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The TD website is pretty vague, and you have to dig a bit for information, and the redflag forum topic on this is a mess, with everyone giving conflicting advise.



What I want to do is open up a TFSA with the ability to purchase e series funds.

So from what i can gather:

1. an actual e series TFSA account is NOT available (RESP, RSP, and non registered only.) But.....

2. e series funds are available to TD waterhouse clients, and........

3. TD waterhouse has a TFSA account option, so.........

4. All I have to do is open up a TD waterhouse TFSA brokerage account which I can then purchase e funds. (as well as anything else just like my Credential Direct TFSA)

So, i phoned the 800 number just to confirm, and I was told that "you cannot open up a TFSA e series account".

I went through steps 1-4 on the phone and she just got more confused.

ANyway, did i interpret the website correctly?
 

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The TD website is pretty vague, and you have to dig a bit for information, and the redflag forum topic on this is a mess, with everyone giving conflicting advise.

What I want to do is open up a TFSA with the ability to purchase e series funds.

So from what i can gather:

1. an actual e series TFSA account is NOT available (RESP, RSP, and non registered only.) But.....

2. e series funds are available to TD waterhouse clients, and........

3. TD waterhouse has a TFSA account option, so.........

4. All I have to do is open up a TD waterhouse TFSA brokerage account which I can then purchase e funds. (as well as anything else just like my Credential Direct TFSA)

So, i phoned the 800 number just to confirm, and I was told that "you cannot open up a TFSA e series account".

I went through steps 1-4 on the phone and she just got more confused.

ANyway, did i interpret the website correctly?
I'm really curious as to what you find out. You may know this already but you can't actually open up a RESP account. You have to open a TD Mutual Fund RESP account and apply to convert it to a e-Series account. Perhaps, a TFSA account works in a similar manner. Anyone have actual experience with this?
 

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I was able to open an RRSP account online for e-Series.
Didn't have to convert from anything else.
I notice that it lets me buy regular mutual funds thorugh the same account as well.
I mostly hold e-Series though.
Not sure about RESP and TFSA.
 

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I have an e-series TFSA.

What I did was go into the bank to open a mutual fund TFSA, and I brought the "conversion to e-series" form in with me.

http://www.tdcanadatrust.com/mutualfunds/tdeseriesfunds/convert_acct.jsp

I filled in most of it before I went -- you just have to wait to fill out the account number at the top, which you will get upon opening the mutual fund TFSA. I handed the form to the TD finacial adviser to put in the inter-office mail and I was on my way.

The account was converted to e-series within 3 days.
 

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Discussion Starter #5
CC, you are correct. I downloaded the e series account application. RSP and non registered only.

For laughs I phoned the 800 number again.

If you want to buy mutual funds only you open a TD mutual fund account and then convert it to a TFSA.

If you want funds plus stocks, etc you open a brokerage account and then convert it to a TFSA.

TD if you are listening, you have a very confusing system.

When I opened a Credential Direct account I selected an account type, RSP, TFSA, RESP, etc. A non registered account was automatically set up. No conversion needed.
 

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I opened a TD Waterhouse discount brokerage TFSA and hold e-series funds in it. Normally the annual fee is $50/year, but this is waived if you sign up for the e-services plan. Basically, I receive statements and transaction confirmations in .pdf format through the website rather than in the mail.
 

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I have an e-series TFSA.

What I did was go into the bank to open a mutual fund TFSA, and I brought the "conversion to e-series" form in with me.

http://www.tdcanadatrust.com/mutualfunds/tdeseriesfunds/convert_acct.jsp

I filled in most of it before I went -- you just have to wait to fill out the account number at the top, which you will get upon opening the mutual fund TFSA. I handed the form to the TD finacial adviser to put in the inter-office mail and I was on my way.

The account was converted to e-series within 3 days.
I did the same as above. From what I had read it seemed to be the most painless way to do things.
 

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Having opened 2 TD e-Series accounts, I have learned that if you want to know anything about the e-Series funds, the worst thing you can do is to ask someone employed by TD... they just don't know anything about them.

I concur with the posters above. The easiest thing to do is visit a branch and open a TD mutual funds TFSA. Then fill out the form to convert your account to an e-Series account. I filled mine out right after opening the account and sent it by mail. It took about a week before I could start making purchases. When you are opening your account, keep in mind that you do NOT need to purchase any mutual funds, or transfer any money in at the time you open it. You can wait until it's been converted to e-Series before you transfer any money in.
 

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Are you required to pay a fee per transaction when the e-series index funds are held within the TFSA?
Nope.

Like the posters above, I opened a TFSA Mutual Fund account and then mailed in the e-series form. Bringing the form in to have them stick it in inter-office mail would have been even better, but mine took no more than a week.
 

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Thanks guys.

One other question - the only fees I can see that are associated with the TFSA e-series is the MER and the withdrawal fee of $25.00. Is there any other fees associated with it?

I feel this approach makes purchasing index funds very cost effective. That is until you have enough accumulated in your TFSA to transfer into an ETF (25k+).

Thanks.
 

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also, lets say i am doing an RESP with the e-series fund.
1) do they have a transfer out fee?
2) do they have the ability to automatically receive CESG?
 

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What if I already have a TFSA with CIBC, do I open a completely new TFSA with TD (making sure the combined contributions don't exceed the annual limit of course), or is there a way to put TD efunds in the CIBC TFSA?
 

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What if I already have a TFSA with CIBC, do I open a completely new TFSA with TD (making sure the combined contributions don't exceed the annual limit of course), or is there a way to put TD efunds in the CIBC TFSA?
TD efunds cannot be transferred to any other institution, as far as I know.
It is possible to transfer TFSA assets from one institution into another, in general, similar to an RRSP transfer.
You have to work closely with the recipient brokerage to make sure a proper transfer is executed to avoid over-contribution confusion.
If you have to have eFunds in TFSA, you will either have to do all your TFSA through TD or have multiple TFSA accounts.
 

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I opened a TD Waterhouse discount brokerage TFSA and hold e-series funds in it. Normally the annual fee is $50/year, but this is waived if you sign up for the e-services plan. Basically, I receive statements and transaction confirmations in .pdf format through the website rather than in the mail.
I just opened a TD discount brokerage TFSA accound as well, how did you manage to wave the 50$/year fee ? Is there any form to 'sign up for the e-services plan'
 

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Thanks guys.

One other question - the only fees I can see that are associated with the TFSA e-series is the MER and the withdrawal fee of $25.00. Is there any other fees associated with it?

I feel this approach makes purchasing index funds very cost effective. That is until you have enough accumulated in your TFSA to transfer into an ETF (25k+).

Thanks.
You get your first withdraw for free, per year. After that, fees apply for every withdraw.

DOn't forget, there is a 90 hold when you buy e-series. If you sell within 90 days, you pay 3% fee. ( I believe this is called front or rear load fee?)

There is a nasty closing account fee of like $125 (approx, not sure exact amount) and also transferring TFSA to TFSA while sheltered is another nasty fee. Waterhouse is high in these fees.

You can make ETF's portfolio work using much less than 25k by using Questrade and Vanguard ETFs. Questrade let's you hold USD in RRSP, so it's good for that anyway.
 

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So why the heck does TD not allow someone to open an e-series TFSA over the web, they way they allow an RRSP? Do they not want people doing this for some reason?
 

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So why the heck does TD not allow someone to open an e-series TFSA over the web, they way they allow an RRSP? Do they not want people doing this for some reason?
Becuase they want to to visit an advisor in the bank that will sell you 3%MER mutual funds instead?
 
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