Td tfsa

[Ryan5459]

Has anyone tried to open a TFSA at TD Canada Trust? The TD website said that you can preopen an account just by going to a local branch but I was just there and customer service didn't know what I was talking about. I am meeting a sales rep tomorrow but I am not optimistic that TD is ready to accept customers for this account.

[jerryhung]

You can fill out the PDF form, print it out, mail it back
https://www.tdwaterhouse.ca/apply/forms/528922.pdf

Note:
You can't start buy in TDW until Feb 2009
You can contribute starting Jan 2, 2009

Dear Valued Client,
Thank you for choosing to pre-register for a TD Waterhouse(*) Tax-Free Savings Account (TFSA)
with TD Waterhouse Discount Brokerage. Your new TFSA is a valuable investment and wealth
planning tool designed to better help you achieve your financial goals. As Canada’s leading provider
of discount brokerage services, we look forward to helping you invest with confidence.
What you should expect after January 2nd, 2009:
Your new TD Waterhouse Tax-Free Savings Account will not be activated until January 2, 2009.
New TD Waterhouse Discount Brokerage clients:
Once your new TFSA is activated, you will receive a TD Waterhouse Discount Brokerage New
Account Welcome Package in the mail. This package will reference your new TFSA account number,
and outline some important information regarding your account and our services.
Existing TD Waterhouse Discount Brokerage clients:
Once your new TFSA is activated, you will receive confirmation of your new TFSA account number
in the mail.
Contributions and Investment Instructions:
Effective January 2, 2009, you will be able to contribute and place trades in your TFSA by calling a
TD Waterhouse Discount Brokerage Investment Representative. For your convenience, our
Investment Representatives are available to take your instructions 24 hrs a day, 7 days a week.
Additionally, cash contributions can be made in person at any TD Canada Trust location. If you are an
existing TD Canada Trust banking client and have access to internet banking services, you may also
make cash contributions to your TFSA online using EasyWeb(*). Although you may see your new
TFSA on WebBroker once it is opened, electronic trading access and online contributions using
WebBroker(*) will be not available until a later date in January.
TD Waterhouse Discount Brokerage is a division of TD Waterhouse Canada Inc., a subsidiary of The Toronto-Dominion Bank. TD
Waterhouse Canada Inc. – Member CIPF. (*) Trade-mark of The Toronto-Dominion Bank, used under license.
For your convenience, below is a summary of key dates to remember:
Date Action In Person1 By Phone2 EasyWeb WebBroker
Access your new TFSA account �� �� ��
Contribute t As of January o your new TFSA �� �� ��
2nd
Submit Trading/Investment
instructions ��
Mid-February Contribute to your new TFSA �� �� �� ��
Submit Trading/Investment
instructions �� ��
Fees3 For Tax-Free Savings Accounts:
The TFSA will be offered with no annual administration fee when:
(1) Your account is registered for eServices - online trading confirmations, account
s t a t e m e n t s , a n d t a x d o c u m eOnrt sw. h en,
(2) Your total household assets4 with TD Waterhouse Discount Brokerage equal
$100,000 or more.
Otherwise, the standard annual administration fee of $50.005 applies.
Other TFSA Related Fees
Partial withdrawal fee
(For the second and any subsequent partial withdrawals made from the plan
during the contribution year.)
$25.005
Termination/Transfer Fee $125.005
Partial Transfer Fee (per asset, to a maximum of $125) $25.005
Swap Fee $45.005
If you have any questions regarding your new TD Waterhouse Tax-Free Savings Account, please do
not hesitate to call an Investment Representative at 1-800-465-5463.
Again, thank you for choosing TD Waterhouse Discount Brokerage.

[Ryan5459]

Thanks for the help but I am interested in opening an account at TD Canada Trust not TD Waterhouse. The difference is in the fees. I am not interested in paying $50 a year to maintain a TFSA.

[1LuckyGuy]

Thanks for the help but I am interested in opening an account at TD Canada Trust not TD Waterhouse. The difference is in the fees. I am not interested in paying $50 a year to maintain a TFSA.

Well, if you sign up for paperless recordkeeping, there is no fee.
On the topic though, some of these fees are pretty high, I'm a little surprised. $50 even on $5000 would be a 1% charge right away if you don't get them to waive the fee. And $25 for each withdrawal per year? (after the first) I thought we were supposed to be unrestricted in putting in/taking out money from the TFSA. Haven't seen what the other banks are offering, but I assume its about similar for investment accounts. I just hope there aren't any surprise fees with regular TFSA savings (PC, ING, etc...)

[Jobu]

Thanks for the help but I am interested in opening an account at TD Canada Trust not TD Waterhouse. The difference is in the fees. I am not interested in paying $50 a year to maintain a TFSA.

