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Canadian Tire TFSA
June 10, 2016
8:53 am
SSRT861
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Forum Posts: 1
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June 10, 2016
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Submitted a TFSA transfer form to transfer out my TFSA balance (approx. $45,400) to BMO Investorline. This was done since May 25, 2016 but funds not yet received as of June 10, 2016. Spoke to CSRP at Canadian Tire Financial, and informed me that they mailed a cheque for $45K to BMO since June 1,2016. Contacted an Accountant Supervisor at Canadian Tire Financial since I noticed that they took $50 as transfer fee and did not transfer my entire balance. Was not willing to waive fee and insisted that it was a fee that BMO charged me. Closed my savings account with Canadian Tire and also spouse will close her account with Canadian Tire. Would strongly advise potential clients not to open any open any accounts with them. Their CSRP are rude, arrogant, have poor customer service skills and do not care if customers are poorly treated by them. They are dishonest and want to charge me another $50 fee to transfer out the remaining balance in my TFSA.

June 10, 2016
9:45 am
Saver-Mom
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December 12, 2015
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Just withdraw the remaining tfsa funds, and redeposit the amount next year. They cannot charge you for a withdrawal. Transfer out fee is for sure from the sender, not the receiver, your clerk was incompetent as well as rude. BMO investorline will likely refund you the transfer fee, send them a copy of the statement. When u transfer out of investorline expect a much larger transfer out fee!

June 10, 2016
4:38 pm
kanaka
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December 23, 2011
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SSRT861. I totally agree with Saver-Mom. I doubt if Investorline charged you for a deposit!!

I would call Canadian Tire Financial and ask for a supervisor or manager to answer your question or email them if CT has a contact/mail process once logged on. Also look at your CT account and see if there was 2 withdrawals .....one for the cheque to BMO and one for the alleged transfer fee. Be kind but assertive. sf-smilesf-smile

ps. I don't deal with CT or any other piggy back banks.

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