Comments on: How to Open a TD e-Series (e-Funds) RESP Account http://www.milliondollarjourney.com/how-to-open-a-td-e-series-e-funds-resp-account-not-complete.htm Building Wealth through Saving and Investing Thu, 18 Mar 2010 17:02:37 -0400 http://wordpress.org/?v=abc hourly 1 By: Father of Five http://www.milliondollarjourney.com/how-to-open-a-td-e-series-e-funds-resp-account-not-complete.htm/comment-page-1#comment-77989 Father of Five Fri, 17 Apr 2009 07:33:02 +0000 http://www.milliondollarjourney.com/how-to-open-a-td-e-series-e-funds-resp-account-not-complete.htm#comment-77989 How exactly does one "link" the TD e-series account to a non-TD bank account like a CIBC chequing account? Do you setup the TD account as a bill to be paid via online banking, or somehow do a money transfer? I enquired of a CIBC person and they said I would probably need to do an "email money transfer" via online banking, and that there is a charge for this transfer? How do others do it? How exactly does one “link” the TD e-series account to a non-TD bank account like a CIBC chequing account? Do you setup the TD account as a bill to be paid via online banking, or somehow do a money transfer? I enquired of a CIBC person and they said I would probably need to do an “email money transfer” via online banking, and that there is a charge for this transfer? How do others do it?

]]> By: Jane http://www.milliondollarjourney.com/how-to-open-a-td-e-series-e-funds-resp-account-not-complete.htm/comment-page-1#comment-72528 Jane Wed, 04 Mar 2009 15:52:53 +0000 http://www.milliondollarjourney.com/how-to-open-a-td-e-series-e-funds-resp-account-not-complete.htm#comment-72528 I just went open up a td mutual fund RESP account yesterday. The rep told me that all 3 government grants(if I qualify) will go directly to the 5-yr GIC account which has 4% return, it sounded very good to me. When I asked if I could set up 2nd beneficiary so that in case if the primary kid is not going to school, I can transfer the RESP to another child, but they told me there is no such option unless I open up a family plan. Is it true? I just went open up a td mutual fund RESP account yesterday. The rep told me that all 3 government grants(if I qualify) will go directly to the 5-yr GIC account which has 4% return, it sounded very good to me. When I asked if I could set up 2nd beneficiary so that in case if the primary kid is not going to school, I can transfer the RESP to another child, but they told me there is no such option unless I open up a family plan. Is it true?

]]> By: Andy http://www.milliondollarjourney.com/how-to-open-a-td-e-series-e-funds-resp-account-not-complete.htm/comment-page-1#comment-71961 Andy Fri, 27 Feb 2009 02:59:43 +0000 http://www.milliondollarjourney.com/how-to-open-a-td-e-series-e-funds-resp-account-not-complete.htm#comment-71961 Just a note to all you who have a problem with TD e-series when you go into a branch and speak to someone. It's not that the PBs don't know what you're talking about, but it's the point of the funds. The e-funds index funds are the exact same fund as their I-series namesake. The I-series has a higher MER, but you get PB support and advice for that higher MER, so the whole point of the e-series is you don't want that support, so you don't pay for it. My point is, it would defeat the purpose if they answered your questions regarding e-series. It's better not to mention it, go in, create your account, download and mail in the conversion to e-funds and away you go. Just a note to all you who have a problem with TD e-series when you go into a branch and speak to someone. It’s not that the PBs don’t know what you’re talking about, but it’s the point of the funds. The e-funds index funds are the exact same fund as their I-series namesake. The I-series has a higher MER, but you get PB support and advice for that higher MER, so the whole point of the e-series is you don’t want that support, so you don’t pay for it. My point is, it would defeat the purpose if they answered your questions regarding e-series. It’s better not to mention it, go in, create your account, download and mail in the conversion to e-funds and away you go.

