Debit balance in Cash accounts

As per government regulations, you’re not allowed to carry negative cash balances in their Cash accounts. For that reason, we regularly monitor our customers’ accounts to comply with those regulations.

If you have a debit balance in your cash account, you will receive an email from us requesting that you cover the amount within a certain time frame on a best-efforts basis. In some cases, we may be required to sell positions from your account before the due date without letting you know in advance.

Typically, debit balances occur as a result of inactivity fees, currency conversion spreads, data fees, or due to mandatory payments made from your Cash account to you. For more information:

1. Log in to Questrade
2. Go to your Summary page, and click on See all balances tab.

To cover your debit balance, you can do one of the following:

• Deposit the amount due into your account
• You can make an instant deposit to your Questrade account using your Visa debit card or Interac online. Log in to your Questrade account to check if your bank offers this service
• Alternatively, you can make an online bill payment from your bank payable to Questrade. The funds will typically appear in the account within 1–3 business days
• Transfer funds from a different Questrade account into the one with the debit balance

• Close enough positions to cover the debit balance
• To make sure you’ve closed enough positions, check your combined cash balance that appears in the trading platform—it must show a positive number

When making a deposit to a Questrade trading account, your bank account (where the money is coming from) and the Questrade account (where the money is going to) must have identical names. For example, if your name at the bank is “James Smith”, your Questrade trading account must be identical to that for us to accept the deposit

Note: The information in this blog is for educational purposes only and should not be used or construed as financial or investment advice by any individual. Information obtained from third parties is believed to be reliable, but no representations or warranty, expressed or implied, is made by Questrade, Inc., its affiliates or any other person to its accuracy.