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[TD Bank] TD Chequing Account - $300 Chequing offer

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  • Nov 25th, 2020 9:55 am
Newbie
Apr 26, 2019
46 posts
6 upvotes
Just wondering, but if I were to switch/transfer from CIBC to TD, would my Recurring Direct Deposit (from the Government (Ontario Works, GST & Ontario Trillium Benefit)) be transferred with the account, or would I need to get a Direct Deposit Form & set them up again to make sure I don't miss/lose any payments?
Jr. Member
Dec 1, 2018
150 posts
162 upvotes
Hey, quick question, I linked my tangerine account to my td account. Is a pad basically the option "move my money" on tangerine from the td account? I am new to this.
Thanks
Deal Addict
User avatar
Oct 26, 2005
1127 posts
55 upvotes
Toronto
DP:
Opened Account Sept 3.
Made $75 payment to TD AP VI on Sept 4th
Had $50 Rogers Cable PAD taken out Sept 21st
Received $300 bonus Oct 9th. Also received e-mail on October 10th confirming I had met the requirements and it may take up to 12 weeks for them to pay out, but I got it on the same day.

Thanks OP!
R.I.P. Prodigy
Deal Fanatic
Jul 22, 2007
6337 posts
5715 upvotes
Calgary
Opened my account August, met their criteria and was told I didn’t qualify after I called in to check. They said I didn’t qualify as I had the offer 2 years ago. I was emailed repeatedly to sign up for this offer so I phoned in in late July and I asked the rep if I would qualify. I said I couldn’t recall exactly when I last received a promotion. She said she couldn’t see an old account so I would qualify. Their policy is to listen to these phone calls and if the rep states you qualify, they will offer it. They did this and gave me the promotion last week.
Deal Expert
User avatar
Feb 8, 2014
17367 posts
6198 upvotes
Got my $300!
Do i need to keep the account open for a specific timeframe?
In fact in Rand McNally they wear hats on their feet and hamburders eat people
Deal Addict
User avatar
Apr 2, 2010
2037 posts
1506 upvotes
GTA
Did anyone read the official T&Cs to see if there is an official closing fee if its done too soon? Normally bank accounts have a fee if closed within 90 days.
The thread seems to indicate otherwise but I want to make sure I dont give them an opportunity to ding me. :)

If not I might just eventually get around to reading into this and I will share back, just asking if someone already has done this.
Deal Fanatic
User avatar
Nov 23, 2005
8508 posts
4337 upvotes
LordLetto wrote: Just wondering, but if I were to switch/transfer from CIBC to TD, would my Recurring Direct Deposit (from the Government (Ontario Works, GST & Ontario Trillium Benefit)) be transferred with the account, or would I need to get a Direct Deposit Form & set them up again to make sure I don't miss/lose any payments?
Not automatically, but TD has an option to auto enrol you.
Deal Addict
Apr 23, 2008
1120 posts
209 upvotes
martydxb wrote: Did anyone read the official T&Cs to see if there is an official closing fee if its done too soon? Normally bank accounts have a fee if closed within 90 days.
The thread seems to indicate otherwise but I want to make sure I dont give them an opportunity to ding me. :)

If not I might just eventually get around to reading into this and I will share back, just asking if someone already has done this.
Just closed it in branch (opened Aug, don't remember date),no extra charge, transfer everything to saving then get it out from there. One advantage to close in branch is if there is any charge, I can act accordingly)
Deal Addict
User avatar
Apr 2, 2010
2037 posts
1506 upvotes
GTA
phht wrote: Just closed it in branch (opened Aug, don't remember date),no extra charge, transfer everything to saving then get it out from there. One advantage to close in branch is if there is any charge, I can act accordingly)
Thanks, as for me I am trying this out after confirming with chat:
  • Move $3k out by interac transfer
  • Then move the remaining $1.xk out after the next 24 hours to zero the account balance
  • Then over chat ask them to close the account, they are able to do this but the balance has to be zero.

As long as these three steps are done before the end of the month, it should not trigger the monthly fee, verified with the CSR over chat. If step 3 is not completed before end of the last business day of the month, then the fee will kick in.

Although unlikely, I would recommend anyone trying to give it a week before the end of the month in case there are some unexpected problems in closing.
Deal Addict
Apr 23, 2008
1120 posts
209 upvotes
martydxb wrote: Thanks, as for me I am trying this out after confirming with chat:
  • Move $3k out by interac transfer
  • Then move the remaining $1.xk out after the next 24 hours to zero the account balance
  • Then over chat ask them to close the account, they are able to do this but the balance has to be zero.

As long as these three steps are done before the end of the month, it should not trigger the monthly fee, verified with the CSR over chat. If step 3 is not completed before end of the last business day of the month, then the fee will kick in.

Although unlikely, I would recommend anyone trying to give it a week before the end of the month in case there are some unexpected problems in closing.
I dont quite follow, the 1K ish was moved out after 24h ie there was 1 day the balance was below 4k. I made mistake and was dinged with fee for just 1 day where the balance was below 4k.
Deal Addict
User avatar
Apr 2, 2010
2037 posts
1506 upvotes
GTA
phht wrote: I dont quite follow, the 1K ish was moved out after 24h ie there was 1 day the balance was below 4k. I made mistake and was dinged with fee for just 1 day where the balance was below 4k.
I have the account where I keep $4000 balance to waive the monthly fee.

The interac limit is set to $3000/24 hour period. So I interac transfered the first $3k, then $1k the next day. Immediately after I zeroed out the account, I contacted them (call or chat would work) and they were able to close the account immediately without a need to go to branch.

I did this and it worked out so far, the csrs confirmed again that since I closed the account before the month ended, there will not be a fee since I closed it out.

Hope that helps.
Sr. Member
Nov 28, 2005
616 posts
393 upvotes
Toronto
Sep 16 - Opened TD Unlimited Chequing Account online
Sep 16 - Transferred in a portion of $4K minimum because of Interac e-Transfer limit
Sep 17 - Transferred in the balance of $4K minimum to waive monthly account fee
Sep 25 - Recurring Direct Deposit failed because TD Direct Deposit Information form that was generated at account opening actually had wrong information. Received a wire transfer instead upon which TD deducted a fee
Sep 30 - TD Monthly account fee was charged because $4K minimum was not maintained between Sep 16 and 17
Oct 1 - Had TD reverse the 2 service charges above. (Was concerned that I would not receive the $300 promotion because a refund of the monthly account fee is a disqualification)
Oct 1, 7, 20 - Online Bill Payment >$75 minimum through app
Oct 9, 23 - Recurring Direct Deposit without problem after TD Direct Deposit Information form was generated again and showed correct information this time
Oct 26 - Received $300 TD Welcome MSP
Member
Jul 23, 2011
376 posts
211 upvotes
Winnipeg, MB
Got my $300, know to close my account. Can I do that over chat?
Deal Fanatic
User avatar
Nov 23, 2005
8508 posts
4337 upvotes
Kaida9 wrote: Got my $300, know to close my account. Can I do that over chat?
As long as your balance is zero, or very close to, yes.
Jr. Member
Dec 2, 2012
187 posts
270 upvotes
Mississauga, ON
boyoflondon wrote: As long as your balance is zero, or very close to, yes.
I think TD allows e-transfers for less than $10, if you want to clear the balance.

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