]]> By: BOB http://www.milliondollarjourney.com/how-to-open-a-td-e-series-e-funds-resp-account-not-complete.htm/comment-page-1#comment-69996 BOB Wed, 11 Feb 2009 22:12:42 +0000 http://www.milliondollarjourney.com/how-to-open-a-td-e-series-e-funds-resp-account-not-complete.htm#comment-69996 1)what documents are needed to open td Resp....apart from the child's Sin number..do they need birth certificates.. 2)as discussed the problem with Td mutual fund resp is..we do not get the additional CESG on the first $500 & we also do not get the CLB. but i believe some branches work them out..open a regular RESP..contribute & then swicth to mutual fund...while the original contribution gets all the grants....does any one any such pleasant experiences.. 1)what documents are needed to open td Resp….apart from the child’s Sin number..do they need birth certificates..

2)as discussed the problem with Td mutual fund resp is..we do not
get the additional CESG on the first $500 & we also do not get the CLB.
but i believe some branches work them out..open a regular RESP..contribute & then swicth to mutual fund…while the original contribution gets all the grants….does any one any such pleasant experiences..

]]> By: StellarGoods http://www.milliondollarjourney.com/how-to-open-a-td-e-series-e-funds-resp-account-not-complete.htm/comment-page-1#comment-69973 StellarGoods Wed, 11 Feb 2009 18:10:48 +0000 http://www.milliondollarjourney.com/how-to-open-a-td-e-series-e-funds-resp-account-not-complete.htm#comment-69973 Having just had a son close to 1.5 months ago, I am buckling down and choosing my RESP provider for the next 20 or so years. My top 2 picks were TD and RBC. Although TD does indeed have lower MER's with its E-Series funds, upon closer examination, RBC's index funds for Canadian Equity and Canadian Bond have both consistently demonstrated higher returns over YTD, 1 yr, 3 yr, 5 yr, and earlier. This is hard to explain given these funds are all supposed to track the same indexes. Tracking error ?!?Having been a loyal RBC client since birth, in Quebec, I will stick to RBC for the RESP's (although I must admit that RBC probably is the most expensive bank for consumers). As a sidenote, I will offer this information, the Quebec Incentive Education plan which is equal to half of the CESG, meaning 10% of member contributions will apply to both RBC and TD plans when it materializes. RBC gave me the assurance that the provincial grants would be retroactive to Jan 1, 2008 (must confirm) however growth-free. In case anyone wants to verify my info : Bond : TDB909 vs. RBF563 and Canadian Equity : TDB900 vs. RBF556. Comments... Having just had a son close to 1.5 months ago, I am buckling down and choosing my RESP provider for the next 20 or so years. My top 2 picks were TD and RBC. Although TD does indeed have lower MER’s with its E-Series funds, upon closer examination, RBC’s index funds for Canadian Equity and Canadian Bond have both consistently demonstrated higher returns over YTD, 1 yr, 3 yr, 5 yr, and earlier. This is hard to explain given these funds are all supposed to track the same indexes. Tracking error ?!?Having been a loyal RBC client since birth, in Quebec, I will stick to RBC for the RESP’s (although I must admit that RBC probably is the most expensive bank for consumers). As a sidenote, I will offer this information, the Quebec Incentive Education plan which is equal to half of the CESG, meaning 10% of member contributions will apply to both RBC and TD plans when it materializes. RBC gave me the assurance that the provincial grants would be retroactive to Jan 1, 2008 (must confirm) however growth-free. In case anyone wants to verify my info : Bond : TDB909 vs. RBF563
and Canadian Equity : TDB900 vs. RBF556. Comments…

]]> By: Jert http://www.milliondollarjourney.com/how-to-open-a-td-e-series-e-funds-resp-account-not-complete.htm/comment-page-1#comment-68817 Jert Mon, 02 Feb 2009 04:20:37 +0000 http://www.milliondollarjourney.com/how-to-open-a-td-e-series-e-funds-resp-account-not-complete.htm#comment-68817 Xing: I opened my efunds RESP account on December 1st. The rep told me that the government contributions are added after each deposit, but then it was applied on January 2nd ... so I don't really know. Assuming the rep was correct, I'd say it takes about a month to deposit the CESG grant. Xing: I opened my efunds RESP account on December 1st. The rep told me that the government contributions are added after each deposit, but then it was applied on January 2nd … so I don’t really know. Assuming the rep was correct, I’d say it takes about a month to deposit the CESG grant.

