TD Bank Promotions

New TD Bank checking customers can earn up to $300

By
Kat Tretina
Kat Tretina
Full Bio
Kat Tretina is is an expert on student loans who started her career paying off her $35,000 student loans years ahead of schedule. Her work has been published by Experian, Credit Karma, Student Loan Hero, and more.
Learn about our editorial policies
Updated October 31, 2023
Reviewed by
Michael J Boyle
Michael Boyle
Reviewed by Michael J Boyle
Full Bio
Michael Boyle is an experienced financial professional with more than 10 years working with financial planning, derivatives, equities, fixed income, project management, and analytics.
Learn about our Financial Review Board

We independently evaluate all recommended products and services. If you click on links we provide, we may receive compensation. Learn more.

Free money may seem like a rarity, but taking advantage of bank account promotions can be a smart way to get extra cash. 

TD Bank is the sixth largest bank in North America, and it’s currently offering substantial bonuses to encourage new customers to open select checking and savings accounts. With just a bit of work (and some direct deposits), you could get up to $500 in bonuses.

In the News

The Federal Reserve raised interest rates numerous times throughout 2022 and 2023 to cool high inflation. It's unknown if the Fed will continue to raise rates in 2023 or 2024, but it's smart to take advantage of them while you can. After looking for good bank account promotions, check out the institution's high-yield savings accounts and CD rates. These are directly impacted by the Fed's rate hikes. Depositing money into multiple accounts at the bank may help you maximize the amount of money you can earn on the cash you keep there.

TD Bank : Beyond Checking – $300

TD Bank

TD Bank
  • Bonus Amount: $300
  • Promotion Expiry: November 30, 2023
  • Qualifications: Direct deposit
How To Get the Bonus 
  1. Open a new account. Open a new Beyond Checking account online.
  2. Set up and receive direct deposits. Receive at least $2,500 in direct deposits within 60 days. 
  3. Wait for the bonus. The bonus is deposited into your account within 180 days of account opening.
Bonus Restrictions and Account Fees

To get the $300 bonus, you must be a new customer. Those with existing accounts or those who have had accounts in the past 12 months aren’t eligible. 

Each direct deposit must be for $250 or more, and must be an electronic deposit of your paycheck, government benefits, or pension payments. 

The following fees apply: 

  • Monthly maintenance fee: $25 (waived under any of the following circumstances: You set up direct deposits of $5,000 or more; you maintain a daily balance of $2,500 or more; you have a combined balance of $25,000 or more in TD Bank accounts)
  • Overdraft fee: $35 for each item TD Bank pays
  • ATM fee: $0

TD Bank : Convenience Checking – $200

TD Bank

TD Bank
  • Bonus Amount: $200
  • Promotion Expiry: November 30, 2023
  • Qualifications: Direct deposit
How To Get the Bonus 
  1. Open a new account. Open a new Convenience Checking account online.
  2. Set up and receive direct deposits. Receive at least $500 in direct deposits within 60 days of account opening.
  3. Wait for the bonus. The bonus is deposited into your account within 180 days of account opening. 
Bonus Restrictions and Account Fees

The $200 Convenience Checking account bonus is only for new customers. If you are an existing TD Bank customer, have had an account with TD Bank within the past 12 months, or received a TD Bank checking account bonus at any time, you aren’t eligible for this promotion. 

Eligible direct deposits need to be electronic deposits of your paycheck, government benefits, or pension payments, and each must be $250 or more. 

The following fees apply: 

  • Monthly maintenance fee: $15 (waived for students and young adults between the ages of 17 and 23, or by maintaining a $100 minimum balance)
  • Overdraft fee: $35 for each item TD Bank pays
  • ATM fee: $0 at TD ATMs in the U.S. and Canada; $3 at non-TD ATMs

While you can open some TD Bank accounts online, you can also visit a branch in person to open or add someone to an account. However, TD Bank doesn’t operate brick-and-mortar branches in every state; they’re only available in 15 states and the District of Columbia. You can use the store locator tool to see if TD Bank has a location near you. 

Compare TD Bank Promotions

Promotion Bonus Amount Promotion Expiry  Qualifications 
TD Beyond Checking $300 November 30, 2023 Direct deposit
TD Convenience Checking  $200  November 30, 2023 Direct deposit 

Pros & Cons of TD Bank Promotions

Pros

  • Multiple bonus options

  • Monthly fees can be waived

  • Relationship bump rates apply

Cons

  • High deposit requirements

  • Existing customers not eligible

  • Lengthy time to receive bonus

Pros Explained

  • Multiple bonus options: Whereas some banks only offer bonuses on one type of account, TD Bank may have promotional offers on both checking and savings accounts. Depending on the offer, you could qualify for hundreds in bonuses. 
  • Monthly fees can be waived: TD Bank charges monthly fees on its checking and savings accounts, but there are several ways to qualify for fee waivers. For example, the Beyond Checking account’s fee is waived if you maintain a balance of $2,500 or more. 
  • Relationship bump rates apply: If you link a TD Signature Savings account to another TD account, you can qualify for a relationship bump rate and get a higher APY on your savings. 

