Welcome to Questrade. In this video, we're going to show you the three most popular ways to fund
your account. Instant deposit, online bill payments, and pre-authorized deposits. First,
let's look at the fastest way you could fund your account. Instant deposit. Perfect for
investors on the go, instant deposit lets you fund your account immediately. This allows you
to start trading right away without having to wait for your request to be processed.
Instant deposit is available through your visa debit card with a deposit limit of up to thirty
five hundred dollars per day. Please note that the amount you can deposit depends on your card's
daily limit. Additionally, instant deposit currently applies to Canadian dollars only.
To get started, simply log in to your Questrade account. Head over to the instant deposit page
under funding on your navigation bar. Here you'll have the sections that you'll need to
complete a deposit such as your Questrade account, visa debit card you want to use,
the ability to add a new debit card, and the amount of money you wish to deposit.
If you haven't added your debit card yet head over to add new debit card.
Select your bank on the new window. Enter your online banking login details. Read over and
agree to the terms and conditions then click next. You may be asked to verify your information using
your security question or a two-step verification for extra security. Select your bank account that
offers instant deposit and verify your visa debit account details with your 16 digit card number.
The cvv number which is also required is the three digit number on the back of your card. Enter the
expiry month and year as well as the residential address associated with your bank account. Please
make sure that your visa debit card exactly matches the same name as your Questrade account.
A value of one cent will be withdrawn then deposited back to verify your account.
You will only need to do this setup process one time in order for us to set up a connection with
your bank. Once that connection is made further instant deposits will be much faster and easier.
Once you've set up and added your visa debit card continue with your deposit by entering your
deposit details on the instant deposit page. Start with the Questrade account you want to transfer
funds in, visa debit card you're transferring funds from, and the amount you wish to deposit.
You can deposit up to your bank's daily transaction limit which is usually thirty
five hundred dollars per day or less. However, in some cases you can deposit up to ten thousand
dollars per transaction but you will need to first call your bank to request for a temporary increase
on your transaction limit. Please ensure that you have enough funds in your account when you
deposit. Once you've confirmed your deposit you'll see a confirmation message that your deposit is
completed and you'll be directed to the deposit history tab to see the details of your transfer.
Online bill payments is the second most popular way to fund your account.
To fund your account using online bill payment simply log in to your bank or credit union's
online banking or mobile app and navigate to the bill payments section.
Add Questrade as a new payee and enter your 8 to 10 digit account number. You can use your full 10
digit account number found on the online banking link under the funding tab or you may also use the
shorter eight digit account number you have that can be found on the summary and trading pages.
Once you've added your account as a payee, simply continue by depositing your funds
to that payee. Once you've sent the funds please allow one to two business days for
them to arrive in your Questrade account. If you do not have online banking you can also deposit
through telephone banking or with a teller at a branch in the same way you'd pay a bill.
Pre-authorized deposits are the third most popular funding method. This is a great way to make
regular deposits so you could pay yourself first and start building wealth. To fund your account
using a pre-authorized deposit you'll first need to log into your Questrade account. Once
logged in hover over the funding tab at the top of the page and click on pre-authorized deposit.
Here you'll click on add new bank account. A new window will pop up and give you two options to
choose from, connect with your bank or set up manually. For the first option,
when you click the connect your bank button you'll see a list of bank and credit unions available.
If your bank is not there close the window click add new bank account and select setup manually
where you'll need to enter the details of your bank manually. For this method, you'll also
need to provide a copy of your direct deposit form or void check with the same name on your
Questrade account. If your bank is listed in the connect with your bank option, simply click your
institution and you'll be directed to start the connection process to your bank. Here you'll need
to enter your online banking login credentials and click submit. Questrade will then connect
to your bank and you can choose which specific bank account you want to deposit the funds from.
Once the connection has been established you'll see your bank account number and a check mark.
Simply fill out the form for your deposit details below and your funds will be on the
way. For deposits under ten thousand dollars it typically takes two to three business days from
the start date. For deposits over ten thousand dollars expect between four to seven days for
your bank to send us your money. Click continue to see a confirmation of the pre-authorized deposit.
Congratulations you've now learned how to fund your account. For more informative videos on
how to navigate your Questrade, accounts please check out the other videos on our youtube channel.