Investing

Transferring Tangerine TFSA to Questrade

  • Last Updated:
  • May 15th, 2018 1:14 am
Member
Sep 11, 2015
227 posts
53 upvotes
Toronto

Transferring Tangerine TFSA to Questrade

Hi, I have decided to make the switch and move my investment into ETF's at Questtrade, following the CCP model portfolio.

I have 24k in a Tangerine mutual fund, and 6k in a savings account (both within my TFSA), how do I go about transferring both amounts to Questrade without it affecting my TFSA contribution limit? Do I have to sell my mutual fund into my savings account and transfer it that way?

The 'Transfer account to Questrade' page has two transfer options: "all in cash" or "partial", with "all in cash" described as "Your financial institution liquidates all of your securities and transfers the funds to your Questrade account." Will this "all in cash" option transfer the money from the mutual fund and the cash in the savings account or will I need to do two transfers?
4 replies
Deal Addict
Mar 8, 2013
2949 posts
1611 upvotes
You should sell your Tangerine funds in the schedule that suits you, not Tangerine, and leave the proceeds in TFSA Savings. That way you will have only cash when the transfer request is received from Questrade. The problem is that you don't know how long Tangerine will take to transfer your TFSA. In the meantime, the ETFs that you want to buy will be going up or down.
Sr. Member
User avatar
Sep 18, 2016
501 posts
489 upvotes
all in cash. takes about 2 weeks
"Do not allow yourself to become resentful, deceitful or arrogant"
Jordan B. Peterson
Deal Addict
Dec 22, 2008
2162 posts
965 upvotes
Victoria
Yes, all cash is best. I’d call Questrade - they’ll help and reimburse you for the transfer fee Tangerine charges.
Deal Fanatic
Jan 18, 2003
6482 posts
2388 upvotes
Mississauga
MaxPower19 wrote: Yes, all cash is best. I’d call Questrade - they’ll help and reimburse you for the transfer fee Tangerine charges.
how does questrade reimburse the $45 transfer fee that Tangerine charges?

Top

Thread Information

There is currently 1 user viewing this thread. (0 members and 1 guest)