Misunderstood Things About TSFA's | Page 2 | Tax Free Savings Accounts | Discussion forum

On the topic of exit fees by FI's on transfers of TF GIC's and TFSA's, I received the following note from my GIC broker the name of which I abbreviated to SF:

SF has an agreement that when the funds have been booked by SF and then are transferred out at maturity via a transfer out form initiated by SF, the transfer out fee is waived.

If the funds are booked by SF and if a transfer out form is received at maturity by another financial institution, deposit broker (SF) or investment firm, the transfer out fee may be charged by the financial institution that is transferring the funds.