FAQs

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Quarterly Fees

There are 2 different quarterly fees that may be applicable to you:

  • $25 Administration fee for clients with less $15,000 in cumulative assets in the Client ID (first six digits of the account number are the same). The fee is also waived for clients who have:
  • Set up a pre-authorized contribution (PAC) of at least $100 per month OR
  • Executed at least two commissioned trades during the previous quarter

This fee does not apply to clients that have been with Credential Direct for less than six months.

  • $5 Paper Statement fee for those who elect to have their account statements, trading confirmations, and tax documents mailed to them, rather than accessing them online through eServices. The one fee covers all accounts under a client ID (first six digits of the account number are the same).

See below for what is meant by ‘client’

All accounts under one Client ID (ex. 2J1234) are considered to be one client. Accounts grouped by client ID bear exactly the same name(s).

Ex. John Smith (2J1234: CASH, TFSA, and RRSP) is one client, while John Smith and Jane Smith (2J3456: Joint Cash) is a separate client. Both clients are subject to any applicable quarterly fees.

Those subject to a quarterly fee will be charged on the 1st (or next business day if the 1st is not a business day) following the calendar quarter.

Quarter

Quarter Ending

Date Charged

1

Mar 31

Apr 1

2

Jun 30

Jul 2

3

Sep 31

Oct 1

4

Dec 31

Jan 2

The Administration fee does not apply to clients that have been with Credential Direct for less than six months.

For any quarterly fees, you may elect to take the fee from your bank account on record via electronic funds transfer (EFT) or from your non-registered brokerage account (Cash or Margin).

If you have not made an election (clients holding accounts prior to June 2014), fees are charged to the account with the largest cash balance at the time the fee is assessed. If there is no account with sufficient funds, the fee will be charged to the first available account in the following order: non-registered; TFSA; other registered account.

Please call 1.877.742.2900 to update your election.

To avoid the quarterly Administration fee, please ensure you meet at least one for the following criteria by the end of the quarter:

  • You have at least $15,000 in your Client ID, OR
  • You have set up a pre-authorized contribution (PAC) of at least $100 per month, OR
  • You have executed at least two commissioned trades during the previous quarter

 
This fee does not apply to clients that have been with Credential Direct for less than six months.

No, administration fees are charged by ‘client’. A client covers all accounts you hold under your name. See What do you mean by “client”?

For any quarterly fees, you may elect to take the fee from your bank account on record via electronic funds transfer (EFT) or from your non-registered brokerage account (Cash or Margin).

If you have not made an election (clients holding accounts prior to June 2014), fees are charged to the account with the largest cash balance at the time the fee is assessed. If there is no account with sufficient funds, the fee will be charged to the first available account in the following order: non-registered; TFSA; other registered account.

To help ensure you don’t incur any unnecessary charges, we will endeavor to contact you by email and outline steps you can take to avoid the Administration fee.

Please visit Account Settings to update your email address, if necessary.

We strongly recommend you make arrangements to ensure the fee is paid from cash in the account or by electronic funds transfer (EFT).

If the fee brings your non-registered account (Cash or Margin) or TFSA into a debit (overdraft) balance, interest will be charged.

If the fee brings your registered account (RSP, RIF, RESP, etc.) into a debit (overdraft) balance, we will notify you by email that you need to cover the debit balance. If the debit balance is not covered within a week, we will sell a position in the account to sufficiently cover the overdraft balance (online commission will apply).

We understand transfers take time. It also takes time to research your investments. That’s why the Administration fee does not apply to clients that have been with Credential Direct for less than six months.

The charge is $5 per client per quarter and covers the printing and mailing of all documents – statements, trade confirmations and tax documents – for all accounts within your account group regardless of how many transactions you do.

See What do you mean by “client”?

Yes. You can download and print statements and other items at any time. We will store accounts statements for seven years and trade confirmation for two years. If the document does not open, you likely have a Pop-up blocker on your browser. Please disable your Pop-up blocker to access the document.

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6:00 a.m. to 5:00 p.m. Pacific Time 9:00 a.m. to 8:00 p.m. Eastern Time