Comments on: How to invest periodically in a TD e-Series Funds RESP Account

By: rajarajan

rajarajan — Mon, 16 Nov 2009 17:55:12 +0000

Hello all,

If you are getting an additioan CESG grant then what is the way to invest in TS RESP E series Account.

Thank You!

By: clueless

clueless — Tue, 25 Aug 2009 02:28:02 +0000

CC,

Thanks for the clarification.
Yes i do have TD e-series and online access and i gave them void cheque for opening the account. However i want to transfer some funds from my spouse account. I am wondering if i can add TD series as bill payee and transfer any funds.

By: Canadian Capitalist

Canadian Capitalist — Sun, 23 Aug 2009 14:07:53 +0000

clueless: Do you already have a TD RESP account (Florch has a Waterhouse account)? Is it already set up for e-Series funds — i.e. do you have online access through EasyWeb?

If you already have online access, your TD Mutual Fund account is already set up to pull money from the checking account through the void cheque you provided when opening the mutual fund account. All you have to do is buy $x of any mutual fund and TD will pull that amount out of your bank account. If it is a RESP, $x will be your contribution.

By: clueless

clueless — Sun, 23 Aug 2009 01:55:58 +0000

Traciatim,

I don’t want to do pre auth payments for two reasons.
a)- I want to make a bulk payment towards RESP
b)- I want to contribute only when i have money

I found TD waterhouse as financial institution in my Scotia online and my Spouse’s RBC online portal. Is thats what e-series account would fall under.
Thanks,

By: Traciatim

Traciatim — Sat, 22 Aug 2009 13:43:00 +0000

Clueless, I had mine set up as a pre-authed payment from the TD side, so it worked like an automatic mortgage paymetn, you can set it up in your TD online access area.

By: clueless

clueless — Sat, 22 Aug 2009 03:23:52 +0000

Florch,

I am trying to add TD RESP as bill payee from my scotiaback but can’t seem to add. Would you know under which financial institution you would add TD RESP account#.

Thanks.

By: florch

florch — Thu, 12 Mar 2009 19:33:00 +0000

I agree with that being a problem at TD. Their helpfulness runs out in the branches when you start doing self directed or e-series. This is another reason why doing it as a bill payment is helpful. You don’t need to deal with anyone – just do it online – if it works, you did it right.

Thankfully, Waterhouse’s phone help is pretty good, the guys and girls are knowledgeable and helpful which is refreshing for telephone service.

By: Al

Al — Thu, 12 Mar 2009 19:20:34 +0000

Thank you Florch. That is a good tip. I think most of my problems are arising from the fact that I think I know what to do and no one at TD seems to be able to proactively correct me.

By: florch

florch — Thu, 12 Mar 2009 18:47:51 +0000

Al – I just tried to explain – you can make a deposit by doing a bill payment to the RESP account number from ANY bank.

By: Al

Al — Thu, 12 Mar 2009 18:20:31 +0000

To MJMann, here are the rules if you child does not use the money: http://www.canlearn.ca/eng/saving/resp/nce.shtml

As an aside, this is an absolutely crazy process to set this up. I do not have a TD account so here is my story:

1) Went to my branch and set up a TD mutual fund account (money market).

2) Went home, printed out the transfer sheet and waited 2 weeks.

3) Received email indicating that I need Easyweb to access the funds. ( I knew this).

4) Call the first number indicated in the email (which doesn’t work). Then called the general help number to set up Easy Web access.

5) Turns out, you need an access card which can only be issued at the branch. Go back to square one. Rinse and repeat if necessary.

On top of this, I know that I cannot do lump sum payments into the e-series even if I have a pre-authorized payment plan set up. I will have to send a cheque in the mail.

They really want you to bank at TD to use this product.