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PT: timeline for funds transfer from external linked FI
January 5, 2020
10:45 am
10:45 am
GICinvestor
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April 26, 2019
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January 5, 2020
11:07 am
11:07 am
Nehpets
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ReX said
Assuming an e-account is already open... and transferring new funds in, do they credit your account instantly or there is a wait period before you see it checking the balance?
My experience, as recently as this weekend, is that the account is not credited immediately, as it is with, say, DUCA.
I did an EFT transfer from an external FI to Peoples Trust on Friday afternoon and the Peoples Trust account showed the credit the next day, when the actual EFT was completed.
This most recent experience is consistent with previous transfers to Peoples Trust during the past year.
I believe there is also a ten day hold on incoming funds, which is overridden when the funds are transferred internally to a GIC account, for example.
Stephen
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