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[TD Bank] Contribute $1,000 to a new RSP. Get $100

  • Last Updated:
  • Feb 5th, 2020 12:32 pm
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Nov 25, 2003
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Don't see a way to do it online, without calling/visiting the Bank..?
"A fool and his money are soon parted" Thomas Tusser (1524-1580)
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Nov 25, 2003
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akaManny wrote: Agreed, it may not be worth the trouble, but there will be no fee for making your annual RRIF withdrawal. There is no minimum age to convert the $1100 RRSP to a RRIF, which I plan to do.
And how much would TDB actually charge for opening/keeping RRIF??? $25/Quarter or more??
"A fool and his money are soon parted" Thomas Tusser (1524-1580)
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Mar 8, 2013
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max011 wrote: And how much would TDB actually charge for opening/keeping RRIF??? $25/Quarter or more??
My understanding is that the $25/Quarter applies only to TD Direct, not TD Canada Trust (GICs / Savings).
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akaManny wrote: My understanding is that the $25/Quarter applies only to TD Direct, not TD Canada Trust (GICs / Savings).
I believe the most financial institutions have fees for opening RRIF... that's their last chance to grub your monies before you take it out....
"A fool and his money are soon parted" Thomas Tusser (1524-1580)
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Mar 8, 2013
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max011 wrote: I believe the most financial institutions have fees for opening RRIF... that's their last chance to grub your monies before you take it out....
Thanks, I definitely will ask before I open a RRIF. There was no such fee for the RRIFs I have opened with Hubert, Oaken, and BMOIL.
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Apr 2, 2016
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$135 fee to transfer the RRSP out. This deal is cold as ice.
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Nov 25, 2003
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BrianWS6 wrote: $135 fee to transfer the RRSP out. This deal is cold as ice.
Actually, talked to TD Bank today. The transfer [to another bank] fee is $75. Just withdrawal is $50.

There are some ways to take monies out for free, but it requires lot of work [switching accounts around and such...]

Worth only if you badly need to lower last years taxes...
"A fool and his money are soon parted" Thomas Tusser (1524-1580)
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Jul 5, 2017
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Extremely easy setup process, I got mine done in and out at a downtown branch in 15 minutes and got a free $100 out of it to invest for retirement essentially. Not sure why people are worrying about taking it out, it's an RRSP. Where would you take it out to that would do better enough override a 10% head start return on $1k towards retirement? Plus TD has some decent investing solutions that you can do with the account. Some of their five-star funds over the past 20 years since 1999 have well outperformed how several model CCP portfolios have done. It's not like there's a barren wasteland in there to put your $1100 in.
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Feb 12, 2004
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G0DKING wrote: This offer was allegedly extended; anyone have any promo material for it
I just came back from the branch. They showed me the "Wave 2 Offer" is extended from Mar 8 to Jun 28, 2019. But it's only on their internal website, not sure why it's not publicly posted. I opened both RSP and TFSA, each is supposed to get $100 by Jan 2020.
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Aug 17, 2008
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Has anyone received their $100 bonus yet?
The Golden Rule: those who have the gold, make the rules
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Mar 23, 2011
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So a couple of weeks ago I received my $100 bonus. I had in the spring opened a new TD DI account and got a RRSP GIC which qualified me for the $100 bonus.
The question I have is that since that $100 was deposited into my RRSP account, if I want to max out my RRSP contributions for this year does that $100 count towards my max limit?

To clarify further, my max contribution amount is for 2019 is $19,100. If I contribute $19,100 into the RRSP account that TD deposited $100, will the CRA look at that as a $19,200 contribution and penalize me for over-contributing, or can I put in $19,100 without a penalty because TD paid me that $100 bonus?
Alex
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Dec 9, 2014
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sherman51 wrote: So a couple of weeks ago I received my $100 bonus. I had in the spring opened a new TD DI account and got a RRSP GIC which qualified me for the $100 bonus.
The question I have is that since that $100 was deposited into my RRSP account, if I want to max out my RRSP contributions for this year does that $100 count towards my max limit?

To clarify further, my max contribution amount is for 2019 is $19,100. If I contribute $19,100 into the RRSP account that TD deposited $100, will the CRA look at that as a $19,200 contribution and penalize me for over-contributing, or can I put in $19,100 without a penalty because TD paid me that $100 bonus?
For the TFSA promo: the Award is paid directly into the New TFSA and is not considered to be a contribution
I imagine the RRSP promo is the same

Can you copy/paste the wording for the deposit of the $100 bonus
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Mar 23, 2011
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G0DKING wrote: For the TFSA promo: the Award is paid directly into the New TFSA and is not considered to be a contribution
I imagine the RRSP promo is the same

Can you copy/paste the wording for the deposit of the $100 bonus
If I had the exact wording I probably would have the answer to the question but the original link is now gone.
Alex

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