Where to open TFSA

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May 7th, 2020 12:24 pm

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May 7th, 2020 12:49 am

dentalfloss [OP]: Newbie; May 23, 2017; 24 posts; 10 upvotes

May 7th, 2020 12:49 am

Where to open TFSA

Is there a reason to open a TFSA at one bank vs another?

I have money at TD, so I was thinking about opening a TFSA there. I'd like to get options contracts and US ETF's for the TFSA though, so not sure if that will be an issue at TD or if there is a better institution for that.

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May 7th, 2020 12:21 pm

lpin14: Deal Addict; Nov 24, 2013; 2068 posts; 1399 upvotes; Toronto

May 7th, 2020 12:21 pm

Opening at the same institution makes transferring funds between accounts a piece of cake. That's got to be weighed against the costs of investing through that particular institution though,

May 7th, 2020 12:24 pm

PrinceMS: Deal Fanatic; Jul 30, 2003; 6087 posts; 813 upvotes; Toronto

May 7th, 2020 12:24 pm

lpin14 wrote: ↑ Opening at the same institution makes transferring funds between accounts a piece of cake. That's got to be weighed against the costs of investing through that particular institution though,

Transferring funds in QT or wealthsimple is super simple as well. You just "pay a bill" to QT or Wealthsimple and its done!

Haven't taken money out - so can't comment on that.

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