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

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

Applies To:

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

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

When to Submit an EFT Out Request for an RRSP

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

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

  • The client is aware of:

    • Withholding taxes that will apply to the withdrawal.

    • Impact of the withdrawal on RRSP contribution room.

    • Potential impact on their taxable income for the year.

How to Submit an EFT Out Request for an RRSP

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

  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 RRSP Account


  6. Select an Offset Account (if applicable)


  7. Select the Bank Account


  8. Specify the Withdrawal Details:
    • Specify whether the withdrawal is Full or Partial
    • Choose the Source of Funds: Assigned Optimize Model or All

    • Enter the Gross Withdrawal Amount
    • Specify whether the Administrative Fee will be Included or Excluded.


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

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.