Funding your Nest Wealth account is easy

By Nest Wealth on 25/06/2017Article 4 Minute Read

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Funding your Nest Wealth account is easy

You can find instructions for each of the different ways you might like to fund your account here.

1.Transfer funds directly from your bank account with one easy click! 

2.Making a one time cash deposit through Bill Pay. 

3.Transferring funds from another brokerage account.

Transfer funds directly from your bank account with one easy click!

  • Login to your Nest Wealth account and go to your transfers page.
  • Look for the Nest Wealth account you wish to transfer funds to, and click “Fund my account”
  • Select the account number you want to transfer funds from (if your bank account doesn’t appear in this list, you can add a new account).
  • Click “Next”.
  • Enter the amount to be transferred, start date (the date you want those funds transferred), and frequency.
  • Click “Submit”, and you’re all done!

Making a one time cash deposit through Bill Pay

The easiest way to do a transfer into your account is to do it through your online bank. This can be done without completing any paperwork, and can be used immediately.

Bill Pay to your Nest Wealth account is currently available from chequing accounts at all major banks in Canada. Once you set up your Nest Wealth account as a payee in online banking, you can come back to make payments with just a few clicks at any time from your bank’s online portal.

  1. The first thing you need to know is the number of your Nest Wealth account. This is a seven digit number, and can be found under “Transfers” after you login to https://my.nestwealth.com. You will have a different seven digit code for each account type (e.g. Cash, RRSP, TFSA or RESP). Even if the first six digits of all of your accounts are identical, you must enter the full seven digits to complete transfers. You can see where to find your account numbers in the diagram below:
  2. Next, add the NBIN account to which you wish to transfer to Bill Pay in your online banking portal. The Payee should be “NBIN”, and the account number should be the 7 digit account code you found in the first step. If you wish to transfer to multiple accounts (Cash, RRSP, TFSA), you must create a separate Bill Pay entry for each account type.
  3.  You may now send funds to fund your Nest Wealth account at any time from your online banking portal. Funding requests sent through Bill Pay are usually available for us to invest within 24 hours, but in some cases may take up to 48.
  4. Please email us at [email protected] to let us know that you’ve sent a transfer to your account.

Transferring funds from another brokerage account.

In order to transfer funds to your Nest Wealth account from another brokerage account, NBIN requires a transfer form. They use this transfer form to make a request to the institution at which they currently sit, to have them transferred to your Nest Wealth account.

There are separate forms depending on whether the funds are in an unregistered account (a cash or margin account) or a registered account (such as an RRSP, RESP, RIF, LIF, LIRA or TFSA). You will need a separate transfer form for each type of account that you wish to transfer. In the case of a registered transfer, your registration will carry from your existing institution to Nest Wealth; there will be no tax implications for you.

Download Non-Registered Account Transfer Form     

Download Registered Account Transfer Form

Download the appropriate form for either Registered or Non-Registered accounts from the links above. Please print out, complete, and sign the form(s). Please ensure that you have only selected “Cash Only” as the transfer request type; Nest Wealth does not accept “In Kind” transfers.

To complete an account transfer request, NBIN requires a copy of your latest account statement at the institution where the funds are held. (this is to insure we receive what you have requested in full)

Scan and email your completed form and account statement to [email protected]. If you don’t have a scanner, please send a clear, full-page photograph of each page.

While this is the best way to transfer registered accounts to Nest Wealth, the transfer process between financial institutions can take some time. Typical transfer times are between 12 and 25 days, as the institution that currently holds the funds is required to release them to NBIN and Nest Wealth.