Fees to Transfer an RESP: What Families Should Know

Quick Answers

• Some RESP providers charge a transfer-out fee when you move to a new provider.
• Some receiving providers may reimburse all or part of that fee — but terms vary by provider.
• Transfer fees cannot be charged against your child’s grant account or Canada Learning Bond (CLB) account.

Yes, some RESP providers charge a transfer-out fee when you move your plan to another institution. The transfer itself is often not taxable when the beneficiary stays the same — but that does not mean the move is always free. Fees may still apply, and the exact amount depends on your current provider’s policies. At Embark, we want you to have the full picture before making any decisions about your RESP.

The good news is that knowing what to look for before you start makes the whole process easier. This Embark guide breaks down what transfer fees are, who usually charges them, and what families should confirm before deciding to switch.

Key Takeaways

• Some RESP providers charge a transfer-out fee when you move your plan — the amount varies, so always ask your current provider before you start.
• Transfer fees are separate from taxes. Most same-beneficiary transfers don’t trigger a taxable event, but fees can still apply.
• Your child’s government grants (CESG, CLB) cannot be used to pay transfer fees — those funds are protected under Canadian regulations.
• Some receiving providers will reimburse your transfer-out fee as part of the switch. Always confirm the terms in writing before you begin.
• Before transferring, check that the new provider supports your plan type, all grants attached to your RESP, and the correct transfer form.
• A transfer fee may be worth paying if the new provider is a better long-term fit — lower ongoing costs, better support, or stronger grant coverage.

What fees can come with an RESP transfer

There are a few different types of charges that may come up when you move an RESP to a new provider:

Transfer-out fee: This is the most common one. Some providers charge a flat fee when you move your RESP to another institution. Think of it like an exit charge for leaving.

Transfer-in fee: These are less common. Some receiving providers charge a small administrative fee to process an incoming RESP transfer, though many, including Embark, do not.

Administrative or processing fees: Depending on your current plan and provider, there may also be smaller charges tied to closing an account or handling paperwork.

Not every provider charges these fees, and the amounts vary. The only way to know for sure is to ask your current provider directly before you start.

Who usually charges the fee when you move an RESP

In most cases, the fee comes from your current provider — the one you are leaving. Some call it a transfer-out fee; others describe it as an exit or service charge.

The provider you are moving to may or may not charge anything. In fact, some receiving providers do the opposite: they offer to reimburse your transfer-out fee to welcome you as a new client. To give a real-world sense of how this looks, RBC Royal Bank publicly lists a service fee for transferring RESP property to a non-RBC institution. On the receiving side, providers such as RBC Direct Investing and Questrade have advertised transfer-fee rebates for incoming clients.

These are examples only — not a universal rule. Fee amounts and rebate offers can change, and they vary depending on your specific plan and provider.

Do transfer fees come out of grants

This is one of the most important things for families to understand.

If a transfer fee applies, it should come from the non-grant portion of your RESP — not from the Canada Education Savings Grant (CESG), the Additional CESG, or any CLB amounts your child has built up. The government money in your plan should not be used to cover transfer costs, under the Canada Education Savings Regulations.

If you ever notice a fee being deducted from your grant balance, that is worth raising directly with your provider and checking against the Government of Canada’s education savings guidance.

What families should check before switching providers

Before you start a transfer, take a few minutes to confirm the following with both your current provider and the one you plan to move to:

• Transfer-out fee: Ask your current provider what they charge when you move the RESP away. Get the amount in writing.
• Transfer-in or admin fees: Ask the receiving provider if they charge anything to process an incoming RESP transfer. Embark, unlike many providers, actually offers a transfer-in bonus on your funds.
• Grant and incentive support: Not every provider supports every provincial grant or incentive. If your RESP holds grants beyond the basic CESG — such as provincial programs — confirm the new provider can continue to receive them. See our article on how much the government contributes to an RESP for a breakdown of available grants.
• Plan type compatibility: If you have a family RESP, confirm the new provider supports that structure. Adding children or transferring balances between siblings may involve extra steps at some institutions.
• Transfer form version: The Government of Canada requires providers to use a specific, current RESP transfer form. Ask both providers which form they use and confirm it is the approved version.
• Rebate terms: If the new provider has advertised a fee rebate or reimbursement, ask for the full details — the amount, when it is paid, and what conditions apply — before you sign anything.
• Transfer type: whether the transfer is made in-kind or as cash, Embark’s Student Plan handles glide path investing automatically, making your investments one less thing to worry about.