]]> By: Xing http://www.milliondollarjourney.com/how-to-open-a-td-e-series-e-funds-resp-account-not-complete.htm/comment-page-1#comment-68268 Xing Tue, 27 Jan 2009 15:07:57 +0000 http://www.milliondollarjourney.com/how-to-open-a-td-e-series-e-funds-resp-account-not-complete.htm#comment-68268 With the TD accounts, how long after does the 20% from the government get put in? Is it just a one time thing at year end or does something get added for every contribution. With the TD accounts, how long after does the 20% from the government get put in? Is it just a one time thing at year end or does something get added for every contribution.

]]> By: newbie http://www.milliondollarjourney.com/how-to-open-a-td-e-series-e-funds-resp-account-not-complete.htm/comment-page-1#comment-67353 newbie Fri, 16 Jan 2009 21:14:24 +0000 http://www.milliondollarjourney.com/how-to-open-a-td-e-series-e-funds-resp-account-not-complete.htm#comment-67353 Is there any admin fee for the e-funds RRSP account? Is there any admin fee for the e-funds RRSP account?

]]> By: Aolis http://www.milliondollarjourney.com/how-to-open-a-td-e-series-e-funds-resp-account-not-complete.htm/comment-page-1#comment-66465 Aolis Wed, 07 Jan 2009 20:20:27 +0000 http://www.milliondollarjourney.com/how-to-open-a-td-e-series-e-funds-resp-account-not-complete.htm#comment-66465 "I will maintain the minimum balance which works out to be the same as a 4.7% annual return" Not paying for something you don't need is not a return. “I will maintain the minimum balance which works out to be the same as a 4.7% annual return”

Not paying for something you don’t need is not a return.

]]> By: Vishnu Gandhi http://www.milliondollarjourney.com/how-to-open-a-td-e-series-e-funds-resp-account-not-complete.htm/comment-page-1#comment-66057 Vishnu Gandhi Sat, 03 Jan 2009 20:48:12 +0000 http://www.milliondollarjourney.com/how-to-open-a-td-e-series-e-funds-resp-account-not-complete.htm#comment-66057 I opened TD mutual fund RESP account for my son in branch. My experience with personal banker was much better compare to RBC where I have my all other accounts. Few days later I requested for online access which I was immediately given and it works fine for additional purchase and transfer of fund. There was no other requirement like having chequing account etc. My Son is 16 year old so this is much better than other RESP Schemes I opened TD mutual fund RESP account for my son in branch. My experience with personal banker was much better compare to RBC where I have my all other accounts. Few days later I requested for online access which I was immediately given and it works fine for additional purchase and transfer of fund. There was no other requirement like having chequing account etc. My Son is 16 year old so this is much better than other RESP Schemes

]]> By: Tony Zhou http://www.milliondollarjourney.com/how-to-open-a-td-e-series-e-funds-resp-account-not-complete.htm/comment-page-1#comment-63079 Tony Zhou Fri, 05 Dec 2008 17:23:00 +0000 http://www.milliondollarjourney.com/how-to-open-a-td-e-series-e-funds-resp-account-not-complete.htm#comment-63079 My RESP experience http://canadianinvestmentjourney.blogspot.com/2008/12/resp-on-td-e-series-mutual-fund.html My RESP experience

http://canadianinvestmentjourney.blogspot.com/2008/12/resp-on-td-e-series-mutual-fund.html

