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Email this1:52 pm
May 24, 2016
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I've just been speaking with a very polite CRS about possibly opening a TFSA, transferring funds from another institution. Apart from very clear information from the CSR, what I found most interesting is that she told me that the impending transfer starts earning interest from the date of application. IF I get a promo, that's of real benefit to me. Has anyone heard of this before? I'm pretty sure Oaken didn't start paying interest until they had my transferred funds in their hands.
1:00 am
October 21, 2013
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I've not run into this. Have done two TFSA transfers, but not to Tang. I think they can afford to give it to you though, considering their generally low rates on TFSAs. The recent promo is the first time in ages that they have offered anything much on TFSAs.
This could be a real boon if you were transferring from TDDI as they are infamous for delayed transfers, sometimes taking months and months! I've had CSRs at more than one FI tell me that if I were transferring in from TDDI, they could not guarantee the rate because the funds would take too long to get there.
That said, you might consider sending an email to confirm this in writing, or at least making another phone call to talk to a different CSR.
11:00 am
February 17, 2013
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Wasn't that the policy when it was run by ING?
1:40 pm
July 10, 2011
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Warning - You WILL pay T2033 transfer fees when leaving.. Beware.. Likely not worth it for cash TFSAs..
2:26 pm
September 11, 2013
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T2033 has nothing to do with TFSAs.
10:01 pm
December 1, 2016
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Bill said
T2033 has nothing to do with TFSAs.
This is true, but there likely will be an impending transfer fee from the current FI. Depending on the amount being transferred over, some FI will cover that fee, so worth checking out.
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