We're happy that you're considering transferring your funds to OneVest! This process allows you to move your registered account (e.g., RRSP, TFSA) funds to OneVest without using your contribution room. If you're transferring funds from a non-registered account (sometimes called a "Personal" or "Cash" account), it’s usually simpler to initiate this as a regular investment contribution.
If you have an existing registered account, here is how to initiate the transfer.
Step #1: Complete Onboarding
Before initiating the transfer, you’ll need to create your profile and complete the onboarding process with OneVest.
This helps us ensure that your funds are properly directed to your OneVest portfolio.
Step #2: Make the Request
After completing your profile, you can make an external transfer request by following these steps:
1. On your OneVest homepage, click Deposit.
2. For the question What type of deposit would you like to make? Choose External Account.
3. Fill in the details in regards to your transfer.
- To: The Goal and Portfolio associated with your OneVest account.
- Details about your current financial institution and account. You can get this info by reaching out to your institution's customer service or checking your latest statement. Make sure the information matches exactly.
- Financial Institution
- Account Number
- Account Type
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Transfer Type: Currently, OneVest only supports all-cash transfers, meaning:
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- Full Transfer - OneVest will instruct the relinquishing institution to liquidate the account and send the cash to OneVest. In some cases (e.g., transferring a group RRSP), the relinquishing institution may close the account and apply associated fees.
- Partial Transfer - OneVest will send your relinquishing institution instructions to transfer cash up to your estimated amount. If the available cash is less than expected, the relinquishing institution may sell assets in the account to make up the difference. If you think your available cash might be lower than your estimated amount, it is advisable to first liquidate any assets yourself to ensure you can control which assets are sold.
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- Amount
4. Click Continue.
5. Review the details of the deposit. Once you have, click Create Deposit.
Step #3: Waiting is the Hardest Part
Once OneVest receives your request, OneVest will coordinate with your external institution. Your funds will liquidate from the transferring institution and should appear in your OneVest account within 8-12 business days. Depending on your transferring institution, the entire process can take up to 20 business days, although transfers typically complete faster.
Once the funds are received, OneVest will automatically invest them on your behalf, and you’ll see the updates reflected in your portfolio shortly thereafter.
If you have any questions about the transfer process or need assistance, you can reach out to OneVest's support team.
Need more information?
If you have any further questions or need assistance, please reach out to OneVest's support team directly. While you may initially contact Manzil Invest, any registrable activities such as account opening, account transfers, or money movement will be handled by OneVest. Our team at Manzil will triage your inquiry to the appropriate channel at OneVest.
Frequently Asked Questions
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Can I transfer investments In-Kind?
Not at this time. OneVest currently only supports in-cash transfers. -
Can I transfer from other currencies?
Transfers must be in Canadian Dollars (CAD). If you have other currencies (e.g., USD), you'll need to convert them to CAD before initiating the transfer. -
Can you expedite my transfer?
While most transfers complete within the lower range of the estimated time frame, you can always contact OneVest to check the status of your transfer. -
What’s the difference between an external transfer and a regular EFT deposit?
External transfers allow you to move registered assets without using your contribution room. These transfers take longer and may incur fees, but are typically used for larger amounts. Regular EFT deposits use your contribution room but process faster and are fee-free. If you request an external transfer for a smaller amount, OneVest may suggest a regular EFT deposit instead.
Disclaimer:
This document is intended for informational purposes only, is for Canadian residents, and does not constitute any financial, legal, tax, investment, or other advice. The information provided is based on the details you supply and should not be construed as an offer to buy or sell any investment products or services.
Transfers of assets to OneVest are subject to approval, regulatory requirements, and applicable fees. Always ensure you consult with OneVest's support team for assistance with registrable activities such as account opening, money transfers, and other portfolio management inquiries.
Manzil Invest is a strategic partnership between Manzil and OneVest Management Inc (“OneVest”). OneVest offers wealth management products and services to Manzil customers. OneVest Management Inc. is a registered Portfolio Manager in each of the provinces and territories of Canada and as an Investment Fund Manager in the provinces of Alberta, Ontario, Newfoundland and Labrador, and Quebec. Assets in your OneVest accounts are held with various custodians, each registered as an investment dealer with the applicable securities regulators. All custodians are members of the Canadian Investment Regulatory Organization (“CIRO”) and the Canadian Investor Protection Fund (CIPF). OneVest Management Inc. is a wholly-owned subsidiary of OneVest Technologies Inc. All trademarks are the property of their respective owners. OneVest will determine what investments are suitable for you.