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Email this10:37 pm
March 30, 2022
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Is there any way to get all your money out of Outlook, including my $5 membership fee without having to close the account which costs $10?
10:36 pm
May 27, 2026
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Probably not.
Anyone else having trouble with this?
After careful reflection, hubby and I decided to leave a very small amount in our personal accounts for maturing GIC's, and a small joint account with cheques, so on maturity we could transfer cash to the joint account and write a cheque to ourselves to deposit at our mainstream bank. We used me-to-me transfers every month, they were an essential part of online banking. We used the accounts for savings and big purchases like home renovations, vacations etc which would be a pain in the .. with the new system.
So we're opening a new HISA with me-to-me transfers with the balance. I sure hope other institutions don't phase them out!
10:48 am
July 3, 2026
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Hi All,
Decade++ lurker - first time post. Thank you for all the insight and shared experience over the last many years.
I came on here today to read thoughts on Outlook's abandonment of me2me transfers.
Like others mentioned, I also had been using Outlook and their transfers every month as an essential part of our family's financial set-up...
Somehow, I missed the notification that this change was happening in June, and here I am, beginning of July, and... can't use the bank anymore.
So, open to any recommendations on alternatives, preferably with push & pull transfer options, ideally also supporting joint accounts, no fees and (of course) High(-ish) interest! A tall order nowadays??? 😉
Thanks again to all in this community.
4:13 pm
January 9, 2019
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I was disappointed to see Outlook Financial discontinue Me-to-Me (EFT) transfers.
Interac e-Transfer is great for everyday banking, but it's not a practical replacement for moving large balances because of the transaction limits and the $1.50 sending fee. EFT transfers are generally a much lower-cost way for financial institutions to move larger amounts of money, making the change difficult to understand.
It seems counterproductive to remove an efficient way to fund accounts while continuing to offer competitive GIC rates. Policies like this discourage customers like me from bringing larger deposits to Outlook. As a result, I'll likely have to close my account because the new system simply isn't practical for my needs.
I hope Outlook will reconsider and restore EFT transfers. They were a much more practical solution for customers moving significant amounts of money.
