TD Bank Offers Online $150 and $300 Checking Bonuses

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Deal Summary: $150 Convenience Checking bonus and $300 Premier Checking bonus.

Availability: Checking bonuses are available only online to residents of CT, DC, DE, FL, ME, MD, MA, NH, NJ, NY, NC, PA, RI, SC, VA, and VT.

TD Bank is again now offering its $150 Convenience Checking bonus and $300 Premier Checking bonus that are available exclusively online to new checking customers. The promotion page states the this is a “limited time offer,” but no end-date is mentioned.

$150 Convenience Checking Bonus

  • Open a new Convenience Checking account online.
  • Have at least $500 in cumulative Direct Deposits* within 60 days of account opening.

$300 Premier Checking Bonus

  • Open a new Premier Checking account online.
  • Have at least $2.5k in cumulative Direct Deposits* within 60 days of account opening.
APYMINMAXINSTITUTIONPRODUCTDETAILS
0.05*%$2,500-TD BankTD Premier Checking
Accounts mentioned in this post. Rates as of June 24, 2017.

*Qualifying direct deposits are recurring electronic deposits of your paycheck, pension or government benefits (such as Social Security) from your Employer or the Government.

Person-to-Person and bank transfers between your TD Bank accounts or accounts you
have at other financial institutions or brokerages do not qualify.

General Requirements

  • Available only online to new personal checking customers, defined as those “who do not have an existing or prior personal checking account at TD Bank.”
  • One bonus per customer and cannot be combined with any other offer.
  • After the Direct Deposit criteria is fulfilled, the bonus will be credited to the new checking account within 95 days of account opening.
  • Checking account must be “open, active, in good standing, and in the same product type through the qualifying period to receive the bonus.”

Both checking accounts have monthly service fees ($15, Convenience Checking; $25, Premier Checking) that can be waived by maintaining a required minimum balance ($100, Convenience Checking; $2.5k, Premier Checking).

Availability

Headquartered in Wilmington, Delaware, TD Bank’s market area includes Connecticut, the District of Columbia, Delaware, Florida, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, North Carolina, Pennsylvania, Rhode Island, South Carolina, Virginia, and Vermont.

As stated above, applying for either checking bonus can only be done online. For any in-branch transactions, TD Bank has more than 1,300 branches located on the East Coast from Maine to Florida.

Bank Overview

TD Bank, National Association has an overall health grade of "A"+ at DepositAccounts.com, with a Texas ratio of 4.81% (excellent), based on December 31, 2016 data. In the past year, TD Bank has increased its total non-brokered deposits by $10.38 billion, an excellent annual growth rate of 7.3%. Please refer to our financial overview of TD Bank, National Association for more details.

Founded in 1852 as the Penobscot Savings Bank in Bangor, Maine, TD Bank has gone through seven name changes, 29 acquisitions, and three headquarter relocations in the past 39 years. TD Bank is currently the eighth largest bank in the country, with assets in excess of $269 billion and more than 16.1 million customer accounts.

How the $150 and $300 Bonuses Compare

Assuming the required minimum balance is maintained for three months in a new Convenience Checking account to avoid the monthly service fee,

  • $500 Direct Deposit = $150 bonus
  • $500 in a 1.0% Savings Account for three months = $1.25 interest
  • Assuming the required minimum balance is maintained for three months in a new Premier Checking account to avoid the monthly service fee,

  • $2.5k Direct Deposit = $300 bonus
  • $2.5k in a 1.0% Savings Account for three months = $6.23 interest
  • Other Bank Promotions and Bonuses

    Not eligible for TD Bank’s $150 or $300 checking bonus? Check out my latest bank and credit union bonus blog posts to find other promotions. In addition, DepositAccounts.com readers and I also post often on bonuses in the Bank Promotions Forum.

    The above rates are accurate as of 4/6/2017.


    Comments
    Disappointed
    Disappointed   |     |   Comment #1
    Did this promotion last year and bonus was paid on time without issue. Also did their credit card bonus and that was also paid without issue and on time. Having said that I found this financial institution one of the worst I've dealt with.....both in customer service(phone wait times and CSR competency) and overall website processes. There was no local branch nearby. Had nothing but trouble...If I remember correctly they charge for outgoing ACH. They do have "legendary service"....its just terrible. oh yeah.....also had unauthorized ATM card charges....which I finally got reversed.....and I never activated my ATM card.
    outtempster
    outtempster   |     |   Comment #2
    did you have any trouble closing the account after getting the bonus? How much do they charge for ACH outgoing? that reduce the bonus...
    Bob
    Bob   |     |   Comment #3
    Following your question...could one just have the money "pulled" out of the account from another bank acct with no ACH charges ??

    That's how I pulled my money out of Wells Fargo after doing their bonus offer....speaking of a bank with incompetences rampant - Wells Fargo is one of the worst, confused banks I have ever dealt with.
    disappointed
    disappointed   |     |   Comment #4
    I had problems everywhere. I had tried to link my Ally account to TD to pull funds to avoid the ACH fee(also for funding the account)......but could never establish the link successfully. After discussion with TD it turns out TD does not allow external account to link to TD accounts. TD to external is OK but external to TD not allowed. This is so TD can collect the ACH fee. Also had problems with funding the account.....need to send in a check and also with routing numbers, Closing the account is easy....take the account to zero by writing a check and then send an email. Also never received a 1099 even though bonus was paid in 2016. Overall personal experience.....probably the worst I've encountered. I assume all of my problems could have been avoided if their was a branch near by.
    Rye
    Rye   |     |   Comment #5
    What counts as direct deposit to get the bonus? Has anyone tried a push from Ally to TD? Any others work?
    outtempster
    outtempster   |     |   Comment #6
    direct deposit has to be directly from your pay check.
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