# Anybody have a TD e series TFSA? How did you do it?



## bean438 (Jul 18, 2009)

The TD website is pretty vague, and you have to dig a bit for information, and the redflag forum topic on this is a mess, with everyone giving conflicting advise.



What I want to do is open up a TFSA with the ability to purchase e series funds.

So from what i can gather:

1. an actual e series TFSA account is NOT available (RESP, RSP, and non registered only.) But.....

2. e series funds are available to TD waterhouse clients, and........

3. TD waterhouse has a TFSA account option, so.........

4. All I have to do is open up a TD waterhouse TFSA brokerage account which I can then purchase e funds. (as well as anything else just like my Credential Direct TFSA)

So, i phoned the 800 number just to confirm, and I was told that "you cannot open up a TFSA e series account".

I went through steps 1-4 on the phone and she just got more confused.

ANyway, did i interpret the website correctly?


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## CanadianCapitalist (Mar 31, 2009)

bean438 said:


> The TD website is pretty vague, and you have to dig a bit for information, and the redflag forum topic on this is a mess, with everyone giving conflicting advise.
> 
> What I want to do is open up a TFSA with the ability to purchase e series funds.
> 
> ...


I'm really curious as to what you find out. You may know this already but you can't actually open up a RESP account. You have to open a TD Mutual Fund RESP account and apply to convert it to a e-Series account. Perhaps, a TFSA account works in a similar manner. Anyone have actual experience with this?


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## HaroldCrump (Jun 10, 2009)

I was able to open an RRSP account online for e-Series.
Didn't have to convert from anything else.
I notice that it lets me buy regular mutual funds thorugh the same account as well.
I mostly hold e-Series though.
Not sure about RESP and TFSA.


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## JC NewGrad (Jun 2, 2009)

I have an e-series TFSA.

What I did was go into the bank to open a mutual fund TFSA, and I brought the "conversion to e-series" form in with me.

http://www.tdcanadatrust.com/mutualfunds/tdeseriesfunds/convert_acct.jsp

I filled in most of it before I went -- you just have to wait to fill out the account number at the top, which you will get upon opening the mutual fund TFSA. I handed the form to the TD finacial adviser to put in the inter-office mail and I was on my way. 

The account was converted to e-series within 3 days.


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## bean438 (Jul 18, 2009)

CC, you are correct. I downloaded the e series account application. RSP and non registered only. 

For laughs I phoned the 800 number again. 

If you want to buy mutual funds only you open a TD mutual fund account and then convert it to a TFSA. 

If you want funds plus stocks, etc you open a brokerage account and then convert it to a TFSA. 

TD if you are listening, you have a very confusing system. 

When I opened a Credential Direct account I selected an account type, RSP, TFSA, RESP, etc. A non registered account was automatically set up. No conversion needed.


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## Robillard (Apr 11, 2009)

I opened a TD Waterhouse discount brokerage TFSA and hold e-series funds in it. Normally the annual fee is $50/year, but this is waived if you sign up for the e-services plan. Basically, I receive statements and transaction confirmations in .pdf format through the website rather than in the mail.


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## Steve19 (Jun 29, 2009)

Are you required to pay a fee per transaction when the e-series index funds are held within the TFSA?


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## redac (Nov 12, 2009)

JC NewGrad said:


> I have an e-series TFSA.
> 
> What I did was go into the bank to open a mutual fund TFSA, and I brought the "conversion to e-series" form in with me.
> 
> ...


I did the same as above. From what I had read it seemed to be the most painless way to do things.


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## ChrisR (Jul 13, 2009)

Having opened 2 TD e-Series accounts, I have learned that if you want to know anything about the e-Series funds, the worst thing you can do is to ask someone employed by TD... they just don't know anything about them.

I concur with the posters above. The easiest thing to do is visit a branch and open a TD mutual funds TFSA. Then fill out the form to convert your account to an e-Series account. I filled mine out right after opening the account and sent it by mail. It took about a week before I could start making purchases. When you are opening your account, keep in mind that you do NOT need to purchase any mutual funds, or transfer any money in at the time you open it. You can wait until it's been converted to e-Series before you transfer any money in.


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## Northern Engineer (Apr 3, 2009)

Steve19 said:


> Are you required to pay a fee per transaction when the e-series index funds are held within the TFSA?


Nope.

Like the posters above, I opened a TFSA Mutual Fund account and then mailed in the e-series form. Bringing the form in to have them stick it in inter-office mail would have been even better, but mine took no more than a week.


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## Steve19 (Jun 29, 2009)

Thanks guys.

One other question - the only fees I can see that are associated with the TFSA e-series is the MER and the withdrawal fee of $25.00. Is there any other fees associated with it?

I feel this approach makes purchasing index funds very cost effective. That is until you have enough accumulated in your TFSA to transfer into an ETF (25k+).

Thanks.


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## rookie (Mar 19, 2010)

can we set up PAD from other bank accounts for these e-series funds?


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## rookie (Mar 19, 2010)

also, lets say i am doing an RESP with the e-series fund. 
1) do they have a transfer out fee?
2) do they have the ability to automatically receive CESG?


