Posted by William Charles on March 21, 2019
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Published on March 21st, 2019 | by William Charles

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[Expired] [Targeted] TD Bank $300 Checking & $200 Savings Bonus

Deal has expired, view more TD Bank deals by clicking here.

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, 2019 May 8th, 2019

The Offer

Direct link to offer

  • 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

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

Avoiding Fees

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.

Our Verdict

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:



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LC
LC

only certain states Doc. When applying it will let you get to the address and then you must select a state in their branch location ranges. I didnt count but i would say around 12-15 states only, mostly on east coast.

Pretty FI for a White Guy
Pretty FI for a White Guy

I got this offer despite closing my last account there in May, so we’ll see if it takes. Opening it tomorrow and hoping that “no prior checking account” rule may have a short time limit to it.

Yet Another Redditor
Yet Another Redditor

Good luck. Please report back if you get the bonus. I am about 2 years from my last bonus and I got the mailer too.

Brian
Brian

I was able to open the account yesterday despite having one in the past and getting the bonus. No idea if I’ll get it again but it’s worth a shot.

Yet Another Redditor
Yet Another Redditor

Online or In-branch? I have half a mind to step into a branch and ask the banker outright.. But that would violate the 1st rule of bank bonuses.. So.. will wait to see some DPs about getting the bonus again and may be try it in early March anyway.

Mike
Mike

Any updates on your bonus eligibility with the ‘no prior checking account’ language in the terms.. Received this mailer today (again) after having TD Checking accounts in the past.

gli
gli

TD bank’s wording is confusing – I got the mailer but I have had a checking account with them before. They say no prior checking account…. wonder why they keep marketing to me when I am apparently ineligible.

Bill S
Bill S

Same here — had prior account with no bonus many years ago. I asked and a banker at the local branch said you can’t get a bonus if you had a prior account even if receiving a targeted mailing. Any DPs to the contrary?

Pablo
Pablo

I just received a call from the bank earlier and they were following up on the targeted mailer. I asked them if I was still eligible for the signup bonus even though I used to have a checking account with them and they told me yes but I also know that the banker are not always correct so I will need to do some research to confirm if that is the case.

Yingy
Yingy

DP – tried the innitial load $500 of the premier checking account with CF didn’t go through (funding not successful).

Brandon
Brandon

Thanks for this…. was planning to try mine and knock out the min spend on this card. Shame

Yingy
Yingy

Same here…Neither with Amex (not even an option) on their website.

Yet Another Redditor
Yet Another Redditor

William Charles Savings offer can be done with any Savings Account like
TD Preferred Savings
TD Growth Money Market Account
TD Simple Savings
With a $20K deposit, TD Preferred Savings account has a 0.2% APY. Also the requirement of $20K is for 3 months only and not 6 months. This means it is effectively 4.2% APY for 3 months. After bonus, we can downgrade to TD Simple Savings and keep a balance of $300 for 3 more months to avoid Fees and ETF. This results in a blended APY of 4.14%

daisy
daisy

I don’t get it. How a 0.2% APY yields an effective 4.2% APY for 3 months???

Yet Another Redditor
Yet Another Redditor

When you factor in the $200 bonus in 3 months as effective interest, the effective APY is 4.2%

Mike
Mike

I’m seeing a 1.15% rate with preferred savings w/ boost from deposit and linked acct. I think credit cards are eligible for that link (according to the fine print).

So can I deposit 20K, get 1.15% for 3 months, switch to simple savings and withdraw all besides $300, and still get the bonus? According to the fine print, it may still take like 5 months AFTER the bonus period, so 8 months total to get the $200 … so I definitely don’t want to tie up 20K even at 1.15% for that long. But not sure if switching to simple negates the bonus or not. According to my flyer, it specifically states Preferred Savings, nothing about a bonus for other savings accts or what happens if we switch to one before the bonus is given.

Duke I.
Duke I.

I think these deals are great until all the 1099s comes in and decreases my overall tax refund amount.

Humberto de Richmond
Humberto de Richmond

That’s silly.

Alex
Alex

TD never sent a 1099 to me

Becky
Becky

Same here. This was the only form holding up filing my taxes. Went to a branch, they said they weren’t issuing at 1099 for the bank bonus.

datapoint
datapoint

How strict is this rule or is there any experience in being able to push the required 2500 via ACH and still count as DD ? “///… Person-to-person and bank transfers between your TD Bank accounts or accounts you have at other financial institutions or brokerages do not qualify…///”

Brandon
Brandon

FYI The answers/DP’s to this is always posted as a hyperlink above in the offer at a glace section next to “Direct deposit required” https://www.doctorofcredit.com/knowledge-base/list-methods-banks-count-direct-deposits/#TD_Bank

Jediherder
Jediherder

Any idea what’s up with the strong verbiage, yet folks have DP’s that prove otherwise? Is the bank lazy or what?

Adrian
Adrian

NV not eligible.

YX
YX

So I’m confused – if I didn’t receive the mailer, can I still apply online for the $500 bonus saving+checking?

kc
kc

Also interested to know the answer. It seems we can apply through this link anyway.

Christopher
Christopher

DP: attempted to fund $1k with Ink Biz Preferred, but got an email that said, “the funding of your new TD Bank account has been unsuccessful.” No fraud alerts or anything on Chase’s side.

Pablo
Pablo

Hmm, I received a phone call from these guys the other day and they mentioned that I received a mailer in my voicemail though I don’t remember seeing it in the mail. Anyway, I guess I was targeted but the thing is that I previously did the $300 checking account bonus with them about 1-2 years ago. I am wondering if anyone has any data points where if you did a sign up bonus with them a while ago and then was later targeted, would you be eligible to receive another sign up bonus? Thanks.

Deftek
Deftek

I got to the $300 offer through another website with this link:

https://www.tdbank.com/checking-aff-incentive-61/

Looks like the fine print is different and has no mention of a mailer. Is this the same offer?

Deftek
Deftek

damn. doesn’t have my state when i try to apply. Could be good for others who weren’t targeted though.

Realname
Realname

Not in CA but it will work for anyone else and like you said no fine print on being targeted

edit: I think is already in the best bank account bonuses for specific states.

TomJ
TomJ

I sent a SM asking about how to close my account. I was told to either do it in branch (which isn’t an option) or to send a notarized letter! Really???? Anyone have any experience closing an account at TD?

LovetoTravel15
LovetoTravel15

I have closed it through SM couple month ago. I did have to drained the account first to balance of 0 to closed. They tried to charge me a fee but i told them that i already requested to closed the account prior to the balance 0 so they refunded the fee.

Dan - Legal Bank Robber
Dan - Legal Bank Robber

Call

JL
JL

I read somewhere that in order to do it by phone or online, your balance has to be zero.

I closed mine with secure message, and my balance was zero when I did.

Erin
Erin

If I transfer money, make zero balance and close the account with secure message they will not charge monthly fee because I didn’t have $2500 for 1-2 days?

Erin
Erin

I opened the account 2 weeks ago, received checks and still wait for the card. They told me to wait 3 days more.
How soon they will charge $25 fee if I don’t have $2500 on the account? It’s almost the end of the month, idk the date of closing 1st cycle and ACH will take some time.
Is it safe to deposit $2500 before I receive the debit card?

Dan - Legal Bank Robber
Dan - Legal Bank Robber

Of course its safe to deposit the $2500.

Novacat05
Novacat05

Most banks give you at least 2 months before they start charging a monthly fee so that you can get everything set up, initial deposits cleared, etc. I don’t think you’ll have any issues.

If you do I’m sure it could be cleared up with a phone call simply explaining and asking to have the monthly fee waived. Most banks know that there are LOTS of banks competing for customers and if you call and politely ask about getting a fee refunded they will do it. However the onus is on you, the customer to ask. Many people simply pay it or don’t even notice, this is how they make money and can afford to waive the fee for people who call in and ask to have it waived.

Erin
Erin

Yeah, I already called them. Twice. First – wait for 2-3 days. And now – close the card, will send the new one, left the notice that we will wave the fee.
I received checks. No welcome kit, no card. “Most convenient bank” for sure.

The answer from online bank was:

With review we show a new debit card is processing however the signature card has not yet been received. This may prevent prompt arrival of your new card.

Customers have 30 days from the date of opening to fund an account in order to avoid the maintenance fee from posting on the last day of the statement cycle.

Due to the account being so new a statement cycle date has not yet populated.

NBG
NBG

Iam targeted via snail mail even though I closed the 2nd account after bonus end of last year. Wondering if I can try.

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