TD Bank is offering a number of different account bonuses to new checking and savings account customers who open an account between now and October 31st, 2022.
Find out here how to qualify for a bonus of up to $500 (or at least $150) when you become a new customer with TD Bank. Is this national bank right for you?
How to Earn up to $500
You can earn anywhere from $150 to $500 when you open a qualifying TD Bank checking or savings account as a first-time customer. To get a bonus, you can either open one of two eligible checking accounts, one of two eligible savings, or a new checking account and a new savings account. How much you earn depends on which account or accounts you open.
First, let’s talk about the checking account offers. The two eligible checking accounts are the TD Convenience Checking and the TD Beyond Checking accounts. See the bonuses and requirements below.
- Earn $150 when you open a new TD Convenience Checking account and receive at least $500 in qualifying direct deposit transactions within 60 days of opening.
- Earn $300 when you open a new TD Beyond Checking account and receive at least $2,500 in qualifying direct deposit transactions within 60 days of opening.
Qualifying direct deposit transactions include ACH transactions, paychecks from your employer, or Social Security deposits.
The TD Convenience Checking account is the most popular choice but the TD Beyond Checking account comes with more perks and benefits.
Next, the savings account offers. The two eligible savings accounts are the TD Beyond Savings and TD Simple Savings accounts. See the bonus requirement, which is the same for both accounts, below.
- Earn $200 when you open a new TD Beyond or TD Simple Savings account and deposit at least $20,000 within 20 days of opening. You must then maintain this balance for a total of 90 days after meeting the full deposit minimum of $20,000.
The TD Simple Savings account is the most popular choice but the TD Beyond Savings account comes with more perks and benefits. You cannot earn this bonus twice for opening both accounts.
Use this link when applying to qualify for the bonus. After meeting the requirements, your bonus will be deposited into your account within 140 days of when you opened it.
🔍 To earn the full $500 possible, you need to open a TD Beyond Checking account and either of the two savings accounts. Any combination of accounts and bonuses are permitted.
That said, the fee for either savings account is waived if you link a TD Beyond Checking account, so definitely consider this checking account if you’re planning on opening a savings account.
You cannot qualify if you already have a checking or savings account with TD Bank, have received a new account bonus from TD Bank in the past, or have had an account with TD Bank within the last 12 months (even if it is now closed). You will also not be eligible if you transfer money from any other TD Bank account into the new one. It must be new money.
This promotion expires on October 31st, 2022. If you successfully open a new account by this deadline, you can be eligible for the bonus offers.
TD Convenience and TD Beyond Checking Accounts
There is a $15 monthly maintenance fee for the TD Convenience Checking account that is waived when you maintain an average daily balance of at least $100. The fee is also waived if the primary account owner is between the ages of 17 and 23 years old.
The TD Convenience Checking account does not earn interest. There are no fees for using your debit card at TD Bank ATMs, no fees for transfers made through Zelle, and no fees for using Bill Pay features. This account offers overdraft services (note that there is an added fee for overdraft transfers if you are not younger than 23).
There is a $25 monthly maintenance fee for the TD Beyond Checking account that can be waived in one of three ways:
- Maintaining an average daily balance of at least $2,500
- Having a combined balance of at least $25,000 across all your deposit and mortgage accounts
- Receiving at least $5,000 in qualifying direct deposit transactions per statement period
There is no minimum opening deposit requirement for this account.
This is technically an interest-bearing checking account, but with a current APY of 0.01%, this is far from a competitive account. The national average interest rate for a checking account is 0.03% right now, and you can do a little better than that at other banks and credit unions. On the TD Beyond Checking account, you’ll earn interest as long as you have a positive balance in your account
There is no fee for using non-TD Bank ATMs and any fees you incur at out-of-network ATMs are reimbursed if you have a balance of $2,500 or more. Fees are also reimbursed or waived when you use the Rush Bill Payments feature to send your payments through faster, make up to two overdrafts per year, and make outgoing wire transfers. There is no foreign transaction fee when making purchases internationally or receiving incoming wires.
There is a $15 monthly maintenance fee for the TD Beyond Savings account that can be waived in one of two ways:
- Maintaining an average daily balance of at least $20,000
- Linking this account to a TD Beyond Checking account
This savings account currently earns an interest rate of 0.01% across all balance tiers. Any positive balance will earn interest. The national average interest rate for a savings account is 0.06% right now and this is far below what many banks and credit unions are offering, so this savings account isn’t a great choice if you’re looking for the highest interest rate possible.
You can qualify for a rate bump if you link a qualifying checking account. The following accounts are eligible:
- A personal or small business checking account with at least three customer-initiated deposits, withdrawals, transfers, or payments per month
- A personal or small business checking account with at least one direct deposit transaction per month
- A TD Bank Personal Mortgage, Home Equity, or credit card
Take a look at the adjusted APYs by balance with a relationship account.
TD Beyond Savings Relationship Bump Rates
|$0.01 – 19,999.99||0.01%|
|$20,000 – 49,999.99||0.02%|
|$50,000 – 99,999.99||0.03%|
|$100,000 – 249,999.99||0.04%|
|$250,000 – 499,999.99+||0.05%|
There are no fees when you use your linked card at an in-network TD ATM and you will have fees from out-of-network ATMs reimbursed if your balance is at least $2,500. Other free services include money orders, bank checks, stop payments, and incoming wire transfers.
You can link this account to provide Overdraft Protection to any of your TD Bank checking accounts and have money transferred automatically from your savings to your checking when you overdraw your balance.
There is a $5 monthly maintenance fee for the TD Simple Savings account that can be waived in one of five ways:
- Maintaining an average daily balance of at least $300
- Linking this account to a TD Beyond Checking account
- Linking this account to a TD Convenience Checking account if you are under 24 years old
- Being under 18 years old or above the age of 62
- Making at least $25 in recurring transfers into this account from a linked TD Bank checking account (up to 12 months)
This account currently earns an interest rate of 0.02% on all balances. There is no minimum opening deposit or fee for using in-network ATMs. This account offers free online Bill Pay services
If you’re looking to open a new checking and savings account anyway, it wouldn’t be a bad idea to open with TD Bank to earn up to $500. These are solid checking and savings accounts … We recommend the TD Beyond Checking and TD Simple Savings accounts for maximum earnings potential and benefits.
The fees for TD Bank checking and savings accounts are pretty average and there are many ways to waive them, making these good choices if you’re looking for a free option. We don’t recommend these accounts if your main goal is to earn interest as the rates are not competitive. Also, the savings bonuses in particular require high deposits/balances that you might find restrictive.
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