# TD RRSP account?



## chilly

In this (and other) thread I've read that TD offers to waive administration fees on the TFSA account if you sign up for eServices.

http://canadianmoneyforum.com/showthread.php?t=953

I'm a bit curious about this because I can't seem to find this described anywhere on the TD website. I was looking at the fee schedule here: http://www.tdwaterhouse.ca/trading/ascs.jsp#reg

Does the same apply to TD RRSP accounts? In other words, if I open a TD Waterhouse self-directed RRSP account and sign up for eServices, will the administration fee be waived?

And one last question: Are the TD eSeries funds available for purchase from self-directed RRSP accounts at TD? Or does the account have to be a TD Mutual Funds account?

Thanks for your help!


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## HaroldCrump

I have a TD RRSP eSeries only account and there are no fees.
I can buy any eSeries or other regular mutual funds in that account.
But it's a TD account and not a TD Waterhouse account so I can't trade non TD securities, stocks, bonds etc.


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## CanadianCapitalist

chilly said:


> In this (and other) thread I've read that TD offers to waive administration fees on the TFSA account if you sign up for eServices.
> 
> http://canadianmoneyforum.com/showthread.php?t=953
> 
> I'm a bit curious about this because I can't seem to find this described anywhere on the TD website. I was looking at the fee schedule here: http://www.tdwaterhouse.ca/trading/ascs.jsp#reg
> 
> Does the same apply to TD RRSP accounts? In other words, if I open a TD Waterhouse self-directed RRSP account and sign up for eServices, will the administration fee be waived?
> 
> And one last question: Are the TD eSeries funds available for purchase from self-directed RRSP accounts at TD? Or does the account have to be a TD Mutual Funds account?
> 
> Thanks for your help!


Yes, if you sign up for eServices, your TFSA admin fee will be waived. See this page:

http://www.tdwaterhouse.ca/apply/forms/521778.pdf

The waiver is not applicable to TD Waterhouse RRSP accounts.

e-Series funds are available at TD Waterhouse.


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## stardancer

My TD Waterhouse TFSA has fees waived as long as I am signed up for e-services (paperless).

My TD Waterhouse RSP used to have fees waived as long as the balance was over $25,000 (I think). However, they have just changed this to a $50/annual fee with no waivers, beginning March 2010. So I have to make sure there is $50 in the cash account for March.

I also have some non-registered mutual funds at TD at the branch level. Haven't received any correspondence about fees being charged, at least so far.


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## Cal

What?

As of March 2010, any RRSP self directed account will have a non waivable annual fee of $50.

Am I understanding this correctly?

As if they don't already make enough money off of us.


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## MoneyGal

I have a SDRRSP with TDW. I just received a pamphlet with an announcement of new fees, but (if I read the pamphlet correctly) I understood that the fee waiver continued for accounts over $25K. 

Did you receive any separate notification of this change? Or was it just the same pamphlet?


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## stardancer

MoneyGal said:


> I have a SDRRSP with TDW. I just received a pamphlet with an announcement of new fees, but (if I read the pamphlet correctly) I understood that the fee waiver continued for accounts over $25K.
> 
> Did you receive any separate notification of this change? Or was it just the same pamphlet?


My husband and I just received letters dated 30 Dec 2009 from TD Waterhouse, but our financial planner warned us this was coming.

"...the annual administration fee for registered accounts will be reduced from $100 to $50, starting March 15, 2010...any current fee waivers, on the basis of household or individual assets held in the accounts will no longer apply"

The type of registered accounts include: self-directed RSPs, self-directed RIFs, locked-in retirement savings plans, locked-in retirement accounts, locked-in retirement income fund, life income fund and prescribed retirement income fund.


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## Potato

Ouch, and I was just about to start an RRSP account, too.


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## MoneyGal

I don't have the letter, but will call TDW to confirm.

Who will bribe me to switch? (Not "which forum member," but what brokerage?)


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## FrugalTrader

Ouch... will the new $50 fee apply to TD e-series/mutual funds account?


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## Y&T2010

FrugalTrader said:


> Ouch... will the new $50 fee apply to TD e-series/mutual funds account?


Uh oh.. I hope not! =(


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## archanfel

I also got a letter from my financial planner and I sent an email to TD. They said for the self-directed RRSP account, they are still going to waive the fee if your balance is above $25,000. Same as before. At least for now.


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## CanadianCapitalist

archanfel said:


> I also got a letter from my financial planner and I sent an email to TD. They said for the self-directed RRSP account, they are still going to waive the fee if your balance is above $25,000. Same as before. At least for now.


I'm with TD Waterhouse now and that's my understanding as well. Chill out everyone. TD Waterhouse is *not* the same as TD Asset Management which also offers RRSP accounts.


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## MoneyGal

OK CC, but at least one poster earlier suggested this was coming from TDW. (I know the difference!)

I re-read my pamphlet and it is very clear that the fee waiver for my SDRRSP will continue.


