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Email this8:24 pm
February 20, 2013
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Just completed transfers of RRSP's into Hubert. The process went smoothly.
1. Open RRSP accounts with Hubert online. (spousal and sole)
2. Complete RRSP Direct Transfer in Forms and print.
3. Faxed RRSP Direct Transfer forms to Hubert (approx 1 month prior to date that wished transferred from external FI). Prior to faxing I called Hubert to confirm a fax was acceptable. This may depend on where the transfer is coming from as to whether a fax is OK.
4. Completed Designation of Beneficiary Forms and mailed originals to Hubert.
5. Transfers were completed within 2 business days and received a confirmation email from Hubert on the same day that the funds were received from Hubert.
11:36 pm
October 21, 2013
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It sure speeds things up if a fax would be acceptable.
Mail from Selkirk to Toronto seems to take a week or close to it.
9:42 am
February 17, 2013
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That's exactly how I did it (except accounts were already open). I also gave receiving bank a heads up that there was a transfer coming through and put a note to both institutions at the top of the transfer form that funds were in a gic and would be available Jan 13. Hubert is ok with faxes for transfer forms, it depends on whether or not the other FI is (and not all are). The funds are going snail-mail no matter what. Paid 20 bux for 2 day envelope and funds were in Hubert in 2 days (I, also, am less than pleased with postal service to Selkirk)
11:33 am
February 20, 2013
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The funds are going snail-mail no matter what.
Hubert rec'd funds within 2 business days so pretty sure it would not have been by mail.
12:44 pm
February 17, 2013
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frugal lady said
The funds are going snail-mail no matter what.
Hubert rec'd funds within 2 business days so pretty sure it would not have been by mail.
May also depend on sending bank as well. First time I transferred to Hubert it took over 2 weeks. Haven't heard any of them can transfer registered funds electronically. Maybe times have changed.
1:53 pm
May 27, 2016
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I'm fascinated by this topic. How did you convince the relinquishing institution to use your prepaid mailer in order to speed things up? And how did you get the mailer into the hands of the right person in back office who was handling your transfer?
I can't even get the names of anyone specific from a BigBank back office, much less get them to talk to me or provide that kind of service
3:22 pm
February 17, 2013
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Londonguy said
I'm fascinated by this topic. How did you convince the relinquishing institution to use your prepaid mailer in order to speed things up? And how did you get the mailer into the hands of the right person in back office who was handling your transfer?I can't even get the names of anyone specific from a BigBank back office, much less get them to talk to me or provide that kind of service
I phoned and talked to my CSR. They are the ones that actually do it @ Motive in Edmonton. Told her I wasn't happy with regular service and could they overnite it for me and take the fee from my account. Not sure how they got the actual envelope, would assume they have access to any delivery service required...somehow. They used the one I requested so maybe someone picked one up on their lunch break. One nice thing about Motive...you talk to actual people running the show, even a manager once or twice, and not some sub-terrestrial peon with no real authority reading a script from offshore somewhere. Kind of the service I've grown accustomed to. Shout out to all the CSR's at Motive. Keep up the great work!
4:50 pm
October 21, 2013
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I haven't kept any registered funds at BigBanks for a while but I would have no hope of getting anywhere on the phone with arranging courier delivery. I would suggest going into your local branch (where you probably got the account in the first place), and don't leave until you get what you want. Talk to branch manager if all else fails. Bring your lunch! An open can of sardines is always a good incentive to get things moving faster. Just be very polite about it.
9:49 pm
April 6, 2013
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Rick said
May also depend on sending bank as well. First time I transferred to Hubert it took over 2 weeks. Haven't heard any of them can transfer registered funds electronically. Maybe times have changed.
Not yet. The cash can be transferred electronically. But, not the required signed agreements.
In section II of the T2033, receiving financial institution needs to consent to the direct transfer and provide the specimen receiving plan.
In section III, relinquishing financial institution needs to indicate any spousal contributions to the RRSP and any locked-in pension legislation that may apply to the funds.
In section IV, the receiving financial institution agrees to administer any locked-in funds and spousal contributions appropriately.
Could one day be possible electronically with the ISO 20022 part of Payment Canada's modernization project. That would allow an electronic payment "sender to include a wide-range of messages along with payments enhancing payment clarity." Among the messages included could be an electronic copy of the transfer form.
8:52 am
May 22, 2015
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I send my RRSP transfer form to Hubert by email (printed, signed then scanned). Next day Acheiva called me to confirm with me. I didn't even have to mail the original form. They asked me why, kind of tried to make me change my mind. Then they said the transfer will be initiated a day after.
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