This offer has expired, view the best current checking bonuses by clicking here.
Update 11/2/2018: Introductory APR on the money market account has been increased to 2.15% APY (previously 1.8%). This is only slightly lower than the current best high yield savings account, making the money market bonus more attractive. Update: Despite the targeted language, customer service reps are saying it’s not actually targeted at all. To further back this up readers have reported seeing advertisements for this particular bonus on Instagram. In addition TIAA Bank acquired Ever Bank in June 2017 and if you were an Ever Bank Yield Pledge customer then you’re considered an existing user and are NOT eligible. Fine print says: Offers are only available to current TIAA customers. Marking this as targeted for now. Offer at a glance
- Maximum bonus amount: $350
- Availability: Nationwide
- Direct deposit required: Yes, $1,000+
- Additional requirements:
- Hard/soft pull: Soft pull
- ChexSystems: Unknown
- Credit card funding: None
- Monthly fees: None
- Early account termination fee: 120 days, bonus forfeit
- Household limit: None listed
- Expiration date: November 30th, 2018
Contents
The Offer
- TIAA Bank is offering a bonus of up to $350. There are two bonuses a $150 checking bonus and $200 money market bonus
Yield Pledge Checking Bonus $150
- Receive a bonus of $150 when you open a new yield pledge checking account and complete the following requirements:
- Use promo code 14647
- Make direct deposits totaling at least $1,000 within 90 days after account opening
Yield Pledge Money Market $200 Bonus
- Receive a bonus of $200 when you open a new yield pledge checking account and complete the following requirements:
- Use promo code 14647
- Deposit $20,000 and maintain that balance for at least 90 days after account opening
The Fine Print
Checking:
- This offer is only available to customers opening their first TIAA Bank Yield Pledge Checking Account by 11/30/2018, applied for online or by calling the phone number above and using the referenced promotion code. Only one (1) checking account offer is available per customer. This offer is not available to previous or existing TIAA Bank checking account customers.
- In order to receive the $150 bonus credit from TIAA Bank, you must (1) use the promotion code referenced above to open and fund a new Yield Pledge Checking Account with at least the minimum required opening deposit amount ($5000), transferred from another financial institution and then (2) initiate one or more qualifying direct deposits totaling at least $1,000 that are credited to your new Yield Pledge Checking Account (after the initial required opening deposit) within the first 90 days of the account being opened. Qualifying direct deposits include payroll, pension, Social Security, or other regular monthly income electronically deposited into your account by your employer or a government agency. External transfers, internal transfers and checks deposited through the mail, online, and/or by mobile device do not constitute qualifying direct deposits for this offer.
- If the qualifications described above are met, the $150 bonus credit will be directly deposited into your Yield Pledge Checking Account within 120 days of the account opening date, provided that your account remains open and is in good standing. If your account is not open or in good standing on the date the reward is paid, you will not receive the bonus credit.
Money market:
- This offer is only available to customers opening their first TIAA Bank Yield Pledge Money Market Account by 11/30/2018, applied for online or by calling the phone number above and using the referenced promotion code. Only one (1) money market account offer is available per customer. This offer is not available to previous or existing Yield Pledge Money Market Account customers.
- In order to receive the $200 bonus credit from TIAA Bank, you must (1) use the promotion code referenced above to open and fund a new Yield Pledge Money Market Account with a minimum opening deposit of $20,000 and (2) maintain at least that $20,000 minimum balance in the account every day for the 90 days after account opening, including through the 90th day after account opening. Your money market account must be funded with that $20,000 minimum opening deposit within 20 days of the account being opened or you will not be eligible for this offer. Funds transferred from an existing TIAA Bank account do not count toward the qualifying minimum opening deposit required for this offer.
- If the qualifications described above are met, the $200 bonus credit will be directly deposited into your Yield Pledge Money Market Account within 120 days of the account opening date, provided that the account remains open and is in good standing. If your account is not open or in good standing on the date the reward is paid, you will not receive the bonus credit.
- Bonuses are considered interest and may be reported on IRS Form 1099-INT.
Avoiding Fees
Monthly Fees
Both accounts have no monthly fee to worry about
Early Account Termination Fee
Accounts need to be kept open for 120 days otherwise you will forfeit the bonus
Our Verdict
Checking bonus seems worth doing, not the biggest offer ever but nationwide bonuses are relatively uncommon. The high yield account offers 2.15% APY, that’s competitive with the best high yield savings accounts currently available and when you pair it with the $200 bonus it is worth doing if you have the liquid funds available (although I suspect people will have some of that tied up with Ally). I’ll be adding both of these bonuses to our best checking & savings account bonuses page. Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
- PSA: Don’t Call The Bank
- Introduction To ChexSystems
- Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
- What Banks & Credit Unions Do/Don’t Pull ChexSystems?
