Pre-Authorized Debit | Implicity Financial | Discussion forum

vijb, welcome! Let me try to help. You can set up pre-authorized debit for credit card bills and utility bills. You do it at bill company, usually providing the bill company a VOID cheque of Implicity Account. It looks like Implicity does not charge a fee for pre-authorized debits. If you set up multiple pre-authorized debits, the draw dates can be different, depending on various billing companies.

Yes, you can deposit your salary to Implicity Account by "Direct Deposit". Again, you setup the linkage at your company. You may deposit government benefits to Implicity too.

We have had automated deposits and debits for many years and have never had a problem - yet.

The only issues was with one credit card which did not have a provision for automatic payment. However, that credit card company was eventually bought up by one of the major banks and we no longer have this issue.

There is a real plus to having automatic payment of credit card bills, as you never have to worry about missing a deadline, having to pay interest, and having your credit rating affected. The cost of missing a credit card payment deadline is far higher than missing any other bill. I'm sure, however, that this will only work for credit cards which are issued in Canada. Don't plan on using your existing credit card here once you have settled. You will need to build your credit rating here.

I agree with kanaka's point about using credit cards in preference to other forms of payment wherever possible in order to get the extra benefits from credit cards - usually in the form of Cashback returnsl As a newcomer, you may not yet qualify for a credit card with significant returns, but you will in due course if you pay your bills on time.

In general, Quebec has a lot of rules that are different from the rest of the country, so you will sometimes run into things that don't apply in Quebec. Some of these have to do with language issues and some with consumer protection, the latter being stronger in Quebec. And some of their legal system is still based on the Napoleonic Code, reflecting French roots. If one wishes to be a lawyer in Quebec, it literally takes an extra year of study than anywhere else, which may give you an idea of just how different it can be!

Some financial institutions don't deal with Quebecois, as you may have already discovered, but Implicity is fine with that. This happens because they don't want to or don't have the capacity to meet all the rules for operating in Quebec.

I don't think any of this should affect your ability to do pre-authorized debits, but, then, I have never lived in Quebec.

Anyway, I think you have a plan!

Quebec is a beautiful province. I hope you enjoy it. If you don't already speak French, plan on learning it, as that will enrich your life considerably. It's not essential in Montreal and Gatineau, but it does help you to appreciate what the area has to offer, especially if you will be staying there long-term.

Welcome!

I would never authorize ANY company to access my bank account for bill payment. Run it through a credit card company if possible, or set up payments through your banks website. Once you authorize a company to access your accounts, it can be very difficult to "un-authorize" them

kanaka said
Like Justme says.....In Ontario you cannot pay Electricity, Natural gas, Property tax and Water by credit card. That applies to BC too. I allow, for convenience, preauthorized for Gas and Electricity but "bill pay" my Property Tax. Although I do this it is not my first choice....credit card would be. Perhaps preauthorized payments should come from from one account only with a controlled (low) balance????
I would never, ever, allow a preauthorized credit card balance to be paid.

All the bills you mention CAN be paid through most banks, but you have to set up payments manually. I pay them all thru my banks website. I would rather send them all a check than allow any of them to automatically debit my account.

vijb said

I didn't really mean this to become a discussion about whether one should use pre-authorized debits or not. But since we are off topic a little...

Is there a way to transfer (push) money to another bank account in Canada when you know the routing number/account number? I don't see it on the list of things included in this account. Not sure if just this account doesn't have it, it's called something I don't understand, or it generally isn't done in Canada?

Also, I assumed I wouldn't pay rent with a credit card, but what is the likely way I would pay rent in Montreal? In 2/3 countries I have lived in I just did a transfer to the landlords account (recurring transfer set up from my online banking). The other country I had to use cheques (checks?) Please tell me I'm not going to have to do that. Maybe the landlord would have bill pay?

Thanks again!

When you push money it is usually to your own account at another institution. But on my Coast Capital account there is an option to push money to another members Coast Capital account.

My daughter accepts rent by email. Believe it is a option to use via interac. I imagine there will be others here that know more about it.

Some landlords will request a set of post-dated cheques for the term of the lease. You will have to sort this out with your landlord ("proprietaire").
Here are the obligations of a tenant under QC law. Sorry, only in French online. It doesn't say anything about how you are to pay, only that you must pay on time. http://www.rdl.gouv.qc.ca/fr/d.....ataire.asp

Yes, it's "cheques", anywhere in Canada. "Checks" are for checklists, checks and balances, etc.

vijb said
...
Is there a way to transfer (push) money to another bank account in Canada when you know the routing number/account number? I don't see it on the list of things included in this account. Not sure if just this account doesn't have it, it's called something I don't understand, or it generally isn't done in Canada?
...

Those are called wire transfers or wire payments. Wire transfers are not generally done in Canada and are usually done for transferring large amounts quickly. Their cost reflects that. To give an idea of the cost, PC Financial charges the following to send a wire transfer:

$10,000 or less: $30.00 per payment
$10,000.01 - $50,000: $50.00 per payment
Greater than $50,000: $80.00 per payment

On the receiving end, PC Financial may charge $10 for an incoming wire transfer that is from another financial institution.

Implicity Financial probably offers wire transfers as a special request too. Probably need to ask for their pricing.

Now, if that other account is a chequing account that belongs to you, then you can, instead, do an Implicity Me2Me transfer to send/push funds to the chequing account. I think their Me2Me transfers are free.

That's odd. Implicity's Service Fees page says both direct deposits and pre-authorized debits (PAD's) are free.

Maybe it's just Funds Transfer PAD's, used to move money between accounts held by the same person at different CPA member financial institutions, that are not allowed. Another kind is Personal PAD's, used by people to pay companies for goods and services.

Same with direct deposits. Payroll direct deposits may be allowed. But, not funds transfer direct deposits.