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Has anyone done this?? How can it be done while still keeping the funds sheltered in the TFSA without actually withdrawing it? I currently have the e-transfer setup with my chequing account, but i don't know how to set it up with my TDW TFSA account...

Eventually as i save up money in the ING Savings account (3%), i'd like to transfer it to the TDW so that i can invest it in stocks and whatnot...
 

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That should be a question for TDCT or TDW staff.

TDCT recently helped me to consolidate an assortment of holdings into two SDRSPs at TDW. One is locked in, one not. So now I have everything at TDW and I can take advantage of the discounts to trading and other fees. They did this for nothing. Maybe they will do the same for a TFSA.

My wife and I each have a trading TFSA at TDW too. I enjoy the flexibility. I am setting up mine for play - micro, small and mid cap income trusts; and hers for stability - defensive dividend aristocrats.
 

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Presumably the process is similar to transferring between RRSP accounts. Based on what you have described, I would advise against trying to do regular transfers between your TFSA accounts because any cross-institutional registered account transfers are a pain in the neck, and may take weeks to fully transfer. It would be much easier to save up funds in a non-registered account with TD and then contribute the funds to your TDW account from there.
 

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Non-Registered Account at TD pay nothing for returns... atleast at ING you get 3%... a little of something is better than nothing while your money is parked... My plan is to use the ING TFSA to save up during the year, then use the funds to re-balance my portfolio on an annual basis... i guess i'll just call them...
 

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That is what I do as well

To make things simple I withdrew all my TFSA from ING in Dec and then deposited it into my brokerage in Jan

Transferring from one institution to another leaves your money at their mercy for who knows how long
 

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wonger, you will be extremely disappointed when ING suddenly changes their 3% savings rate...you may want to diversify some of those holdings into their index funds which is easy to do. especially this week when the markets will snap lower and give you an excellent opportunity to buy lower...
 

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w0nger,

I am merely speaking from my experience of working in a brokerage back office, in which I had the dubious honour of depositing the transfer cheques from other financial institutions. Having met people working in the brokerage's transfers department, I felt glad that I didn't have the job of tracking and verifying account transfers. Transferring funds between registered accounts at separate institutions is an error-prone, bureaucratic bottleneck from the institutions' side. On the customer's side it is merely a drawn out annoyance. I'm not sure how much you think your time is worth in terms of interest, but if it were me, I wouldn't want to deal with the hassle of initiating and signing off on account transfers on a regular basis.
 

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length of time noted... i'll keep it in mind too... thx... i only wish that TD had a savings vehicle that paid out 3% while i wait for a lump sum investment...
 

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Has anyone done this?? How can it be done while still keeping the funds sheltered in the TFSA without actually withdrawing it? I currently have the e-transfer setup with my chequing account, but i don't know how to set it up with my TDW TFSA account...

Eventually as i save up money in the ING Savings account (3%), i'd like to transfer it to the TDW so that i can invest it in stocks and whatnot...
I haven't transferred an account but last year, I withdrew cash from an ING Direct TFSA and opened a new Ally TFSA in the new year.

I later learnt that ING Direct allows you to transfer TFSA to another institution without charging a fee. I haven't personally done a transfer though but if I were you I'd make a quick call to ING to find out.
 

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Has anyone done this?? How can it be done while still keeping the funds sheltered in the TFSA without actually withdrawing it? I currently have the e-transfer setup with my chequing account, but i don't know how to set it up with my TDW TFSA account...

Eventually as i save up money in the ING Savings account (3%), i'd like to transfer it to the TDW so that i can invest it in stocks and whatnot...
I haven't done it but I know you can do a transfer between TFSA accounts and it won't affect your contribution room.

Assuming it is the same process as an RRSP transfer then you need to contact the "to" institution. Tell them what you want to do, they'll have you fill out a form which will include your ING info and then they will send the request to ING who will transfer the account to TD.

All institutions "allow" this but as Ram mentioned, I think ING will do this for no charge (which I don't expect them to do forever).
 
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