- How To Use Our Direct Deposit Page For Bank Bonuses Page
- Common Bank Bonus Misconceptions + Why You Should Give Them A Go
- How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
- Affiliate Links & Bank Bonuses – We Won’t Be Using Them
- Complete List Of Ways To Close Bank Accounts At Each Bank
- Banks That Allow/Don’t Allow Out Of State Checking Applications
- Bank Bonus Posting Times
This bonus is available again and they have bumped up their yield pledge money market bonus to $300 when depositing $10,000. No expiration date.
Looks like the new offer is only for SUNY employees.
just learned that discover $1k+ ACH did not code as DD for me for $150 checking bonus
ineligible for bonus.
5k min opening deposit – it does not specify this on the app – but to be eligible must dep 5k.
discover bank personal 1k ACH was not eligible either!
bummer – denied.
Did not receive checking account bonus. Opened account in October. Tried Chase and CIBC as my “DD”. Will be closing account now.
was denied bonus after a phone rep said I qualified and should get it by a certain date. i SM’d after the date and was told my DD’s didn’t qualify. I tried Capital 1, Paypal business account, and a local credit union.
Called to close the account over a month ago after zeroing out the balance. Person said closure was processed. Imagine my surprise to login today and notice it is still open and $.03 in interest posted. Oy! Tried the electronic system this time, will SM if that doesn’t work.
It’s been 120 days..can the account be closed via sm? Just wondering if anyone has tried yet?
Up near the top there are tabs. Click on Service > Account Maintenance > Close an Account
However, when you look at the form it requires a Security code. I don’t have one. Has anyone closed their account and did you use a SM? Chris Chris did you close your account yet? I think I’ll wait until 4/29 to close because that’s when my interest is supposed to post. I had no luck with fake DDs for TIAA’s Money Market.
@chris arizonapv Ran into the same problem with no security code. I looked thru my paperwork and don’t recall anything about this. I figured I would need to call to set one up, or jump thru hoops to reset it, so said screw that and just did SM. They do take SM for closing, process the closing over a couple day stretch, and they mail you the check for any interest earned. If you read my thread, you would have saw I got cashiers checks for 2 cents, and my SO got 10 cents. So, no point in waiting, because unless the interest is less than half a penny, you’re getting a check in the mail.
Edit: Just remembered I posted my closing experience on the “methods to close an account at each bank” page.
I’m glad I didn’t miss your post. I did a search of the posts for the word “clos” (to hit close and closing) and couldn’t find anything except for Chris’ post. I left $75 in both accounts. I was thinking of drawing it down to $0 first, but based on your experience it doesn’t really matter. Getting a Two cents and Ten cents check in the mail would be really weird. Thanks for your data point.
No luck with fake DDs for TIAA.
11/30 $5K Discover
12/13 $1K Discover
12/17 $1K Chase
1/23 $1K Capital One 360
Bonus did NOT post after 120 days from account opening.
Thanks added DP
Received the checking bonus no problem. 120 days have passed since signup for MM with no bonus. I now realize that I actually deposited 20K into checking then internally transferred 20K to savings. Does that invalidate bonus? Any chance of calling to ask them to reclassify the 20K? Was only in checking for a day or two…. ugh
idiot? Ouch. “Funds transferred from an existing TIAA Bank account do not count toward the qualifying minimum opening deposit required for this offer.”
Do you ever call?
I would still call and ask, as I assume you only had the 20K in checking for a couple days or less. If that’s the case, to me, you met the spirit of the offer, you just screwed up procedurally. I would count that as new money… but I am not a banker at TIAA. Maybe lead with when moving large amounts of money through accounts, you normally would always do that thru checking, and that’s how you conducted business? If you don’t get the answer you want to hear, HUCA. Worst case you could file a CFPB complaint, but not sure they would help. Good luck!
follow up — called and they fixed right away, got the bonus a day later. Thanks!
Awesome! 👍
I got a mail and said deposit into checking account and maintain until 8/30, then can get below bonus. It’s about 0.6-0.7% APY, given checking 1.27% APY. Totally 1.97%. Not worth to do.
BALANCE INCREASE
(deposit and maintain) CASH BONUS
$10,000 $25
$25,000 $50
$50,000 $100
$75,000 $175
$200,000 $500
There’s a post for this bonus over here: https://www.doctorofcredit.com/targeted-tiaa-direct-up-to-500-savings-bonus-nationwide