in progress

Completing your deposit

Once you click NEXT from the Interac online page, you’ll be moved to the bank selection page. Here, you can choose the institutions you wish to transfer your funds from.

select institution interac online

If your bank doesn’t show up, you can search for them in the selection below. Alternatively, you can check a list of banks (at the bottom of the page) that Interac covers, to see if your bank is available.

search for financial institution

Once you select your bank, you’ll have to log in to your online banking account. There are three steps you have to complete:

  • Log in to your online banking account using your login credentials. This includes your username (or Interac Debit card number) and password. After signing in, you’ll be directed to the Interac Online request from your bank.
  • Confirm the deposit information you placed and complete the transfer of funds. Here, you can choose the account where you want to transfer your funds from, if you hold more than one account in your Interac Debit card.
  • Once the transfer of funds is completed, head back to your Questrade account tab and a message will appear showing your transaction is completed. Confirm the message and you’ll be directed to the Deposit history page to see the details of your transfer. On the other hand, if your transaction has failed or was cancelled, a message will appear, showing the details of that transaction. After confirming the message, you’ll be moved to the Deposit history page to see its details.

What is the maximum amount I can deposit with each instant deposit transaction?

You can deposit up to your bank’s daily transaction limit, usually $3,500 or less. However, in some cases, you can deposit up to $9,999.99 but you will need to contact your bank to temporarily increase your limit. It is important to ensure that you have enough funds in your account when doing your deposit.

What if I have two accounts on my Visa Debit card - from which account where will my transfers be pulled from?

By default when you set up a Visa Debit card, instant deposits will link through your primary account which is usually a chequing account and not to your savings or line of credit.

Which Questrade account types can I fund using instant deposit?

You can use instant deposit for all account types including Forex and CFDs accounts. However, it will not be available on registered retirement accounts that do not support new contributions (I.e. RIF, LIF, LIRA...).

Can I make an instant deposit using my Visa credit card?

To comply with Canadian regulations, investing accounts must be funded with cash, not credit. Debit cards are accepted because they let you fund your account with cash. Customers are restricted from funding using any form of credit, such as Visa, Mastercard, or American Express credit cards or prepaid cards.

When I make an instant deposit, how long does it take for it to get invested in my Questwealth account?

Successful instant deposits will appear immediately as cash on your accounts summary page (Summary of my accounts) and will be invested in your selected Questwealth portfolio in 1–2 business days (provided that your account has the minimum $1000 required to invest your money).

Please note that for new accounts, the account must first be activated before the deposit will appear as cash in the account. The deposit will not show immediately on the Investment Summary or Account Activity pages as these two pages show transactions from the previous day.

How do I cancel a complete instant deposit transaction?

Deposits happen instantly after successful transfers. Therefore, once you have completed an instant deposit transaction, it can't be cancelled or reversed.

You will need to submit a withdrawal request by logging in to your Questrade account and going to Requests > Withdraw funds. The time it takes for the money to reach your bank depends on the withdrawal method you use. For example, an electronic funds transfer can take up to 5 business days.

Can I deposit US dollars with an instant deposit?

Instant deposit is only available for depositing Canadian dollars (CAD). If you have US dollars that you want to deposit, you can first request for a currency exchange through our platform.

Can I use Instant deposit to cover my Margin Call?

Yes absolutely, we would highly recommend that you use instant deposit to cover your margin call. Depending on the amount required, you may be able to only partially cover your margin call using instant deposit. You will have to cover the remaining amount using one of the other methods outlined in the margin call notification email.

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

Bill payments are also completely free, and the simplest 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 first bill payment:

  1. Log into your bank or credit union’s online banking page.
  2. Navigate to the “Bill payments” area. (This is sometimes called “pay a bill” depending on the institution.)
  3. Add “Questrade Inc.” as the new payee.
    • Some banks such as RBC, may have us listed simply as “Questrade” without the “Inc.”
    • Please do not use the payee named “Questrade currency exchange”, that is for corporate FX accounts only.
  4. Once you’ve added the payee, add your Questrade account number
    • You can use your full 10-digit account number that’s found under “Funding” -> “Online banking
select destination account funding

Alternatively, depending on your institution, you may be able to use the shorter 8-digit version of your account number found on the summary & trading pages.

