Personal Finance

BCTESG and TD RESP account

  • Last Updated:
  • Jul 9th, 2020 10:47 am
[OP]
Member
Oct 18, 2015
355 posts
250 upvotes
Vancouver, BC

BCTESG and TD RESP account

I have a RESP account with TD for my child, and he has turned 6 so he is eligible for BCTESG - from what I heard, we needed to make an appointment and fill out a form to be submitted to the government in order for the grant to be processed, but due to covid our branch is closed. Does anyone know if they have changed the process? I tried calling customer service (who told me to visit a branch), I visited another branch and they gave me a form to fill and return, but it was apparently rejected because TD didn't verify the ID or something.
4 replies
Deal Addict
Dec 28, 2007
1119 posts
676 upvotes
What type of RESP account do you have? It is my understanding that TD supports BCTESG in their term (i.e. GIC) and TDDI (brokerage) RESP accounts. If you have a TD mutual funds account, then you will need to open a different account to get BCTESG.
[OP]
Member
Oct 18, 2015
355 posts
250 upvotes
Vancouver, BC
JUnit wrote: What type of RESP account do you have? It is my understanding that TD supports BCTESG in their term (i.e. GIC) and TDDI (brokerage) RESP accounts. If you have a TD mutual funds account, then you will need to open a different account to get BCTESG.
I think it's a TDDI account? I can buy mutual funds in mine. It shows up in easyweb not Waterhouse...
Deal Addict
Dec 28, 2007
1119 posts
676 upvotes
eyeball123 wrote: I think it's a TDDI account? I can buy mutual funds in mine. It shows up in easyweb not Waterhouse...
Sounds like a TD Mutual Funds account, which doesn't support BCTESG. If you want to keep your RESP in one place, you could open an RESP at TDDI (TD Waterhouse), apply for BCTESG, and transfer your mutual funds into it. Or open another RESP just to receive the BCTESG. (I have a term RESP at TD for that purpose, as TDDI didn't support BCTESG when I applied for it.)
[OP]
Member
Oct 18, 2015
355 posts
250 upvotes
Vancouver, BC
JUnit wrote: Sounds like a TD Mutual Funds account, which doesn't support BCTESG. If you want to keep your RESP in one place, you could open an RESP at TDDI (TD Waterhouse), apply for BCTESG, and transfer your mutual funds into it. Or open another RESP just to receive the BCTESG. (I have a term RESP at TD for that purpose, as TDDI didn't support BCTESG when I applied for it.)
I see - thanks for the info! Sounds like I'll need to make an appointment at the branch to get these sorted out. Thanks!

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