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How to Send a Cheque to a Third Party

Learn how to submit a ticket to send a cheque to a third party

Applies To:

All Portfolio Managers, Advisors, Wealth Planners, and support staff.

Eligible account types: Cash, RRSP, Spousal RSP, TFSA, RESP, or FHSA, RDSP

You can submit a send cheque to third party request from a client’s CRM Contact Record to send funds to the third party on file. Use the instructions below to ensure the address is current, the correct accounts are selected, and that you’ve accounted for any withdrawal restrictions.

When to Submit a send cheque to third party request

  • The client’s authorization to process the withdrawal.
  • A signed Letter of Direction (LOD) from the client is on file.
  • The correct source account is selected.
  • A clear specification of whether the withdrawal is full or partial.
  • Confirmation of whether the source of funds is 'Model' or 'All'.

How to Submit a send cheque to address request

To submit a send cheque to third party request, you’ll use the Service Extension on the client’s CRM Contact Record. For most account types, the general instructions below apply. If you’re withdrawing from an RESP see the specific account instructions that follow.

How to Submit a send cheque to third party request (General)

  1. Search for the client’s contact in the HubSpot Search bar and open the client’s CRM Contact record page.

  2. Navigate to the Servicing (Service Request) tab in the middle panel of the contact record.

  3. Click on Cash and Security Management → Withdraw Funds.

  4. Select Send to third party.

  5. Select the From Account.

  6. Specify the Amount Type:

    • Full or Partial

  7. Specify the Source of Funds:

    • Model or All

  8. Specify the withdrawal amount.

  9. Attach the signed Letter of Direction (LOD).

  10. Review the details carefully, then click Submit. 

Tip: To prevent delays, always ensure the correct and signed LOD is attached before submitting.

How to Submit a send cheque to third party request (RESP)

  1. Search for the client’s contact in the HubSpot Search bar and open the client’s CRM Contact record page.

  2. Navigate to the Servicing (Service Request) tab in the middle panel of the contact record.

  3. Click on Cash and Security Management → Withdraw Funds.

  4. Select the From Account (Select the RESP).

  5. Specify the Amount Type and Source of Funds

    • Specify the following:

      • Beneficiary
      • Institution Type
      • Institution Name
      • Start Date, Year Length, Program Length, Program Year
      • EAP Amount, PSE Amount
      • Whether to use PSE to cover insufficient EAP amounts
      • Check relevant boxes if the request is an AIP or Contribution Withdrawal
      • Attach the Proof of Enrollment (POE)

    • Review the details carefully, then click Submit.

    Please Note: Before submitting your RESP withdrawal request, please ensure you have checked the latest account breakdown. This breakdown shows the amounts of income and capital available in the account. If your breakdown is more than 30 days old, we recommend requesting an updated breakdown before proceeding. Submitting a withdrawal request without verifying the notional information can result in delays.

    After Submitting the Request

    A new service request ticket will be created. You can locate it:

    • In the Right-Side Panel of the client's CRM Contact Record under Tickets.
    • In the withdraw Pipeline, where you can track the progress and confirm when the request is completed.

    Processing Timelines

    • Cash withdrawals: Typically 7-11 business days after the ticket has been submitted and completed any applicable review.