Lol, no shit that broker isn't returning e-mails or calls. They will wait until after March 31 to get back to you when this deal is over. The $150 should cover most if not all of it in most cases. If you initiate the transfer from QT, they will do it for you and it doesn't matter what your broker does. It will transfer.
Questrade
Transfer your account for free (rebate up to $150) - no balance requirement
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- iOsiris
- Newbie
- Oct 31, 2009
- 30 posts
- 8 upvotes
- k_jai
- Deal Addict
- Nov 25, 2007
- 1066 posts
- 1273 upvotes
- Toronto
How long does it take to get the rebates applied to the QT account? Did mine about 2 weeks ago and haven't had any updates.
- fern54
- Member
- Aug 21, 2016
- 465 posts
- 164 upvotes
- dmbcanada
- Jr. Member
- Aug 12, 2012
- 170 posts
- 54 upvotes
- Ontario
They finally responded, but I already initiated the transfer so they are out of luck to keep me as a customer!iOsiris wrote: ↑ Lol, no shit that broker isn't returning e-mails or calls. They will wait until after March 31 to get back to you when this deal is over. The $150 should cover most if not all of it in most cases. If you initiate the transfer from QT, they will do it for you and it doesn't matter what your broker does. It will transfer.
- VSU2508
- Newbie
- Sep 13, 2016
- 79 posts
- 33 upvotes
What is the cut off for getting the transfer rebate ? Application in before 31st mar or actual transfer done by 31st mar ? I got an email at 4.30 PM today saying they wouldn’t accept one of my form. I have been on phone for past 20 mins with no luck. I am sure they would get back to me only on Monday by the time the offer would have elapsed.
- bouche
- Member
- Mar 8, 2008
- 491 posts
- 838 upvotes
- gatineau
this is the sort of similar experience to mine in which i am interested. Their notification system for fees is horrid! I first learned of the $100 inactivity fee after I saw a sale of shares from my account. I called and they explained that I owed them money, so they sold shares to recover, while also charging me commission.wally_walrus wrote: ↑ I was with National Bank through a robo, and I can tell you I do NOT prefer their pricing model... First - they charge $9.95 commission (+HST) for both buy and sell, this discourages frequent DRIPs. Then they charge you $100 annual fee per account with them (+HST again). I had a total of 6 accounts (2 TFSAs, 2 RRSPs and 2 cash accounts) - doing no trades whatsoever cost me $550 + HST a year. And the kicker? Transfer out fees are $125 per account + GST. I transferred out 4 accounts, so they hit me real hard... I'm surely glad Questrade will reimburse the fees, and my returns are starting to improve already
And I haven't even touched on the robo fees yet (~0.6% of the portfolio)
So YMMV, but Questrade works much better for me
From there, I decided to make up the 5 trade minimum over a year, by way of purchasing small amounts of a cheap stock. I figured it was better to offset the fee by eating up $50 in trade fees. Another year went by, and I thought I'd made 5 trades, but apparently I missed the cut-off date. I had no obvious notification that I owed them the $100 fee. One has to login to their system in order to see any notifications. They didn't email me, or contact me in any other way.
Once again, they sold a chunk of shares without any warning.
I'd like to find a place with better customer connection, but I just don't have the knowledge or courage to move to a different system. The ONLY benefit with NBC is that I can easily transfer money into the account from my existing NBC accounts.
Is it easy to move money from NBC to questtrade?
- fern54
- Member
- Aug 21, 2016
- 465 posts
- 164 upvotes
Initial transfer you can do by simple filling out a form with their address and your account number. Afterwards, you can transfer funds through EFT or bill payment to Questradebouche wrote: ↑ this is the sort of similar experience to mine in which i am interested. Their notification system for fees is horrid! I first learned of the $100 inactivity fee after I saw a sale of shares from my account. I called and they explained that I owed them money, so they sold shares to recover, while also charging me commission.
From there, I decided to make up the 5 trade minimum over a year, by way of purchasing small amounts of a cheap stock. I figured it was better to offset the fee by eating up $50 in trade fees. Another year went by, and I thought I'd made 5 trades, but apparently I missed the cut-off date. I had no obvious notification that I owed them the $100 fee. One has to login to their system in order to see any notifications. They didn't email me, or contact me in any other way.
Once again, they sold a chunk of shares without any warning.