I'm interested in a TD Canada Trust e-series TFSA account as well. If anyone tracks down the pre-application form, please let us know!

[Ryan5459]

I am meeting with a TD Canada Trust sales person tomorrow. I will let you know what they say. As far as I can tell you need to go in person to open a TD Canada Trust account.

[Thalo]

TFSAs with TDCT won't be available until January 2nd. Mutual Fund TFSAs with TDIS will be available mid-December (I would assume e-fund as well).

I just pre-registered for a TDW TFSA today. Fee is waived for 2009, but I plan to register e-services right away anyway because I hate their statements. I didn't even know about the one free withdrawal per year, but that's more than enough because this is for savings goals, not a slush fund.

[Ryan5459]

I received an email from from TDCT saying that you can preopen a TFSA by calling a 1-800 number or going to your local branch. This email might have only been sent to existing customers that have a RRSP or non-RRSP account set up.

I plan to eventually switch over to TDW once I hit a balance of $100K but right now I find the fees at TDW to much for a portfolio the size of mine.

[Thalo]

I received an email from from TDCT saying that you can preopen a TFSA by calling a 1-800 number or going to your local branch. This email might have only been sent to existing customers that have a RRSP or non-RRSP account set up.

I plan to eventually switch over to TDW once I hit a balance of $100K but right now I find the fees at TDW to much for a portfolio the size of mine.

It probably only referred to a TDW TFSA, but likely they'll be able to open the TDCT TFSAs (for GICs) without much paperwork anyway and you can unofficially "pre-register".

TDW TFSA is no-fee as long as you switch it to e-services. The fee is basically for the mountain of incomprehensible statements they send you.

[Ryan5459]

I imagine that the TDCT TFSA will let me purchase TD efunds (ie. the couch potateo portfolio) much like in my TD RRSP and TD non-RRSP accounts.

I didnt know that TDW was no fee. I thought you had to pay an annual fee if you had an account less than $100K.

[Ryan5459]

Here is the email they sent me:


EasyWeb Important Messages

The NEW Tax-Free Savings Account – Pre-register today!

November 24 2008

Starting January 2nd 2009, there’s a great new way for you to save money. TD Canada Trust will be offering the new Tax-Free Savings Account, which was recently announced by the Canadian government in the 2008 budget. A Tax-Free Savings Account (TFSA) is a flexible investment account that allows you to earn investment income without paying taxes and gives you access to your money whenever you want it.

A TFSA is a great way to save money for major purchases like a car, a home renovation or a family vacation, to put away more money for retirement, or just to have money available when you need it.

Pre-register for your TFSA by visiting a TD Canada Trust branch, or call us at 1-866-222-3456.

Click here for more information about the TFSA and answers to frequently asked questions.

[alanbrenton]

It probably only referred to a TDW TFSA, but likely they'll be able to open the TDCT TFSAs (for GICs) without much paperwork anyway and you can unofficially "pre-register".

TDW TFSA is no-fee as long as you switch it to e-services. The fee is basically for the mountain of incomprehensible statements they send you.

Thalo, how inferior is the webbroker vs the active trader platform? I checked TD's website out yesterday and noted that there is $99/month fee for the active trader account. Is it actually possible to set up an active trader account without the data fees? Thanks.

http://www.tdwaterhouse.ca/activetra...lification.jsp

[monty613]

Thalo, how inferior is the webbroker vs the active trader platform? I checked TD's website out yesterday and noted that there is $99/month fee for the active trader account. Is it actually possible to set up an active trader account without the data fees? Thanks.

http://www.tdwaterhouse.ca/activetra...lification.jsp

data fees are waived if you trade 150+ trades/quarter. judging by your recent posts re: discount brokerages, you probably don't fall into this category.

it's a great platform but a little overkill if you aren't a day trader.

[alanbrenton]

data fees are waived if you trade 150+ trades/quarter. judging by your recent posts re: discount brokerages, you probably don't fall into this category.

it's a great platform but a little overkill if you aren't a day trader.

Thanks for the clarification. Now I understand that you cannot forego the data fees (unless you reach the threshold) if you were to subscribe to the active trader platform.

I thought the trading platform could come separate from the data fees the same way some people have interactivebrokers account but forego paying the $10/month data feed.

[Thalo]

data fees are waived if you trade 150+ trades/quarter. judging by your recent posts re: discount brokerages, you probably don't fall into this category.

it's a great platform but a little overkill if you aren't a day trader.

Yeah, I tried the demo once but I didn't even know what half the crap on the screen does. Still, it's nice to have if you're willing to spend or trade that much.

I do just fine with Webbroker doing my "weektrading".