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Email this12:19 pm
October 27, 2013
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It is even better than that. I checked and I submitted on Sept 29th. The transferred equities were posted online in my account effective Oct 2nd. Publicly traded equities are easy to move. No dangling participles like there are for GICs et al.
BMOIL says they will cover a transfer out fee up to $200. I submitted evidence of that as a screenshot from my iTrade account yesterday ($157.50 including GST) via Secure Upload online. I will see what happens this coming week.
12:34 pm
September 7, 2018
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AltaRed said
It is even better than that. I checked and I submitted on Sept 29th. The transferred equities were posted online in my account effective Oct 2nd. Publicly traded equities are easy to move. No dangling participles like there are for GICs et al.
Ok - so GICs will take more time - I do have GICs at iTrade - so maybe that is what will take weeks.
1:36 pm
October 27, 2013
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canadian.100 said
Ok - so GICs will take more time - I do have GICs at iTrade - so maybe that is what will take weeks.
That is assuming BMOIL will take them. Did you first show BMOIL an iTrade statement showing your list? If BMOIL has no relationship with a particular issuer, they may not accept them in a transfer.
2:00 pm
September 7, 2018
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AltaRed said
That is assuming BMOIL will take them. Did you first show BMOIL an iTrade statement showing your list? If BMOIL has no relationship with a particular issuer, they may not accept them in a transfer.
I had a brief phone call with BMOIL and I only asked about DYN6004 and DYN6005 which they said I could not transfer but should turn into cash and then transfer. Guess I need to phone IL to check re the GICs - I gather that I cannot go into a BMO branch with the iTrade statement to ask about such in regard to IL set up. If IL won't take the GICs, then I will need to keep at iTrade until maturity dates. I may drop the idea of moving to IL if the GICs can't be moved. Not worth the hassle.
2:20 pm
October 27, 2013
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A branch cannot tell you but a telephone call to BMOIL will confirm (or not) which ones can be transferred. The risk of 'no' is likely limited to a somewhat minor GIC issuer that iTrade carries but BMO IL does not. The usual suspects are common to virtually all big bank brokerages.