10 digit account number summary page

We provide both versions of your account number since a handful of institutions only accept payees with 10-digit accounts. Both represent the exact same account here at Questrade.

  1. Save the payee
    • You can also add a ‘nickname’ for the payee at many institutions, this can be helpful if you have multiple Questrade accounts.
  2. Make a payment to the payee for your deposit amount.

Congrats, you’ve just made a deposit to your Questrade account! Your funds should arrive within 1-2 business days.

Whether you’re new to Questrade or already a customer, you can transfer almost any type of investment account over to Questrade—for any amount and as many accounts as you like. You can transfer your cash or your actual investments (referred to as an in-kind transfer).

And the best part? We’ll cover your transfer-in fees, for up to $150 per account.

Is a transfer of cash or investments considered a contribution or withdrawal?

No. As long as you submit a transfer request for the same account type, everything stays the same. The only thing that changes is the institution holding your investments. For example, your RRSP/ TFSA contribution room/limit will stay the same after a transfer.

Can I transfer investments like Stocks, ETFs or Mutual Funds without selling them?

Yes, absolutely. With a broker-to-broker transfer, in most cases we can usually bring your investments over as-is (known as in-kind). All publicly traded North American Stocks & ETFs can be transferred in-kind, and most Mutual Funds can also be transferred in-kind. In some situations, certain Mutual Funds can only be held with specific institutions. If this is the case, we’ll follow up with you about your request with alternative options to choose from.

How much does a transfer in cost?

From the Questrade side? $0. Transfer requests processed by Questrade are completely free to initiate.

However, your outgoing institution/broker will usually charge a transfer-out fee. These range from $35-$150 for most Canadian institutions. The good news? We’ll cover your transfer fees charged by your outgoing institution.

For more details, please see here, and to claim this rebate, please upload a copy of a recent statement showing the transfer charge as a ‘rebate’ document.

Can I transfer a “locked-in” plan to Questrade?

Yes, absolutely in most cases. Locked in RSPs and Locked in Retirement accounts (LIRAs) can be transferred the same way a TFSA or “regular” RRSP can. These account types usually originate from an employer-sponsored pension or retirement plan, and once you end your employment with the provider, you are free to transfer the funds elsewhere. Some locked-in plans also allow for partial transfers each year while you’re still with your employer, if you have questions, please contact the institution currently holding your locked-in account.

Most institutions will provide you with a detailed letter outlining your transfer options after you have concluded your employment. Please pay close attention to the instructions and options available in this letter.

If you have any questions, feel free to contact our New Accounts team for assistance. You can reach them via email at newaccounts@Questrade.com, chat, or on the phone at 1.888.298.4515.

Why does a transfer request take so long?

Great question, while we attempt to process every transfer as quickly as possible, processing times at other financial institutions are out of our control. We will generally send out every transfer request within 1-3 business days of your request online. Unfortunately however, certain institutions are a little slower at fulfilling the request. In many cases, we have to wait for the outgoing institution to mail us a transfer cheque, which can add an extra delay.

Can I transfer from different account types? I.e. TFSA to RRSP?

Unfortunately, no. Broker-to-broker transfer requests can only be for the same type of account. (I.e. RRSP to RRSP, TFSA to TFSA) If you have differing account types, and you’d like to make a transfer as a contribution, please transfer to the same type of account first, then submit an internal “transfer funds/investments” request.

Will the cost or ‘book value’ of my investments be transferred?

