Canadian High Interest Savings Bank Accounts

Ok, let me explain firt the way I do my tranfer from my main bank account at Desjardins and ICICI, ING and HSBC bank accounts.

Let's say I want to tranfer 5000$ from ICICI to HSBC. What I usually do is at around 10:00 PM when I get back home I do initiate a tranfer from ICICI to my main bank account (desjardins). The tranfer is done the day after. So what I do, I go on HSBC and ask them to tranfer money from my main bank account (Desjardins) and move it to my HSBC savings account but I set it as a future transfer dated for the next day.

But, I've been wondering for a while…. What if ICICI is depositing the money after HSBC request the payment from my financial institution? The money won't be available in my Desjardins account and the transfer can't be authorized, can it be?

Today I've tranfered the last amount I had in my ICICI account and ICICI immediatly debited the money from my HiSave account and I'm recicent to ask HSBC to tranfer the 3000$ immediately of set the tranfer as a future date for tomorrow… What happens if you ask to transfer an amount that is not in your account, you get any fees charged by any banks? How does it work? Anyone got a hint on this?

Thanks

Max