Comments on: How to Quickly Fund Your Questrade account with US Dollars http://www.canadiancapitalist.com/how-to-quickly-fund-your-questrade-account-with-us-dollars/ Helping you invest and prosper Sun, 12 Feb 2012 00:54:40 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Adieu to Questrade http://www.canadiancapitalist.com/how-to-quickly-fund-your-questrade-account-with-us-dollars/#comment-128175 Adieu to Questrade Wed, 16 Apr 2008 19:10:54 +0000 http://www.canadiancapitalist.com/2007/09/04/how-to-quickly-fund-your-questrade-account-with-us-dollars#comment-128175 [...] it may take as long as 20 business days for your account to be funded. While, it is true that there is an alternate way for the funds to appear in your account a little faster, it is still slow compared to TD Waterhouse. You can walk into any TD Canada Trust branch with your [...] [...] it may take as long as 20 business days for your account to be funded. While, it is true that there is an alternate way for the funds to appear in your account a little faster, it is still slow compared to TD Waterhouse. You can walk into any TD Canada Trust branch with your [...]

]]> By: Canadian Capitalist http://www.canadiancapitalist.com/how-to-quickly-fund-your-questrade-account-with-us-dollars/#comment-73877 Canadian Capitalist Fri, 26 Oct 2007 19:40:30 +0000 http://www.canadiancapitalist.com/2007/09/04/how-to-quickly-fund-your-questrade-account-with-us-dollars#comment-73877 Mr. T: Yes, my understanding is this method would work both for USD and CAD cheques as long as you can show that the funds cleared with a bank statement. I agree with you that a 1 month hold is annoying and the lost interest negates any savings on commissions. Mr. T: Yes, my understanding is this method would work both for USD and CAD cheques as long as you can show that the funds cleared with a bank statement. I agree with you that a 1 month hold is annoying and the lost interest negates any savings on commissions.

]]> By: Mr. T http://www.canadiancapitalist.com/how-to-quickly-fund-your-questrade-account-with-us-dollars/#comment-73866 Mr. T Fri, 26 Oct 2007 18:20:23 +0000 http://www.canadiancapitalist.com/2007/09/04/how-to-quickly-fund-your-questrade-account-with-us-dollars#comment-73866 Would this tip work for banks that Questrade does not take direct deposits from? Currently, with HSBC, a personal cheque mailed on Sep 11 does not clear until Oct 15. That's over 1 month of waiting. In this case, the funds were actually withdrawn on Sep 14th, if I could do the "fax" tip and have funds available 24 hours later, I would probably be much more satisfied with the service. Still a lot of running around and paperwork, but right now, a 1 month wait for a CAD cheque to clear and then a couple days for them to convert it to USD has made me put my trading on hold. If I were to try and put some cash in today, it might be available around December, I'll just stick with my high interest savings until this is fixed. Would this tip work for banks that Questrade does not take direct deposits from? Currently, with HSBC, a personal cheque mailed on Sep 11 does not clear until Oct 15. That’s over 1 month of waiting. In this case, the funds were actually withdrawn on Sep 14th, if I could do the “fax” tip and have funds available 24 hours later, I would probably be much more satisfied with the service. Still a lot of running around and paperwork, but right now, a 1 month wait for a CAD cheque to clear and then a couple days for them to convert it to USD has made me put my trading on hold. If I were to try and put some cash in today, it might be available around December, I’ll just stick with my high interest savings until this is fixed.

]]> By: Canadian Capitalist http://www.canadiancapitalist.com/how-to-quickly-fund-your-questrade-account-with-us-dollars/#comment-66733 Canadian Capitalist Fri, 14 Sep 2007 16:39:06 +0000 http://www.canadiancapitalist.com/2007/09/04/how-to-quickly-fund-your-questrade-account-with-us-dollars#comment-66733 On this topic, I tried sending a personal cheque on my RBC USD chequing account to TD Waterhouse. I made a mistake and sent it by mail to the local TD Waterhouse office instead of walking into a local TD Canada Trust branch. I sent the cheque on Sept 7th and it got credited into my investment account on Sept 14th. I don't know how TD Bank deals with the bounced cheques problem but Questrade's big competitors are extremely fast in crediting money into the account. On this topic, I tried sending a personal cheque on my RBC USD chequing account to TD Waterhouse. I made a mistake and sent it by mail to the local TD Waterhouse office instead of walking into a local TD Canada Trust branch. I sent the cheque on Sept 7th and it got credited into my investment account on Sept 14th. I don’t know how TD Bank deals with the bounced cheques problem but Questrade’s big competitors are extremely fast in crediting money into the account.

