TD RRSP account?

[Doug Out West]

new at TDW

"U.S. Dollar Investing in your TD Waterhouse RSP Account


Did you know that TD Waterhouse offers you the convenience of U.S. dollar investing in Canadian registered accounts , such as your Self-Directed RSP or Tax-Free Savings Account?

Here's How It Works

You can invest in U.S. dollars in your registered account by owning units of the TD U.S. Money Market Fund (symbol TDB166). This is a safe, secure fund which allows you to access your U.S. cash quickly with only 1 day settlement.

You can also use your U.S. Money Market Fund to settle the purchase of a U.S. security (or vice versa). Simply place your order to buy or sell a U.S. security using WebBroker. Once your order is filled, call an Investment Representative at 1-800-465-5463 to buy or sell sufficient units of your U.S. Money Market Fund. Our representative will then set the exchange rates for both transactions to be equal - eliminating the impact of a currency conversion.

You must call by 3:00 p.m. ET on the first business day after your order is filled. Our representatives are available to assist you 24 hours a day , seven days a week.

Furthermore, TD Waterhouse will automatically set the exchange rates to be equal when you buy and sell U.S. securities on the same day.

By following these tips you can take advantage of investing in Canadian and U.S. securities, all in one convenient account."

So a bit of a hassle that have to phone but will save exchange

[CanadianCapitalist]

I can confirm that TD Waterhouse "wash trading" works as advertised. If you buy and sell US dollar stocks on the same day, you don't even have call in to do a "wash" trade. TD Waterhouse automatically sets the buy and sell exchange rates to be equal, effectively eliminating foreign exchange conversion charges. To qualify, the buy and sell must be done on the same day.

If you want to sell US stock and buy later, you'll have to wash the proceeds into the TD USD Money Market Fund by calling after you made your trade as outlined in my post.

[Free_Trade]

Hi Doug_Out_West,

Where did you get this message from? Was it an email from TD Waterhouse? I do not see this message on their website. Thanks.

[Doug Out West]

Hi Doug_Out_West,

Where did you get this message from? Was it an email from TD Waterhouse? I do not see this message on their website. Thanks.

Well , offhand I don't remember but I'm pretty sure it was on the TD Waterhouse site. I haven't used it as I get pretty big cheques in US funds which I put in my US$ account. I buy a US stock there and transfer the stock into RRSP.

[corkboard]

Sorry to dig up an old thread; could not find the exact information I was looking.

I have some e-series funds in a TD Mutual Funds account; it's a non-registered account, I don't believe I pay fees to maintain it (less than $5k in the account), and it's not with TDW

I would like to convert it to an RSP account; I'm not interested in holding anythings else other than the e-series funds for now

I haven't been able to confirm that the TD e-series funds accounts (RSP, Registered) has no fees. I haven't been able to find a clearly listed page or table which tells me if there are fees associated with a registered e-series funds account.

The best I have been able to find from TD's website is here

I have been to 3 different branches, and none of the advisers know anything about a registered e-series funds account

Would anyone happen to know if there are fees associated with the Registered account?

Thanks!

[stardancer]

A few years ago, TD started charging $50/year for the self-directed RSP/RIFs; can't remember if that was on accounts more than $25,000 or on all RSP/RIF accounts.

You would have to open a self-directed RSP and transfer the e-series from the non-registered to the registered account in kind. Or open an RSP with TDW and purchase the e-series funds through them. I find the branch staff have difficulty getting their heads around the e-series; they may not be authorized to deal with those funds. The only way I could buy an e-series fund was through TDW held in my TFSA.

[OhGreatGuru]

See this article http://www.moneysense.ca/2011/05/10/...ard-to-set-up/

and this TD web page: http://www.tdcanadatrust.com/product...tab=what-is-it

From the article and other posts it seems TD Branch staff are not very helpful in setting up e-fund accounts. But then the whole purpose of efunds is to cut out the overhead of the branch personnel isn't it?

Since you already have a non-registered account with efunds, I suggest you call the number and ask how to change/transfer it to a registered account.