Dedicated to Deposits: Deals, Data, and Discussion

$100 TD AMERITRADE Account Bonus

POSTED ON BY

This TD AMERITRADE promotion has been going on for awhile (I first mentioned it last year), but since it's scheduled to end on March 31st, I thought it's worthwhile to mention again. The promotional page is at www.tdameritrade.com/saveyourself/ and the offer code is 701. The downside about this promotion is that'll take over a year to receive the bonus. Nevertheless, the requirements are easy to meet:
  • Open a Save Yourself account by 3/31/2008
  • Set up electronic monthly deposits of at least $50 within 30 days of account opening
  • After 12 consecutive months of electronic deposits, TD AMERITRADE will verify that the deposits have been made and add $100 to your account.

One important detail in the small print states that you can withdraw the money before the end of the 12-months, but you'll forfeit the $100 bonus. The current yield of the account is 2.75% APY, so you'll probably won't want to deposit more than the minimum.

The FAQ page has some more details about this Save Yourself account:

The Save Yourself account is a brokerage account at TD AMERITRADE that you can open to follow Suze's Save Yourself Plan. The account features a special TD Bank USA, N.A. Money Market Deposit Account (MMDA) that is designed as a place where you can save money until you need it.

The Save Yourself account from TD AMERITRADE features a special high-yield MMDA with a 2.78% Annual Percentage Yield (as of February 1, 2008). **The MMDA is FDIC-insured and held at TD Bank USA, N.A. Interest rates are subject to change after the account is opened.

More info on TD Bank USA is available at this FDIC page (Certificate # 33947).
  Tags: savings account

Related Posts

Comments
12 comments.
Comment #1 by Anonymous posted on
Anonymous
I wonder if they have problems with customers who already have an account with TDAmeritrade opening a second one with this offer.

The whole 'employment info' requirement is a bit odd, though.

1
Comment #2 by Anonymous posted on
Anonymous
Based on my reading of the FAQ and fine print, existing TDA clients would qualify, as long as they open a new account with this promotion code (but no multiple accounts/bonuses with this code). Also note that the interest rate can change over the course of the year.

What is the "employment info" requirement; I didnt see anything mentioning employment.

1
Comment #3 by Kathie (anonymous) posted on
Kathie
TD Ameritrade will charge you $75 when you close your account. They did this when I transferred assets to my Fidelity account and Fidelity ends up with a debit that you're responsible for. If you ask for a check, they will deduct $75.

1
Comment #4 by Anonymous posted on
Anonymous
I also wonder if they will honor requests where the customer doesn't have the code from Suze's book. I had read about this promotion in a magazine and I thought the code was required.

1
Comment #5 by Banking Guy (anonymous) posted on
Banking Guy
I included an offer code in the first paragraph (701 seems to work). Other 3-digit codes also seem to work though. Some other codes do give you an error message. You may want to check with TD Ameritrade to confirm.

1
Comment #6 by Anonymous posted on
Anonymous
About the 'employment info' part of my comment, I entered the code and the next page lists:

"Before you begin you will need:

Social Security Number (if applicable)

Employment Information (including address)

Banking Information (so you can set up funding for your account)

The application process takes approximately 15 minutes to complete."

Items 1 and 3 seem obvious but employment info was odd. Maybe it is optional.

1
Comment #7 by Anonymous posted on
Anonymous
I signed up for the savings account. It seemed straightforward enough. They do ask for the name and address of your employer in the online form, but I think this is typical for opening a brokerage account. One doesn't need to have an employer, since for example one of the choices is homemaker. I checked with customer service by email, and they said there is no fee for closing the account after the bonus is collected. So it seems like an easy way to make $100 to me.

1
Comment #8 by Anonymous posted on
Anonymous
Kathie,

You were charged a fee for transferring assets out of the brokerage house not for closing the account. Every brokerage house charges a fee for transferring assets to another. If you had cash in your account they would just take the $75 before transferring that portion. Sounds like the transfer resulted in a negative balance so you had to bring it to $0.

1
Comment #9 by Anonymous posted on
Anonymous
Are the monthly automatic deposits initiated from Ameritrade and pulled in from an external account, or are they initiated externally and pushed to Ameritrade. Thanks for the info!

1
Comment #10 by Anonymous posted on
Anonymous
The deposits are initiated from Ameritrade, meaning you have to set it up from Ameritrade's end.

1
Comment #11 by Anonymous posted on
Anonymous
Maybe this is a stupid question...but...what is a brokerage account? how is it different from bank accounts? Could I withdraw the money anytime? If I want to cancel the account after getting the bonus, is there any hassel or any fees?
Thanks so much for help~!

1
Comment #12 by virgquest (anonymous) posted on
virgquest
I called to ask about account closing and the CSR said there was no fee to close the account after the year was up. Also, I believe the $$ is held in an FDIC-insured MMA account within a brokerage account, so unless you plan to trade stocks, it should work just like a regular MMA. And yes, you can withdraw the $$ anytime, but you may forfeit the bonus.

1