Transfers, Foreign Exchange and Contributions FAQs

Moving cash and securities into and between your RBC Direct Investing accounts is easy! Here we answer popular questions on how to fund your account, including options such as a Pre-Authorized Contribution (PAC) plan or using Avion points to make your account deposits or contributions.

Cash Transfers

How do I transfer cash from RBC Online Banking?

If you bank online with RBC Royal Bank you can use the same login you use for banking to access your account(s) at RBC Direct Investing – on the secure online investing site or the RBC Mobile¹ app. This makes it easy to transfer funds to your account(s) in real time, from wherever you are!

RBC Online Banking:

On your Account Summary page, select Transfer Funds from the right menu. On the next page, select "Transfer to Direct Investing or InvestEase" from the left menu.

Can’t see your investment accounts on your online banking Account Summary page?

• On your RBC online banking Account Summary page, go to the Account Management box on the bottom right. Select “Link Accounts” and choose RBC Direct Investing.

RBC Direct Investing site:

• Find Trade & Transfer on the site menu, then go to Transfers and click on Transfer Funds
• From the Transfer Cash tab, select your RBC Royal Bank chequing or savings account in the “From Account” field
• Select your RBC Direct Investing account in the “To Account” field
• Enter the amount you wish to transfer in the “Amount” field
• Enter your phone number in the “Contact Phone” field
• Select "Continue" and then "Confirm" on the next page

RBC Mobile app

• Open or download the app
• Select RBC Direct Investing when you sign in.
• From the More menu, select Transfer Funds and follow the steps to your account.

When will my transfer be processed? 

Real-Time Cash Transfers

Depending on the account type and the time of day of the transfer, cash transfers between your RBC Direct Investing accounts and any of your RBC Royal Bank accounts are done in real-time.

Qualifying account types for real-time transfers are as follows:

• Cash transfers into your RBC Direct Investing account from any RBC Royal Bank account
• Cash transfers out of your RBC Direct Investing account (including Investment, RRSPs, TFSAs and Margin accounts) to any RBC Royal Bank account
• Cash transfers from your RBC Direct Investing account to another RBC Direct Investing account

Note: Online transfers are not permitted between two registered accounts.

Transfer requests that qualify for real-time processing have the following restrictions:

• Transfers into your RBC Direct Investing account will be processed in real-time between the hours of 4:30 a.m. and 7:54 p.m. EST, 7 days a week
• Transfers out of your RBC Direct Investing account and transfers between two RBC Direct Investing accounts will be processed in real-time between 9:00 a.m. and 4:00 p.m. EST, Monday to Friday (excluding holidays)

Transfer requests placed outside of these business hours will be processed during the next real-time window.

Real-time funds transfers can be made to/from any RBC Royal Bank account that you have associated with your Online Banking profile, including your account on file with RBC Direct Investing. If you are acting as a trading authority on the RBC Direct Investing account, your transfer choices will be limited to the RBC Royal Bank account on file.

Large value funds transfers out of your RBC Direct Investing account may be reviewed by RBC Direct Investing staff prior to being processed.

Can I cancel or modify a funds transfer (cash or securities in-kind) request?

1. To reverse a transaction in a non-registered investment account, please complete a new transfer, in reverse order of the original request.
2. You cannot reverse, modify or cancel a transfer to your registered plan. Prior to completing the transfer, you should ensure you have sufficient contribution room. The Canada Revenue Agency (CRA) may impose tax penalties on excess contributions. To withdraw an unused RRSP contribution, refer to the CRA's page "withdrawing unused RRSP contributions" which can be found at www.Canada.ca. Please call us at 1-800-769-2560 or send us a secure message if you have additional questions.

Which bank accounts can I use to complete a funds transfer?

You may use any bank account that you have access to within your RBC Online Banking profile.

If you are a trading authority on the RBC Direct Investing account involved in any funds transfer, only the accounts on file with RBC Direct Investing will be eligible.

When can I transfer funds to my bank account after placing a sell order?

The proceeds of a sell order will be available to transfer on, or after the settlement date. To check the settlement dates for your orders, go to Trade & Transfer on the site menu, find Transactions on the drop down menu and click on View Activity. 

