Posted by William Charles on October 31, 2017
Bank Account Bonuses

Published on October 31st, 2017 | by William Charles


[Expired] [Targeted] TIAA Direct Up To $500 Savings Bonus – Nationwide

This checking bonus has expired and is no longer available. Click here for a list of the best checking bonuses.

Offer at a glance

  • Maximum bonus amount: $100
  • Availability: Nationwide, targeted
  • Deposit Required: $10,000-$100,000
  • APY: 0.86%. Balances over 100,000 earn 1.1%
  • Additional requirements: None
  • Hard/soft pull: Soft pull
  • Credit card funding: None
  • Monthly fees: None
  • Early account termination fee: None
  • Household limit: None
  • Expiration date: December 31st, 2017

The Offer

Direct link to offer (please note this is a targeted offer, it states: “This offer is only intended for the addressee of this email, may not be combined with any other offers from TIAA Direct and is not available to existing money market customers“)

  • TIAA Direct is offering a bonus of up to $500 when you open a new money market account. You must use promo code MMA107MB. The bonus you receive depends on the balance you maintain for at least 120 days after account opening:
    • $10,000: $50 bonus
    • $25,000: $125 bonus
    • $50,000: $250 bonus
    • $75,000: $375 bonus
    • $100,000: $500 bonus

The Fine Print

  • This offer will be available for a new TIAA Direct Money Market account, applied for online or by calling 844-567-8970 using promotion code MMA107MB.
  • Only one (1) offer is available per customer.
  • This offer is only intended for the addressee of this email, may not be combined with any other offers from TIAA Direct and is not available to existing money market customers.
  • TIAA Direct will credit a $50 bonus to a new Money Market account if the account is opened by 12/31/2017, at least $10,000 is deposited within 20 days of account opening and at least that minimum balance is maintained in the account every day through the 120th day after account opening.
  • You can earn a greater bonus by maintaining a higher daily minimum balance as noted in the table above.
  • Funds transferred from an existing TIAA Direct account do not count toward the qualifying minimum balance for this promotional offer.
  • If the qualifications described above are met, a bonus in accordance with the table above will be credited to the account within 121 to 134 days of account opening, provided that the account remains open and is not overdrawn or subject to any holds, restrictions, or legal action or dispute on the bonus payment date.
  • The bonus may be reported to the Internal Revenue Service as interest on Form 1099-INT. Bonus recipients are responsible for any applicable taxes.

Avoiding Fees

There is no monthly maintenance fee for this account, there is also no mention of an early account termination fee on this account but you’ll need the account to be open to receive the bonus.

Our Verdict

  • $10,000: $50 bonus + ~$26 in interest
  • $25,000: $125 bonus + ~$65 in interest
  • $50,000: $250 bonus  ~$130 in interest
  • $75,000: $375 bonus + ~$195 in interest
  • $100,000: $500 bonus + ~$331.5 in interest

The $500 bonus is the best value because you’re earning at the higher 1.1% APY rate. Not as good as previous deals that required $15,000 for 100 days for a $250 bonus and is targeted. Won’t be adding this to our list of the best savings account bonuses.

Useful posts regarding bank bonuses:

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Any data if the targeted requirement is being enforced?

Yet Another Redditor

Not enforced last year when I did the previous one. The phone agent said the promo code is valid and attached it to my account. Got bonus as per the posted timeline and not earlier.


I’ve received this same offer for their other bank, EverBank. Not very appealing but free money is free money if you can float it!

Frito Pendejo
Frito Pendejo

I tried to do a previews TIAA bonus last year… checking I think. They charged me $5 to join, took my application, then reversed my CC funding and denied my checking account. I tried again months later, same result. They still have my five bucks and I still have a Shares Savings account or something. I think they manually review accounts. Seems like a small credit union

Michael G
Michael G

TIAA is not a credit union, so I think you have a wrong bank.

Ryan Danahey
Ryan Danahey

4 months is a loooooooooong time to keep money locked up in one place.

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