[urvan99]

I opened beginning of TFSA with Canadian Tire which i made the mistake and put maximum amount.
I called canadian tire 1 month ago and want transfer money to other bank where i can buy and sale the stock but canadian tire bank going to charge me $50 for that to transfer account as per they said it's Govt. fees.
Not sure if same thing happen to with any one?
I am not getting any benefit of my TFSA just montly hardly $5 per month after put $5000 at canadian tire.
Please advise what should ihave to do.

Thanks,

 

[CanadianCapitalist]

If Canadian Tire doesn't charge a withdrawal fee, here's what you can do. Wait until December, withdraw from your TFSA. Then open another account in January 2010 and deposit whatever amount you withdrew.

I can't comment on what you should do with your TFSA. Some use it for holding investments, some for their savings.

 

[high octane]

I don't think it's a government fee

ING and BMO have no transfer fees, everyone else charges $25-$100. Just another questionable bank fee

 

[GregR]

I had just registered for a TFSA in April and transfered some of my depreciated stocks into it. I just recently cashed out the stock at a good profit and withdrew the money. I can say for certain that I was not charged any Gov't fees when I withdrew money.

 

[sprocket1200]

there are no gov't fees, but this does point out the importance of doing good homework.

ING has just done their double interest on 2010 TFSA accounts again. Currently the interest is lower than last year, but I expect that to change