Switching from TDDI to Scotia iTrade - step by step advice?

johnnychi wrote: ↑ Can you provide a link as to where you saw the $25k transfer-in promo? I don't really see promos like that for the big bank brokerages only one I recall is Questrade and it is up to a certain amount with taxes included.

TERMS AND CONDITIONS
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Offer valid for the new Scotia iTRADE® accounts, excluding Cash Optimizer Investment accounts. If you did not have a Scotia iTRADE account as of July 31, 2019 and you (i) open one or more NEW Scotia iTRADE account(s) (each, a “New Account”) by October 15, 2019 and fund the New Account(s) by October 31, 2019 with at least CAD $2,500 in cash or in Net Equity (cheque deposit, electronic funds transfer or transfer of assets) ("Minimum Amount"), from an account that is not held at Scotia iTRADE; and (ii) then maintain a Minimum Amount in assets that you deposited in your New Account(s) between October 31, 2019 and December 31, 2019, (1) $50 cash will be deposited directly into your New Account by January 31, 2020; (2) you will be automatically enrolled to qualify for commissions of $6.99 flat per Canadian or U.S. equities/ ETF trade and $6.99 + $1.25/contract for each options trade in your New Account(s) until March 1, 2020. New qualification status will be effective on the earlier of August 19, August 26, September 2, September 9, September 16, September 23, September 30, October 7, October 14, October 21, October 28 and November 1 after you satisfy all the eligibility requirements for this offer. If you transfer at least $25,000 into your New Account(s), the amount of the transfer-in fee charged by another Canadian broker will be credited to your New Account(s) by January 31, 2020 (up to $150 per client) subject to Scotia iTRADE’s receipt of the documentation evidencing such transfer-in fee. Fees for U.S. transactions are charged in U.S. dollars. If you qualify for the commission of $4.99 per trade, your entitlement will not be affected by this offer. To qualify for this offer, you must be eligible to open a Scotia iTRADE account, maintain all of your accounts at Scotia iTRADE in good standing, not be in a disallowed debit position and not have any outstanding margin calls due. This offer has no cash redemption. This offer cannot be transferred or combined with any other promotional offer (excluding Refer-A-Friend). Limited to one offer per client. In case of joint account only one account holder will be entitled to receive $6.99 pricing and cash back. Scotia iTRADE reserves the right to modify and/or cancel this offer at any time without notice in its sole discretion.

choclover wrote: ↑ Just curious what motivated you to make the switch from TDDI to itrade?

ksgill wrote: ↑ iTrade confirmed that they only reimburse transfer out fees for just 1 account. If you transfer 3 accounts with > 25,000 in assets, they will only reimburse one transfer out fee. Looks like i'll have to wait for one of those promotions before transferring my 4 accounts.

Arrgh wrote: ↑ iTrade has a more mature, consistent, stable platform than TD DI. iTrade also have much more experienced people when you call with issues/questions, TD DI has some decent reps, but far too many reps who don't know and either fake it or screw up. Maybe in a few years TD will catch up.

I had transferred multiple accounts from TD DI to iTrade. Each account was reimbursed the transfer fee. It is per account, not per client.

the amount of the transfer-in fee charged by another Canadian broker will be credited to your New Account (up to $150 per client) subject to Scotia iTRADE's receipt of the documentation evidencing such transfer-in fee.

ksgill wrote: ↑ How long ago did you make these transfers? Their policy states:

I called again and the rep confirmed that the maximum amount reimbursed is $150 unless you bring in a very large amount to get special consideration. He advised me to wait for one of their transfer in promotions so I don't have to pay transfer fees.