Log In
Register
Home
Topic RSS
Facebook
Twitter
Email this5:15 pm
April 7, 2017
Offline
Looking for ideas.
I have been pulling RRIF funds out annually and put into TFSA.
But I have some room left and some funds in a HISA that I could park into TFSA savings and then pull out in December. From that I would protect the interest from taxation and increase my TFSA contribution room a bit.
If I use Accelerate savings I have to call for the deposit and not sure if a call or? is required to move funds out of TFSA in December 2017.
I could use Hubert in a combination of the cashable GIC and the savings account and I think I can do all online or? and how is withdrawal from TFSA done?
I could use Oaken in a short term GIC and I think I can do all online or? and how is withdrawal from TFSA done? But these guys have no savings account. Good short term rate but once short term matures...there is no control other than to cash out in to Oaken non registered savings account. And may not get the maximum time for the investment. So I think I have to rule out Oaken.
I know that Outlook Financial, is a PITA to with draw TFSA and move to non registered as you have to mail them a form to do so. And not knowing the speed of mail and processing time....feel uncomfortable.
Comments and ideas please. 🙂 🙂
12:19 am
October 21, 2013
Offline
Looks to me like Oaken doesn't even offer short term GICs for TFSA - which will only confirm your decision not to use them.
I have no experience with taking money out of TFSA though.
Why not phone Hubert and ask them? They do require a phone call to redeem a non-registered GIC, even when maturing, which I have done, but it's very easy.
I did take a lump sum out of RIF with TD over the phone last year. There was no delay or hassle whatsoever, so there ought not to be for this either, but of course that doesn't mean there won't be!
6:55 am
February 24, 2015
Offline
My experience withdrawing from a TFSA Savings Account is from Tangerine. Online, it is just the same as if you were moving money from non-registered savings to chequing. It also gives you a message:
"When withdrawing from a Tax-Free Savings Account, additional contribution room is created for the following year"
Tangerine also keeps track of your deposits and withdrawals, so you can easily see how much room you will have in the following year. In fact, it is only when withdrawing that I am happy with Tangerine ...
8:45 am
April 7, 2017
Offline
Loonie said
Looks to me like Oaken doesn't even offer short term GICs for TFSA - which will only confirm your decision not to use them.
I have no experience with taking money out of TFSA though.
Why not phone Hubert and ask them? They do require a phone call to redeem a non-registered GIC, even when maturing, which I have done, but it's very easy.I did take a lump sum out of RIF with TD over the phone last year. There was no delay or hassle whatsoever, so there ought not to be for this either, but of course that doesn't mean there won't be! Â
Hi. Upon review I have opted not to bother. $7000 @ 1.7% might get me $50.
I use Hubert for GICs and contact them right after entry to have the matured funds go into the associated savings account. Works every time! Every FI that I deal with is that way.
8:47 am
April 7, 2017
Offline
2of3aintbad said
My experience withdrawing from a TFSA Savings Account is from Tangerine. Online, it is just the same as if you were moving money from non-registered savings to chequing. It also gives you a message:"When withdrawing from a Tax-Free Savings Account, additional contribution room is created for the following year"
Tangerine also keeps track of your deposits and withdrawals, so you can easily see how much room you will have in the following year. In fact, it is only when withdrawing that I am happy with Tangerine ... Â
Yes thanks very similar to iTrade (BNS owned) .... withdraw TFSA all online with no assistance.
2:21 pm
October 21, 2013
Offline
Cranston said
Hi. Upon review I have opted not to bother. $7000 @ 1.7% might get me $50.
I use Hubert for GICs and contact them right after entry to have the matured funds go into the associated savings account. Works every time! Every FI that I deal with is that way. Â
I probably had left the default at Hubert for rollover, and that may be the reason I had to call. I didn't roll over this time as I'm waiting for the rate to go back up to 2.05 (hopefully). If nothing happens after the BoC statement, I may have to make a different decision.
Please write your comments in the forum.