Easy Equities TFSA automatically opened

[fivenine]

Hi all

So when registering on Easy Equities theres a note that states:
Please note that by opening an EasyEquities account you will automatically open a Tax Free Savings Account (TFSA).

I don't intend on using this TFSA from Easy Equities, or at least not just yet.

What if I want to make use of a TFSA from a bank or some other financial institute.
How does this affect me that I will already have one with Easy Equities.
How many are you allowed to have?
Is it worth having more than one?
Can you close a TFSA or even reopen one.

Thanks

 

[Thor]

You can request to have yours closed.

 

[Hamster]

Just leave it and don't deposit money into it. I have an ABSA one I don't use.

 

[supersunbird]

What if I want to make use of a TFSA from a bank or some other financial institute - Then you do just that
How does this affect me that I will already have one with Easy Equities - It does not affect you at all
How many are you allowed to have? - As many as you want
Is it worth having more than one? - No intrinsic value on it's own no
Can you close a TFSA or even reopen one - Sure you can, one would have to take out or transfer all the funds somewhere else. If you go with the same provider again then you might get a new account number.

 

[patrick]

EE have the 2nd cheapest TFSA for buying and selling ETFs, only ABSA is cheaper, though just by 0.05%. EE have much better service though. Mind if I ask who your TFSA is with?