In most cases, yes. However this depends on the transfer method used by your outgoing institution. If you notice that your book value, (also known as average cost basis) is not accurately reflected after a transfer, we can help correct this. Simply upload a recent statement showing the ‘book cost’ from the outgoing institution, then contact us via email at support@questrade.com, chat, or on the phone at 1.833.588.6914.

What if I receive a dividend payment to my old account after a transfer completes?

In some rare cases, if a dividend is paid out to your investment account right before, or during the transfer process, this cash may stay with the outgoing institution. The outgoing institution will usually automatically perform something known as a ‘residual sweep’ after your transfer completes to move these dividends to Questrade. If you notice that these dividends have not transferred, feel free to contact us via email at support@questrade.com, chat, or on the phone at 1.833.588.6914 and our client services team is happy to assist.

  • Some institutions may charge an additional penalty on top of the transfer fees themselves. For example, some mutual fund companies may charge something called a deferred sales charge (DSC) when selling a mutual fund during a transfer request (in-cash). If you are selling or liquidating any investments when requesting a transfer, we highly recommend speaking with the outgoing institution first so all the fees are clarified ahead of time.
  • Broker-to-broker transfer requests typically take 20 business days or more to complete; however, depending on the outgoing institution, there may be additional delays from their end.
  • Certain registered accounts such as RESPs or LIRAs may require additional documents when requesting a transfer. All details will be provided online when you submit your request.
  • Unfortunately, Questrade is not able to cover or reimburse you for any penalties charged by the outgoing institution during a transfer. We will only reimburse the actual transfer fees themselves.
  • Some institutions only support specific types of transfers out (In-cash only, or in-kind only) If this is the case, you will only see the option supported by your outgoing institution on the Questrade transfer request page. In addition, Questrade does not support partial RESP transfers-in.

To request a transfer, you will need the following information:

  1. The name of the institution (Bank or brokerage) that you’re transferring from.
    • Please note: Many institutions operate under many different business names, (I.e. TD Direct Investing vs. TD Canada Trust) please pay close attention to who’s holding your current investments, and submit your request to that specific institution.
  2. The account number for the account you’re looking to transfer.
    • Please note: Some institutions may have separate accounts for CAD and USD. If this is the case, you may need to request two transfers with differing account numbers for each currency account. At Questrade, every account type supports dual-currencies.
  3. The address of the institution.

All of this information can usually be found online, or on a recent statement.

To request an account transfer, please follow these steps:

Navigate to accounts
  1. Log-in to your Questrade account.
  2. Head to the “Accounts” section of the site (If you’re not already there) by clicking on the menu at the top left of the page, then click the “Accounts” icon.
  1. Hover over the “Funding” button from the top navigation bar, and click “Transfer account to Questrade”.
Funding to transfer nav GIF
  1. Click the green “Start Request” button to begin.
start transfer in request
  1. Please choose the destination account, then click the green “Next” button.
which account for transfer in
  1. Choose the financial institution from the drop-down menu. If your institution is not listed, please choose “other” from the bottom of the list. 
    • Please note: Pay close attention to the institution name here, many financial institutions operate under a variety of business names. (I.e. Scotiabank vs. Scotia iTrade)
select institution for transfer in
  1. After you choose the institution, please enter your account number. For some institutions, we may also ask for additional information.
Account number at outgoing broker
  1. If we need additional information for your request, please enter the institution’s address. If you have a direct contact such as a financial adviser, or personal banker, please provide their contact information as well.
additional information for transfer in
  1. Next, choose the type of transfer, then click the green “Next” button. There are 3 options available in most cases:
    • All-in-cash means your outgoing institution will sell or liquidate your current investments, then transfer the cash from the sale to your Questrade account.
      • Please note: Some institutions may charge for this sale/liquidation, if in doubt, please check with the outgoing bank/broker about specific fees. In addition, if this is a non-registered account, an all-in-cash transfer may trigger capital gains or income taxes, please check with an accountant if this is the case.
    • All-in-kind means your outgoing institution will transfer all of your cash and investments exactly as they are to your Questrade account.
    • A Partial request will ask for specific amounts of Cash (CAD or USD) and/or specific investments to be transferred. With a partial request you will also have to indicate what you’d like to transfer since it’s not the entire account.
transfer type selection
  1. On the “Transfer details” tab in the next section, please enter the estimated or approximate value of the transfer, and the currency. 
    • If the account you’re transferring contains both USD & CAD investments or cash, simply enter the approximate combined amount represented in either CAD or USD. Remember, you don’t have to be exact, we’re only looking for the estimated value.
transfer value
  1. On the next tab, please confirm the details of your transfer for accuracy. If everything looks fine, you can click the green “Confirm and Sign” button to move on to the final step.
confirm and sign transfer in

