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Email this8:55 am
January 10, 2017
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So it seems it can be done under certain circumstances. Anyone know more about when it would be allowed?
AI said: "For "Me-to-Me" Transfers (In-Branch Only)
RBC does not allow you to link a CIBC or TD account yourself through the app for general moving of money. However, you can go into a branch to set up a Me-to-Me Transfer Agreement."
9:22 am
April 21, 2022
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None.
9:44 am
April 6, 2013
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The AI is wrong.
Royal Bank and TD only provide Customer Automatic Fund Transfers (CAFT) to business banking clients. No CAFT for personal banking clients.
10:06 am
January 10, 2017
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I pushed the AI. Now get this:
At RBC, the specific "Me-to-Me Transfer Agreement" for linking external Canadian accounts (like CIBC or TD) is primarily a feature of Business Banking.
..but also got...
How to Move Money (Personal Banking)
Manual In-Branch (PAD): You can set up a Pre-Authorized Debit (Save-Matic) in-branch to pull money from TD/CIBC into RBC, but you cannot typically use this to push money out from the RBC app to those banks.
So seems possible in a limited way.
10:35 am
April 6, 2013
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There's no indication that the Save-Matic feature can take money from a non-RBC account. I checked and the RBC Online Banking UI to set up Save-Matic is no longer there.
Ask the AI to provide the RBC web page that says one can use Save-Matic to regularly collect funds from a non RBC account.
AI's are not real intelligence. That's why they are called "artificial" intelligence.
They regularly fabricate answers that are wrong. They cite court decisions that don't exist. One friend works in software development. He says AI's regularly give solutions involving operating system commands and programming API's that don't exist.
11:28 am
December 12, 2009
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If you have a discount brokerage account through any one of the Big Six, you can set up an EFT link on your brokerage account, pull money in from your external bank account (or push money out via online bill payment), and then perform an immediate same day transfer to your Big Six bank account. 
Increasingly, though, some credit unions like Coast Capital Savings and Access are doing away with EFT bank-to-bank transfers. Coast added the ability to pull money in, but you cannot push money out. These are not consumer-focused FIs.
3:55 pm
January 10, 2017
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Norman1 said
There's no indication that the Save-Matic feature can take money from a non-RBC account. I checked and the RBC Online Banking UI to set up Save-Matic is no longer there.
Here is the link
https://www.rbcroyalbank.com/i.....money.html
This is what it says:
"Put your savings on auto-pilot and make it part of your routine by setting up regular, automatic contributions into your account. By saving consistently (weekly, monthly, etc.) your money could grow faster over time.
How it works
You decide how much to save and how often—weekly, bi-weekly, monthly—it’s up to you
Contributions are automatically debited from your bank account (at RBC or another financial institution)
You can change how much you want to save, how often you contribute, and stop or pause your contributions at any time."
...so there is a way after all.
This is one way only. So do it at the other banks as well and you have bi-directional transfers!
5:57 pm
April 6, 2013
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That isn't Save-Matic. I tried it and it doesn't work:
Manage Pre-Authorized Contributions
You need an eligible investment account to set up Pre-Authorized Contributions. Please call us at 1-800-… to speak with a representative or visit a branch near you.
That is for periodic investments to an RBC investment account for mutual funds:
Add Money to Your Account
Putting Money in Your Investment Account is Quick and Easy
…
Save Automatically with Pre-Authorized Contributions
- You decide how much to save and how often—weekly, bi-weekly, monthly—it’s up to you
- Contributions are automatically debited from your bank account (at RBC or another financial institution)
- You can change how much you want to save, how often you contribute, and stop or pause your contributions at any time
…
Financial planning services and investment advice are provided by Royal Mutual Funds Inc. (RMFI). RMFI, RBC Global Asset Management Inc., Royal Bank of Canada, Royal Trust Corporation of Canada and The Royal Trust Company are separate corporate entities which are affiliated. RMFI is licensed as a financial services firm in the province of Quebec.
RBC Funds are offered by RBC Global Asset Management Inc. and sold by Royal Mutual Funds Inc. Royal Mutual Funds Inc., Royal Bank of Canada, RBC Global Asset Management Inc., Royal Trust Company and The Royal Trust Corporation of Canada are separate corporate entities that are affiliated. Royal Mutual Funds Inc. is licensed as a financial services firm in the province of Quebec.
…
10:02 am
March 17, 2018
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doug said
If you have a discount brokerage account through any one of the Big Six, you can set up an EFT link on your brokerage account, pull money in from your external bank account (or push money out via online bill payment), and then perform an immediate same day transfer to your Big Six bank account.Increasingly, though, some credit unions like Coast Capital Savings and Access are doing away with EFT bank-to-bank transfers. Coast added the ability to pull money in, but you cannot push money out. These are not consumer-focused FIs.
If you have both a Hubert and Access account you can transfer from Access to hubert online and call in to transfer out from your Hubert account . (Assuming you have Hubert external linkages set up ). 
2:25 pm
December 12, 2009
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Briguy said
If you have both a Hubert and Access account you can transfer from Access to hubert online and call in to transfer out from your Hubert account . (Assuming you have Hubert external linkages set up ).
I was under the understanding the banking system migration did not preserve those links? In any case, that it is a huge inconvenience. Hubert is a shell of its former self, has a new, awful onboarding experience requiring a mobile phone number and a photo ID/selfie, despite this being a non-preferred method of identity validation according to FINTRAC, and they won't even let me redeem my surplus shares, saying they have a plan to redeem everyone's shares, but won't say when. I plan to write to the Board of Directors and request special dispensation to redeem them. 
Cheers,
Doug
6:06 pm
March 15, 2019
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I find that the Big 5 banks have so many branches, one can just walk (weather permitting) in to one of their branches and drop off a cheque for deposit.
That was how we did banking before former VP Al Gore invented the Internet and it still works fine.
2:04 am
November 18, 2017
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Al Gore did NOT invent the internet! It had already existed for decades. He just ruined it by privatizing it (selling the backbone off to AOL) and opening it to commercialization. That was the First Great Enshittification, launching the Age of Spam and then the end of customer service.
RetirEd
11:02 am
March 17, 2018
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doug said
I was under the understanding the banking system migration did not preserve those links? In any case, that it is a huge inconvenience. Hubert is a shell of its former self, has a new, awful onboarding experience requiring a mobile phone number and a photo ID/selfie, despite this being a non-preferred method of identity validation according to FINTRAC, and they won't even let me redeem my surplus shares, saying they have a plan to redeem everyone's shares, but won't say when. I plan to write to the Board of Directors and request special dispensation to redeem them.
Cheers,
Doug
The old Hubert external links are still active, but you have to call in to do the transfer, and they will ask you to confirm the account number of the FI you are transferring to. It's not such an inconvenience since wait times are usually pretty quick. One advantage of having both Hubert and Access accounts is that it gives you access to a debit card ( just transfer money online from Hubert to your Access account ).
