Make Deposits and Withdrawals
Managing cash flows in your wealth management account is simple. Here's how to add funds or make withdrawals.
Making Deposits
Online Banking Transfer
1 Log into online banking and select "Transfers"
2 Choose your wealth management account as destination
3 Enter amount and confirm transfer
Pre-Authorized Deposits
- Set up automatic monthly or bi-weekly transfers
- Ideal for systematic investment plans
- Can be modified or cancelled anytime
- Helps with dollar-cost averaging strategy
Wire Transfers
For Large Deposits: Wire transfers are best for amounts over $50,000
- Contact your advisor for wire instructions
- Same-day processing available
- Additional fees may apply
Making Withdrawals
Processing Times
| Withdrawal Method | Processing Time |
|---|---|
| Online transfer to bank account | 1-2 business days |
| Wire transfer | Same day if before 2 PM |
| Cheque by mail | 5-7 business days |
Important Considerations
Tax Impact: Withdrawals from registered accounts (RRSP) may have tax consequences.
- Settlement Period: Allow 2-3 days after selling investments
- Minimum Balance: Some accounts require maintaining minimum balances
- Withdrawal Limits: Daily and monthly limits may apply
Systematic Withdrawal Plans
Set up regular withdrawals for retirement income:
- Choose frequency: Monthly, quarterly, or annually
- Fixed dollar amount or percentage of portfolio
- Automatic rebalancing available
- Tax-efficient withdrawal strategies
Need Help?
Can I withdraw from my TFSA anytime?
Yes, TFSA withdrawals are tax-free and can be made anytime. You can recontribute the amount in the following year.
What if I need emergency funds?
Contact your advisor for expedited withdrawal options. Same-day wire transfers are available for urgent needs.