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TD Bank

Open TD Chequing Account and get up to $400

  • Last Updated:
  • Dec 5th, 2023 2:24 pm
Deal Guru
User avatar
Apr 10, 2011
12743 posts
25706 upvotes
Montreal
craigslist123 wrote: Asked me to book an appointment. I hate TD.
Scotia does the same. I think any of the big 6 would do that. They want to make sure you are aware of ALL their products: credit card, mortgage, TFSA, RRSP, mutual funds, etc.
Sr. Member
User avatar
Feb 16, 2014
844 posts
789 upvotes
FredV14986 wrote: I'm in the same boat. See you again next year.
Ugggh! same Neutral Face.
Opened 3 promos that 2020 year: TD, CIBC, ScotiaBank
Deal Guru
Aug 5, 2006
10745 posts
7903 upvotes
Global Village
b33zlebub wrote: Ugggh! same Neutral Face.
Opened 3 promos that 2020 year: TD, CIBC, ScotiaBank
Nice to see I am not the only 1 bingeing on these bank deals. Doing CIBC, BMO, Scotiabank now, TD is next.
All day I dream about sports

Tangerine, Meridian, EQ Bank, Simplii, CIBC Investor's Edge
Deal Addict
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Jan 23, 2004
3970 posts
3749 upvotes
GVRD
My TD online account opening adventure continues...

tl,dr: better to do everything in branch. If you done it online, go to a branch with 2 pieces of photo ID and get the ball rolling.

I went to TD wanting to deposit a $4200 cheque to the new chequing account; I didn't have an access card, only the account number I printed on the confirmation. The lady on the counter checked my ID, and found out the saving and chequing accounts were not activated, no access card were sent because my profile did not have any ID. The lady then asked her FSR co-worker and sat me down. The FSR asked for my ID, then set me up for a new access card and linked my WebBroker to EasyWeb. Now I can see both TDDI and bank accounts in one go. He then deposited my cheque, which would be held for 5 business days. It took 15 min to get me up and running. He said the promotion got a lot of people signing up. He tried to sell me a credit card but I passed politely.

I suspect the reason why I wasn't sent to the branch to begin with is because I signed up using my TDDI login. The system assumed I am already a client so they skipped the ID check part.
Member
Aug 11, 2011
331 posts
368 upvotes
RICHMOND
Is anyone aware of any way to waive the monthly bank fees for these accounts (other than maintaining a monthly balance of x)?

RBC has their Vantage program, NBC waives it with $250k+ in assets, does TD have anything similar?

edit: corrected NBC $ requirement
Last edited by pricegrabber on Feb 3rd, 2023 1:25 am, edited 1 time in total.
Sr. Member
Nov 20, 2017
885 posts
1163 upvotes
pricegrabber wrote: Is anyone aware of any way to waive the monthly bank fees for these accounts (other than maintaining a monthly balance of x)?

RBC has their Vantage program, NBC waives it with 100k+ in assets, does TD have anything similar?
I think NBC is 250K+ assets?
Newbie
Nov 2, 2021
32 posts
35 upvotes
Couple questions if anyone feels like spreading their wisdom.

These bank offers for opening chequing accounts seem to be for accounts that have pretty high monthly fees, at least $17 in this case. They are waived by keeping a $4k balance every single day of the month. Is this an amount people normally keep in their chequing account? I usually have a thousand $ or less as I immediately transfer my pay to a saving account especially since I had the special 4.5% offer from CIBC that expired in January. From there I either transfer it back as needed or send it to my registered saving accounts.

I'm with CIBC now but they charged me just over $10 last month for going over 12 free transactions a month which honestly I find ridiculous, so I'm looking at either moving my chequing account over to Tangerine (can't use Simplii or a few others as they are not available in QC). Is that the best move or is there any others I should look at, especially with all the offers that seem to be coming up now.

much thanks for any insight
Deal Guru
Aug 5, 2006
10745 posts
7903 upvotes
Global Village
mcgwyer wrote: Couple questions if anyone feels like spreading their wisdom.

These bank offers for opening chequing accounts seem to be for accounts that have pretty high monthly fees, at least $17 in this case. They are waived by keeping a $4k balance every single day of the month. Is this an amount people normally keep in their chequing account? I usually have a thousand $ or less as I immediately transfer my pay to a saving account especially since I had the special 4.5% offer from CIBC that expired in January. From there I either transfer it back as needed or send it to my registered saving accounts.

I'm with CIBC now but they charged me just over $10 last month for going over 12 free transactions a month which honestly I find ridiculous, so I'm looking at either moving my chequing account over to Tangerine (can't use Simplii or a few others as they are not available in QC). Is that the best move or is there any others I should look at, especially with all the offers that seem to be coming up now.

much thanks for any insight
These big bank chequing accounts are not for long term day to day banking if you don't plan to keep at least the minimum amount every day imo, the fees really add up. Instead take a look at EQ Bank (now available in QC) or Tangerine.
All day I dream about sports

Tangerine, Meridian, EQ Bank, Simplii, CIBC Investor's Edge
Member
Aug 11, 2011
331 posts
368 upvotes
RICHMOND
mcgwyer wrote: Couple questions if anyone feels like spreading their wisdom.

These bank offers for opening chequing accounts seem to be for accounts that have pretty high monthly fees, at least $17 in this case. They are waived by keeping a $4k balance every single day of the month. Is this an amount people normally keep in their chequing account? I usually have a thousand $ or less as I immediately transfer my pay to a saving account especially since I had the special 4.5% offer from CIBC that expired in January. From there I either transfer it back as needed or send it to my registered saving accounts.

