[Expired] TIAA Bank – $150 Checking & $200 Money Market Bonus

This offer has expired, view the best current checking bonuses by clicking here.

Update 11/2/2018: Introductory APR on the money market account has been increased to 2.15% APY (previously 1.8%). This is only slightly lower than the current best high yield savings account, making the money market bonus more attractive. Update: Despite the targeted language, customer service reps are saying it’s not actually targeted at all. To further back this up readers have reported seeing advertisements for this particular bonus on Instagram. In addition TIAA Bank acquired Ever Bank in June 2017 and if you were an Ever Bank Yield Pledge customer then you’re considered an existing user and are NOT eligible. Fine print says: Offers are only available to current TIAA customers. Marking this as targeted for now. Offer at a glance

• Maximum bonus amount: $350
• Availability: Nationwide
• Direct deposit required: Yes, $1,000+
• Additional requirements:
• Hard/soft pull: Soft pull
• ChexSystems: Unknown
• Credit card funding: None
• Monthly fees: None
• Early account termination fee: 120 days, bonus forfeit
• Household limit: None listed
• Expiration date: November 30th, 2018

The Offer

Direct link to offer

• TIAA Bank is offering a bonus of up to $350. There are two bonuses a $150 checking bonus and $200 money market bonus

Yield Pledge Checking Bonus $150

• Receive a bonus of $150 when you open a new yield pledge checking account and complete the following requirements:
  • Use promo code 14647
  • Make direct deposits totaling at least $1,000 within 90 days after account opening

 

Yield Pledge Money Market $200 Bonus

• Receive a bonus of $200 when you open a new yield pledge checking account and complete the following requirements:
  • Use promo code 14647
  • Deposit $20,000 and maintain that balance for at least 90 days after account opening

The Fine Print

Checking:

• This offer is only available to customers opening their first TIAA Bank Yield Pledge Checking Account by 11/30/2018, applied for online or by calling the phone number above and using the referenced promotion code. Only one (1) checking account offer is available per customer. This offer is not available to previous or existing TIAA Bank checking account customers.
• In order to receive the $150 bonus credit from TIAA Bank, you must (1) use the promotion code referenced above to open and fund a new Yield Pledge Checking Account with at least the minimum required opening deposit amount ($5000), transferred from another financial institution and then (2) initiate one or more qualifying direct deposits totaling at least $1,000 that are credited to your new Yield Pledge Checking Account (after the initial required opening deposit) within the first 90 days of the account being opened. Qualifying direct deposits include payroll, pension, Social Security, or other regular monthly income electronically deposited into your account by your employer or a government agency. External transfers, internal transfers and checks deposited through the mail, online, and/or by mobile device do not constitute qualifying direct deposits for this offer.
• If the qualifications described above are met, the $150 bonus credit will be directly deposited into your Yield Pledge Checking Account within 120 days of the account opening date, provided that your account remains open and is in good standing. If your account is not open or in good standing on the date the reward is paid, you will not receive the bonus credit.

Money market:

• This offer is only available to customers opening their first TIAA Bank Yield Pledge Money Market Account by 11/30/2018, applied for online or by calling the phone number above and using the referenced promotion code. Only one (1) money market account offer is available per customer. This offer is not available to previous or existing Yield Pledge Money Market Account customers.
• In order to receive the $200 bonus credit from TIAA Bank, you must (1) use the promotion code referenced above to open and fund a new Yield Pledge Money Market Account with a minimum opening deposit of $20,000 and (2) maintain at least that $20,000 minimum balance in the account every day for the 90 days after account opening, including through the 90th day after account opening. Your money market account must be funded with that $20,000 minimum opening deposit within 20 days of the account being opened or you will not be eligible for this offer. Funds transferred from an existing TIAA Bank account do not count toward the qualifying minimum opening deposit required for this offer.
• If the qualifications described above are met, the $200 bonus credit will be directly deposited into your Yield Pledge Money Market Account within 120 days of the account opening date, provided that the account remains open and is in good standing. If your account is not open or in good standing on the date the reward is paid, you will not receive the bonus credit.
• Bonuses are considered interest and may be reported on IRS Form 1099-INT.

Avoiding Fees

Monthly Fees

Both accounts have no monthly fee to worry about

Early Account Termination Fee

Accounts need to be kept open for 120 days otherwise you will forfeit the bonus

Our Verdict

Checking bonus seems worth doing, not the biggest offer ever but nationwide bonuses are relatively uncommon. The high yield account offers 2.15% APY, that’s  competitive with the best high yield savings accounts currently available and when you pair it with the $200 bonus it is worth doing if you have the liquid funds available (although I suspect people will have some of that tied up with Ally). I’ll be adding both of these bonuses to our best checking & savings account bonuses page. Useful posts regarding bank bonuses:

• A Beginners Guide To Bank Account Bonuses
• Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
• PSA: Don’t Call The Bank
• Introduction To ChexSystems
• Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
• What Banks & Credit Unions Do/Don’t Pull ChexSystems?
• How To Use Our Direct Deposit Page For Bank Bonuses Page
• 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?
• Affiliate Links & Bank Bonuses – We Won’t Be Using Them
• Complete List Of Ways To Close Bank Accounts At Each Bank
• Banks That Allow/Don’t Allow Out Of State Checking Applications
• Bank Bonus Posting Times