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I do my saving through ING. Before I had different savings accounts set up for different goals (emergency fund, utilities, Christmas, etc). I would like the savings that will sit there for awhile to sit in a TFSA - might as well. As long as I don't go over the max contribution for the year, can I open several TFSAs with ING or do I have to lump all my savings together in one account?
 

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ING does not charge a fee for the TFSA.

And as CC says, you can have as many TFSAs as you like, the golden rule being that you cannot deposit more than $5000 in total this year.

Also, if you take money out this year, you cannot top it up back to $5000. So, if you have $5000 sitting in there, take out $3000, you cannot put in another $3000 at a later date to bring the balance back to $5000. As I learnt the hard way...

Next year (and subsequent years) you are able to deposit up to the cumulative limit. So next year, I would be able to replace the $3000 as well as deposit $5000.
 

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Yes we can open more than one TFSA accounts but we have to follow contribution limit for example you have $5000 maximum contribution limit for a year it means you can hold two accounts of one $3000 and $2000.It means your combined TFSA amount should not be greater than $5000.
 

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Not quite. Your combined TFSA contribution amount cannot exceed 5k. Obviously the amount in your TFSA accounts can exceed 5k at any given time.
 
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