How to Cancel a PC Financial Automatic Savings Transfer

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When I first opened our PC Financial no fee chequing account they were offering a high “bonus” rate of interest on new deposits. Of course that only lasted a few months. Now that the promotion is over, I want to cancel our PC Financial automatic savings transfer from our chequing account at another bank to our savings account. Here’s how to stop the transfers.

Stopping an Automatic Transfer to Your PC Financial Account

  1. Sign in to your PC Financial account.
  2. From the list of links on the left side of the screen, select: transfers
  3. From the new list under transfers, select: upcoming transfers
  4. A list of your automatic transfers will be displayed.
    1. Click to select the radio button beside the automatic transfer that you wish to cancel.
    2. Click on the continue button.
  5. Review the details of the transfer you are cancelling. Read the informational messages about when a transfer will be effective. If the information is acceptable, click on the cancel selected transfer button.
    For example, PCF says

    • Cancelling one upcoming transfer of a series will cancel all of the remaining scheduled transfers. You will have to set up a new automatic transfer if you want to cancel just one transaction and then start transferring again.
    • because transfers begin at least one business day before the date the money moves to your account, you cannot cancel a transfer that is already partially in progress using this method
    • if your money is on hold or if there isn’t enough money in your account, the transfer will not proceed
  6. If desired, make a note of the Reference number for the cancellation.
  7. If you are finished banking, sign out of your account. For increased security, close your browser session.

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Do you use automatic savings transfers to simplify your investing goals? Do you find you frequently have to cancel the transfers due to changing circumstances? Please share your experiences with a comment.