New Features from Questrade

I use Questrade as my broker. They sent me an e-mail yesterday about the upcoming new services, Pre-authorized deposits and eSignatures.

With the pre-authorized deposits, you will be able to set up recurring and one time transfers into your Questrade account. You can fund both US and Canadian dollar account online. This is a big step forward for Questrade. Before, to fund your US dollar account, the only way to do it is to send Questrade a cheque in US dollar. The whole process could take up to 7-8 business days. With the new service, the process time to fund your US dollar account will be much shorter.
The second new service is the eSignatures. With eSignatures, new account applications can be opened and funded immediately online without having to print and mail any documentation. I remembered when I opened my Questrade account, I have to sign and mail about 5 pages documentation to them along with the photocopy of my ID. eSignatures will simplify the process and make it much easier and quicker to open a new account.

On top of the new services, Questrade is monitoring government proceedings of TFSA closely and plans to offer TFSAs when they become available.