Deal has expired, view more bank account bonuses by clicking here
Offer at a glance
- Maximum bonus amount: $200
- Availability: MN, MI, IL, WI, CO, AZ or SD
- Direct deposit required: Optional
- Additional requirements: Use promo code
- Hard/soft pull: Soft pull
- ChexSystems: Unknown, approved with a frozen report
- Credit card funding: Up to $100 Visa & Mastercard only
- Monthly fees: None
- Early account termination fee: None
- Household limit: One
- Expiration date: None listed
Contents
The Offer
- TCF Bank is offering a bonus of $200 when you complete the following requirements:
- Use promo code DG200
- Open a TCF Free Checking account
- Do one of the following within 60 days of account opening :
- Receive direct deposits totaling $500 or more
- Enroll in TCF digital banking and make $250 in online bill payments within 60 days of account opening
The Fine Print
- Open a new TCF Free Checking account online or at any TCF branch in MN, MI, IL, WI, CO, AZ or SD.
- Eligible accounts require a minimum opening deposit of $25.
- There is no monthly maintenance fee for active Free Checking accounts with online statements.
- Then, within 60 days of your account opening date, receive direct deposits totaling $500 or more OR enroll in TCF digital banking and complete $250 in one or more online bill payments using TCF online bill pay.
- Upon verification, we’ll deposit $200 into your new checking account the business day following the criteria verification.
- Your account must be open to receive the credit. T
- his offer does not apply if you have an existing TCF consumer checking account or closed an account within the previous 12 months.
- You are responsible for all applicable taxes.
- This offer is subject to change prior to the opening of an account.
- A valid promotion code must be entered at the time of account application.
- One offer per household.
- This offer is not transferable.
- TCF employees are not eligible for this offer.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
This account has no monthly fees to worry about. There is a $3 fee if you receive paper statements.
Early Account Termination Fee
According to this fee schedule there is no early account termination fee
Our Verdict
We’ve seen previous offers with the same requirements but for $250, this time it’s publicly available but the bonus is only $200. I think this offer won’t last too long if I’m being honest (not really sure why, just a gut feel). If you’re interested in doing this bonus (and I think it’s worth doing) I’d recommend doing it now. I’ll be adding this to our list of the best checking account bonuses.
Hat tip to reader Lina M
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
- PSA: Don’t Call The Bank
- Introduction To ChexSystems
- Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
- What Banks & Credit Unions Do/Don’t Pull ChexSystems?
- How To Use Our Direct Deposit Page For Bank Bonuses Page
- Common Bank Bonus Misconceptions + Why You Should Give Them A Go
- How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
- Affiliate Links & Bank Bonuses – We Won’t Be Using Them
- Complete List Of Ways To Close Bank Accounts At Each Bank
- Banks That Allow/Don’t Allow Out Of State Checking Applications
- Bank Bonus Posting Times
Has anyone received a 1099-INT for this bonus? I have not so I called Customer Service and got someone in a foreign land who said that I would not receive one because it was not considered interest?
I have not and do not expect to receive one. I had sent them a secure message asking if 1099s would be posted on their site and they responded that they are only mailed, and only if required.
Banks are required to send 1099s for >$10 interest (1099-INT) or >$600 non employee compensation or misc income (1099-MISC) but some banks choose to issue for less. I imagine TCF is considering this as misc income and not issuing because they are not required to do so and there is a cost to issuing them.
If they considered it miscellaneous income, wouldn’t they issue a 1099-Misc? Basically if they issue nothing, what is our standing in reporting it on our return? It is obviously more that $10.00.
Sounds a lot like PNC. I sent a SM today to see if I will also.
Sorry, wrong post. See $300 TCF bonus.
10/18: Account opened
10/21: $501 Ally push
10/22: Bonus posted
Regarding closing, didn’t see an option to send a SM within the messages screen. Called in to close just now and it took less than 5 minutes.
Anyone close their account(s) yet?
That’s what I’m wondering too. On one hand, there’s no ETF but it’s such an easy bonus that I wouldn’t want to make myself ineligible to get another bonus in the future.
“This offer does not apply if you have an existing TCF consumer checking account or closed an account within the previous 12 months.”
You wouldn’t be eligible for a future bonus if you don’t close your account, right? Although also to consider is that it’s limit one per household.
What I meant was that, some banks won’t let you sign up for another bonus, if you had closed the account too quickly after receiving the previous bonus.
Far more common is the “previous 12 months” language, providing incentive to close quickly – ABC, Always Be Closing – so you’re eligible for the next one
My Fidelity visa coded as a purchase now I’m waiting for the bonus to pay after the bill pay.
10/22 Opened account online (funded $100 using CIU which posted as a purchase)
10/23 $500 push from Ally posted (“ALLY BANK P2P”)
10/24 $100 CC funding posted
10/25 $200 bonus posted with 10/24 date
Household member also applied for their own account on 10/22 — will deposit some cash today and do the $250 bill pay option next week (Fidelity checking wasn’t giving option to verify TCF account online for bank transfer so can’t push funds from there)
Family member got their bonus so no household limit enforced:
10/22 Opened account online (funded $100 using CIU which posted as a purchase)
10/24 $100 CC funding posted
10/29 $250 bill pay
10/31 $200 bonus posted with 10/30 date
Pushed $501 from Huntington Bank & received $200 bonus the very next day after it hit the account. It was coded as “HUNABK CK WEBXFR P2P – Uncategorized Income”. One of the fastest bonus payouts ever! Thanks DoC & everyone else providing DPs!
Should I wait 6 months to close this or close it right away? Given that this is churnable, I was thinking, I’ll give it a month or so, & then close it, so that I can be eligible for the next bonus faster.
Received the bonus one day after I meet the requirements. I meet the requirements on Monday and the $200 was deposited at Tuesday night.
Thanks
anyone else geting this error when trying to login to their online banking: “Sorry, TCF doesn’t recognize that login ID. Please try again.”
I was able to login fine a few days ago. The “Forgot login ID” option is useless because it asks for a PIN that I never setup.
This is really frustrating. I’m 100% entering my login ID correctly and yet they are now saying they don’t recognize it…
Try a different browser? That’s what I do when I get log in errors. Sometimes you will get a login error when you’ve been restricted which forces you to call.
Ran into this a second time now on another family member’s account. This BS is enough for us to step into the bank when convenient and close out the account.
I was getting that. Turns out that while previously logging in with my username that had mixed case worked fine (I registered with my name as the username as “FirstLast”), to log back in successfully, I needed to use my username in all lowercase. ¯\\_(ツ)_/¯