]]> By: Kevin http://www.milliondollarjourney.com/how-to-open-a-td-e-series-e-funds-resp-account-not-complete.htm/comment-page-1#comment-45554 Kevin Fri, 25 Jul 2008 23:04:49 +0000 http://www.milliondollarjourney.com/how-to-open-a-td-e-series-e-funds-resp-account-not-complete.htm#comment-45554 Hey all, I went into TD today to open up an RRSP account w/ TD e-Funds. The person I talked to said I could only by e-Funds through TD Waterhouse. I'd prefer not to do that due to the extra fees. Based on what I've been reading on this blog, it doesn't seem like that's true - can someone confirm? I realise this blog post is about RESPs, not RRSPs, but I assume there isn't a difference for the question I'm asking. Thanks! Hey all,
I went into TD today to open up an RRSP account w/ TD e-Funds. The person I talked to said I could only by e-Funds through TD Waterhouse. I’d prefer not to do that due to the extra fees. Based on what I’ve been reading on this blog, it doesn’t seem like that’s true – can someone confirm? I realise this blog post is about RESPs, not RRSPs, but I assume there isn’t a difference for the question I’m asking.
Thanks!

]]> By: Peter http://www.milliondollarjourney.com/how-to-open-a-td-e-series-e-funds-resp-account-not-complete.htm/comment-page-1#comment-38585 Peter Mon, 09 Jun 2008 02:28:08 +0000 http://www.milliondollarjourney.com/how-to-open-a-td-e-series-e-funds-resp-account-not-complete.htm#comment-38585 Hi, I also opened a TD e-Series account and have nothing but praise for their low fees and easy online interface. When I opened my account I just went to my local branch and asked to open a regular mutual fund account and did not mention the e-Series. Getting all the paperwork done in branch is much easier and faster than mailing in for a new account. Just park your money in a no fee money market fund, go home and fill out the e-Series paperwork, put it in an envelope and bring it back to the same branch to put in inter-office mail. :-) Hi,
I also opened a TD e-Series account and have nothing but praise for their low fees and easy online interface. When I opened my account I just went to my local branch and asked to open a regular mutual fund account and did not mention the e-Series. Getting all the paperwork done in branch is much easier and faster than mailing in for a new account. Just park your money in a no fee money market fund, go home and fill out the e-Series paperwork, put it in an envelope and bring it back to the same branch to put in inter-office mail. :-)

]]> By: FrugalTrader http://www.milliondollarjourney.com/how-to-open-a-td-e-series-e-funds-resp-account-not-complete.htm/comment-page-1#comment-38276 FrugalTrader Fri, 06 Jun 2008 11:25:30 +0000 http://www.milliondollarjourney.com/how-to-open-a-td-e-series-e-funds-resp-account-not-complete.htm#comment-38276 Mark, I asked the same banker about opening a personal line of credit to fund the mutual funds account, and he said that it would be leverage and that it's not allowed. I'm thinking that I should look into working with another banker instead. :) Mark, I asked the same banker about opening a personal line of credit to fund the mutual funds account, and he said that it would be leverage and that it’s not allowed. I’m thinking that I should look into working with another banker instead. :)

]]> By: Mark http://www.milliondollarjourney.com/how-to-open-a-td-e-series-e-funds-resp-account-not-complete.htm/comment-page-1#comment-38241 Mark Fri, 06 Jun 2008 02:55:11 +0000 http://www.milliondollarjourney.com/how-to-open-a-td-e-series-e-funds-resp-account-not-complete.htm#comment-38241 You could have just opened a small personal line of credit with TD, and used that account to link to the TD eFunds account. Personal Line of Credit = no monthly fee, no minimum balance. And you only pay interest on what you borrow. You could have just opened a small personal line of credit with TD, and used that account to link to the TD eFunds account. Personal Line of Credit = no monthly fee, no minimum balance. And you only pay interest on what you borrow.

]]> By: ETF Income http://www.milliondollarjourney.com/how-to-open-a-td-e-series-e-funds-resp-account-not-complete.htm/comment-page-1#comment-38183 ETF Income Thu, 05 Jun 2008 15:07:42 +0000 http://www.milliondollarjourney.com/how-to-open-a-td-e-series-e-funds-resp-account-not-complete.htm#comment-38183 Yes, I have been using TD e-series since it was incepted. I have quite a few e-series including canadian index, candian e-bonds, us e-series and europe e-series. They all done very well. Yes, I have been using TD e-series since it was incepted. I have quite a few e-series including canadian index, candian e-bonds, us e-series and europe e-series. They all done very well.