I'm with CIBC now but they charged me just over $10 last month for going over 12 free transactions a month which honestly I find ridiculous, so I'm looking at either moving my chequing account over to Tangerine (can't use Simplii or a few others as they are not available in QC). Is that the best move or is there any others I should look at, especially with all the offers that seem to be coming up now.

much thanks for any insight
There are ways to avoid the fees without keeping a balance for a few of the big banks.

CIBC: Investor's Edge/Savings/GICs - 100k+ (Smart Plug Account)
National Bank: Investments - 250k+
RBC Vantage Program: Completing x tasks per month (ie. having credit card, mortgage, direct deposit, etc.)
Deal Addict
User avatar
Jan 23, 2004
3970 posts
3749 upvotes
GVRD
mcgwyer wrote: Couple questions if anyone feels like spreading their wisdom.

These bank offers for opening chequing accounts seem to be for accounts that have pretty high monthly fees, at least $17 in this case. They are waived by keeping a $4k balance every single day of the month. Is this an amount people normally keep in their chequing account? I usually have a thousand $ or less as I immediately transfer my pay to a saving account especially since I had the special 4.5% offer from CIBC that expired in January. From there I either transfer it back as needed or send it to my registered saving accounts.

I'm with CIBC now but they charged me just over $10 last month for going over 12 free transactions a month which honestly I find ridiculous, so I'm looking at either moving my chequing account over to Tangerine (can't use Simplii or a few others as they are not available in QC). Is that the best move or is there any others I should look at, especially with all the offers that seem to be coming up now.

much thanks for any insight
It depends hugely. In my case, I looked at my lifestyle is and go to the bank that offers the most perks with the least costs that I will use. I always have 3 months of expenses in cash as contingency, and it is perfect for minimum balance.

I have PC Financials (not Simplii/CIBC) for literally 24 years, they are by far the best for those who don't need branch service; next in line is Tangerine.

I think it comes with age, as my assets get diversified, managing multiple banks become headache. I opened my Scotia account to consolidate, because Scotia Ultimate offer quite a lot for free when I keep $5000. I gotta say I was suckered in because of their signup bonus, cashback. I just received $450 from the CC and still waiting for the $300 checking account bonus. I also plan to close my Tangerine but their funds are doing well so I will just leave it for now.
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Feb 8, 2014
32134 posts
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Socially Distanced
someaveragejdoe wrote: Looking at the time machine (Google cache), BMO and Scotia were already doing $400 / $350 Welcome bonus back in 2010-2012.

This $400 in 2023 is sub-par.
My time machine is on the fritz, can i borrow yours?
In fact in Rand McNally they wear hats on their feet and hamburgers eat people
Deal Expert
User avatar
Feb 8, 2014
32134 posts
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Socially Distanced
someaveragejdoe wrote: For 10% interest...yes.
Excellent :twisted:
In fact in Rand McNally they wear hats on their feet and hamburgers eat people
Deal Addict
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Apr 25, 2012
1334 posts
617 upvotes
Isn't the TDDI a mutual fund account? I already got the $300 Amazon gift card from TD. It was relatively easy to set up and the process is very smooth.
-_-
Sr. Member
Nov 20, 2017
885 posts
1163 upvotes
demzie wrote: Isn't the TDDI a mutual fund account? I already got the $300 Amazon gift card from TD. It was relatively easy to set up and the process is very smooth.
No. TDDI is Direct Investing account.
Member
Jun 18, 2009
216 posts
256 upvotes
Edmonton
I've been looking at options for no FX fee credit cards and although I haven't found a through TD the requirements for the sign up bonus are pretty simple and TD credit cards seem to be popular among the points crowd (I'm just learning about this).

Prince of Travel also has a recent recommendation for the TD First Class Visa which includes FYF. I've read in some of the forums about people performing PS for TD cards so the sign up bonus and not having to worry about an annual fee might appeal to some.

Free cheques, credit card fee waived on select TD cards, unlimited transactions, no foreign ATM fees in other countries.

Will continue to update as requested by readers or if I am missing important information.
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Last edited by CarrieRFD on Feb 6th, 2023 8:36 am, edited 3 times in total.
Reason: edited and merged
Jr. Member
Sep 19, 2021
149 posts
277 upvotes
Monthly fee of $29.95 unless you carry a 5k balance makes this a pass for me

here's the full $400 reward breakdown:

First $300 requires 2 of 3:
- direct deposit
- pre-authorized debit
- bill payment from td app or online web

next $50: one of these two:
- set up pre-authorized transfer (?? is this the same as pre-authorized debit/ direct deposit?)
- set up "simply save"

last $50
- add monthly overdraft protection for an additional $5/month

This is ICE COLD
Member
Nov 19, 2020
269 posts
924 upvotes
Genuinely asking as I have the Scotia ultimate which I absolutely hate there CS. I get offers in email and in app but cannot use go into a branch they cannot help me and to call the phone line. Call the phone line and they say to goto a branch. The time they take to process is ridiculous.

What and if there even is a single bank that offers good credit cards and chequing.

Any suggestions. Thanks!
Last edited by Trenderson on Feb 5th, 2023 1:23 pm, edited 1 time in total.
Member
Jun 18, 2009
216 posts
256 upvotes
Edmonton
Okay, sorry. I figured it was easy money as I believe I have read about people looking at this as an opportunity to sign up and earn (up to) $400 for parking $5K that might be sitting idle.

Setting up the direct deposit is a few clicks for me as well as the PAD and bill payment. I understand that some may be in better financial situations or that everybody's time is valued differently.

If I had the ability to move this thread I would. My mistake.
Last edited by Munked on Feb 5th, 2023 1:30 pm, edited 2 times in total.

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