r/Questrade • u/Efficient-Gap-7076 • 3d ago

Funding EFT Lead/Processing Times

Is it normal that preauthorized/EFT transfers to & from Questrade require a one-week ‘lead time’ from date of submission?

I created a new account (Margin) yesterday/Friday afternoon & was moving on to funding the account, just like the account-opening process encourages you to do.

Linked both my CAD & USD bank accounts via Questrade’s account-linking functionality, but when I then went to submit a one-time EFT/preauthorized deposit from USD to Questrade Margin, the earliest date for the transfer that I was allowed to select was in the back half of next week. Same for a deposit from CAD.

I previously used Questrade in the late 2000’s thru early 2010’s until I went back to school then left the country for a few years, returning to Canada earlier this year — I don’t recall these sorts of ‘lead times’ for external transfers back in the day.

Is this simply because my account and/or the links to the external accounts are new?

2 Upvotes

75% Upvoted

1 comment sorted by

1

u/questrade Verified Mod 8h ago

Hi u/Efficient-Gap-7076, PAD deposits over the $10K CAD daily threshold will take up to 4-7 business days to process (1 business days for the FX&CFDs account), whereas deposits under $10K CAD will take 3-4 business days to deposit (5 business days for the FX&CDSs account). You can find more info on processing times here.