When a fee rebate can change the math

At Embark, most transferring families qualify for a bonus that can also attract additional government grants, which means the math often works strongly in your favour.

These offers are real, but they are provider specific. The amount covered, any maximum reimbursement, and the eligibility conditions all vary. A rebate that covers the full fee at one provider might only cover part of it at another — or not exist at all.

If a rebate is part of your decision, ask the receiving provider to confirm the terms in writing before you begin the transfer. Do not assume a rebate applies automatically.

Are RESP transfer fees worth paying

Whether a transfer fee is worth it depends on what you are moving toward, not just what you are paying to leave.

A one-time transfer fee may be worth paying if the new provider charges lower ongoing fees, offers better digital tools and account management, supports all the grants and incentives already in your plan, or is simply a better fit as your child gets closer to using the money.

If you’re considering a move, an Embark Education Savings Specialist can help you think through whether switching makes sense for your family’s situation — no jargon, no pressure. You’ll know exactly where your money is at every step, with proactive updates from Embark so you’re never left wondering

If you are weighing other options — such as closing your RESP or moving funds to an RRSP — those paths involve different rules and tax considerations. It is worth reading up on each option separately before deciding which direction makes the most sense for your family.

Why fees don’t stop most families from making the move

One of the most common reasons families come to Embark isn’t a new baby or a fresh start — it’s an older child and a bad experience trying to get money out. Many parents discover too late that the RESP provider that was easy to open an account with makes withdrawals confusing, slow, or frustrating. EAP limits, investment timing, what to sell and when — it adds up fast when your teenager is months away from their first tuition bill.

For those families, a transfer-out fee is almost beside the point. They’re not leaving because of cost. They’re leaving because withdrawals are complicated, and they want a provider who makes that final chapter as straightforward as the first one. If that sounds familiar, you’re not alone — and the earlier you make the move, the more time the Embark Student Plan’s glide path has to position your savings correctly before your child needs them.

Common mistakes families make before moving an RESP

A few things that often lead to surprises or delays:

• Focusing only on the fee and not on grant compatibility. A low or waived transfer fee does not help if the new provider cannot support the grants already in your plan.
• Assuming every provider handles family plans the same way. Family RESP rules vary between providers. See our overview of the pros and cons of a family RESP for context on how structures can differ.
• Assuming a rebate is guaranteed. Advertised rebates are offers, not promises. They often come with conditions, timelines, and maximum amounts.
• Starting the transfer without checking the paperwork first. Using an outdated transfer form or skipping a required step can slow down the process — potentially by weeks.

Frequently asked questions

Do transfer fees come out of grants?

No. Under the Canada Education Savings Regulations, RESP-related fees cannot be charged against the beneficiary’s grant account or CLB account. If a transfer fee applies, it should come from the non-grant portion of the plan.

How much are fees to transfer an RESP?

It depends on the provider. Some charge nothing at all. As one publicly listed example, RBC Royal Bank has listed a $150 service fee for transferring RESP property to a non-RBC institution. Always ask your current provider what they charge before you start.

Does every provider charge a transfer-out fee?

No. Some providers charge nothing, while others charge a flat fee. There is no standard amount that applies across the industry.

Can a new provider reimburse transfer fees?

Some receiving providers publicly advertise transfer-fee rebates or reimbursements. These offers vary in amount and conditions. Confirm the details directly with the receiving provider before you start the transfer.

Are RESP transfer fees separate from taxes?

Yes. Most same-beneficiary RESP transfers are not taxable events. Transfer fees are a separate cost set by your provider and are independent of how the transfer is treated for tax purposes.

Have more questions about moving your RESP? Embark’s Education Savings Specialists are here to help — with clear answers and no pressure. Visit embark.ca or start a conversation any time.