TD Bank is offering up to a $500 bonus when you open a new checking and savings account. You get $300 for the checking account, and another $200 for savings.
Requirements
- $300 bonus offer when opening a TD Beyond Checking
- Bonus offer available to eligible new personal checking Customers when opening a TD Beyond Checking or any new TD personal checking account with cumulative direct deposit funds of $2,500 or more into the new account within 90 days of account opening.
PLUS
- $200 bonus when opening a Preferred Savings account
- Enjoy $200 when you deposit $20,000 or more in new money within 20 days and maintain a balance of at least $20,000 for 90 days.
Bonus will be credited into the new personal checking account no later than 95 days from account opening, assuming the conditions are met. Account must remain open, active, in good standing, and in the same product type through the qualifying period to receive the bonus. As with most bank bonuses, it will be reported as taxable income to the IRS on a 1099-MISC.
If either checking or savings account is closed by the Customer or TD Bank within 6 months after account opening, TD Bank does reserve the right to deduct the bonus amount from that account at closing.
Eligibility
This offer is available to residents in CT, DE, Washington D.C., FL, ME, MD, MA, NC, NH, NJ, NY, PA, RI, SC, VT, VA.
One bonus per Customer and cannot be combined with any other offer.
Offer is available only to new personal checking Customers who do not have an existing or prior personal checking account at TD Bank. This means that if you have had a TD checking account previously you do not qualify.
Offer available only to the person addressed on the mailer. But there’s no unique code and there’s a public link.
Fees
TD Simple Checking should qualify for this bonus. It has a $15 monthly fee that is easily waived with a minimum daily balance of $100.
Savings account doesn’t have any fees.
Guru’s Wrap-Up
This bonus is now better as Simple Checking should qualify for the checking offer. The $15 fee can be easily waived with a $100 balance. One issue is the direct deposit. If you can easily switch your direct deposit, that would be the best option. Otherwise, you can do a ACH transfer from another checking account such as Capital One, Chase or Discover. Then you have the savings bonus. You need to leave $20K in the account for 90 days in order to get $200, which is a 4% return. Not that great, but still a good rate.
Warning: There’s conflicting information on the TD page. TD Simple Checking could have a $5.99 fee that cannot be waived, instead of $15 waived with $100 balance. The Convienience Checking could also be an option $15 monthly fee waived with a minimum daily balance of $100. But again there’s conflicting information on the TD website. It could be a $150 bonus instead of $300. Might be best to double check with a service rep before applying.
There’s targeted language in the terms, but there’s no unique code included and there’s a public link.Still could be a good idea to check before you apply.
Offer Details
- Apply Here
- Account Type: Simple Checking plus Preferred Savings
- Availability: CT, DE, Washington D.C., FL, ME, MD, MA, NC, NH, NJ, NY, PA, RI, SC, VT, VA
- Expiration Date:
3/13/20195/8/20198/8/2019 - Inquiry Type: Soft pull
- Credit Card Funding: Yes, up to $300
- Direct Deposit Requirement: $2,500 total in 90 days
- Other Requirements: $20K balance for 90 days for Savings bonus
- Monthly Fee: $15 but can be waived
- Closing Account Fee: If either checking or savings account is closed within 6 months, TD Bank could deduct the bonus
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This looks compelling, better than previous TD offers. But few devils seem lurking in the details.
1. You write that, “Simple Checking should qualify for the checking offer.” Took me a while to discern how you knew that….. but still not sure how to apply for the simple checking to get the deal. (as the form seems to default to the How do you know that? Where’s that in the link you provided above?
2. The $15 fee can be easily waived with a $100 balance.” (And that’s confirmed on the offer page) But when I follow the links to the Simple Checking overview, it indicates under “what you pay”
Monthly Maintenance Fee
$5.99
Daily Balance to Waive Fee
None
i.e., you apparently can’t get the (lower) monthly fee waived…. Confusing/sloppy of TD bank
What am I missing?
wish we could edit our comments …. (I garbled point 1…. meant to stop with application form seems to default to TD Beyond Checking… and I freeze right there. Can you even open the “simple checking” and get the deal on line? Do they have any editors at TD Bank? Or maybe they can’t edit their posts either… 🙁 )
maybe you need to create an account to be able to edit comments?
I think it was showing the fee and the waiving option when I wrote the post, but yes, I see same thing now. One thing on the offer page and $5.99 after you click.
And you’re right, It does default to Beyond Checking. Terms say “$300 bonus offer available to eligible new personal checking customers who open any personal TD Bank Checking account”. But then again when you click the Convenience Checking link ($0 fee waived with a minimum daily balance of $100) it shows a $150 bonus ($150 when you receive direct deposits totaling $500 or more within 60 days).
According to the notes under the rules for the bonus the direct deposit cannot be an ACH transfer. Also you fail to mention that the accounts need to remain open for at least 6 months or the bonus may be deducted from the funds withdrawn.
Thanks for pointing out the 6 months requirement, I missed that. I’ll update it.
As for the DD requirement, that’s usually the case with most bank bonuses, but ACH transfers still work. It’s always best to do actual direct deposits though for those who can.