]]> By: Weekend Reading - Sept 14, 2007 | Million Dollar Journey http://www.canadiancapitalist.com/how-to-quickly-fund-your-questrade-account-with-us-dollars/#comment-66670 Weekend Reading - Sept 14, 2007 | Million Dollar Journey Fri, 14 Sep 2007 07:31:31 +0000 http://www.canadiancapitalist.com/2007/09/04/how-to-quickly-fund-your-questrade-account-with-us-dollars#comment-66670 [...] Questrade members out there, have you had long delays in processing your USD based deposits?  Canadian Capitalist has come up with a solution on how to cut down on the [...] [...] Questrade members out there, have you had long delays in processing your USD based deposits?  Canadian Capitalist has come up with a solution on how to cut down on the [...]

]]> By: Canadian Capitalist http://www.canadiancapitalist.com/how-to-quickly-fund-your-questrade-account-with-us-dollars/#comment-66135 Canadian Capitalist Mon, 10 Sep 2007 16:24:03 +0000 http://www.canadiancapitalist.com/2007/09/04/how-to-quickly-fund-your-questrade-account-with-us-dollars#comment-66135 Rookie: Yes, I tried setting up Questrade as a payee from my RBC USD chequing account. But the payment cannot be done in US dollars but is first converted to Canadian dollars automatically before sending it to Questrade. Unfortunately, sending a cheque is the only free way to fund your USD account for now. Rookie: Yes, I tried setting up Questrade as a payee from my RBC USD chequing account. But the payment cannot be done in US dollars but is first converted to Canadian dollars automatically before sending it to Questrade. Unfortunately, sending a cheque is the only free way to fund your USD account for now.

]]> By: Rookie http://www.canadiancapitalist.com/how-to-quickly-fund-your-questrade-account-with-us-dollars/#comment-66131 Rookie Mon, 10 Sep 2007 16:17:26 +0000 http://www.canadiancapitalist.com/2007/09/04/how-to-quickly-fund-your-questrade-account-with-us-dollars#comment-66131 CC: have you tried setting Questrade up as a payee from your online banking. I have found that this works fairly well for Canadian Dollars. The funds show up in a few days. This might also work for US Dollars, although I have not tried it. CC: have you tried setting Questrade up as a payee from your online banking. I have found that this works fairly well for Canadian Dollars. The funds show up in a few days. This might also work for US Dollars, although I have not tried it.

]]> By: FourPillars http://www.canadiancapitalist.com/how-to-quickly-fund-your-questrade-account-with-us-dollars/#comment-65444 FourPillars Thu, 06 Sep 2007 03:42:25 +0000 http://www.canadiancapitalist.com/2007/09/04/how-to-quickly-fund-your-questrade-account-with-us-dollars#comment-65444 Joe, in that case the short term trading fee would only apply to the small amount that was added. You might not be charged the fee for even the small amount if you are doing a withdrawal rather than a switch to another fund but you'd have to check with the company. Mike Joe, in that case the short term trading fee would only apply to the small amount that was added.

You might not be charged the fee for even the small amount if you are doing a withdrawal rather than a switch to another fund but you’d have to check with the company.

Mike

]]> By: Canadian Capitalist http://www.canadiancapitalist.com/how-to-quickly-fund-your-questrade-account-with-us-dollars/#comment-65435 Canadian Capitalist Thu, 06 Sep 2007 03:07:15 +0000 http://www.canadiancapitalist.com/2007/09/04/how-to-quickly-fund-your-questrade-account-with-us-dollars#comment-65435 Joe: That's a good question. I would assume that there should be no penalty since you can claim that you are only withdrawing what was there before. However, I have personally never done this and would check with the mutual fund first. Joe: That’s a good question. I would assume that there should be no penalty since you can claim that you are only withdrawing what was there before. However, I have personally never done this and would check with the mutual fund first.

]]> By: joe http://www.canadiancapitalist.com/how-to-quickly-fund-your-questrade-account-with-us-dollars/#comment-65429 joe Thu, 06 Sep 2007 02:49:20 +0000 http://www.canadiancapitalist.com/2007/09/04/how-to-quickly-fund-your-questrade-account-with-us-dollars#comment-65429 Hi Earl, Thanks for the information. Your description is right, and I Understand the need for the short-term trading fees. However, I'm wondering how it applies if you have an existing fund with money that's been there awhile (i.e. no excessive trading fees if you were to withdraw) and then add a small amount - does that then mean you can't withdraw any amount without penalty? Hi Earl,

Thanks for the information. Your description is right, and I Understand the need for the short-term trading fees.

However, I’m wondering how it applies if you have an existing fund with money that’s been there awhile (i.e. no excessive trading fees if you were to withdraw) and then add a small amount – does that then mean you can’t withdraw any amount without penalty?

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