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Gotta hit that monthly product quota.
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Sep 25, 2013 17:28
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| # ¿ May 2, 2024 06:36 |
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Anybody have any advice/recommendations for changing banks? I signed up with TD when I was 14 because they were right by my house, but their savings interest rates/chequing account conditions are absolute poo poo (customer service/branch hours is excellent though) and I'm tired of leaving money on the table for no reason. Is it as easy as walking into another bank and telling them I want to transfer everything over, going to TD and telling them I'm leaving, and then it's done?
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Sep 25, 2013 18:01
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I'm just thinking from a day-to-day banking level. Right now I have a choice to either pay $10/month for my chequings account or never dip below a $2500 balance. When I look at throwing a downpayment out there, $2500/$10 a month is not substantial but it's still $2500/$120 a year. I organize my budget via savings accounts, so I have multiple accounts making 0.35% and when I look at something like ING, I could be getting 1.35%. I'm not in a place where I'm looking at long-term investing just yet, aside from my RSP match through work. As I get my mortgage situation handled and finalized, I'm just trying to streamline my day-to-day banking so I can get the best return. Then I can mess around with investment options. reflex fucked around with this message at 18:32 on Sep 25, 2013 |
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Sep 25, 2013 18:19
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How easy is it to transfer money cross-institution? The closest ING ABM is a 5min walk from work, but a 30min drive from home. If I need money on the weekend, the only real option I have is transferring cash to my TD account and using my TD debit card to withdraw that, right? That surely would take a couple business days? EDIT: How does ING make money? There surely is some bs cash grab somewhere in there, right? reflex fucked around with this message at 19:35 on Sep 25, 2013 |
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Sep 25, 2013 19:26
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Do you goons transfer money between your ING and other banks? How long does it take for that transfer to be recognized?
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Sep 25, 2013 20:53
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I have a general question for you Canadian money wizards: how cautious is too cautious when dealing with real estate? In my mind, I want to have a $55,000 for downpayment/realtor costs/associated costs/minimal furniture + $25,000 in liquid funds for emergencies. But there is no way in hell everyone who buys an apartment/condo is just rolling in to the bank with 75-80 large in liquid funds, right? How do people afford to own?
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Sep 25, 2013 23:20
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I have six months of expenses holed up, but keeping it completely liquid is only getting me 1% interest. Is it a bad idea to keep one month completely liquid and invest the other five in low-to-moderate risk portfolios to try and get a little more? My ultimate plan would be if life went sideways, live on the one month money while I withdraw the other five.
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Nov 4, 2013 17:02
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Here's a general TFSA question: let's say I've maxxed it out and thrown $25,500 in there. I have a good year and end with a 5% return so my TFSA is now at $26,775, but then something happens and I have to withdraw it all. Once January 1 rolls around, is my contribution limit $25,500 + $5,500 or $26,775 + $5,500?
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Nov 7, 2013 16:11
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Tax Efficiency Question (line 330): According to the CRA, you can claim eligible medical expenses paid in any 12-month period ending in 2013 and not claimed for 2012. Generally, you can claim all amounts paid, even if they were not paid in Canada. As I did not hit the minimum threshold in 2013 medical expenses to warrant a tax break, can I wait until next year and claim all my 2013 and 2014 medical expenses on my 2014 return, thus giving me 24 months to hit the minimum threshold? The way I interpret "any 12-month period ending in 2013" implies that anything from January 1, 2013 would be fair game on my 2014 return.
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Apr 19, 2014 06:33
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That makes a lot more sense. I felt like I was missing something and that was it. Still have to start documenting my medical expenses in a central place so I can pick out the best 12-month period for next year though. Thanks!
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Apr 19, 2014 06:52
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Am I going to cause a ruckus if I open a second TFSA savings account and transfer money from one to the other? They will both be through TD and I will directly transfer the money from TFSA to TFSA. I just want to create some mental seperation between my 6 month seatbelt and my downpayment savings.
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Apr 22, 2014 16:31
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By "transfer" I meant a transfer via TD's easyweb. It takes the money from one account, throws it to another. No cash, doesn't hit some middle account. Just account to account. TFSA 1 -> TFSA 2. But by the amount of  s, it sounds like I should just go in and talk to my branch first.
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Apr 22, 2014 17:38
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I want to open a TFSA TD e-series to start dabbling in the couch potato models. I do all my banking through TD and my 1% TFSA savings account has no more contribution room until January 1. Here is how I understand it to work. Can somebody please correct me where needed? 1. Go to TD branch, open a TFSA mutual fund account. Do not buy any funds yet. 2. Fill out the account transfer form and mail it in. In a week or so my TFSA mutual fund account will be converted into a TFSA e-series. 3. I can then use the money in my 1% TFSA to start purchasing products for my TFSA e-series. Would this count as a TFSA to TFSA transfer, or would it count as a withdrawal and deposit elsewhere (leading to over contributions)? I assume this is all handled over EasyWeb?
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May 26, 2014 22:36
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Is there a minimum age to turn an RSP in RRIF?
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Jun 17, 2014 15:05
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Is there a logical reason to put more than 20% down on a house? At 20% you don't need mortgage insurance, but beyond that it seems you would come out ahead if potential investments can beat your mortgage rate (at current rates that doesn't seem impossible). Then only reason I can think of is that you really hate having a mortgage.
