What is the difference between transferring “in cash” and “in kind”?
In cash All assets in the account (or partial assets indicated) are sold or redeemed, and once settled, are transferred to the receiving institution in cash. “In cash” transfers are completed by the delivering institution based on market value and are subject to normal commission charges. Once transfer instructions are executed, all outstanding client trade orders will be cancelled without notice. In kind (as is) The account is transferred as is. All investments are transferred to the receiving institution at market value on the date of transfer. Where possible, and as allowed by Canada Revenue Agency (CRA), the book value of securities in registered plans will be transferred to the receiving plan.
