Send large amounts via wire transfers on Web & Android.

May 16, 2020
Michelle Vacarciuc
May 16, 2020
Michelle Vacarciuc
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You can now fund your Newton account with Wire Transfers. Send amounts ranging from $10k to $1MM with no fees (except for what your bank charges).

Funds usually arrive in one business day and clear immediately on arrival. No 4-day hold!

How to initiate a wire transfer

1. Go to the Deposit view and tap Make a wire transfer.

2. Enter the amount you’re planning to send and tap Review transfer details.

3. Write down your 6-character reference code. Failing to include this reference code may significantly delay your transfer’s processing.

4. Use the bank details to initiate a transfer from your online banking or at a local bank branch.

Important details

If you’re funding:

  • $10,000 CAD or more, wire transfers are free.
  • Less than $10,000 CAD, there is a $50 CAD processing fee. Pre-authorized payments are the preferred method for smaller transfers.

If you’re withdrawing:

  • More than $10,000 CAD, the withdrawal may, in some cases, be sent via wire transfer.

If you’re using pre-authorized debit:

  • Funding requests via pre-authorized debit are now capped at $10,000 CAD per request. Larger amounts should be sent via wire transfers.

* Wire transfers are currently only available on Web and Android. An iOS app update is coming later this week.

Want to help us shape the products we build? We're always looking for valuable insight and feedback from our users. If you have features you'd like to see or are interested in joing our user research group, email support@newton.co

Michelle Vacarciuc

My work explores the relationship between postmodern discourse and UFO sightings. With influences as diverse as Rousseau and Francis Bacon, new insights are distilled from both traditional and modern dialogues.

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