Funding Questrade with USD from RBC USD eSaving account?
I have some USD in RBC USA eSaving account that I want to transfer to Questrade.
From what I've read, the pre-authorized deposit method is the simplest way to do it.
Questrade says "In order to initiate a pre-authorized deposit, we require a VOID cheque or stamped direct deposit form for this account, signed and stamped by your bank."
But I've never have any cheques with that account and not sure what a stamped direct deposit is.
I don't even know if RBC will charge me any fee for pre-authorized payment from this USD eSaving accoumt
Has anyone been through this?
Last edited by Andre112; 2012-05-01 at 11:44 AM.
You can get a pre-authorized debit form from an RBC branch that acts like a void cheque. Very simple. Just upload a scanned copy of this form to your Questrade account and go from there.
And now I will ask you a question. With your RBC US eSavings account, can you withdrawal US cash from a branch at no fee? I mean, can you use that as your one free transaction, or does it count as a $3 "assisted transaction". Currently I am using my TD USD account, which has unlimited free debits as long as I maintain $1000. I will likely maintain this as my US Account, but just curious about the RBC version because it has a higher interest rate.
Thank for the reply.
I can withdraw USD cash from branch once a month without any fee.
I've done it many times.
Now I'm not sure if pre-authorized debit count as normal transaction or assisted transaction.