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Ideal TFSA transfer out fee?
January 8, 2020
6:26 am
dommm
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Does anyone know if there is a transfer out fee on Ideal TFSA accounts? I have been on their website & can't find their fee schedule. I have googled the question & can't find the answer. If it makes sense I plan on transferring my TFSA from Ideal to a TFSA savings account I have with Motive because Motive's interest rate is 2.40% & Ideal's is 2.31%. The only reason for me not to do this is if there is a transfer fee involved that would make this move cost prohibitive. Thanks

January 8, 2020
6:57 am
Shawguy
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January 8, 2020
8:53 am
dommm
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Shawguy said
$50

https://idealsavings.ca/extras/fees/  

Thanks Shawguy, I put "fees" in the FI search box & did not get your link. Not sure where I went wrong but thanks again.

January 10, 2020
3:50 pm
dougjp
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$ 5- fee if withdrawing funds which is not that hard to take (about the annual difference between 2.31% and 2.4% on $ 5,500-), so, remember that come December if they aren't competitive, and leave $ 0.01 there. 🙂 All TFSA savings account moves happen in December by withdrawing and redepositing in January.

My memory's not as sharp as it used to be. Also, my memory's not as
sharp as it used to be.

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