Motus Bank TFSA - bank to bank transfer fees | motusbank | Discussion forum

ciena said
Hi All,
Anyone know if Motus charges any fees to transfer money into or out of Motus TFSA.

Example transfer money from TD to motus and vice versa.

Thanks!  

Here is what I found in regards to TFSA.

Transfers: At the direction of the Holder, the Issuer shall transfer all or any part of the Deposits held in connection with the TFSA (or an amount equal to its value) to another TFSA of the Holder. On the breakdown of a marriage or a common-law partnership, the Holder may transfer an amount from this TFSA to a TFSA of the other party. In these circumstances, the transferor will not regain the personal contribution room represented by the transferred amount, but the transferred amount will not be counted against the personal contribution room of the transferee. A $50 charge will apply to your TFSA funds for any transfers from that account to another financial institution.

Kidd said
https://www.motusbank.ca/Support/Rates#Ourfees

They have a $50 transfer "out" fee on registered products but i think all banks do. Transfer of registered products "in", looks to be free.  

You might want to verify Oaken, Peoples Trust and Hubert.

I called them and they will reimburse up to $50.00 fee coverage for TFSA's transferring in from another bank.