PACs and SWPs

PAC – Pre-Authorized Chequing

This is an easy and convenient way for your clients to make ongoing RRSP contributions. They simply decide how much and how often to contribute – weekly, bi-weekly, semi-monthly or monthly. PACs can also be set up to pay trustee fees, or to dollar-cost-average funds in an Open Account. To arrange for a new PAC – or to make a change to an existing one – you’ll need a Non-Financial Account Changes form. Complete the appropriate section(s) and fax the form to our Processing Department at 1.866.941.7711.  Don’t forget to include a void cheque from your client’s personal account. Please remember that all PAC requests must be received by B2B Trust no less than six business days prior to the initial PAC date requested.

SWP – Systematic Withdrawal Plan 

Depending on the product, B2B Trust can process various types of systematic withdrawals for both Open and RRIF accounts.

Open Accounts: for our non-registered Open Accounts, we will instruct the mutual fund company to set up the SWP. Redemptions can be automatically scheduled by simply informing B2B Trust as to the date and frequency. Send us instructions on a Financial Account Changes form and indicate "set up as SWP" in the Special Instructions section.

Self-Directed RRIFs: to fund your client’s self-directed RRIF payments, we can arrange for a systematic withdrawal of cash or schedule mutual fund redemptions to make that cash available. Payment frequency can be set as: bi-monthly (for example on the 15^th & 30^th), monthly, quarterly, semi-annually, or annually. Send us instructions on a Financial Account Changes form, or on a RRIF Payment Instructions form.