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TFSA How does it work

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Lee_1
Frequent Contributor
I find Standards helpdesk just too frustratingly unhelpful. Please advise: I have registered and received confirmation that my account is opened: 1. Where is it? Here in my trading account? 2. How do I transfer the R30000? 3. Does the R30000 just have to be in the account, or actively invested in an instrument As I find Standards help desk awful, is a better to open this account elsewhere to ensure a more peaceful future? Any suggestions on a more cooperative institution?
6 REPLIES 6
EkisDoep
Frequent Contributor
I find Standard Bank's TFSA very easy and convenient. But perhaps that is because I also have a trading account. If you have a trading account you should see an additional account now. Click on the arrow next to your current trading account no. You can have cash and/or allowed investments in your TFSA
Galuc
Super Contributor
On the top RH corner is a little window that says account, click on the arrow and it will pull all your accounts up, click on the relevant account. To transfer you just do an eft to SBG Securities using that acc as a ref, or an inter account transfer which is pretty straightforward.
Lee_1
Frequent Contributor
Done. Thanks guys. Thats all I needed someone to tell me. Top right hand corner. I searched login, I searched my online banking, I scoured OST top options. But didnt realise my old account now had a drop down.
Russ
Super Contributor
If the drop down menu shows various accounts how do you know which is the TFSA account (if you haven't bought anything yet)?
Galuc
Super Contributor
It doesn't say which is quite silly especially if you have 4 or 5 accounts, the only number that you can visibly see what it is, is the warrants acc because it has a (w) Not sure why OST doesn't differentiate, even the CFD account is just a number!
Russ
Super Contributor
I ended up phoning the help desk and they told me!