Where can I find my transfer history?

You can find your cash and security transfer history for a period of 15 months under Trade & Transfer on the site menu. Go to Transactions on the drop down menu and click on View Activity. The information includes:

• Date and time your transfer is requested
• Transfer type (Cash, In-kind, Points)
• Order ID
• Amount of transfer and amount currency
• Account funds were transferred from/to and the account’s currency
• Status of your transfer request

Stock Transfers

What is a transfer of stock?

A transfer of stock allows you to transfer shares directly from your personal investment account to your TFSA, RRSP, FHSA or other personal non-registered account, without having to sell the securities (known as an in-kind transfer). Your contribution amount is the market value of your securities at the time of transfer.

Contributing securities to your registered plan may result in a deemed disposition based on any capital gain/loss that may be triggered. When transferring securities between your personal non-registered accounts, if there is no change in ownership, the transfer amount is the book value. If there is a change in ownership, the transfer amount is the market value of the securities at the time of transfer.

Please consult with a professional tax advisor if you require tax advice.

What account types are eligible for online stock transfers?

You can only transfer stocks from personal non-registered investment accounts (cash or margin) to a TFSA, RRSP, FHSA or other personal non-registered account online.

What securities can I transfer between my accounts online?

Eligible securities include exchange traded equities (stocks, ETFs, REITs, rights, warrants).

Hong Kong market (HKD) securities can be transferred from the CAD or USD side of a non-registered account to the CAD or USD side of a registered plan, or between non-registered accounts, in Hong Kong dollars. Foreign currencies are not permitted in registered accounts.

Please contact us at 1-800-769-2560 or send us a secure message for all other security types you’d like to transfer such as options, mutual funds, fixed income or over-the-counter securities.

When can I make a transfer of stock?

Transfers of North American securities is available between 9:30 a.m. ET to 4:00 p.m. ET when these markets are open. The contribution will be reflected in your account within 10 minutes. Related security trades must be settled prior to submitting a request.

Transfers of HKD securities is available from 9:30 am to 12:00 p.m. and from 1:00 p.m. to 4:00 p.m. local time. The transfer will be reflected in your account on the next business day at 4:16 A.M. ET. Related security trades must be settled prior to submitting a request.

What price will be used for online transfer of stocks?

The real-time bid price of securities will be used for in-kind contributions and in-kind transfers between investment accounts where there is a change in ownership. A 30-second timer will be provided to confirm your transaction. After 30 seconds, the quotes will be refreshed. All exchange agreements must be accepted to submit a transfer of Hong Kong Exchange-traded stocks.

For in-kind transfers between investment accounts in the same name (from a sole investment account to a sole investment account), the transfer will be processed at the average book cost.

Can I make U.S. or HKD stock transfers online?

Yes. In-kind contributions can only be done in CAD or USD between matching currencies (e.g. Margin account - CAD to FHSA – CAD, Investment account – USD to RSP – USD). Cross-currency account transfers are not permitted. 

In-Kind Transfers between investment accounts can be done in CAD, USD, or HKD between matching currencies (e.g. Investment account – HKD to investment account - HKD or investment account – CAD to investment account - CAD).

At this time, you will not be able to transfer European stocks online. Please contact us at 1-800-769-2560 or send us a secure message to request these transfers.

What exchange rate is used for U.S. or HKD stock transfers online?

An approximate exchange rate is used to indicate the Canadian equivalent for the contribution value of U.S. or HKD securities until the transfer is processed.

Can I cancel a stock transfer request online?

Stock transfers cannot be cancelled online. In addition, you cannot reverse, modify or cancel a transfer to your registered plan. To cancel a request, please call us at 1-800-769-2560.

How long do stock transfers take?

Online transfer requests of CAD or USD stocks are processed within 10 minutes. Online transfer requests of HKD stocks are processed the next business day at 4:16 A.M. ET.

 

Foreign Exchange

How do I transfer funds between currencies (CAD to USD or USD to CAD)?

