Posted on: 06-07-09 22:08:10
Hi all,
Wonder if you know of any fee free RESP provider, where funds can be kept as cash/near cash i.e in a bond fund or in a CD?
Rgds
New
E*Trade has one.
You can keep it in Cash or Bond Fund.
I don't think they offer CDs.
I believe you may be able to hold their Cash Optimizer account inside the RESP - call them and ask.
The Cash Optimizer is like a high interest savings accounts of banks.
Caveat: Bank savings accounts are normally covered by CDIC.
I don't believe cash in a brokerage account like Cash Optimzier will be covered by CDIC.
E*Trade is a member of CIPF, so there is some coverage but not as strong as CDIC.
-----------------------------------------------------------------
"Mah deah, there is much more money to be made in the destruction of civilization than in building it up."
-- Rhett Butler in "Gone with the Wind"
