Personal Finance

Moving TD checking funds to direct investmen

  • Last Updated:
  • Jun 2nd, 2020 9:38 am
[OP]
Jr. Member
Apr 19, 2017
122 posts
22 upvotes

Moving TD checking funds to direct investmen

Hi Folks
Lots of questions

So I got my $300 sign up bonus and don't need the checking account
But I have opened a direct investing account and a everyday savings account

#1-i want to keep access to the app and easyweb for the investment purposes
Can I do that if I close my checking account ?

#2-i want to move the $5k from checking to direct investment TFSA but I don't see an option for this on transfer window
How can I move it and should I move it before I contact TD to close the account ?

#3- If I automate $250 going from my tangerine into direct investment TFSA how can I distribute the funds to suit the couch potato portfolio within the TFSA ?

Thanks in advance
2 replies
Deal Addict
Jul 29, 2004
2869 posts
366 upvotes
#1 - Should be fine as long as you have active accounts.

#2 - Go to your Canada Trust account online, select Transfers and then pick the accounts. Your banking and investment accounts will all be there as options.

# - No idea

Also worth noting that unless you have $15,000 in investments, TD Direct Investing will apply a quarterly fee.
Deal Addict
Jan 21, 2018
3401 posts
3515 upvotes
Vancouver
TD Bank and TDDI can both be accessed through the TD app or TD online.

TFSA, RRSP, and RRIF accounts are not automatically linked to online banking with TD/TDDI. Apparently you have to call in to request this. I say "apparently", because we've been trying since January with no luck. Got a runaround from TDDI for 2 months, and since then they have been totally impossible to contact by any means.

For this reason, I recommend strongly against using TDDI for anything. Their response to the COVID-19 crisis has been a complete collapse of customer service and total failure to take effective remedial action.

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