Personal Finance

Question about Moving RRSPs

  • Last Updated:
  • Jan 20th, 2014 9:13 pm
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[OP]
Newbie
Jun 9, 2009
89 posts
8 upvotes
Ottawa

Question about Moving RRSPs

Hi PF Forum! Quick question to you all, is there a way to move my money from one RRSP account to another for free? TD is charging me $50 plus tax to move it to PC Financial.

In other news, I'm finally moving my personal banking away from TD. After 10+ years of service, I'm switching over the PC Financial for free banking, better interest rates and PC Plus Points.

Unfortunately, I've been treated like garbage by all of the TD reps I've spoken to today so I will be moving my business accounts as well, lol.
4 replies
Sr. Member
Nov 6, 2013
578 posts
326 upvotes
I don't bank with PC Financial so I don't know, but sometimes the new bank you go to will cover the fees for you.

Other than that, you will be required to pay the fee.
Deal Addict
Mar 8, 2009
1420 posts
109 upvotes
Have it moved "in kind" there should be no fees then.
Jr. Member
Oct 27, 2009
139 posts
257 upvotes
Montreal
If you have a good relationship with your banker, he/she should be able to waive the fees for you. The bigger your RRSP, the easier it should be for you to negotiate that.
Sr. Member
Nov 28, 2010
979 posts
166 upvotes
Toronto
"They all suck equally".
TD was one of the better ones for me (out of three I dealt with).
BMO was the worst one.
And it is all subjective after all.
Also, if you decided to take your business elsewhere I can't see why transfer fee would be a big concern.

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