The last step is to sign & submit your documents for your transfer request. Most institutions support electronic signatures, if this is the case, you will be redirected to our DocuSign partner to sign your forms.

If your outgoing institution does not support electronic signatures, you will see a prompt to download & sign your forms by hand. If you need any assistance uploading your documents, please see this article.

docusign transfer in

To sign electronically, simply click the green “Start” button on the left side, and then click the yellow box where it indicates a signature. When you click this, your signature will be pre-filled from other agreements, or you can choose to draw, or pick a pre-generated electronic signature.

Congrats! You’ve finished your transfer request. Your account and investments or cash will be on their way shortly.

Please note: For certain institutions, your transfer request may take 20 business days or more to complete fully.

If you’d like to check the status of your transfer request, simply click the “Request History” button on the transfers page here for more information.

transfer history tab

If you were charged a fee by the outgoing institution for your transfer, we can help rebate up to $150 per account transfer in. For the full terms and conditions of the promotion, please see here.

To claim a rebate for these transfer fees, please upload a recent statement, or clear screenshot showing the transfer charge from the other institution.

Statements and screenshots must contain:

  • Account number
  • Matching customer name
  • Institution logo, or other identifying feature
  • Transfer fee/charge

You can upload your statement or screenshot through our secure upload portal. Please choose “rebate” as the “Document type”.

Please note: You must upload your statement or screenshot for your rebate within 60 days of the transfer request.

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

So, when making a deposit to your Questrade account, the account where the money or investments is coming from and the Questrade account where the money is going to must have identical names. We cannot accept deposits from a third party/person such as a friend, coworker, parent, uncle, aunt, etc.

There are a few exceptions where Questrade can process deposit requests where the account holder’s name does not match.

Below are 4 different scenarios where you can make a deposit into your account but require more documentation and information to do so. If your deposit request does not fall under any of the scenarios, your request will be cancelled and money will be returned to the sending bank.0

If you use a short-form of your name on your bank account, or a preferred name provided by yourself, we would need documentation proving that this account is held by you. (For example, if the name on your Questrade account is Jonathan Smith and the name on your bank account is John Smith)

Please contact the financial institution to provide a letter confirming that the two names are in fact the same person. You can then upload a copy of that letter to your Questrade account using the Upload Documents area in your Questrade account. While uploading documents, please select the document type as ‘Bill Payment Receipt’.

You will need to provide documentation that shows you are the sole beneficial owner of the corporation that you are trying to deposit funds from.

To do this, please provide one of the following documents showing your name:

You can then upload a copy of either of these to your Questrade account using the Upload Documents area in your Questrade account. While uploading documents, please select the document type as ‘Bill Payment Receipt’.

At times, banks shorten names on joint accounts or mention only one account holder’s name which prevents us from validating the names.

To prove joint account ownership, you can provide us with a void cheque, direct deposit form or bank statement that shows both account holders names.

You can then upload a copy of either of these to your Questrade account using the Upload Documents area in your Questrade account. While uploading documents, please select the document type as ‘Bill Payment Receipt’.

You can transfer funds from a spouse’s bank account. But first you must make sure your spouse’s information is updated in your Profile in your Questrade account. Once this information is saved in your account the deposit will be processed.

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