Setting up a preauthorized contribution from your account can be a very effective way to save money for a large purchase, your rainy day fund, or to contribute to your registered savings plans.
You can set up preauthorized contributions for your accounts from within Online Banking in 4 easy steps.
Log in to Online Banking and select Transfers from the left side menu.
Select Set up Transfer.
Select the account you would like to transfer the funds from, the amount of the transfer, the type of transfer (recurring for preauthorized regular contributions), and indicate that you would like to transfer the money to one of your accounts. Click Continue.
On the following screen, select the account you would like to transfer the funds to, the date of the transfer, and the frequency. Click Continue to confirm.
So for example, you could schedule a transfer on the last day of each month from your operating account (checking) to your savings account in the amount of $100.
If you don’t have access to Online or Mobile Banking, we can assist you with the transfer. We will also need to help you with automatic transfers to your registered plans and investment plans.