Canada Post strike

You may be aware that Canada Post workers are currently on strike, which is affecting mail delivery across Canada. This disruption may affect the delivery of cheques, bank drafts, and certified cheques, potentially impacting deposits, withdrawals, and transfers.

Until the labour disruption is resolved, we encourage you to use electronic methods for making deposits and withdrawals, and to upload and download documents where possible to ensure timely processing of your requests.

Electronic payment methods available include instant deposits, online bill payments, and pre-authorized deposits.

In anticipation of the strike, we mailed November 15th RRIF/LIF payments on November 12th, 2024.

If the strike continues and you're concerned about receiving future payments on time, we encourage you to switch to electronic funds transfer (EFT). This will ensure your payments are deposited directly into your bank account, avoiding any delays caused by mail disruptions.

To set up EFT for your RRIF/LIF payments, please follow these simple steps:

1. Contact us: Call us at 1-888-783-7866, chat or email us at support@questrade.com.
2. Provide your banking information: Have your bank account details ready (institution number, transit number, account number). We'll confirm your request and set up EFT for your future payments.

Due to the strike, incoming transfers to Questrade may be delayed as other financial institutions may be holding your transfer cheque until the strike is over.

We are working with these institutions to encourage them to use electronic transfers if possible, and to send transfer cheques by courier if necessary.

We appreciate your understanding and patience as we navigate this situation together.

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.