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Jun 19, 2014 15:43
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Aagar posted:So NewsTalk 1010 was discussing the new ORPP being rolled out by the OLP (2017 is the start date), and just making GBS threads all over it. "Forcing people to save" (how terrible!), "People need that money for gas and stuff" (... okay?), and just treating it like it will be a huge hardship while we are being further coddled by the nanny state. At the surface it just sounds like a supplemental provincial CPP. Government takes money now in the expectation you'll get money later. I would love to opt out of CPP and EI though.
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Jul 31, 2014 20:59
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Looking to open some TD eSeries on the personal TD account. I want to open three total: TFSA, RSP, and straight unregistered. From what I understand, all I need to do is set up an appointment at my local branch, answer all the questions like I'm baller so they don't limit what stock:bond allocation I can buy, mail in the eSeries conversion forms, and wait a couple weeks. I'm just surfing through the RedFlagDeal eSeries thread and there's a lot of talk about administration fees, etc. I thought it was just low MERs and everything else doesn't cost, unless you're getting pegged for early withdrawls. Can anyone with eSeries confirm?
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Aug 7, 2014 22:10
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And then if I ever need to withdraw that money for whatever reason, I can set up the TFSA eSeries to dump into my TFSA savings account, and likewise RSP eSeries --> RSP Daily Savings Account?
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Aug 7, 2014 22:35
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Fair enough. A thing that pops up over and over from what I read is that eSeries are not customer friendly at all and you kind of have to figure everything out yourself. I think it'd fair to expect a certain decline in customer service if you're paying lower fees though. EDIT: Also transferring from TD TFSA Savings Account to TD eSeries TFSA doesn't count as withdrawing from TFSA to buy back in, correct? i.e. no contribution room is lost for the year. reflex fucked around with this message at 23:10 on Aug 7, 2014 |
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Aug 7, 2014 23:08
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reflex posted:Also transferring from TD TFSA Savings Account to TD eSeries TFSA doesn't count as withdrawing from TFSA to buy back in, correct? i.e. no contribution room is lost for the year. I am on the phone with e-Series right now and this is not the case. I am being told e-Series accounts can only be linked to my main chequings account. They can transfer RSP savings account --> RSP e-Series over the phone, but I'm being told TFSA savings account cannot transfer to TFSA e-Series. I have to withdraw the TFSA amount, wait until January 1, and then transfer from chequings back into TFSA e-Series. Has this been everyone's experience?
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Aug 25, 2014 16:18
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I went to set up mutual funds with TD a handful of weeks ago. They pushed regular contributions hard, but I was to get away without it. They did require a minimum $100 initial contribution though. Your friends can probably just cancel the autopay with a phone call to TD Investment Services if the branch rep was a little pushy.
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Sep 1, 2014 04:20
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National Post is reporting Harper is going to jack up the TFSA limit to $10g/year. Party time!  http://news.nationalpost.com/2014/10/03/harper-government-to-hand-voters-spring-tax-cuts-aided-by-shrinking-federal-deficit/
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Oct 3, 2014 15:39
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How do RESP withdrawls work? I was talking with a bud about paying for future kid's school, etc. and he had a really good idea of having the kid pay for post-secondary upfront, and then reimbursing the kid upon good grades. Would that be something you can do with RESPs?
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Oct 6, 2014 15:18
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He didn't mention RESPs at all--I'm just branching out to see if such a thing would be possible with RESPs because I agree with him in not blindly paying for a kid's post secondary. And clearly it's not.
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Oct 6, 2014 21:02
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Olive Branch posted:Indeed, this is my fifth month investing ever and seeing my numbers in parentheses (is that how Questrade indicates negatives?) for the past few weeks has been an exercise in remembering not to touch my stuff!  selling when it's low to save what they can, but when it's my actual money, a little bit of self preservation does kick in.
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Oct 15, 2014 22:04
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To open e-series, you have to open a regular mutal funds account for every type of account you want. So if you want RSP, TFSA, and non-registered e-Series accounts, you have to open a regular mutal funds account for each (so three total). You then must complete this form for each of the accounts to convert them into e-series. Mail them in. You will know the conversion has gone through when the branch number for the account changes to 2378 (you can easily see these branch numbers in EasyWeb). You now have access to e-funds when purchasing mutual funds. EDIT: Also it seems YMMV depending on the person at your bank, but mine made me commit either a $25/month ongoing contribution to each account or initial $100 contribution to open each account. I have heard of people not having to contribute anything, and some who were forced to put some money down. reflex fucked around with this message at 15:33 on Oct 23, 2014 |
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Oct 23, 2014 15:31
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| # ¿ May 2, 2024 06:36 |
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I currently do all my banking with TD (including one visa). Thinking of getting a Scotia Bank Visa because the rewards would get be another $200/year for continuing to use my credit card to buy everything (and paying it back monthly of course). I am also looking to buy a house in the short to mid future (5-10 years) so credit is important. What would I do with my TD Visa? Just leave it open, close it? I've never worried about credit score before so I'm not really sure what to do. I've also had this one visa card for six years (my only credit card ever).
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Oct 23, 2014 16:29
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