I'd like to find a place with better customer connection, but I just don't have the knowledge or courage to move to a different system. The ONLY benefit with NBC is that I can easily transfer money into the account from my existing NBC accounts.
Is it easy to move money from NBC to questtrade?
- Chipppy
- Sr. Member
- Oct 6, 2018
- 589 posts
- 1082 upvotes
According to QT, it's application and transfer request in by March 31st. The transfer could take up to a month depending on the institution.udhatya wrote: ↑ What is the cut off for getting the transfer rebate ? Application in before 31st mar or actual transfer done by 31st mar ? I got an email at 4.30 PM today saying they wouldn’t accept one of my form. I have been on phone for past 20 mins with no luck. I am sure they would get back to me only on Monday by the time the offer would have elapsed.
- wally_walrus
- Deal Addict
- Oct 19, 2007
- 2310 posts
- 1655 upvotes
- 45.467253°N, 75.5123…
I wasn't a direct customer of NB, but the robo I was using used NBIN (NB Investment Network) as a custodian. So the fee structure was a little different with another layer in between, but the general idea was the same - nickel and dime...bouche wrote: ↑ this is the sort of similar experience to mine in which i am interested. Their notification system for fees is horrid! I first learned of the $100 inactivity fee after I saw a sale of shares from my account. I called and they explained that I owed them money, so they sold shares to recover, while also charging me commission.
From there, I decided to make up the 5 trade minimum over a year, by way of purchasing small amounts of a cheap stock. I figured it was better to offset the fee by eating up $50 in trade fees. Another year went by, and I thought I'd made 5 trades, but apparently I missed the cut-off date. I had no obvious notification that I owed them the $100 fee. One has to login to their system in order to see any notifications. They didn't email me, or contact me in any other way.
Once again, they sold a chunk of shares without any warning.
I'd like to find a place with better customer connection, but I just don't have the knowledge or courage to move to a different system. The ONLY benefit with NBC is that I can easily transfer money into the account from my existing NBC accounts.
Is it easy to move money from NBC to questtrade?
QT has plenty of methods to fund the account. I only had RRSP and TFSA held at NBIN, so simply filled in a transfer form at QT and they took care of it all
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- tripleflip
- Deal Addict
- Jul 1, 2006
- 1124 posts
- 50 upvotes
How is TD Waterhouse in comparison to national bank or anything else. TD Waterhouse is 9.99$ commission is there any hidden fees? Or is just as good as the best out there ?HyperTech wrote: ↑ Not too fast... Ecn and all others fee still apply. If u do huge transactions like me it can cost u lots of money, recently i have made a purchase of 42 300 units, i manage to avoid ecn fees and the other fees(for not being a multiple of 100) it cost me 9.95 instead of 250$ for the commission. Maybe it look cheap... But these fees add up fast and can eat ur profit, if there is any.
Don't tell me about delaying my transaction, sometime u can mist an opportunity trying to gamble with 1 cents to avoid theses fees. While i was making my order, the price went down and it executed immediately, so huge fees...
I prefer national bank for the flat 9.95$ no others weird fees. I can't tell for other platform, i did not used them. With my national bank account, i can make a limit purchase at the current price and will not be dinged by these fees.
And u can buy AND sell etf for free, as long its a minimum of 100 units per transaction.
But, the questrade interface is by far superior than the old and awkward website of nb one.
- HyperTech
- Deal Addict
- Dec 4, 2007
- 4869 posts
- 2743 upvotes
- Quebec
Sorry, i never used TD. According to their fees web page, i don't see anything related about theses fees other than the regular commissions 9.99$ fee.tripleflip wrote: ↑ How is TD Waterhouse in comparison to national bank or anything else. TD Waterhouse is 9.99$ commission is there any hidden fees? Or is just as good as the best out there ?
- raviji
- Deal Addict
- Jan 25, 2009
- 1505 posts
- 1529 upvotes
$9.99 flat. No other fees. Buy as many shares as you want. They do have $25 plus tax quarterly maintenance fee but it is waived if you either carry $15,000 household combined equity, or doing atleast 3 trades in a quarter or setting up $100 pre-authorized transfer from your bank to one of your DI accounts. You can always transfer $100 back but that will waive the fees from coming on.tripleflip wrote: ↑ How is TD Waterhouse in comparison to national bank or anything else. TD Waterhouse is 9.99$ commission is there any hidden fees? Or is just as good as the best out there ?
