Friday, November 11, 2011

How to withdraw from Questrade

myquestrade.com > login > my funds > withdraw funds > [ammount-to-withdraw] ($250 is minimum to keep account in good standing) > select account (there was only the one) > select EFT > your account will be radio-button1, there will be another radio buttion telling you to fax void check or pad to setup another bank account, so even if someone knows your password it's not an easy matter of transfering your funds to just any bank > no fund conversion (I guess this means CAD/USD) > submit > confirm

It warns that: "If you do not have sufficient funds in your "E" account...". I confirmd that as long as your cash balance is $250 greater than the withdrawl ammount (in the correct currency) then it is no problem. He said E&F are just internal methods of classifying accounts. Note that your cash balance is updated at end of day, so it doesn't reflect today's trades. Also, you can see your request in > my funds > withdraw funds > request status (sidebar).

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