ATB Wealth RESP account

Let ATB Wealth help you with education savings for the special child in your life.

Available through ATB Wealth


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Details

Overview

An RESP is a tax-deferred savings plan that makes it easier to save money for a child's post-secondary education. ATB Wealth helps you select the best investments for your RESP, from GICs, mutual funds, stocks and bonds and even a specially designed RESP savings account, the Daily Interest Savings Account.

Current rules allow you to contribute a lifetime maximum of $50,000 per child with no annual contribution limit. You can grow your savings faster with financial assistance from federal and provincial government grants. ATB will apply for all eligible grants for you once the RESP is set-up. To set up an RESP and receive government grant money, your child needs a birth certificate and a social insurance number (SIN)

Pricing

  • Interest earned
    • Thanks to the Canadian Education Savings Grant (CESG), the federal government supplements RESP contributions, matching up to 20% of your annual contribution (to a maximum of $500 per beneficiary per calendar year.) Other grants may be available as well.
  • Cashability
    • All money in the plan grows tax-free until it's withdrawn, and when your child starts using the money for school, only the accumulated interest is taxable as income. If your child decides not to attend post-secondary, you can:
      • Designate an alternate beneficiary
      • Transfer the income earned (up to a maximum of $50,000) into an RRSP, provided there is unused contribution room in the RRSP
      • Withdraw the funds
      • Donate the income earned to a post-secondary institution

Additional Information

  • Other features
    • You can choose from individual plans (one beneficiary) or family plans (multiple beneficiaries)
    • Anyone can contribute to a child's RESP, not just the parents of the child.
  • Notes

    ATB Wealth consists of a range of financial services provided by ATB Financial and certain of its subsidiaries. ATB Investment Management Inc., ATB Securities Inc., and ATB Insurance Advisors Inc. are individually licensed users of the registered trade name ATB Wealth. ATB Securities Inc. is a member of the Canadian Investor Protection Fund and Investment Industry Regulatory Organization of Canada.

    ATB Investment Management Inc. ("ATBIM") manages the Compass Portfolio Series. ATBIM and ATB Securities Inc. ("ATBSI") are wholly owned subsidiaries of ATB Financial, and may operate under the registered trademark ATB Wealth. Additional information about the Compass Portfolio Series and other important disclosures may be found at compassportfolios.com

Details

Overview

An RESP is a tax-deferred savings plan that makes it easier to save money for a child's post-secondary education. ATB Wealth helps you select the best investments for your RESP, from GICs, mutual funds, stocks and bonds and even a specially designed RESP savings account, the Daily Interest Savings Account.

Current rules allow you to contribute a lifetime maximum of $50,000 per child with no annual contribution limit. You can grow your savings faster with financial assistance from federal and provincial government grants. ATB will apply for all eligible grants for you once the RESP is set-up. To set up an RESP and receive government grant money, your child needs a birth certificate and a social insurance number (SIN)

Pricing

  • Interest earned
    • Thanks to the Canadian Education Savings Grant (CESG), the federal government supplements RESP contributions, matching up to 20% of your annual contribution (to a maximum of $500 per beneficiary per calendar year.) Other grants may be available as well.
  • Cashability
    • All money in the plan grows tax-free until it's withdrawn, and when your child starts using the money for school, only the accumulated interest is taxable as income. If your child decides not to attend post-secondary, you can:
      • Designate an alternate beneficiary
      • Transfer the income earned (up to a maximum of $50,000) into an RRSP, provided there is unused contribution room in the RRSP
      • Withdraw the funds
      • Donate the income earned to a post-secondary institution

Additional Information

  • Other features
    • You can choose from individual plans (one beneficiary) or family plans (multiple beneficiaries)
    • Anyone can contribute to a child's RESP, not just the parents of the child.
  • Notes

    ATB Wealth consists of a range of financial services provided by ATB Financial and certain of its subsidiaries. ATB Investment Management Inc., ATB Securities Inc., and ATB Insurance Advisors Inc. are individually licensed users of the registered trade name ATB Wealth. ATB Securities Inc. is a member of the Canadian Investor Protection Fund and Investment Industry Regulatory Organization of Canada.

    ATB Investment Management Inc. ("ATBIM") manages the Compass Portfolio Series. ATBIM and ATB Securities Inc. ("ATBSI") are wholly owned subsidiaries of ATB Financial, and may operate under the registered trademark ATB Wealth. Additional information about the Compass Portfolio Series and other important disclosures may be found at compassportfolios.com

  • Contact Us
  • 1-844-642-7940
  • Monday - Friday 9am - 6pm
  • Saturday 9am - 5pm

Available through ATB Wealth


  • Clicking the button will open a new page of ATB.com

You May Also Like

  • Contact Us
  • 1-844-642-7940
  • Monday - Friday 9am - 6pm
  • Saturday 9am - 5pm