TD Canada Trust, which used to attract new customers by offering iPods, is now offering hard, cold cash of up to $250 to customers opening a new bank account. The promotion was initially limited to a few locations but TD Bank has now extended it to all its branches. There are three tiers of cash bonuses on offer:
- $100 for opening any chequing account and signing up for direct deposit plus two pre-authorized debits or signing up for TD Bank’s Simply Save.
- $150 for opening up an Infinity Account or Select Service Account and fulfilling the above conditions.
- $250 for opening up an Infinity or Select Service Account, fulfilling the conditions in (1) and signing up for an approved TD Visa credit card and making ten purchases with it.
It may not make much sense to jump through hoops just to snag the cash offer but if you’ve considered switching to TD Canada Trust for their all-you-can-eat Select Service account, this may be the chance you were waiting for. The Select Service Account comes with unlimited transactions, personal cheques, a small safe deposit box, free US dollar chequing account and annual fees waived for many TD Visa cards. One of these cards, the TD Gold Elite Visa, offers emergency roadside assistance for the card holder and her family. The monthly fee on the Select Service Account is $24.95 which is waived with a monthly balance of $5,000. TD Bank’s offer is tempting because the Select Service Account features that I’m interested in (but don’t currently get for free elsewhere) are worth around $200 per year. Still, I’m inclined to stick to our current banking arrangements as I’m don’t want to constantly watch for the balance dipping below $5,000.