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Ideal TFSA transfer out fee?
January 8, 2020
6:26 am
dommm
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Does anyone know if there is a transfer out fee on Ideal TFSA accounts? I have been on their website & can't find their fee schedule. I have googled the question & can't find the answer. If it makes sense I plan on transferring my TFSA from Ideal to a TFSA savings account I have with Motive because Motive's interest rate is 2.40% & Ideal's is 2.31%. The only reason for me not to do this is if there is a transfer fee involved that would make this move cost prohibitive. Thanks

January 8, 2020
6:57 am
Shawguy
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January 8, 2020
8:53 am
dommm
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Shawguy said
$50

https://idealsavings.ca/extras/fees/  

Thanks Shawguy, I put "fees" in the FI search box & did not get your link. Not sure where I went wrong but thanks again.

January 10, 2020
3:50 pm
dougjp
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$ 5- fee if withdrawing funds which is not that hard to take (about the annual difference between 2.31% and 2.4% on $ 5,500-), so, remember that come December if they aren't competitive, and leave $ 0.01 there. 🙂 All TFSA savings account moves happen in December by withdrawing and redepositing in January.

"Keep your stick on the ice. Remember, I'm pulling for you. We're all in this together." - Red Green

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