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What do I do if I have several orders in progress and the total amount exceeds the purchasing power of my account?
It's possible that the account selected for your purchase does not hold the necessary cash or purchasing power to enable you to make a purchase.
Here are some possible solutions:
- Confirm that you selected the right account.
- To obtain the necessary purchasing power for your transaction, you can transfer funds or sell another security to pay for your purchase. For more details, watch our tutorial on transferring funds, or consult the question “How do I transfer funds to National Bank Direct Brokerage?”.
- Open buy orders reduce your buying power, even if they don't have the Filled status. If necessary, you can cancel an open buy order to free up some purchasing power.
Welcome to our National Bank Direct Brokerage video on how to transfer funds into your brokerage account. Incoming or outgoing money transfers must be made from the transfer icon permanently located in the upper right corner of the screen. Click on the icon to proceed to the transfer funds screen.
Once here step 1 is to click on select account and choose the bank account that you wish to transfer funds from to your brokerage account. Please note the funds transfer needs to be in the same currency between both accounts.
Step 2, select the brokerage account where you want the funds deposited in for a non-registered account or make a contribution into your TFSA, RRSP or other registered account.
Step 3, type in the amount and click on review transfer. Then a second pop up will appear that will allow you to validate the request.
Please note, when the transfer is coming from an NBC bank account and is requested between 8 am and 4 pm on a business day, the funds will appear in your brokerage account almost instantly. For most other institutions, it can take up to three business days.
If no changes are needed, click on confirm. A new window will then pop up confirming that the request is processing. If there are any issues regarding the transfer request, you can consult the status by clicking the Activities heading and selecting Current Transfers from the dropdown menu.
Otherwise, if we click on Accounts and then Summary, we can see that the funds are in the account ready for you to invest. This concludes our video on how to transfer funds into your NBDB brokerage account.
Related questions
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What do I do if I have several orders in progress and the total amount exceeds the purchasing power of my account? Learn what to do when you have multiple orders in progress exceeding your account purchasing power. -
What to do if I get the warning that I do not have the purchasing power to place an order? See what you should do if you don't have the purchasing power to place an order from your online brokerage platform or direct brokerage app. -
When I try to place an order, I am told that "Restrictions apply to your account". What do I do? See which documents you need to send us to lift restrictions from your National Bank Direct Brokerage account. -
Why can't I short sell a security that I'm trying to sell? See why you may not be able to short-sell a security and learn about borrowing requirements and daily changes. -
Why was my transaction declined? See the reasons why your transaction may have been declined and what you can do.
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