Vipeijan T (2021-02-09, 3:09:55 PM): Please be aware that the chat log of this

conversation is available for download at your discretion and contains any and all
sensitive information provided during the conversation.

Thanks for contacting Questrade. My name is Vipeijan. How can I help you?
Vipeijan T (2021-02-09, 3:10:02 PM): Hello Lori! Apologies for the long wait. We
are currently experiencing an increase in volume and really appreciate your
understanding. How may I assist you today?
Customer (2021-02-09, 3:11:35 PM): I was looking into withdrawing the 1000$ deposit
I had around 2 weeks ago without having a "withholding tax"
Customer (2021-02-09, 3:12:25 PM): I have not used the 1000$ I had deposited to buy
any stocks, so I did not make any money off Questrade
Customer (2021-02-09, 3:12:41 PM): Would it be possible to withdraw without being
taxed then?
Vipeijan T (2021-02-09, 3:12:55 PM): What account type is this regarding (ie.
RRSP)?
Customer (2021-02-09, 3:12:59 PM): yes
Customer (2021-02-09, 3:13:01 PM): RRSP
Customer (2021-02-09, 3:13:08 PM): individual RSP*
Vipeijan T (2021-02-09, 3:15:06 PM): When a single lump sum is withdrawn from an
RRSP, a withholding tax will apply. The rates depend on your residency and the
amount you withdraw. The rates are applied on the gross amount of the withdrawals
for that calendar day only (multiple withdrawals over multiple days will be treated
separately). The withholding taxes are:
- 10% on amounts up to and including $5,000.00 (or 20% in Quebec)
- 20% on amounts over $5,000 up to including $15,000 (or 25% in Quebec)
- 30% on amounts over $15,000 (or 30% in Quebec)
Vipeijan T (2021-02-09, 3:16:04 PM): A deregistration fee will also apply. The
deregistration fee is $50.00 + tax for partial (account remains open with us) and
$100.00 + tax for full deregistration (account is closed with us)
Customer (2021-02-09, 3:16:07 PM): Is there any refund that can be issued
considering I did not use the 1000$ I had deposited into my account
Customer (2021-02-09, 3:17:32 PM): ?
Customer (2021-02-09, 3:17:57 PM): and it has only been 2 weeks since I opened the
account
Customer (2021-02-09, 3:18:27 PM): I was not aware of any of these terms when I had
made the account. If I had known I would've never made it in the first place.
Customer (2021-02-09, 3:19:14 PM): I would appreciate any compensation you can
offer regarding this matter
Vipeijan T (2021-02-09, 3:21:37 PM): Please allow me 3 to 5 minutes to look into
this for you.
Customer (2021-02-09, 3:22:54 PM): ok, thank you.
Vipeijan T (2021-02-09, 3:29:54 PM): Thank you for the long hold. Unfortunately, we
cannot reimburse this fee, as this is a tax charged by the CRA (Canada Revenue
Agency).
Customer (2021-02-09, 3:31:00 PM): 1. Can you reimburse the reregistration fee
then? 2. Who would I have to contact in order to not get charged by CRA?
Vipeijan T (2021-02-09, 3:33:06 PM): I cannot reimburse the deregistration fee, as
well unfortunately. In regards to the withholding tax, you may have to speak with
the CRA.
Customer (2021-02-09, 3:35:52 PM): Like I said earlier, I was not aware of the
deregistration fee. If you could make an exception I would greatly appreciate it.
Vipeijan T (2021-02-09, 3:36:28 PM): Unfortunately, we cannot, as I have confirmed
this during the 3 to 5 minute hold for you. Is there anything else that I could
assist you with today, Lori?
Customer (2021-02-09, 3:37:52 PM): Would you mind asking your manager again? It is
unprofessional for the company to charge a deregistration fee without letting the
customers know prior to signing up.
Customer (2021-02-09, 3:38:50 PM): If I had known this earlier, I would have never
signed up.
Vipeijan T (2021-02-09, 3:40:17 PM): Certainly. Please provide me 3 to 5 minutes to
look into this for you.
Customer (2021-02-09, 3:40:26 PM): I appreciate it
Vipeijan T (2021-02-09, 3:49:40 PM): Sorry for the very long hold.
Vipeijan T (2021-02-09, 3:49:55 PM): Before I begin I have to verify the account.
Please provide the following information for security purposes:

