Setting up Bill Payment with Bank

Definition:


Enable client to make deposits via bill payment at their bank.

Process:


Request bill payment code and client ID setup.

Timeline:


1–2 business days

What You Need to Know:


Advisor must provide client name, account number, and confirm bank used.

Cash Withdrawal Request

Definition:


Withdraw cash from client account and transfer to linked bank.

Process:


Submit cash withdrawal form via secure upload.

Timeline:


Submitted by 12 PM EST = same-day processing


After 12 PM = next business day

What You Need to Know:


Must match linked banking information on file.

Cash Contribution Request

Definition:


Transfer funds into client account from linked bank.

Process:


Advisor submits signed contribution form or uploads client instruction.

Timeline:


1–2 business days after receipt

What You Need to Know:


Pre-authorized instructions can be set up for recurring contributions.

Recurring Payment IN Change

Definition:


Modify amount or frequency of pre-authorized contributions (PACs).

Process:


Submit updated form with client signature.

Timeline:


Changes take effect within 3–5 business days

What You Need to Know:


Include void cheque or banking info if changing account details.

Recurring Payment OUT Change

Definition:


Modify or stop pre-authorized withdrawals (SWPs).

Process:


Submit Recurring Payment OUT form with updated details.

Timeline:


3–5 business days

What You Need to Know:


Must align with income account setup or special instructions.

Security/Cash Transfer Between Accounts

Definition:


Move funds or securities between accounts at Croft.

Process:


Submit internal transfer request

Timeline:


1–2 business days

What You Need to Know:


Must be between same registration type unless compliance exception is granted.

Existing Account – Transfer In Request

Definition:


Transfer assets from an external institution to Croft.

Process:


Complete transfer form (ATON or manual), upload to secure folder.

Timeline:


7–15 business days depending on external institution

What You Need to Know:


Check for fees from relinquishing institution and ensure matching account types.