# TD - Direct Investing - fees on withdrawal?



## jargey3000 (Jan 25, 2011)

Just got off phone with TD DI. I wanted to withdraw the cash balance in my SDRSP. They advise there would be a $25 'de-registering fee' involved. When I balked, rep said she could waive half the fee. I said not good enough, get supervisor. Supervisor said sorry, that's all they can do. I commented that for the sake of $12.50 TD could well lose a long-time customer? sorry - no can do. Left things at that. Anyone have any comments?


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## Spudd (Oct 11, 2011)

It is their policy. If you don't want to pay the fee, you can open an RRIF and transfer the RRSP money over there, then withdraw from the RRIF for free. But then you have minimum annual withdrawals that must be made according to RRIF rules. 

I did a quick Google for you and it looks like Scotia also charges $25 and BMO charges $50. I'm too lazy to find out all the banks' policies but it seems like charging a fee is pretty standard.


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## jargey3000 (Jan 25, 2011)

tks spudd. anyone else.
another question: I have some investments (registered & non) with both TD & RBC DI. I've been thinking of consolidating them all at one bank - RBC. I haven't asked, but will RBC transfer my TD plans over 'in-kind' with NO FEES to me - in order to get 'my business'? Anyone have any experience doing this?


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## GreenAvenue (Dec 28, 2011)

TD rsp: leave about $5 in the account. That way: no fee. They will charge a fee but it's not going to be more than $5. $5 too much? Leave $3 in.


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## jargey3000 (Jan 25, 2011)

GreenAvenue said:


> TD rsp: leave about $5 in the account. That way: no fee. They will charge a fee but it's not going to be more than $5. $5 too much? Leave $3 in.


...hmmmm....hadn't thought of that......Might work?


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## GreenAvenue (Dec 28, 2011)

well you are not closing the account, I did it twice and it works. Lost my last $3 but hey...


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## jargey3000 (Jan 25, 2011)

...just tried that.... didn't work for me.... they will still charge me $25 to take out most , if not all MY MONEY ...;(
(this is a RRSP acct BTW... was yours?) (and, how did you 'lose' your 3 dollars?)


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## GreenAvenue (Dec 28, 2011)

The $3 was suppose to be for the maintenance fee. There wasn't any more in the account. At a later time I got it refunded when I started pouring money back into the account. Maybe it depends on the representative and the report you build up. I'm not the type asking for a supervisor and I am over $15,000 threshold. I am not paying any fees with TD (except with the bank).


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## Eclectic12 (Oct 20, 2010)

jargey3000 said:


> tks spudd. anyone else.


iTrade lists full or partial account transfer at $150 (posts say that most of the time, the fee is per account).

For a full RRSP deregistration it is $125 while a partial is $50.

I can't remember which ones but I recall some others being as high as $175 and $75.




jargey3000 said:


> another question: I have some investments (registered & non) with both TD & RBC DI. I've been thinking of consolidating them all at one bank - RBC. I haven't asked, but will RBC transfer my TD plans over 'in-kind' with NO FEES to me - in order to get 'my business'? Anyone have any experience doing this?


No personal experience but for some advice ...
http://www.canadiancapitalist.com/h...sfer-your-account-from-one-broker-to-another/
http://boomerandecho.com/breaking-isnt-hard-transferring-your-rrsp/


Cheers


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## livewell (Dec 1, 2013)

I came across this with TD last year. They do not charge for withdrawing from a RIF so this year I opened a RIF and transferred over my cash balance from the RSP which I am about to withdraw (Minus a little bit). Next year I will do the same. It was a bit of a pain to open the RIF as you have to actually visit a branch, but for $50 a year (I did the same for the wife's RSP) I will do that.


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## jargey3000 (Jan 25, 2011)

GreenAvenue said:


> The $3 was suppose to be for the maintenance fee. There wasn't any more in the account. At a later time I got it refunded when I started pouring money back into the account. Maybe it depends on the representative and the report you build up. I'm not the type asking for a supervisor and I am over $15,000 threshold. I am not paying any fees with TD (except with the bank).


I'm not closing acct. - just withdrawing $12k cash. I have over $200k with these guys.
they've made plenty $$$ on fees with me over 15+ years.
who's your rep? - maybe i'll call her/him!


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## jargey3000 (Jan 25, 2011)

FWIW .... I tried again this morning. Got another agent. Explained situation & size of my holdings, fees they've made off me over the years blah blah blah. Cordial chat. Rep agreed to waive the fee! (fee will show up on acct. , but she will put thru a credit reversal which she says will show up in a few days.) Yippee! Cubs win & I dodge the fee! All is right with the world again!  Thanks all.


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## kcowan (Jul 1, 2010)

jargey3000 said:


> I have some investments (registered & non) with both TD & RBC DI. I've been thinking of consolidating them all at one bank - RBC. I haven't asked, but will RBC transfer my TD plans over 'in-kind' with NO FEES to me - in order to get 'my business'? Anyone have any experience doing this?


I did this with Canaccord 2 years ago and TDDI agreed to pay any fees that CCD wanted.


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## humble_pie (Jun 7, 2009)

.

i'm surprised nobody has commented. The green nobs decided during the summer that the shop was giving away too much. Agents were being far too generous with far too many customers. Things had reached the point where all clients were expecting permanent waiiver of many posted fees, tch.

september was supposed to be a soft month chez le grand vert. Starting october agents were told to crack down. Go strictly by the rule book. If it says it's a fee, then it's a fee. No exceptions.

lambs upon the sacrificial altar are the sell sides of currency gambit trades. Clients have to phone an agent to get these done at the big green & in recent years the soft custom had become to charge a web commission.

but try one of those now & the agent will likely start a speech about full agent commish.

(re gambit trades, there is still a small back door which the big green hasn't figured out to close yet. Read my lines. It's the james4 short. Ssssshh.)


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