Offer at a glance
- Maximum bonus amount: Android Smartphone
- Availability: CT, DC, DE, FL, MD, ME, MA, NC, NH, NJ, NY, PA, RI, SC, VT, & VA only.
- Direct deposit required: No
- Additional requirements: None
- Hard/soft pull: Soft
- Credit card funding: Up to $300
- Monthly fees: Up to $25, waive-able
- Early account termination fee: Possible $15 ($0 after 90 days)
- Expiration date: Unkown
The Offer
- Open a new personal checking account online and receive a free Android phone.
You will have to lock yourself into a 2-year agreement and there isn’t a whole lot of detail on the site about the phone or the plan. Presumably, it will be a standard 2-year contact with one of the major carriers.
Update: A reader found a link to the available phones – Link.
The Fine Print
- Android phone offer is eligible on all checking accounts.
- Checking account must be open online.
- Offer valid while supplies last.
- Phone offer must be redeemed within 60 days of the submitted application.
- Free phone offer is only available with select service plans, data and messaging features and a new two-year subscriber agreement.
- Price valid for primary and secondary lines only.
- Phone offer is subject to identity, credit, and/or eligibility check, and may require a deposit.
- Contract renewal and upgrade options may also be available for existing eligible customers, however price may vary. Service may not be available in all markets or on all wireless carriers.
- Must be 18 or older to qualify.
- Not valid with any other offer or for business accounts.
- Limited time offer.
Avoiding Fees
All checking accounts are eligible for this offer:
- TD Convenience – $15 Monthly Fee, waived when you maintain $100 balance
- TD Student – $0 monthly fee, available for full-time students under the age of 24
- TD Simple – $5.99 monthly fee, non-waivable
Those are the basic options. See more options here.
Early Account Termination Fee
In their online fee schedule, there is no mention of an early account termination fee. Whereas on this help page they say there is an early account termination fee of $15 if you close the account within 90 days. That page does redirect to the Canadian site so that may be the difference. In any case, we’ll be cautious and say to keep the account for 90 days before closing.
Our Verdict
This bank bonus is a real easy one; just choose the TD Convenience option and park $100 in it to keep it fee-free. There are no additional requirements. Even students can get this deal as well using the Student checking account.
It’s unclear what the tax implications are for this offer – it’s possible they’ll issue a 1099, but I don’t see that mentioned in the fine print and in a previous offer they did mention it, so I’m optimistic that there won’t be any 1099 for this.
It’s also unclear which phone is being offered and that makes it really hard to put a value on this deal. Often you can get certain phones free with a 2-year contract, in which case TD isn’t doing anything for you. Newer phones usually don’t have such offers; if TD is offering a better phone there can be a nice value here.
If anyone goes for this offer, let us know more details on what phone is offered and which plan you need to lock into.
HT: Reader Carlos
