The Offer
TD is offering up to $50 for getting your tax refund deposited into your Ameritrade account. There are two tiers for the bonus:
- Get $50 when you deposit $5,000+
- Get $20 when you deposit $2,500 – $4,999
The Fine Print
- You must register for the promotion at the above landing page
- Deposit must be received by 7/31/17
- Bonus will be received in 4-6 weeks
- Account value of the qualifying account must remain equal to or greater than, the value after the net deposit was made (minus any losses due to trading or market volatility or margin debit balances) for 12 months, or TDÂ Ameritrade may charge the account for the cost of the offer at its sole discretion
- Offer Code: TAXREFUND17
Our Verdict
Presumably, you have to receive the full $2,500 or $5,000 as part of your tax refund to get the bonus, though the wording on the landing page is vague.
Not sure how many people are getting refunds that large, but if you are I’d think it’d be easy to get your tax refund into your Ameritrade account and then transfer it over to your regular checking account. Or leave it in Ameritrade if you want to do that.
Hat tip to Maximizingmoney
Ymmv I suppose. Terms aren’t clear. Still not worth it unless you were going to make a deposit anyway.
Looks like alternatively you register and just deposit a check
Registered for this. The fine print is that TD “may” take the bonus back if you don’t leave the deposited refund funds with them for 6 months. If you have ambitions for spending that cash in the nearer term this deal may not be for you. It really only works if you intend to save and invest your tax refund.
Oooh, I missed that. Thanks for pointing out, I’ll add.
I don’t think it would be worth the hassle for $50: But someone could send in an “Estimated tax payment” and then file taxes to collect the refund and direct deposit.
I’ll be keeping my eyes open for offers like this next year. A qualifying child will likely put my refund in this range.