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## CanadianCapitalist

MoneyGal said:


> OK CC, but at least one poster earlier suggested this was coming from TDW. (I know the difference!)
> 
> I re-read my pamphlet and it is very clear that the fee waiver for my SDRRSP will continue.


My comment on the difference wasn't addressed at you but at another post on whether the fees are applicable to TD Mutual Funds accounts. 

I concur that fee waivers for SDRRSP at TD Waterhouse are applicable as of today. Unless we hear otherwise from TDW, I'll assume that fees will be waived.

As an aside, I don't see how TDW can get away with imposing a SDRSP fee given the level of competition that exists in the discount brokerage space today.


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## cynicalinvestor

I got 'scared' too, after I read about the fee in 'Globe and Mail' '(about to transfer my non-RRSP to TD, but why not do it the other way round if they are going to charge a fee).

So even if I downloaded the TDW schedule and no fee, the same as before, I called TDW at 7:30 am (Saturday !!!) and the CSR did not know anything about the fee at that moment (of course he said that fees can change, so even if now there is none in 2 months time they could update the schedule, not very assuring, but what can you do ?)
Panicked for nothing, should have looked it up on Internet before, best explained here :



> To clarify the fee structure across all of TD Waterhouse (to the best of my knowledge):
> 
> Discount Brokerage
> $100 per registered plan, waived with a balance of $25K or more
> 
> Financial Planning
> $50 per registered plan, no fee waiver (used to be $100, waived at $25K account balance or $100K household)
> 
> Private Investment Advice
> $125 per registered plan, never was a fee waiver


However, the transfer I am planning makes me 'nervous' not that the fees are the cause I've lost so much money


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## Rickson9

Basic SDRSP

The TD Waterhouse Discount Brokerage Basic RSP* is a low-cost, self-directed plan designed to meet the needs of investors who want to hold some of the most popular registered plan investments. They include load and no-load mutual funds, GICs, money market instruments, Canada and Provincial savings bonds, corporate and government issued bonds, strip bonds, mortgage-backed securities and cash. However, you cannot hold equities, options or mortgages in the Basic RSP.

Your Basic RSP plan is administered by TD Waterhouse Canada Inc., which charges an annual administration fee of only $25 + GST or HST.

With either our Self-Directed RSP or our Basic RSP, maintain a minimum balance of $25,000 in your account and don't pay an administration fee! Waiver not applicable to clients electing to pay administration fee from outside their registered account.

* Refers to the TD Waterhouse Self-Directed Retirement Savings Plan.

http://www.tdwaterhouse.ca/services/assd.jsp


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## Cal

Just trying to figure out how much I might lose to the bank to set up a SDRSP that would hold some US equities.

I am assuming that the bank TDWaterhouse would require a US $ acct within the SDRSP, then when you convert the CDN$ to US$ you would lose a % or so (true or false), then you buy your equities, hold them for whatever period of time, then when you retire, and either sell or start to draw from the dividend income, TD would again get a % or so when it is converted to CDN$ again (true or false).

Obviously as of right now I only hold CDN equities in my SDRSP acct. 

Looking for more diversification, I just hate to lose a % on the front and back end to the bank. The TMX has lots of bank, energy, telcomm, but no solid health care stocks.

Thanks in advance.


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## Mockingbird

Cal said:


> Just trying to figure out how much I might lose to the bank to set up a SDRSP that would hold some US equities.
> 
> I am assuming that the bank TDWaterhouse would require a US $ acct within the SDRSP, then when you convert the CDN$ to US$ you would lose a % or so (true or false), then you buy your equities, hold them for whatever period of time, then when you retire, and either sell or start to draw from the dividend income, TD would again get a % or so when it is converted to CDN$ again (true or false).
> 
> Obviously as of right now I only hold CDN equities in my SDRSP acct.
> 
> Looking for more diversification, I just hate to lose a % on the front and back end to the bank. The TMX has lots of bank, energy, telcomm, but no solid health care stocks.
> 
> Thanks in advance.


You do not require USD Account to trade US stocks.
Only required amount of CAD is converted to USD to purchase your stock.
When you sell the stock, your account will automatically convert the net proceed of USD into the CAD fund.
Yes, you will pay conversion fees every time you buy/sell US stocks.

If you want to save on the exchange fees, try "wash" trade method that Canadian Capitalist wrote about in 2007.
http://www.canadiancapitalist.com/how-to-wash-your-trade/

Questrade offers USD RSP Account for those conversion fee haters.


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## Cal

Yeah...I am having a hard time deciding.

I would rather own a half dozen US equities....but to potentially lose 1% on either end for the transaction...almost...makes me wanna just get a low MER US equity fund. Almost.


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## 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


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## 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.


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## Free_Trade

*Source of Message*

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.


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## Doug Out West

Free_Trade said:


> 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.


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## 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!


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## 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.


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## OhGreatGuru

See this article http://www.moneysense.ca/2011/05/10/td-e-series-accounts-not-very-hard-to-set-up/

and this TD web page: http://www.tdcanadatrust.com/produc...ual-funds/td-eseries-funds.jsp?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.


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