You can convert between currencies by completing a funds transfer online. Go to Trade & Transfer on the site menu, scroll down to Transfers and click on Transfer Funds. Use the Transfer Cash tab to make your foreign exchange transaction. Please ensure the accounts you select are in the currencies you wish.

Real time exchange rates are available during foreign exchange hours (approx. 7:45 a.m. to 4:45 p.m. EST on Canadian and US business days).

Foreign exchange requests placed outside these hours or on weekends/holidays will show as pending for the next business day and the displayed foreign exchange is an indication only. The actual conversion rate will be determined once the transaction is processed.  

What currencies can I hold in my RBC Direct Investing account(s)?

In addition to CAD and USD, you can hold and settle in multiple foreign currencies in your non-registered accounts: HKD, GBP, EUR, CHF, SGD, AUD, NZD, JPY.

If you hold any HKD, EUR or GBP in your RBC bank accounts, you can transfer funds to your RBC Direct Investing account(s) in real-time to use for international trading.

Can I cancel or modify a foreign exchange request?

1. Foreign exchange requests processed during foreign exchange hours (approximately 7:45 a.m. to 4:45 p.m. EST on Canadian and US business days) cannot be cancelled or reversed.
2. Foreign exchange requests placed outside these hours or on weekends/holidays will show as pending and can be cancelled.  Go to the Submitted Transactions section on the Activity page to cancel a pending foreign exchange request.
3. Once processed, a transaction cannot be cancelled. 

Contributions

What are the contribution types and how do they apply to transfers?

Contributions to a registered account can be regular (for yourself) or spousal (for your spouse). Depending on the registered account you transfer funds into, different contribution types are available:

Registered Account Type	Contribution Type
Personal or Group RRSP	Regular
Spousal RRSP	Spousal
Co-mingled RRSP	Regular or Spousal

Can I make a cash contribution to my RESP account online?

Yes. When you transfer funds to an RESP account, it is considered a contribution. If there is more than one beneficiary listed for the RESP, the contribution amount will be divided equally among them. If you wish to allocate an RESP contribution differently amongst account beneficiaries, please call us at 1-800-769-2560. 

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Pre-Authorized Contribution (PAC)

The Pre-Authorized Contribution (PAC) plan allows you to make contributions in regular, easy-to-manage installments throughout the year. You can transfer funds from your RBC Royal Bank account and contribute to your registered accounts (RRSP, TFSA or RESP) or your non-registered accounts on a weekly, bi-weekly, monthly or quarterly basis.

Below is a definition of the available frequency options:

• Weekly: Every week (7 days) on the day that you select
• Bi-Weekly: Choose your start date and transfer funds every two weeks
• Monthly: Every month on the day that you select
• Quarterly: Every 3 months on the day that you select

Note: For monthly and quarterly PACs, if the day you select is 31, the processing date for any non-31 day months will be on the month's last day. For example, if the start date is March 31 with a selected frequency of ‘Monthly’, the process date for April would be April 30. Processing dates falling on weekends and holidays will be processed the next business day.

Transfer Rewards 

What is meant by Transfer Rewards?

As an RBC Direct Investing client, if you have a credit card that collects Avion points, you can redeem your points for cash in eligible RBC Direct Investing accounts.

What account types are eligible for Transfer Rewards?

Avion points can be redeemed and deposited to an RBC Direct Investing non-registered account or contributed to an RRSP, TFSA or RESP account.

When will my points be redeemed and deposited to my RBC Direct Investing account?

Transfer of Avion Rewards happens in real-time between the hours of 4:30 a.m. and 7:54 p.m. ET, 7 days a week. The Avion points are debited from the selected rewards account and credited to your RBC Direct Investing account as soon as the transaction is confirmed. Transfer requests placed outside of these business hours are processed during the next real-time window.

In what currency will the redeemed points be deposited?

All transfer of rewards transactions will be deposited to your RBC Direct Investing account in Canadian dollars.

Can I cancel or have a redemption reversed?

Redemptions cannot be cancelled or reversed.

Why is my Avion Rewards points balance different on the Home Page and Transfer Rewards page?

The points balance on the Home Page reflects the previous day’s balance, while the Transfer Rewards page reflects the balance in real-time.