Deal has expired, view more bank account bonuses by clicking here
Update: Fine print says ‘This offer is intended for addressees of mail and email correspondences only and is not transferable’ so this is a targeted offer unfortunately
Offer at a glance
- Maximum bonus amount: $250
- 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: One
- Expiration date: November 29th, 2019
Contents
The Offer
- TIAA Bank is offering a bonus of $250 when you open a new checking account and complete the following requirements:
- Make qualifying direct deposits totaling at least $1,000 within 90 days of account opening
The Fine Print
- This offer is only available to customers opening their first TIAA Bank Yield Pledge Checking Account by 11/29/2019, applied for online from this webpage or by calling the number referenced above. This offer is not available to previous or existing Yield Pledge Checking Account customers and it may not be combined with any other checking account offers from TIAA Bank. This offer is intended for addressees of mail and email correspondences only and is not transferable. Limit 1 reward per household whether the account is joint or single.
- In order to receive the $250 cash bonus from TIAA Bank, you must (1) open a new Yield Pledge Checking Account by 11/29/2019 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 within the first 90 days of the account being opened. Account opening deposit must be new money (funds transferred from another financial institution) and may be satisfied with a qualifying direct deposit. Qualifying direct deposits include electronic deposits into your account of your (1) pension, paycheck, and government benefits (including Social Security) by your employer or the government; and (2) other regular income, such as annuity payments. Transactions that do not constitute qualifying direct deposits for this offer include, but are not limited to, person-to person transfers, transfers between your TIAA Bank accounts or accounts you have at other banks or financial institutions (including investment and brokerage firms), wires, and checks deposited by any means. TIAA Bank expressly reserves the right to determine, in its sole and absolute discretion, whether any deposit constitutes a “qualifying direct deposit” for purposes of this offer.
- If the qualifications described above are met, the $250 cash bonus will be directly deposited into your Yield Pledge Checking Account within 120 days of the account opening date, only so long as your account has remained open and is in good standing on the date the reward is paid. This offer expires on 11/29/2019. Keep this offer for your records.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
Checking account has no monthly fees
Early Account Termination Fee
Account must be kept open for 120 days
Our Verdict
Previously the best checking bonus we’ve seen from TIAA was $150, so this is an extra $100 and the requirements are exactly the same. This bonus is definitely worth doing, requirements are relatively easy and it’s relatively rare to see nationwide bonuses this big from smaller financial institutions. We will add this to our best checking bonuses page.
Hat tip to @NoonRadar
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
