It is important to note that the name registered with Newton must match the name registered on the bank account. A business bank account can not be used to wire transfer money to a personal Newton account.
How to deposit with wire transfer via the web:
1. Log into your Newton account.
2. Navigate to the Add Funds funding drawer at the top right.
3. Select Via Wire Transfer.
4. Enter the amount you’re planning to send and tap Confirm details.
5. Copy the transfer details.
6. Go to the bank with the reference code and the PDF to initiate your minimum $10,000 wire transfer.
How to deposit with wire transfer via the app:
1. Log into your Newton account.
2. Navigate to the Transfer icon at the bottom.
3. Select Add Funds, followed by Via Wire Transfer.
4. Input the amount of CAD (minimum $10,000) you would like to deposit into your Newton account.
5. Select Confirm Transfer Details. Make sure to save the bank details to initiate a transfer from your online banking or at a local bank branch. Additionally, write down your 6-character reference code. Failing to include this reference code may significantly delay your transfer’s processing.
6. Go to the bank with this reference code and the PDF to initiate your minimum $10,000 wire transfer.
Note: If the wire transfer is sent incorrectly, there is a $51.50 fee to have the transfer reversed.