• Text:
  • Small Medium Large
  •   |  Print

Ask a question

What is a TFSA?



A Tax-free Savings Account (TFSA) is an account that lets your deposits grow quickly through tax-free compounding. You pay no income tax on investment returns earned in the account, and there are no taxes on amounts you withdraw.

For more information, visit our Tax-free Savings Account (TFSA) page.

 

Did this information answer your question?

Top 10 Questions

  1. How do I get a void cheque for a preauthorized deposit?
  2. How do I perform a wire transfer?
  3. What are the abbreviations for the transaction types for personal accounts?
  4. How do I find the branch/transit or account number?
  5. How do I find my BIC and IBAN numbers?
  6. How do I transfer money to another individual or small business?
  7. How do I set up Direct Deposit?
  8. What are the different transaction codes and their meanings?
  9. How do I get a replacement bank card or a credit card?
  10. How do I order cheques for my bank account?
questions?
  • 1-877-CALL-BMO
  • Locate an ABM or branch
Related?
  • Can I use my Tax Free Savings Account (TFSA) to make RSP contributions?
  • How do I make a withdrawal from my TFSA?
  • How do I transfer my TFSA to BMO?
  • How do I set up my TFSA?
  • How do I contribute to an existing TFSA Savings Account?
  • How do I contribute to an existing TFSA Mutual Fund?
  • Why can't I see my account in Online Banking?
  • What is the difference between pending and posted transactions?
  • What is a property tax account?
  • How do I transfer money to my account with BMO Harris Bank?