How to Set Up Automatic Transfers to a PC Financial Account

TV shows like Till Debt Do Us Part encourage people to set up automatic deposits to savings accounts. The idea is that if the money is never seen you will spend less of it. You can automatically transfer money every week, every two weeks, once a month, every 3 months, every 6 months or once a year to a PC Financial bank account from another institution to help you save. You can also transfer money within your PC Financial accounts. For example you can transfer from a chequing account to a savings account. Here’s how to make these transfers automatic.


How to Set Up a Regular Automatic Account Transfer for a PC Financial Account

Sign In to your PC Financial Bank Accounts

  1. Go to http://www.pcfinancial.ca/
  2. Make sure Online Banking is selected from the drop down list in the top right corner of the screen, then
    Click the Go button.
  3. In the Card Number field, type the number on your ABM card.
  4. In the Password field, type the password you set up for online banking.
  5. Click on the Sign In button.

To Transfer Automatically from your Bank to PC Financial or Between PCF Accounts

  1. From the link list on the left side of the screen, click on: transfers
  2. From the drop-down list, select from which account to take the money.
    • For example, I selected our PCF chequing account.
    • NOTE: you can see how much money you have in your PCF accounts but not in accounts at another bank or credit union.
  3. From the drop-down list, select to which account the money should be deposited.
    • For example, I selected our PC Financial savings account.
    • Because this is a PC Financial account, it does show the current balance in the account.
  4. In the How much? field, type the amount you want to transfer.
  5. From the drop-down list, select How Often to make the transfer.
    • I selected Every week.
    • Choices include:
      • Once;
      • Every week;
      • Every two weeks;
      • Once a month;
      • Every 3 months;
      • Every 6 months;
      • Once a year.
  6. In the When? Field, select the month and type the day and year.
    Or select the date from a Calendar by clicking on the icon.
  7. Read the warning notes.
    • For example, the account balances shown for the PCF accounts include funds on hold that may not be able to be transferred.
  8. For the Ending when? section, select
    • the date the transfers should stop, or
    • how many transfers should be made before stopping
  9. Click on the continue button.
    • If, like me, you left the date as today’s date, you will get a rejection message that states:
      “The transfer date is invalid. The transfer date must be dated at least one day in the future. Funds transferred to and from another financial institution usually take 1 to 2 business days to process.”
    • Don’t ask why it waited till this point to reject my request. Anyway I changed the date to tomorrow and clicked on the Continue button again.
  10. On the Transfers – before you finish screen, review the details.
    • In particular if you have several bank accounts make sure the correct account numbers are selected.
    • Read the warnings about Holds placed on the incoming funds and delays.

    Click on the set up transfer button.

  11. Copy the Confirmation screen or make a note of the Reference number if desired for future needs.

If you are finished banking

  1. At the top right of the screen, click on the Sign Out button.
  2. Click on the OK button.
  3. Close your browser to increase the security of your banking information.

To Check Your Regular Contribution Instructions for an PC Financial Account

  1. Log in to your PC Financial account online.
  2. To check your upcoming transfers, on the left side of the screen, click on the Transfers link.
  3.  A new sub-list is displayed on the left side.
    Click on the upcoming transfers link.

    • A screen will show a list of scheduled transfers.
    • It tells you which accounts the money is coming from and going to, the amount, the date of the next transfer and any details such as if there are 3 more  transfers scheduled and how often.
    • Review the notes about when transfers begin and what happens if you cancel them.
  4. When you’re finished, for security, click on the Sign Out button, click OK and close your browser session.

You’re done!


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Do you find automatic transfers useful? Do you use them to pay your bills or to save money? Please share your experiences with a comment.

3 thoughts on “How to Set Up Automatic Transfers to a PC Financial Account

  1. Is there a cost associated with transferring from another bank to PC financial?
    I have always done this manually, by writing myself a cheque, but online would be easier.

    • PC Financial does not charge a fee to receive money from another bank into your PC Financial account. For example, if I set up an automatic monthly transfer from my BMO or RBC account into my PC Financial no fee chequing account, PCF does not charge me a fee.

      The BUT is the bank sending the money out may charge a fee. In my example, BMO or RBC might charge me a fee for the withdrawal and transfer of funds from my account.

      Because there are so many types of bank accounts and fee plans at BMO, RBC, National, BNS etc, I can’t actually tell you if the bank you are sending the money out from will charge you a fee. Unfortunately, you’d have to speak to your bank about the specific account you want to send the money out from.

      In our case, CIBC and BMO do not charge us a fee to send money to our PC Financial account using an automated monthly transfer. But we don’t pay anything for withdrawals or debits either. We have very old accounts at those banks with no fees.

      Sorry I can’t be more specific. I’d check with your bank, though. Once it’s set up, it’s nice to move the money automatically. It is a bit slow to get set up, though, because PC Financial needs a signed copy of the Pre-Authorized Debit agreement to link the two accounts. It took about 2 weeks for our accounts to get linked.

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