Compare RESP providers by fees, grants, investment options, transfers, and withdrawals.
RESP grants and bonds can transfer in eligible RESP-to-RESP transfers, but they are not ordinary cash. CESG, additional CESG, CLB, and provincial incentives have rules, and the receiving promoter must support the benefits that are being moved.
The Canada Education Savings Program material says incentive-transfer conditions matter for both full and partial transfers. If those conditions are not satisfied for an incentive administered by ESDC, the transferring promoter may have to repay incentive balances.
The most sensitive items are beneficiary-specific or province-specific amounts. CLB is tied to a particular beneficiary, and provincial incentives may depend on provider support and program rules.
Switching providers? Ask the new provider to start a registered RESP-to-RESP transfer — do not withdraw to cash or a bank account first, which can trigger grant repayment and tax consequences. Confirm the new provider supports your CESG, CLB, and provincial incentives, plus fees and timing. If school bills are near, ask which provider will process the first withdrawal: EAPs are normally capped at $8,000 in the first 13 consecutive weeks of full-time study ($4,000 part-time).
How to check this rule
Details that matter
CESG can be transfer-sensitive
CESG transfer conditions depend on beneficiary relationships, plan type, and registration rules.
CLB is beneficiary-specific
CLB transfers need special attention because the balance is connected to the eligible beneficiary.
Provincial incentives vary
BCTESG, QESI, and other provincial incentive handling depends on the program and provider support.
Repayment risk
If incentive-transfer rules are not met, the transferring promoter may have to repay incentive balances.
Example
Example: A family transfers an RESP with CESG and CLB. The new provider supports CESG but not the provincial incentive the child previously received. Before signing, the family asks both providers whether that incentive can transfer, must be repaid, or should affect the timing of the move.
Questions to ask your provider
What grant, bond, and provincial incentive balances are currently in the RESP?
Which of those benefits can you accept in a transfer-in?
Would any CESG, additional CESG, CLB, or provincial incentive have to be repaid?
How will transferred incentive balances appear on the new statement?
Do you support QESI or BCTESG if those amounts are relevant?
Read next
Transfer an RESP to another provider explains the broader decision and links to related tools.