Okay just a quickie update on how long it actually takes for a USD transfer to go through. There’s been so many nebulous answers out there, and the Questrade site itself makes it sound like it’ll happen in an instant.. so I sought to test it out myself.
I saw the magic number that I deposited from my BMO USD account in my Questrade account yesterday (January 19). I sent my “e-signature” off January 11 (so give two or three days for our lovely Canadian Postal system to get it across the country); It took about 7 days for the transfer to go through (9 including all the mailing back and forth)
That’s pretty fast. Some people say it can take up to 20 business days.
I know I know, still not that fast. With BMO Investorline, you can just drop off some cashola at any BMO branch and have it transferred into your BMO Investorline account in a snap.
Okay enough about Questrade- I’ll talk about what I bought in my TFSA so far tomorrow.
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