People's Trust TFSA Transfer Out Time | Tax Free Savings Accounts | Discussion forum

Please consider registering
guest

sp_LogInOut Log In sp_Registration Register

Register | Lost password?
Advanced Search

— Forum Scope —




— Match —





— Forum Options —





Minimum search word length is 3 characters - maximum search word length is 84 characters

sp_Feed Topic RSS sp_TopicIcon
People's Trust TFSA Transfer Out Time
March 16, 2017
8:02 pm
agilo
Newbie
Members
Forum Posts: 1
Member Since:
March 16, 2017
sp_UserOfflineSmall Offline

I know people's trust doesn't charge to transfer out a TFSA account to another institution. Has anyone tried this and how long did the process take?

March 16, 2017
9:49 pm
Loonie
Member
Members
Forum Posts: 2874
Member Since:
October 21, 2013
sp_UserOfflineSmall Offline

Yes. It takes about 3 weeks.

March 17, 2017
7:06 am
JW
Member
Members
Forum Posts: 37
Member Since:
July 19, 2013
sp_UserOfflineSmall Offline

My experience was initiated from Questrade. QT received the request in advance of the PT maturity date but QT was excessively slow to get off the mark and send to PT. Once PT received the request was after the Maturity date they were very prompt to send the transaction to QT. Point of caution with PT ... if you are coming out of a GIC, tell PT on maturity to move the $$$ to a Daily TFSA Savings account. This way you get some interest until the $$$ exit PT. Otherwise PT auto renews at today's rates for the same Term as the former GIC. ie if a 5 year GIC at the 5 year current rate. Failure to advise PT you get ZERO interest until the $$$ exit to your new TFSA institution. My experience with QT Transfers Department ... they Suck!!! They have screwed up 5 out of 6 requests to move my TFSA from another institution.

March 20, 2017
6:18 pm
SavingIsGood
Member
Members
Forum Posts: 129
Member Since:
February 18, 2016
sp_UserOfflineSmall Offline

About a month. No issues just need patience.

Please write your comments in the forum.