How do I withdraw money from my Tax-Free Savings Account (TFSA)?

To make a withdrawal from your TFSA:

  1. From your Accounts page, select your TFSA
  2. Go to Account Details and select TFSA Withdrawal
  3. Choose the account you want to transfer funds to
  4. Enter the amount of your withdrawal
  5. Select Continue to confirm the details

If you don’t see your TFSA when you try to contribute, try accessing it from the account summary screen. You’ll then be taken to the new Scotia Smart Investor experience to make your transfer.

In general, you can withdraw money from your TFSA at any time, and the amount you withdraw can be put back in your TFSA starting the following year without impacting your contribution room. Some specific product restrictions can apply, however, like GIC maturity dates.

Last updated January 4, 2024