Can I transfer funds from my Tax-Free Savings Account (TFSA) with one bank to a TFSA with another bank? Can I hold more than one TFSA account?

Transfers between TFSAs at different institutions is possible and works similar to the RSP transfer process. You can hold more than one TFSA, but the total of your contributions between all TFSAs you hold can't exceed your annual contribution limit.

Example: If you have a TFSA contribution limit of $5,500 for the year, you can contribute $3,500 to a Tax-Free Savings Account and $1,000 to a Tax-Free Guaranteed Investment with Tangerine, and then you can put $1,000 in a TFSA with another bank, as long as you don't contribute more than $5,500 in total for the year.

Similar to a Retirement Savings Plan (RSP), you'll need to monitor your contributions each year to make sure you don't exceed your allowed contribution.