Trick TD used to steal your $300 when opening chequing account
So I invested $4000 for $300 interest (7.5% return) by creating a TD chequing a few months ago, the so-called "financial service representative" suggested I set up a $50 monthly deposit into a TSFA Savings account, which would fulfill requirement no 2. circled in red from image below. Later I set up a recurring direct deposit for my pay cheque, which would fulfill requirement no 1. I thought I did everything right. Three months later, a few days before deadline, I still didn't get the $300, so I called telephone banking. Turned out the $50 monthly deposit into a TSFA Savings account doesn't count, you actually need something like recurring payment for sth like electricity bill, not simply transferring fund to another account.
So the "financial service representative" either lied or had no idea what he's talking out.
I ended up paying my credit card bill, just 2 days before deadline (fulfilling requirement 3), and managed to get the $300. Had I missed the deadline, they would weasel their way out of paying me.
After that, I pulled all funds, leaving only enough money to waive the fee until I can close the account.
Later I will open and close a chequing account in every bank that has this offer.
So the "financial service representative" either lied or had no idea what he's talking out.
I ended up paying my credit card bill, just 2 days before deadline (fulfilling requirement 3), and managed to get the $300. Had I missed the deadline, they would weasel their way out of paying me.
After that, I pulled all funds, leaving only enough money to waive the fee until I can close the account.
Later I will open and close a chequing account in every bank that has this offer.