The only other fees I can think of are RSP account withdrawal which is $25 plus tax and they have advanced trading platforms (which you don't have to use) that have their own fees which also can be waived if you meet certain criteria.
- tripleflip
- Deal Addict
- Jul 1, 2006
- 1124 posts
- 50 upvotes
Does national bank require any maintainence on the account during the year or can I just let it sit and not get any maintainence fees?
- Nlcdn18
- Newbie
- Feb 6, 2018
- 64 posts
- 61 upvotes
- Victoria
Looks like the promotion got extended till June 30, 2019, see https://my.questrade.com/clients/en/ter ... ode=FREE2Q
- HyperTech
- Deal Addict
- Dec 4, 2007
- 4869 posts
- 2743 upvotes
- Quebec
Minimum 20k(all account combined) Cad value at the 1st may of the year, if not u will be charge 100$ cad for "maintenance" fee for the year.tripleflip wrote: ↑ Does national bank require any maintainence on the account during the year or can I just let it sit and not get any maintainence fees?
I mainly use national bank because of the real no fees buying and selling minimum 100 shares of etf. Not like the "no fees" of questrade to buy, but will be charge for ecn fees(no big deal if u buy only a few shares, but if u buy huge amounts, it can be very expensive)
Some will argue, its easily avoided by delaying the transaction, i agree, but what if i want it now at this exact moment price? Sometimes u can mist serious opportunities by playing this "delay" game by submitting a limit order with a guessing price that might never happen.
- tripleflip
- Deal Addict
- Jul 1, 2006
- 1124 posts
- 50 upvotes
What are ecn fees? Are they market buys/sells?HyperTech wrote: ↑ Minimum 20k(all account combined) Cad value at the 1st may of the year, if not u will be charge 100$ cad for "maintenance" fee for the year.
I mainly use national bank because of the real no fees buying and selling minimum 100 shares of etf. Not like the "no fees" of questrade to buy, but will be charge for ecn fees(no big deal if u buy only a few shares, but if u buy huge amounts, it can be very expensive)
Some will argue, its easily avoided by delaying the transaction, i agree, but what if i want it now at this exact moment price? Sometimes u can mist serious opportunities by playing this "delay" game by submitting a limit order with a guessing price that might never happen.
- HyperTech
- Deal Addict
- Dec 4, 2007
- 4869 posts
- 2743 upvotes
- Quebec
Its some "electronic communication network" fees that some broker charge extra in addition to the commissions fees. I don't know why some broker charge it and some not, perhaps some just include it in their 9.99 commission fees. That's what i think.
- manho
- Deal Addict
- Jul 24, 2003
- 2205 posts
- 1124 upvotes
data point. everything arrived at QT. CIBC account was not deregistered (i.e. active with 0 balance).manho wrote: ↑ Just got off the chat with QT. They're telling me to wait and see, as different asset could arrive at different time.
I wonder if it could because I only had enough cash balance ($160) remaining in the CIBC RRSP to transfer out ($125, which has been deducted) but not deregister ($100).
...then I just received a $30 dividend from a stock in CIBC just now.. anyone has any good suggestion what to do with this $30 left over? i have a feeling i will get dinged a $100 annual maintenance fee (for being under $25k) just because of this $30...
- fern54
- Member
- Aug 21, 2016
- 465 posts
- 164 upvotes
You need to contact CIBC and tell them to transfer the residual. You shouldn't face any additional fee for this. Questrade mentions this in one of their emails they send you during the transfer process so try to look for that for more details from them but that's the jist.manho wrote: ↑ data point. everything arrived at QT. CIBC account was not deregistered (i.e. active with 0 balance).
...then I just received a $30 dividend from a stock in CIBC just now.. anyone has any good suggestion what to do with this $30 left over? i have a feeling i will get dinged a $100 annual maintenance fee (for being under $25k) just because of this $30...
- manho
- Deal Addict
- Jul 24, 2003
- 2205 posts
- 1124 upvotes
Thanks for your reply. I see it in QT's email now
Will contact CIBC. Let's hope CIBC don't ding me for another fee for this.If you requested a full transfer, please check that all dividends and payments have been transferred from your financial institution. Only your financial institution can transfer these and any remaining assets to Questrade.
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