Update 7/11/19: Deal is back and valid until 8/21
Update 3/21/19: Offer is back and valid until May 8th, 2019. Still targeted unfortunately. Hat tip to readers Amish M &
Offer at a glance
- Maximum bonus amount: $500
- Availability: Bonus is targeted, fine print clearly states ‘only to the person addressed on the mailer’
- Direct deposit required: Yes, $500+ for $150 bonus or $2,500 for $300 bonus
- Additional requirements: See below
- Hard/soft pull: Soft
- ChexSystems: Unknown
- Credit card funding: Up to $1,000 (a lot of cards process as cash advance)
- Monthly fees: Up to $25, waive-able
- Early account termination fee: Six months, bonus forfeit
- Household Limit: None mentioned
- Expiration date:
March 13th, 2019May 8th, 2019
- TD Bank is offering a bonuses of up to $500, bonuses are broken down as follows:
- $300 Premier Checking Bonus
- Open Premier checking account and make $2,500 in direct deposits within the first 90 days
- $150 Convenience Checking:
- Open Convenience checking account and make $500 in direct deposits within the first 90 days
- $200 Preferred Savings Bonus:
- Deposit $20,000 or more in new money within 20 days and maintain that balance for 90 days
- $300 Premier Checking Bonus
The Fine Print
- Offer valid from January 15, 2019, through March 13, 2019, and is available only to the person addressed on the mailer.
- Checking offer is available to new personal checking customers who do not have an existing or prior personal checking account at TD Bank and complete the required qualifying criteria.
- $300 bonus offer available to eligible new personal checking customers when opening a TD Premier CheckingSM or TD Relationship CheckingSM account with cumulative direct deposit funds of $2,500 or more into the new checking account within 90 days of account opening.
- $150 bonus available to eligible new personal checking customers when opening a TD Convenience CheckingSM account with cumulative direct deposit funds of $500 or more into the new checking direct deposits are recurring electronic account within 90 days of account opening.
- Qualifying deposits of your paycheck, pension or government benefits (such as Social Security) from your employer or the government. Person-to-person and bank transfers between your TD Bank accounts or accounts you have at other financial institutions or brokerages do not qualify. Payment received for goods sold do not qualify. Customers who are employed independently and receive CCD deposits may be required to submit satisfactory proof of payment such as a paystub.
- Savings offer is available to new personal savings customers who do not have an existing or prior personal savings or money market account at TD Bank and complete the required qualifying criteria. $200 bonus offer available to eligible new personal savings customers who open a TD Preferred SavingsSM, TD Simple SavingsSM or TD Growth Money MarketSM Account (CDs and IRAs excluded) and deposit $20,000 or more in new money within 20 calendar days of account opening and maintain a minimum daily balance of $20,000 for at least 90 days from the date the deposit requirement is met.
- New money is funds that are not currently held in a TD Bank retail deposit account. Broker, municipal, commercial and small business deposits are not included. Once the offer criterion is met, the bonus will be credited to the new personal checking and/or savings or money market account no later than 125 days from account opening. Account(s) must remain open, active and in good standing.
- 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.
- TD Bank may issue you an IRS Form 1099-MISC, or other appropriate forms reporting the value of the bonus.
- One bonus per account per customer and cannot be combined with any other offer. TD Bank employees and Canadian cross-border banking customers are not eligible.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
TD Convenience Checking $15 Monthly Fee
This is waived if you have a minimum daily balance of $100.
TD Premier Checking $25 Monthly Fee
This is waived if you have a minimum daily balance of $2,500.
TD Preferred Savings $15 Monthly Fee
This account has a $15 monthly fee, this is waived if you have a $20,000 minimum daily balance.
Early Account Termination Fee
In their online fee schedule, there is no mention of an early account termination fee. The fine print does say the accounts need to be kept open for 6 months or the bonus is forfeit though.
Update: You don’t need to open the Preferred Savings Account, so the savings bonus might actually be worth doing. More details in this comment.
The checking bonuses aren’t new and are publicly available. The only difference is the $200 savings bonus, the savings account offers an APY of 0.05%. Realistically you need $20,000 deposited in that account for six months to trigger the savings bonus, keep the account fee free and avoid the early account termination fee. If you put that same $20,000 into a high yield savings account earning 2.5% you’d earn $250 during that period so you’re actually worse off with this savings bonus. Because of that I’d recommend just sticking to the public checking bonuses instead.
Big thanks to reader, YAR & Orlando S who let us know. Learn how to find bonuses and contribute to the site here.
Useful posts regarding bank bonuses: