Bill said
Thank you, Briguy and NorthernRaven. If I can transfer $25K a day that would work for me, just take a few days for anything I'd want to do, I'm never in that much of a hurry.

I didn't even know about TD Easy Trade, it appears to be part of TDDI but looks very good for those who want to do basic stock trades via phone app.  

You get 100 free trades a year on TD Easy Trade and no low balance or yearly fees. One main downside is that it's only available as a phone app, so you don't get the luxury of seeing it on a bigger screen, the other main downside is that you can only trade ETFs or stocks, not bonds or mutual funds or GICs.

I didn't even know about TD Easy Trade, it appears to be part of TDDI but looks very good for those who want to do basic stock trades via phone app.

Bill said
What's the maximum for pay bills? Is it feasible to use, say, Tangerine bill pay to move $100K to TDDI?

And TDDI's site doesn't mention pay bills as an option. It does allow interac e-tranfers but isn't there a limit on those?

TDDI's site only refers to direct transfer from your TD account, not other banks, aside from setting up a recurring pre-authorized deposit (PAD).  

I bill-paid from Tangerine to a TDDI account# a couple of years ago, it is suggested by TDDI agents, worked without issue, and the funds would count for any open transfer promotion you might be registered for.

I think Tangerine had something like a $20-$25K maximum on bill payments, that might vary by customer, and I'm not sure if that is per day or per bill payment. But Tangerine customer service can do a larger one for you, I think.

And TDDI's site doesn't mention pay bills as an option. It does allow interac e-tranfers but isn't there a limit on those?

TDDI's site only refers to direct transfer from your TD account, not other banks, aside from setting up a recurring pre-authorized deposit (PAD).

Bill said
Even better if it's new money and you are enrolled in their current new money offer.

Just be careful if you're moving it to TDDI from your TD bank account, it won't be considered new money unless you provide them a screen shot of the money coming from outside TD group into your TD bank account before it was then transferred to TDDI.  

Probably the best strategy is to bill pay from your outside FI directly into your TDDI

Just be careful if you're moving it to TDDI from your TD bank account, it won't be considered new money unless you provide them a screen shot of the money coming from outside TD group into your TD bank account before it was then transferred to TDDI.

hwyc said

Found rates delightfully competitive

1Y 3.29%
2Y 3.65%
3Y 3.83%  

TDDI GIC rates, as of Today . . .

1Y 3.44%
2Y 3.74%
3Y 3.85% 
4Y 3.85%
5Y 4.00%

.
'Very' competitive with the The Best❗

Dean

I suppose if you have only GICs in a RRIF it's a given it's a declining asset, but in my case my RRIF FMV is higher than the day I opened it a few years ago. We'll see how long that goes on for. From what I can tell TDDI is as happy to have my RRIF business as for my other accounts with them, they've been very helpful whenever I've called them about withdrawal options. Now I know the drill so I don't anticipate needing to ever call them again about that account.

No problem with withdrawals after this date at Hubert. Have done it several times. After dealing with innumerable FIs during our RSP years we have settled on Hubert for remaining RIF. It's by far the easiest one to deal with. No surprises or convoluted rules. You will come to appreciate this simplicity as you drift towards the sunset, trust me!.

The definition in Income Tax Act subsection 146.3(1) says the minimum must be taken each year:

retirement income fund means an arrangement between a carrier and an annuitant under which, in consideration for the transfer to the carrier of property, the carrier undertakes to pay amounts to the annuitant (and, where the annuitant so elects, to the annuitant’s spouse or common-law partner after the annuitant’s death), the total of which is, in each year in which the minimum amount under the arrangement for the year is greater than nil, not less than the minimum amount under the arrangement for that year, but the amount of any such payment does not exceed the value of the property held in connection with the arrangement immediately before the time of the payment. (fonds de revenu de retraite)

December 31 is still part of the year. So, one could withdraw all or the remaining part of the annual RRIF minimum for a year as late as December 31.

That's right. Feed RRIF account holders a made-up 15-day requirement from CRA to cover up their one-person RRIF processing department booking the last two weeks of December off each year!

All financial institutions are compelled bylaw to make minimum RRIF withdrawals, regardless of any lock-ins. They should follow your instructions or, of you didn't leave any, use their policy. Cracking the lowest-interest ones is best for the client, but I don't know if they all do it that way. My first withdrawal was last year, and went like clockwork.

NOTE: CRA says one must make them more than 15 days before or after year-end. So I use December 15.

NorthernRaven said

I was wandering around Oaken's site the other day, and I noticed that for RRIFs, they will extract your minimum payment requirement from the GIC(s) value without requiring they be cashed in or deregistered.

So you don't need loose cash, or timed GIC maturities. They do it in a customer-friendly fashion, starting with the lowest rate GIC, and shortest remaining duration as a tie-breaker. I'm (fortunately) not at RIF age yet myself, so I'm not sure how other institutions handle cases of non-liquid assets like GICs when it comes time to make the minimum payment.  

At Hubert, they will withdraw your annual RIF mandatory amounts from the locked-in term deposit that has the lowest interest rate. You can also withdraw extra RIF funds at any time from locked-in terms with no fees or penalties.