Withdrawing from an investment account (Withdraw requests)

Learn about the four methods of withdrawing from an investment account.

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

You can submit a request to withdraw funds from a client's investment account by navigating to the Servicing (Service Request) extension, selecting Cash and Security Management, and then by selecting Withdraw Funds.

The Withdraw Funds request section has four Request Types that you can choose from when withdrawing funds from a client's investment accounts: EFT-out, Withdraw to a related investment account, Send Cheque to Address, and Send Cheque to Third Party.

EFT-Out

Withdrawals can be made by way of Electronic Fund Transfer (EFT) for most account types. In order to submit a EFT Out request, the account being processed must have a bank account authorized to process EFT Out requests on the client's behalf. Registered Account withdrawals require an offset account, thus the offset account must have authorized banking as well.

In the absence of an authorized bank account, you can submit a request to Add Banking to this account.

EFT Out request can be processed for most account types, however it is not an option for a select few accounts. Below is a list of available account types that you can submit an EFT In request for:

• Non-Registered Accounts: Cash and Margin
• Registered Accounts: RRSP, Spousal RSP, TFSA, FHSA, RESP, RDSP, LIF, RIF & LIRA/LRSP.

Learn about how to submit an EFT Out request.

Withdraw to a related investment account

Registered accounts at Optimize can withdraw funds to related non-registered accounts. This type of request does not require the account to have authorized banking. This request type can only be done in-cash or In-Kind. In kind withdrawals are limited to TFSA's only. Below is a list of accounts that can be used to withdraw funds In-Cash

• From Accounts: RRSP, Spousal RSP, TFSA, FHSA, RESP, RDSP, LIF, RIF & LIRA/LRSP. 
• Receiving Accounts: Cash, Margin.

Learn about how to submit a withdrawal to a related investment account

Withdrawing by cheque to the client

Withdrawals can be made by way of Sending Cheque to the Client (Send cheque to address) for most account types. When submitting this request, the cheque will be mailed to the address linked to the account. This type of withdrawal does not require an offset account. 

Learn about how to submit a Withdrawal by cheque to the client.

Withdrawing by cheque to a third-party 

Withdrawals can be made by way of Sending Cheque to a third-party (Send cheque to third party) for most account types. When submitting this request, the cheque will be mailed to the address listed in the Letter of Direction. This type of withdrawal does not require an offset account. 

When requesting a withdrawal as a cheque to a third party, you must ensure you have a signed Letter of Direction (LOD). Please ensure that the form has been signed by the client.

Learn about how to submit a Withdrawal by cheque to a third-party