TD Canada Trust (TSX: TD) is hoping to attract retail banking customers by offering free iPods. Customers could qualify for one of three offers: a 1GB iPod shuffle (retail value: $89.99), a 2GB iPod Nano (retail value: $164.99) or a 30GB iPod (retail value: $299.95).
The 30GB iPod offer isn’t all that attractive when you consider that you are required to get a Visa card with an annual fee of at least $99. I don’t have a TD Chequing account and it is tempting to take up TD on its offer of an iPod Nano, which you can get by:
- Opening a chequing account. Monthly fees of $3.95 are waived for a Value Account, if a balance of $1,000 is maintained.
- Transferring your checking account using TD’s EasySwitch and setting up two pre-authorized debit payments.
- Deposit $5,000 into a GIC account. The money is required to remain in the account for 90 days.
For an “investment” of $1,000 and receiving a slightly reduced interest on a $5,000 investment, you can get an iPod Nano worth $190. Like I said, very tempting!