[NYC] TD Bank – Instant $150 Bonus for Opening Checking+Savings, Expires 10/18

[Update 10/15/15: We posted this a few days ago. We’ve now added two additional branches which are also making the same offer.]

Offer at a glance

• Maximum bonus amount: $150
• Availability: NYC (select branches)
• Direct deposit required: None
• Additional requirements: Requires $2500 in checking and $300 in savings
• Hard/soft pull: Soft
• Credit card funding: None
• Monthly fees: Waivable
• Early account termination fee: You can close account after 3 months
• Expiration date: 10/18/15

The Offer

TD Bank is opening a few new branches in NYC and has a special offer for new account holders.

• Open a checking account and fund with $2,500, plus open a savings account and fund with $300, and receive $150 Visa debit card – given on the spot.

The offer is available at the following three branches:

• 202 West 23rd Street, New York City
• 4941 Broadway, New York City
• 490 Myrtle Avenue, Brooklyn

The Fine Print

• Expires 10/18/15
• Offer is available even if you previously had a TD account in the past (existing TD checking/savings accountholders are probably not eligible)
• Must keep the above balances ($2,500 + $300) in account in order to avoid fees
• Account can be closed after 3 months
• Must apply in this NYC branch; offer not available online or in any other TD branch

Our Verdict

$150 is pretty good though not necessarily the greatest. Still, in this case, I think it’s really a good deal; the biggest pain about bank bonuses is the necessity to fulfill various conditions and then wait in hopes of the bonus coming through. In this case, you’ll walk out of the branch with $150 in hand – that’s awesome!

Another interesting thing is that this bonus may not get a 1099 form from the bank as most bonuses do since it’s just handed out at the time of account opening.

For those who live or work in the area, it sounds worthwhile to me. I’d recommend calling in first to find out when the least wait times are and to try scheduling an appointment (if that’s even possible). Also, verify all the details as to when you can close the accounts and how much needs to be in the account to avoid fees.

You are losing out a little interest since you’ll have $2,800 tied up for 3 months (around $7 of interest at 1% APY), but it’s still well worth it for the $150 bonus.

HT: badsister on Fatwallet who says the whole thing took him 10 minutes and Maximizingmoney