Instant deposit (2024)

• In your trading view, press Move money to go to the next section where it’ll ask you what you’d like to do with your money
• Click Deposit funds and choose Instant deposit as your method of transfer
• Here, you can select the funding method you want to use. You can either choose Visa debitor Interac online.

Once you click Visa direct, you’ll be prompted to its main page where you can see four main sections to complete:

Adding your Visa Debit card

To add a Visa Debit card, click ADD NEW DEBIT CARD. Select your institution in the pop-up window. If you do not initially see your bank on the list, you can also scroll down to search for it.

Some institutions or card types do not yet support instant deposit. If your institution or card type does not support instant deposit, you’ll be notified here. We’re working hard with banking partners all across Canada to bring this feature to more Debit cards in the near future.

Please note: Some banks cannot verify online banking information outside of business hours. So, if you’re setting up your Visa Debit card on a weekend or holiday, and you’re using your username to login for online banking (not your 16-digit debit card number), you'll need to wait until the next business day to set up and add your Visa Debit card.

Please note:

• Please make sure to use a Visa Debit card account that matches the name in your Questrade account exactly. For regulatory reasons, we cannot make a deposit from a Visa Debit card account that does not match the name on your Questrade account. If you have a joint account on your Visa Debit card, the primary account holder’s name should match the Questrade account.
• Currently, some Visa Debit cards don't have a “push” functionality where it deposits funds back immediately after a withdrawal. We're currently working our best to ensure that the $0.01 is deposited back to your account as soon as possible. In the meantime, you can contact one of our agents to request the $0.01 deposit back to your account at an earlier time.
• Deposit up to $10,000 per day with Interac or your Visa Debit card. Please contact your bank to authorize deposits over your normal daily maximum.

When you click Interac online, you’ll be prompted to a page where you can see five sections to complete:

Completing your deposit

Once you click NEXT from the Interac online page, you’ll be moved to the bank selection page. Here, you can choose the institutions you wish to transfer your funds from.

If your bank doesn’t show up, you can search for them in the selection below. Alternatively, you can check a list of banks (at the bottom of the page) that Interac covers, to see if your bank is available.

Once you select your bank, you’ll have to log in to your online banking account. There are three steps you have to complete:

• Log in to your online banking account using your login credentials. This includes your username (or Interac Debit card number) and password. After signing in, you’ll be directed to the Interac Online request from your bank.
• Confirm the deposit information you placed and complete the transfer of funds. Here, you can choose the account where you want to transfer your funds from, if you hold more than one account in your Interac Debit card.
• Once the transfer of funds is completed, head back to your Questrade account tab and a message will appear showing your transaction is completed. Confirm the message and you’ll be directed to the Deposit history page to see the details of your transfer. On the other hand, if your transaction has failed or was cancelled, a message will appear, showing the details of that transaction. After confirming the message, you’ll be moved to the Deposit history page to see its details.

What is the maximum amount I can deposit with each instant deposit transaction?

You can deposit up to your bank’s daily transaction limit, usually $10,000 or less. Please contact your bank to authorize deposits over your daily maximum.It is important to ensure that you have enough funds in your account when doing your deposit.

What if I have two accounts on my Visa Debit card - from which account where will my transfers be pulled from?

By default when you set up a Visa Debit card, instant deposits will link through your primary account which is usually a chequing account and not to your savings or line of credit.

Which Questrade account types can I fund using instant deposit?

You can use instant deposit for all account types including Forex and CFDs accounts. However, it will not be available on registered retirement accounts that do not support new contributions (I.e. RIF, LIF, LIRA...).

Can I make an instant deposit using my Visa credit card?

To comply with Canadian regulations, investing accounts must be funded with cash, not credit. Debit cards are accepted because they let you fund your account with cash. Customers are restricted from funding using any form of credit, such as Visa, Mastercard, or American Express credit cards or prepaid cards.

When I make an instant deposit, how long does it take for it to get invested in my Questwealth account?

Successful instant deposits will appear immediately as cash on your accounts summary page (Summary of my accounts) and will be invested in your selected Questwealth portfolio in 1–2 business days (provided that your account has the minimum $1000 required to invest your money).

Please note that for new accounts, the account must first be activated before the deposit will appear as cash in the account. The deposit will not show immediately on the Investment Summary or Account Activity pages as these two pages show transactions from the previous day.

How do I cancel a complete instant deposit transaction?

Deposits happen instantly after successful transfers. Therefore, once you have completed an instant deposit transaction, it can't be cancelled or reversed.

You will need to submit a withdrawal request by logging in to your Questrade account and going to Requests > Withdraw funds. The time it takes for the money to reach your bank depends on the withdrawal method you use. For example, an electronic funds transfer can take up to 5 business days.

Can I deposit US dollars with an instant deposit?

Instant deposit is only available for depositing Canadian dollars (CAD). If you have US dollars that you want to deposit, you can first request for a currency exchange through our platform.

Can I use Instant deposit to cover my Margin Call?

Yes absolutely, we would recommend that you use instant deposit to cover your margin call.Depending on the amount required, you may be able to only partially cover your margin call using instant deposit. You will have to cover the remaining amount using one of the other methods outlined in the margin call notification email.

Please note: In extreme market conditions, there may be circ*mstances where the account may still get liquidated even after the deposit of funds.