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## Sherlock (Apr 18, 2010)

What if I already have a TFSA with CIBC, do I open a completely new TFSA with TD (making sure the combined contributions don't exceed the annual limit of course), or is there a way to put TD efunds in the CIBC TFSA?


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## HaroldCrump (Jun 10, 2009)

Sherlock said:


> What if I already have a TFSA with CIBC, do I open a completely new TFSA with TD (making sure the combined contributions don't exceed the annual limit of course), or is there a way to put TD efunds in the CIBC TFSA?


TD efunds cannot be transferred to any other institution, as far as I know.
It is possible to transfer TFSA assets from one institution into another, in general, similar to an RRSP transfer.
You have to work closely with the recipient brokerage to make sure a proper transfer is executed to avoid over-contribution confusion.
If you have to have eFunds in TFSA, you will either have to do all your TFSA through TD or have multiple TFSA accounts.


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## patmanz (Jul 26, 2010)

Robillard said:


> I opened a TD Waterhouse discount brokerage TFSA and hold e-series funds in it. Normally the annual fee is $50/year, but this is waived if you sign up for the e-services plan. Basically, I receive statements and transaction confirmations in .pdf format through the website rather than in the mail.


I just opened a TD discount brokerage TFSA accound as well, how did you manage to wave the 50$/year fee ? Is there any form to 'sign up for the e-services plan'


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## Jungle (Feb 17, 2010)

Steve19 said:


> Thanks guys.
> 
> One other question - the only fees I can see that are associated with the TFSA e-series is the MER and the withdrawal fee of $25.00. Is there any other fees associated with it?
> 
> ...


You get your first withdraw for free, per year. After that, fees apply for every withdraw. 

DOn't forget, there is a 90 hold when you buy e-series. If you sell within 90 days, you pay 3% fee. ( I believe this is called front or rear load fee?)

There is a *nasty* closing account fee of like $125 (approx, not sure exact amount) and also transferring TFSA to TFSA while sheltered is another nasty fee. Waterhouse is high in these fees. 

You can make ETF's portfolio work using much less than 25k by using Questrade and Vanguard ETFs. Questrade let's you hold USD in RRSP, so it's good for that anyway.


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## Jungle (Feb 17, 2010)

rookie said:


> can we set up PAD from other bank accounts for these e-series funds?


Yes, but you have to call waterhouse 1-800 number, you can't set this up online. (but in regular, non waterhouse mutual fund account you CAN set it up online)


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## Sherlock (Apr 18, 2010)

So why the heck does TD not allow someone to open an e-series TFSA over the web, they way they allow an RRSP? Do they not want people doing this for some reason?


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## Jungle (Feb 17, 2010)

Sherlock said:


> So why the heck does TD not allow someone to open an e-series TFSA over the web, they way they allow an RRSP? Do they not want people doing this for some reason?


Becuase they want to to visit an advisor in the bank that will sell you 3%MER mutual funds instead?


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## Sherlock (Apr 18, 2010)

Jungle said:


> Becuase they want to to visit an advisor in the bank that will sell you 3%MER mutual funds instead?


Then why offer the e-series funds at all? Also, why don't other big banks follow suit and offer such low MER funds?


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## Jungle (Feb 17, 2010)

Sherlock said:


> Then why offer the e-series funds at all? Also, why don't other big banks follow suit and offer such low MER funds?


It's a DIY product. With this you get the savings in the MER, but you don't get the full service or branch level knowledge with this product. 

You can print the forms online and them mail it for processing. It does allow RRSP accounts too.


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## Jungle (Feb 17, 2010)

PS:

Anyone know how to make a lump sum payment for these accounts? (not pre-authorize purchase plan)


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## FrugalTrader (Oct 13, 2008)

Jungle, you can transfer a lump sum into the TD money market fund from which you can transfer to any of their mutual funds without any fees (AFAIK).


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## patmanz (Jul 26, 2010)

Just want to tell you guys that the TD rep signed for the e-service plan, he signed me on his own and sent me an email telling me that there will be no annual fee's for my tfsa.

NOW THATS SERVICE !!! Big thumbs up for TD


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## CanadianCapitalist (Mar 31, 2009)

FrugalTrader said:


> Jungle, you can transfer a lump sum into the TD money market fund from which you can transfer to any of their mutual funds without any fees (AFAIK).


I can confirm that. That's what I personally do for the kids' RESPs.


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## akka (Feb 22, 2010)

My son's RESP aacount was opened as Mutual fund(converted to TD e Series)
Online I see the options nowFUnd Category)

Money Market
Fixed Income
Balanced
Canadain Equirt
US Equity
Global Equity
Sector
TD Mgd Potfolio
TD Mgd Idx Potfolio
TD Comfort Potfolio

Not sure how to proceed,afte that there is option of Fund.I am new to investing and choose e Series based on low MER.Please advise!!Appreciate
Thanks
Akhil


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## HaroldCrump (Jun 10, 2009)

akka said:


> Online I see the options nowFUnd Category)
> 
> Money Market
> Fixed Income
> ...


Select the asset category first before you can see the fund listings.
For example, select Fixed Income
Then in the Fund drop down list, you will see the e-Series fund (denoted by *-e***).

Don't select any of the portfolio categories - they do not have any eSeries funds.


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