]]> By: FrugalTrader http://www.milliondollarjourney.com/how-to-open-a-td-e-series-e-funds-resp-account-not-complete.htm/comment-page-1#comment-38157 FrugalTrader Thu, 05 Jun 2008 11:09:58 +0000 http://www.milliondollarjourney.com/how-to-open-a-td-e-series-e-funds-resp-account-not-complete.htm#comment-38157 cannon, TD RESP should have no problem giving you up to $500/year in CESG. I deposited $2500 fully expecting my 20% CESG in the near future. I will keep you guys posted. cannon, TD RESP should have no problem giving you up to $500/year in CESG. I deposited $2500 fully expecting my 20% CESG in the near future. I will keep you guys posted.

]]> By: cannon_fodder http://www.milliondollarjourney.com/how-to-open-a-td-e-series-e-funds-resp-account-not-complete.htm/comment-page-1#comment-38151 cannon_fodder Thu, 05 Jun 2008 10:31:43 +0000 http://www.milliondollarjourney.com/how-to-open-a-td-e-series-e-funds-resp-account-not-complete.htm#comment-38151 FT, So, if you are looking to get that 20% up to $500 per year, regardless of income, the TD RESP is not a problem? FB, If I'm TD, and I have a good thing going such as this low MER e-series funds, do I offer them to everyone OR do I make you sign up at TD in order to purchase them and then work on you to sell you more and more of anything? If I do the former, then perhaps all that would happen is the mutual fund companies would respond by lowering to my level of MER and I'd lose my advantage. If I do the latter, I have a great chance to convert you into a higher value (i.e. more wallet share) client regardless of whether you buy more of my TD mutual funds for your RESP, RRSP, TFSA, non-registered account. Perhaps you get a credit card, banking account, mortgage. Just a theory as to the method of their 'madness'. FT,

So, if you are looking to get that 20% up to $500 per year, regardless of income, the TD RESP is not a problem?

FB,

If I’m TD, and I have a good thing going such as this low MER e-series funds, do I offer them to everyone OR do I make you sign up at TD in order to purchase them and then work on you to sell you more and more of anything?

If I do the former, then perhaps all that would happen is the mutual fund companies would respond by lowering to my level of MER and I’d lose my advantage. If I do the latter, I have a great chance to convert you into a higher value (i.e. more wallet share) client regardless of whether you buy more of my TD mutual funds for your RESP, RRSP, TFSA, non-registered account. Perhaps you get a credit card, banking account, mortgage.

Just a theory as to the method of their ‘madness’.

]]> By: FrugalTrader http://www.milliondollarjourney.com/how-to-open-a-td-e-series-e-funds-resp-account-not-complete.htm/comment-page-1#comment-38147 FrugalTrader Thu, 05 Jun 2008 10:20:11 +0000 http://www.milliondollarjourney.com/how-to-open-a-td-e-series-e-funds-resp-account-not-complete.htm#comment-38147 FB, I wish that was the case, but the TD e-Series are exclusive to TD. FB, I wish that was the case, but the TD e-Series are exclusive to TD.

]]> By: The Financial Blogger http://www.milliondollarjourney.com/how-to-open-a-td-e-series-e-funds-resp-account-not-complete.htm/comment-page-1#comment-38144 The Financial Blogger Thu, 05 Jun 2008 09:47:15 +0000 http://www.milliondollarjourney.com/how-to-open-a-td-e-series-e-funds-resp-account-not-complete.htm#comment-38144 FT, I don't know much about TD e-Series but why can't you just get them through a regular brokerage account like any other funds? Or can you have them through a broker? It would have save you time and money, isn't? FT,
I don’t know much about TD e-Series but why can’t you just get them through a regular brokerage account like any other funds? Or can you have them through a broker?

It would have save you time and money, isn’t?

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