Well, it’s RRSP season again and although I’ve swum past all the hooks and jigs trying to catch or snag me into their high-fee mutual-fund traps, I do still want to make a contribution to an RRSP before the end of February. I intend to avoid any high pressure sales tactics, though, by simply making a transfer from my linked bank account into the RRSP account at CIBC Investor’s Edge.

Transferring New Money Into Your CIBC Investor’s Edge RRSP from a Linked Bank Account

1. Sign in to your Investor’s Edge RRSP account.
2. From the list of choices on the left side of the screen, click on Cash Transfers.

Cash Transfers Step 1 Page

1. Check that the correct account from which to get the money is displayed in the From Account: field. If necessary, choose the correct account.
2. From the drop-down list beside the To Account: field, select your RRSP account.
3. In the Amount $ text field, type how much you want to transfer into your RRSP to make your RRSP contribution.
4. If desired, select any future date from the drop down lists for Process Date:
5. Select the correct type of contribution from the drop-down list in the Registered Contribution Type: field. Choices include: Regular and Fee Payment.
6. Read the Please Note: information about when transfers will take place.
7. Click on the Next button.

Cash Transfers Step 2 Page

1. Review the information to ensure it is correct.
2. If it’s ok, type your password in the Trading Password: field.
3. Click on the Submit Transfer button.

Cash Transfers Step 3 Page

1. Read the information confirming your contribution.
2. Make a copy of the Order Tracking Number in case of future concerns. You can also click on the View Order Status button if desired.
3. When you are finished using your CIBC Investor’s Edge account, click on the Sign Off button.
4. Clear your cache and close your browser.

It’s all good!

UPDATE: I made the transfer request on a business day before 5 p.m. ET. The money was in the cash balance of my Investor’s Edge RRSP account the next morning, ready to buy more shares. Excellent!

UPDATE: I made the contribution on Wednesday February 17, 2016 and received the income tax receipt in the mail on Wednesday February 24, 2016. Also excellent!

Related Reading

• How to Contribute to Your RBC Direct Investing RRSP
• How to Contribute to Your BMO InvestorLine RESP by Transferring from a Linked Account

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