We love a good bank. TD Bank is one of the largest banks in the United States and a top choice among consumers.
TD Bank is one of the more generous banks as far as promotions go as well. The company is constantly coming up with great new offers to attract new customers.
Let’s take a look at some of TD Bank’s top promotional offers for 2024, as well as a complete breakdown of their offerings.
Top TD Bank Promotions for 2024
Here’s a look at some of TD Bank’s best bonus offers.
- TD Beyond Checking: $300 bonus
- TD Complete Checking: $200 bonus
- TD Beyond Savings: $200 bonus
- TD Simple Savings: $200 bonus
- TD Bank Checking: $50 referral bonus
1. TD Beyond Checking: $300 bonus
Expires: January 1, 2025
Earn a $300 bank bonus for opening a TD Bank Beyond Checking account. All you have to do is make $2,500 of direct deposits within 60 days of opening the account.
This is arguably one of TD Bank’s most attractive offers, mainly because of the low qualifying direct deposit threshold you have to meet to get the reward. Most consumers can probably make this bonus after just a month of work, making it a no-brainer for people who link their TD Bank account to their weekly or bi-weekly paycheck from their full-time job.
Beyond Checking is an interest-bearing account that comes with a higher monthly maintenance fee of $25. However, you can waive the fee by making $5,000 in direct deposits per statement cycle or maintaining a $2,500 minimum daily balance. You can also waive the fee by having a combined balance of $25,000 across eligible TD accounts.
2. TD Complete Checking: $200 bonus
Expires: January 1, 2025
Earn a $200 bank bonus for opening a TD Complete Checking account. All you have to do is make $500 of direct deposits within 60 days of opening the account.
This is the “baby brother” offer to the Beyond Checking bonus for those that have a much lower direct deposit.
Complete Checking comes with a lower monthly maintenance fee of $15. However, you can waive the fee by making $500 in direct deposits per statement cycle or maintaining a $500 minimum daily balance. You can also waive the fee by having a combined balance of $5,000 across eligible TD accounts.
3. TD Bank Checking: $50 referral bonus
Expires: Ongoing Promotion
TD Bank is running a checking offer with a referral bonus. If you refer a friend to TD Bank, you both get $50. You can do this up to 10 times each year. Not bad!
To maximize your chance of getting this bank promotion, talk to your friends and family about the bank account they’re using. Point them to TD Bank, and don’t be shy about mentioning that you’ll both get a referral bonus.
4. TD Signature Savings: $200 bonus
Expires: April 30, 2024
TD Bank offers a chance to earn a savings bonus of $200 by opening a TD Personal Savings account. However, you have to deposit at least $10,000 within 20 days to get this reward. The balance must stay at $10,000 for at least 90 days.
Granted, this is a slightly high amount to move into a TD Bank account just for the $200 promotion. Make sure that you don’t leave behind a higher interest rate in your other account when exploring this option.
5. TD Simple Savings: $200 bonus
Expires: April 30, 2024
You can also earn a $200 cash bonus when you deposit $10,000 or more in new funds within 20 days with a Simple Savings plan. Here too, the balance must be maintained for 90 days.
Again, just make sure you’re in a position to move this amount of capital into the account. If you have money sitting around in liquid assets, you should thoroughly explore your options to make sure you’re making the right investment moves.
Are TD Bank’s Promotional Sign-Up Bonuses Worth It?
TD Bank offers solid promotions, but at the end of the day, these are still marketing promotions. Always think twice about leaving your current bank. Opening a new account just for a bonus offer may be more of a hassle than it’s worth. When it comes down to it, you should want to work with the bank because of its merits and the services it offers.
For best results, find a provider that aligns with your needs and think of an account bonus as an added perk. Otherwise, you may wish you’d kept your prior personal checking account.
Here are some questions to ask yourself:
- Why am I unhappy with my current bank?
- Is there another way of generating the same amount in bonus money?
- What are the top reasons for moving my money to a new bank?
- Have I explored all other competing offers?
By doing your due diligence, you’re more likely to find the best account bonus that fits your needs.
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Pros and Cons
Here’s a quick look into some of the pros and cons of banking with TD Bank.
Pros
- Convenience: TD Bank is known for being extremely convenient, with about 1,200 branch locations in places like New York, Florida, Connecticut, Boston, the District of Columbia, and Atlanta. The company also has a strong network of TD ATMs and a robust online bank platform. As long as you’re on the East Coast, you should have no problem finding a TD Bank branch.
- Saving and retirement investing: Another nice part of working with TD Bank is that you can access both deposit and investing services. By having your IRA accessible via the same platform as your online checking and savings accounts, you could have an easier time managing your money and transferring funds into your IRA. TD Bank offers a variety of investing and management services for investors of all types, from beginners to more experienced individuals.
- Great mobile experience: TD Bank offers a robust and secure mobile experience for on-the-go account management. You can access their mobile app through any Android or iOS device to check your account balance, access customer support, make transfers, apply for loans, and invest in your IRA, to name just a few options. Not all banks have a high-quality mobile app. If you’re the type of person who enjoys on-the-go banking, you really can’t go wrong with TD Bank.
- Around the clock customer service: TD Bank is also known for having 24/7 customer care, providing speedy access to expert customer representatives. This is very helpful for customers who travel frequently to places where TD Bank doesn’t have any branch locations.
Cons
- Limited retail locations: Some customers don’t like the fact that TD Bank is only on the East Coast. If you don’t live on the East Coast, you can still access TD Bank and open an account. You just won’t have access to branch locations.
- High monthly fees: Many of TD Bank’s accounts come with relatively high monthly fees. Granted, the company does offer ways to bypass these fees. That said, you do need to know about them, or you could get slammed with monthly rates of $25 or more.
- Low interest rates: TD Bank typically gets stellar customer reviews in everything except interest rates. They’re not terrible compared to some competitors. But they’re nothing to get excited about.
Frequently Asked Questions
Does TD Bank offer brokerage services?
Technically, TD Ameritrade is a separate company and a division of Charles Schwab. If you’re looking for a top brokerage service, you aren’t going to find it with TD Bank. You’ll need to open a separate brokerage account. But that’s pretty standard for traditional banks like TD.
Does TD Bank offer overdraft protection?
TD Bank gives you a variety of choices for overdraft protection when you open a new checking account. An overdraft happens when you don’t have enough money in your available balance to cover a transaction (e.g., you buy something for $50 but only have $30 in your account).
If you overdraw your account by less than $5, the bank won’t charge an overdraft fee. Beyond that, TD offers a Standard Overdraft Protection service, the Debit Card Advance protection, and a Savings Overdraft Protection plan.
Does TD Bank have service fees?
You need to be careful about monthly maintenance fees with TD Bank. The bank offers ways to avoid these charges. But many accounts come with substantial fees, especially compounded over time. As a best practice, always read the fine print before setting up an account so you’re aware of all the service fees.
Is TD Bank FDIC-insured?
TD Bank is an FDIC-insured institution, meaning your account will be protected up to $250,000. So, in the unlikely event that something happens to the bank or your account, any amount of money up to $250,000 will be protected.
Does TD Bank have high ATM fees?
TD Bank doesn’t charge customers to access their ATMs. The company also has a reimbursement policy for non-TD ATM fees, giving you flexible access to cash when you’re traveling.
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