New System Growing Pains
So the RDSP (Registered Disability Savings Plan) has been in place for a while now, but it seems some of the banking establishments are having some teething pains getting all the kinks out of the system (at least TD Waterhouse is, in my case).
Just to recap the fun we have had setting up this long term savings vehicle:
- As I outlined in new financial programs are nevery easy we had to fill in a mountain of documentation with a TD representative, and were told it was indeterminate when the account might actually be set up. It didn’t take as long as threatened but other problems arose.
- An issue with my wife’s identity arose, as outlined in no you are not married to him there were some issues with my wife’s last name, that we had to remedy before we were allowed to have the account certified as being genuine (by the Federal government folks), but that is now fixed.
- The continuing issue with the account is it not being hooked into the TD Waterhouse on line access system, except in a Read Only mode, where I can look at it’s contents, but can’t do anything with that. It took me a while to get this Read Only capability and had to phone TD, and stay on the line for about an hour before I was given this access, but was told I had to use the phone access TD system to add moneys to the account.
Having outlined the quirks of the system so far, tomorrow I will write about the very obtuse methodology I had to use to actually put money into the RDSP account (yes I am ruining the conclusion of the story, I think I did finally succeed, but only time will tell about that one.
It would be interesting to know what the problems TD Waterhouse is having. You’d think that RDSPs could just make use of the parts of their RRSP system that are common, but things are rarely that simple.
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