Cons Explained

  • High deposit requirements: With some banks, you can qualify for a bonus by depositing as little as $500. But TD Bank promotions sometimes have much higher requirements; some bonuses have required $10,000 or more in deposits. 
  • Existing customers not eligible: If you already have a TD Bank account, have had one in the past 12 months, or have received a TD Bank bonus previously, you aren't eligible for its special offers. 
  • Lengthy time to receive bonus: After meeting TD Bank's promotion requirements, you have to wait a long time to receive the bonus cash. TD Bank pays out bonuses about 180 days after account opening. 

Alternatives to TD Bank Promotions

TD Bank isn't available in every state, and it has high deposit requirements. If you're looking for other ways to earn bonuses and a higher APY, consider these alternatives.

Ally Bank Promotions

Ally Bank is an online bank. Because it doesn't have physical branches, it has lower overhead costs and can pass on its savings to customers in the form of higher APYs. With its promotional offers on certificates of deposit (CDs), you can earn a much higher APY without having to pay monthly fees. 

Citizens Bank Promotions

If you aren't eligible for one of TD Bank’s promotions or don't have enough cash to meet the bonus requirements, Citizens Bank is another option to consider. Citizens Bank often has several special offers for new customers, and it usually has lower deposit requirements than other banks. 

Certificates of Deposit (CDs)

CDs can be a smart way to grow your money. When you open a CD, you deposit cash and earn a fixed rate of interest for the length of the CD's term. Because the money is locked into the account for the term, you can earn a much higher APY than you'd get with a savings account or checking account. See the best CD rates here to explore your options.

Before opening a CD, be sure you won't need the money you deposit until the CD matures. Otherwise, you may need to pay hefty early withdrawal penalties to take out your funds.

High-Interest Checking Accounts

You don't necessarily need a savings account to earn a higher APY. With a high-interest checking account, you can combine a higher-than-average APY with check-writing privileges and get a debit card to pay your bills. The rates aren’t as high as the top savings accounts, however; see the best high-yield savings accounts here.

Use Investor.gov's compound interest calculator to find out how a higher APY can help your money grow over time.

Savings Bonds

For those looking for safe, low-risk ways to grow their money, savings bonds provide a guaranteed rate of interest with terms as long as 30 years. Take a look at the best savings bonds to learn more and see if one is right for you.

Frequently Asked Questions

  • Who Is Eligible for TD Bank Promotions?

    TD Bank’s checking and savings account promotions are solely for new customers. If you are an existing customer, have had a checking or savings account with TD Bank in the past 12 months, or received a bonus from TD Bank in the past, you cannot take advantage of these offers. 

  • Does TD Bank Have Any Promotions for Existing Customers?

    Although existing TD Bank customers aren’t eligible for the checking or savings account promotions, current customers can earn up to $500 by referring friends or family members. For each person you refer who opens an account, you can get up to $50, up to a maximum of $500. 

  • How Do TD Bank Promotions Compare to Other Bank Promotions?

    TD Bank is far from the only bank that will pay you cash to open a new account. There are several with promotions, and some offer higher bonus amounts with lower deposit or direct deposit requirements. 

    For example, Associated Bank will give you between $200 and $400 if you set up at least $500 in direct deposits during the first 90 days of your account opening and maintain a certain average daily balance. To find other offers, check out our picks for the best bank bonuses of 2023. 

  • How Do You Find TD Bank Promotions?

    TD Bank regularly updates its promotions on the special offers page of its website. You may also receive emails or mailers with additional offers. 

  • How Long Does It Take To Get a TD Bank Bonus?

    After completing TD Bank's promotional offer requirements, TD Bank will deposit the bonus amount into your new account on or before 180 days of account opening.

TD Bank is well-known for its customer service; in J.D. Power’s 2022 U.S. National Banking Satisfaction Study, TD Bank was ranked third in terms of overall customer satisfaction, beating out six other banks. 

managing online banking with mobile app on smartphone TD bank promotions

d3sign / Getty Images
Article Sources
Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in our editorial policy.

  1. TD Bank. "2022 Annual Report." 

  2. Federal Reserve System. "Open Market Operations.”

  3. TD Bank. "TD Beyond Checking Account Guide," Page 1.

  4. TD Bank. "TD Convenience Checking Account Guide," Page 1.

  5. TD Bank. "Earn $200 With a New TD Personal Savings Account." 

  6. Citizens Bank. "Get Up to $400." 

  7. TD Bank. "Refer a Friend to TD Bank."

  8. Associated Bank. "Brewers Checking Offer."

  9. TD Bank. "New TD Checking Customers Can Earn Up to $300." 

  10. J.D. Power. "Largest National Banks See Declining Satisfaction Among Younger Customers, J.D. Power Finds."