TD Bank $500 Business Checking Bonus [CT, DC, DE, FL, MD, ME, MA, NC, NH, NJ, NY, PA, RI, SC, VT, & VA]

Update 5/4/25: Deal is back until July 31, 2025

Offer at a glance

• Maximum bonus amount: $500
• Availability: CT, DC, DE, FL, MD, ME, MA, NC, NH, NJ, NY, PA, RI, SC, VT, & VA
• Direct deposit required: None
• 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: $10-$15, avoidable
• Early account termination fee: Six months, bonus forfeit
• Household Limit: None mentioned
• Expiration date: November 30, 2024

The Offer

Direct link to offer

• TD Bank is offering a $500 bonus when you open a new business checking account and complete the following requirements:
  • Deposit a minimum of $2,500 within the first 25 days and maintain at least a $2,500 balance for 90 additional days from the 25th day after account opening.
  • Conduct 25 qualifying transactions across the first 3 statement cycles (ACH debits/credits, bill pay, Merchant Solutions settlement transactions, incoming/outgoing wires, checks paid, small business Zelle transactions, Visa Business Debit card transactions, digital express remote deposits, and settlement transactions for TD Online Accounting or Tap-to-Pay on iPhone payments received)

The Fine Print

• Offer valid October 1, 2024 through November 30, 2024 and is available when opening a qualified Checking account at a TD Store or online.
• Checking Bonus: You will not qualify for the Checking Bonus if you are an existing TD Bank Business Checking customer OR had a previous Business Checking Account that was closed within the preceding 12 months OR have received a prior Business Checking account bonus at any time. Eligibility is determined based on the SSN/TIN of the business used to open the account.
• To qualify for the $500 Cash Back Offer: You must open a new Business Checking account. Business Simple Checking, Business Convenience Checking Plus, Business Interest Checking Plus or Business Premier Checking products are eligible. The criteria below must also be met:
  • Deposit a minimum of $2,500 within the first 25 days and maintain at least a $2,500 balance for 90 additional days from the 25th day after account opening.
  • Conduct 25 qualifying transactions across the first 3 statement cycles. Your eligible transactions include ACH debits/credits, bill pay, Merchant Solutions settlement transactions, incoming/outgoing wires, checks paid, small business Zelle transactions, Visa Business Debit card transactions, digital express remote deposits, and settlement transactions for TD Online Accounting or Tap-to-Pay on iPhone payments received.
• After you have completed the requirements outlined above, we’ll deposit the bonus in your new account on or before 180 days after account opening. To receive the bonus, your account must not be closed or restricted at the time of payout. If your new checking account is closed by you or TD Bank within 6 months after account opening, TD Bank reserves the right to deduct the bonus amount at closing.
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

• TD Business Simple Checking Account Guide has a $10 monthly fee that can’t be waived
• TD Business Convenience Checking Plus Account has a $15 monthly fee, this is waived with  $1,500 in Combined balances in TD Business Convenience Checking
  Plus and one personal checking

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

Think this is the first time we’ve seen a business checking bonus. There is a $300 personal checking & $200 savings bonus. Bonus itself is a bit tedious but worth doing if you’re eligible. I’ll add this to our best bank bonus page.

Hat tip to BankBonusIsMyReligion & Steph S

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• A Beginners Guide To Bank Account Bonuses
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• PSA: Don’t Call The Bank
• Introduction To ChexSystems
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• What Banks & Credit Unions Do/Don’t Pull ChexSystems?
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• 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?
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