Your High Interest Savings Account (HISA) is designed for those people who have funds to stash away. However, they still have the peace of mind knowing they can have access to those funds at any time. Your HISA can be used under the new Tax-Free Savings Account (TFSA). The TFSA was rolled out with the government of Canada beginning January 1, 2009.

You have access to your funds and can perform online transfers free of charge. Although, the HISA and TFSA HISA have a $5.00 withdrawal/transfer-out charge because they aren't designed to be transactional accounts.