CanadianCapitalist· Premium Member
1. Yes. This is normal. When you do a purchase, the deposit is pulled automatically from the checking account.If anyone has experience with these accounts I'd love to know:
- We took a look at the account and noticed that we can't find the linked bank account info from EasyWeb. Is this normal?
- How do you fund the account? It seems like when you make a purchase, it will just pull cash from the linked bank account. Is that right?
- If the above is correct, when you redeem units of a fund, does it deposit the proceeds into your linked account? Doesn't this pose a problem for RRSP accounts? Or do you redeem by switching into a money market fund? Is this done automatically?
2. See above. Click "purchase" to fund the account.
3. I've never done a redeem but you can switch out of one fund into another. I don't see this as a problem as you can switch into a money market account.