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Gravatar for Enoch Omololu, MSc (Econ)
Enoch Omololu, MSc (Econ)

Enoch Omololu, personal finance expert, author, and founder of Savvy New Canadians, has written about money matters for over 10 years. Enoch has an MSc (Econ) degree in Finance and Investment Management from the University of Aberdeen Business School and has completed the Canadian Securities Course. His expertise has been highlighted in major publications like Forbes, Globe and Mail, Business Insider, CBC News, Toronto Star, Financial Post, CTV News, TD Direct Investing, Canadian Securities Exchange, and many others. Enoch is passionate about helping others win with their finances and recently created a practical investing course for beginners. You can read his full author bio.

About Savvy New Canadians

Savvy New Canadians is one of Canada's top personal finance platforms. Millions of Canadians use our site each year to learn how to save for retirement, invest smartly, maximize rewards, and earn extra cash. We have been featured in prominent finance media, including Forbes, Globe and Mail, Business Insider, CBC, MSN, Wealthsimple, and TD Direct Investing. Learn more about Savvy New Canadians.

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37 thoughts on “Transferring Your RRSP, TFSA, RESP, and RRIF Between Banks”

  1. Gravatar for Natasha

    Hi, I’ve requested a transfer from my RSP TD account to my OMERS plan to buy back service. Proper forms were sent, and TD rejected the transfer because there was insufficient amount for transfer fee and taxes. I’ve now added the amount to cover the transfer fee.

    Now OMERS is refusing to make a follow up request to pull the money and my TD branch says they don’t directly handle transfers, it’s a department that clients can’t access. How can I make this transfer happen and why won’t any of these institutions help?

  2. Gravatar for Randine Richards

    I am trying to transfer my kids Scotiabank RESP to T D Canada Trust but Scotiabank is not allowing the transfer to be completedโ€ฆthis has been going on for six months and each month they have a different request to be madeโ€ฆ
    1. ) antiquated forms being used but the form is being used the same as the government website forms.
    2.) Scotiabank is insisting that the plan be registered with T D Canada Trust but it does not say that on again, the government website.
    3.) Scotiabank is now encouraging me to move this transfer request to another yet another financial institution.

  3. Gravatar for ronald ulansky

    Hi, I am trying to move a cash RIF from Tangerine to Simplii.Tangerine has the documents since Nov 15th and still haven’t transferred the funds. I have lost 6 weeks of a lot higher interest rate. Is there anything I can do to speed up the process?
    Thanks
    Ron

    • Gravatar for Enoch Omololu

      @Ronald: Sorry to hear about the delays you are experiencing with your transfer. Other than trying to contact Tangerine’s customer service, I am not sure what else you can do.

  4. Gravatar for EE

    Great article! Is the RESP transfer out fee from TD is free, or is this information not available?

    • Gravatar for Enoch Omololu

      @EE: I checked and registered account transfer-outs on TD Direct Investing cost $150.

  5. Gravatar for YJ Lee

    Please sign me up for your news letter mailing list.

    • Gravatar for Enoch Omololu

      @YJ: You can sign up using the “Sign Up” button in the menu or you can use the opt-in form at the bottom of the article. Cheers.

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