Investing

Withdrawal from TDDI TFSA, fee and turnaround time?

  • Last Updated:
  • Jul 9th, 2020 11:51 pm
[OP]
Deal Addict
Oct 3, 2004
2271 posts
282 upvotes
Calgary

Withdrawal from TDDI TFSA, fee and turnaround time?

HI guys, wondering anybody knows about the fee structure and turnaround time in case you need to withdraw from your TDDI TFSA account, say transfer to your TD chequing account?
Tried to google but have a hard time finding the answer somehow.
Thanks a lot.
4 replies
Deal Fanatic
Feb 4, 2015
8682 posts
4921 upvotes
Canada, Eh!!
Wait for someone with TDDI and TD account that has done to respond however it should be simple as transfer from TDDI TFSA [funds have to be in cash CAD I think] to TD bank acct. Should be instant or at least a business day.

Would think any fees would be mentioned on screen while doing transaction.

https://www.td.com/ca/en/investing/dire ... g/pricing/

TFSA withdrawals can be made online using WebBroker:

Click Transfer from the top right utility bar

Select the account to make your transfer from

Select an eligible account to transfer the money to

Enter the amount you wish to transfer

Review and confirm your transaction

TFSA withdrawals can be made at any time in the calendar year (subject to any withdrawal restrictions in the investments chosen).

Please note: Any amount withdrawn from a person's TFSA is added back to the person's TFSA contribution room in the next calendar year. Re-contribution to a TFSA of any withdrawn amount in the same calendar year on a tax-free basis can only be done if existing TFSA contribution room is available. There is no tax applied to TFSA withdrawals.
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Nov 3, 2008
301 posts
236 upvotes
National Capital Reg…
Instant during business hours and no fees. Delayed until morning of next business day when done off business hours (sometimes cash would shows as "available" in chequing right away, but transaction posting is delayed; never tried touching that cash until seeing actual deposit on ledger.)
Deal Addict
Dec 28, 2007
1122 posts
680 upvotes
Yup, withdrawal of cash is instant during business hours. If you want to do an in-kind withdrawal of some securities, then it will likely take a business day or two to process, also with no fees.
[OP]
Deal Addict
Oct 3, 2004
2271 posts
282 upvotes
Calgary
Thanks for the replies guys.

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