- Your date of birth

- Has there been a withdrawal placed in the last 30 days? (Yes/No)
- Has there been a deposit made in the last 30 days? (Yes/No)
Customer (2021-02-09, 3:50:35 PM): 1. June 12, 1999
Customer (2021-02-09, 3:50:39 PM): 2. No
Customer (2021-02-09, 3:50:43 PM): 3.Yes
Vipeijan T (2021-02-09, 3:52:26 PM): Thank you for verifying yourself, Lori.
Vipeijan T (2021-02-09, 3:53:09 PM): May I ask, how much were you looking to
withdraw today?
Customer (2021-02-09, 3:54:59 PM): I am looking to withdraw the 1000$ deposit I had
made on January 28th, 2021.
Vipeijan T (2021-02-09, 3:56:51 PM): What I can do is place a request to transfer
the funds to a cash account and then withdraw the funds to your bank account for
you. There would be no deregistration fees or withholding taxes charged via this
method. Would this be okay, Lori?
Customer (2021-02-09, 4:00:40 PM): Just to make sure, there will not be any charges
for this withdrawal via this method?
Customer (2021-02-09, 4:01:09 PM): and how long will it take for the deposit to
appear in my bank account?
Vipeijan T (2021-02-09, 4:02:59 PM): Yes, there would be no charges. We will simply
require a void cheque or direct deposit form uploaded on file (easily upload by
going to my.questrade.com > Account Management > Upload documents). Once uploaded,
we will process this request for you.

The process will take 4- 6 business days to process (1-2 business days to transfer
the funds to the cash account, and 2-4 business days to withdraw to your bank
account).
Customer (2021-02-09, 4:04:29 PM): okay, perfect. Thank you very much.
Customer (2021-02-09, 4:04:56 PM): I will upload my direct deposit info right away
Vipeijan T (2021-02-09, 4:07:09 PM): Great! Do you have any other questions for me
today, while I have you here, Lori?
Customer (2021-02-09, 4:07:30 PM): yes
Customer (2021-02-09, 4:07:43 PM): I am with CIBC and requested a void cheque
through online banking
Customer (2021-02-09, 4:08:00 PM): the file is just a PDF with my account number,
transit number and branch number.
Customer (2021-02-09, 4:08:10 PM): Is there any other info that needs to be
provided besides tat
Customer (2021-02-09, 4:08:11 PM): that*
Customer (2021-02-09, 4:08:36 PM): do I need to sign it?
Vipeijan T (2021-02-09, 4:09:00 PM): This is the only form we require, and once we
receive it, we will process this request for you. Is this a pre-printed form?
Customer (2021-02-09, 4:09:56 PM): yes, I just downloaded it.
Vipeijan T (2021-02-09, 4:10:20 PM): Perfect! Is there anything else that I could
assist you with today?
Customer (2021-02-09, 4:10:32 PM): Do I need to sign to form?
Customer (2021-02-09, 4:10:39 PM): before uploading it?
Vipeijan T (2021-02-09, 4:12:19 PM): You do not need to, as this is a pre-printed
form.
Customer (2021-02-09, 4:12:48 PM): ok, thank you!
Customer (2021-02-09, 4:13:06 PM): is there a way for me to download our chat?
Vipeijan T (2021-02-09, 4:15:34 PM): If you would like to have a transcript of this
chat, you can download using the button which will appear once you hit the end chat
button.
Customer (2021-02-09, 4:16:18 PM): ok, thank you.
Customer (2021-02-09, 4:16:26 PM): I have one more question, sorry
Customer (2021-02-09, 4:16:31 PM): for the "document type"
Customer (2021-02-09, 4:16:41 PM): would I select "direct deposit" or "void cheque"
Vipeijan T (2021-02-09, 4:18:38 PM): You can select either, as we simply need one
of those to process the withdrawal request for you! Once processed, we will send
you an e-mail to lori.hamboyan@gmail.com, as confirmation!
Customer (2021-02-09, 4:19:16 PM): sounds good!
Customer (2021-02-09, 4:19:24 PM): I just uploaded it
Customer (2021-02-09, 4:19:30 PM): Can you see that action from your side?
Vipeijan T (2021-02-09, 4:20:55 PM): Yes, I can! I can confirm that this will be
accepted as well!
Customer (2021-02-09, 4:21:32 PM): great! thank you very much for all your help
Vipeijan.