Tfsa
Can a person hold two tfsa account under the same bank?
JussB
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Dec 14th, 2011 11:57 am
Dec 14th, 2011 12:06 pm
Dec 14th, 2011 12:20 pm
wesboag wrote: ↑hmmm, im not to sure....as I said, I would imagine it would be possible as you can have multiple RRSP accounts under a single institution, so why not TFSA's. The problem with this is if you are using different accounts your tracking of contributions and withdrawls may be more difficult and you risk over contributing as remember withdrawls can't be put back in until the following year. I wouldn't be using a TFSA as a daily/monthly expense account for just this reason, among others.
Dec 14th, 2011 1:03 pm
Dec 14th, 2011 1:08 pm
mkerian wrote: ↑You could have 5000 tfsa accounts with the same bank all with $1.00 in them. You just can't go over the $5000 limit.
For example, I have a TFSA account (interest only) and TFSA investment account with BMO, and another TFSA account (interest only) with RBC.
The more you have though, the more you need to be careful about keeping all your accounts at the $5000 limit. It's your own responsibility to ensure you don't go over.
Dec 14th, 2011 1:09 pm
Dec 14th, 2011 1:13 pm
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