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Withdraw by Electronic Funds Transfer (EFT Out) for an FHSA

Learn how to submit a ticket to withdraw funds from a client's FHSA at Optimize by Electronic Funds Transfer (EFT).

Applies To:

  • All Portfolio Managers, Advisors, Wealth Planners, and support staff.
  • Eligible account types: FHSA

You can submit an EFT Out request from a client’s CRM Contact Record to electronically withdraw funds from a client’s FHSA at Optimize. Use the instructions below to ensure the account is eligible, the correct banking details are on file, and that the client understands the withdrawal type and tax implications.

When to Submit an EFT Out Request for an FHSA

  • A client wishes to withdraw funds from their FHSA to an external bank account.

  • The client has an authorized bank account on file in the same currency as the FHSA.

  • The client confirms whether the withdrawal is:

    • A qualifying withdrawal for the purchase of a first home (tax-free if eligible).

    • A non-qualifying withdrawal, subject to withholding tax and potential inclusion in income.

How to Submit an EFT Out Request for an FHSA

To submit an EFT Out request, use the Service Extension on the client’s CRM Contact Record. Follow the steps below to complete the withdrawal accurately.

  1. Navigate to the Client’s CRM Contact Record
  2. Go to the Servicing Tab
  3. Select Cash and Security Management → Withdraw Funds


  4. Select "EFT Out" as your request type

  5. Select the FHSA Account


  6. Select an Offset Account (if applicable)


  7. Select the Bank Account


  8. Specify the Withdrawal Details:
    • Confirm the FHSA type (Qualified, Designated and Taxable withdrawal)
    • Specify whether the withdrawal is Full or Partial
    • Choose the Source of Funds: Assigned Optimize Model or All

  9. When selecting a partial amount, enter the specified amount and include a signed FHSA Form RC725 E with the submission.

  10. Review & Submit
    • Once you confirm the details, click Submit to create the service request ticket.

Important: The RC-725-E form required to process the qualified withdrawal for this request MUST be Wet Signed by the client. Electronically signed documents will not be accepted.

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 Funds Pipeline, where you can track the progress and confirm when the request is completed.

Processing Times

  • Typically, the process takes 7–11 or 1–2 business days, depending on the availability of sufficient cash in the account, once the ticket has been submitted and any necessary review is completed.