[Expired] TD Bank: Automated Investing Up To $750

Extended to October 31, 2024

Extended again to 8/31

Update 5/14/24: Extended until July 31, 2024

The Offer

Direct link to offer

• TD Bank is offering a bonus of up to $750 you open and fund a new TD Automated Investing account now through April 30, 2024. Balance must be maintained for 90 calendar days. Bonus tiers are as follows:
  • Deposit $1,000 – $4,999 and get $50 bonus
  • Deposit $5,000 – $24,999 and get $150 bonus
  • Deposit $25,000 – $49,999 and get $250 bonus
  • Deposit  $50,000 – $74,999 and get $450 bonus
  • Deposit $75,000 – $99,999 and get $750 bonus

The Fine Print

• Offer is valid only for individual clients who open and fund a new TDAI cash account, Traditional IRA account or Roth IRA account (“TDAI Account”) with cash starting at a minimum of $1,000 or more in accordance with the eligibility requirements and restrictions below. The offer will apply to only one new TDAI Account. If you are opening more than one TDAI Account, the offer will apply to the eligible TDAI Account with the largest contribution.   
• The offer expires on April 30, 2024
• The offer is available exclusively for a new TDAI Account.   No other TD Bank, N.A. (TD Bank) depository account, investment management account or TDPCW advisory or brokerage account, including the TDAI Plus advisory offering, is eligible for this offer.
• You must be 18 years or older and you must be a citizen of the United States or Green Card holder with a permanent address in the United States who presents a valid Form W-9 to participate in this offer. You are responsible for any eligible taxes. 
• This offer is only available if you complete the TDAI application and fund a TDAI account on the TDAI website or mobile app and you are approved as a TDAI client.
• You may fund the new TDAI Account with cash in a TD Bank retail depository account or with cash from another US bank or other US financial institution. You cannot fund your account with securities. You may not transfer assets from an existing investment management account at TD Bank or advisory or brokerage account TDPCW to fund this TDAI Account. 
• The offer is only valid for TDAI Accounts that meet TDPCW’s TDAI account opening requirements and are deemed “approved”.
• The TDAI Account must be funded with at least $1,000 to meet the TDAI qualifying account minimum within 30 calendar days of the TDAI Account approval. 
• The TDAI Account minimum balance of $1,000 must be maintained for 90 calendar days from the TDAI Account approval date (“Qualifying Period”).   
• The minimum balance (“Net Deposit Amount”) is based on the total external deposits or transfers into the TDAI Account (including cash and eligible securities) minus assets withdrawn or transferred out of the TDAI Account within the Qualifying Period, irrespective of any losses or gains due to trading or market fluctuations.   
• You can only participate in one TDAI Account offer during any 12-month calendar period.
• The offer does not apply to jointly held accounts available through TDAI. 
• For TDAI Traditional IRA accounts and Roth IRA accounts: 
• A new TDAI Traditional IRA Account or Roth IRA account may not be funded by an ERISA Plan to IRA rollover. 
• The cash bonus award will be deposited into the new TDAI Traditional IRA account or new TDAI Roth IRA account and will be treated as earnings on that account.  As you take distributions from your TDAI IRA account, the distribution amounts will be reported to you on Form 1099-R. TDPCW and TDAI and its financial services professionals do not provide tax advice. 
• The value of the cash offer may be considered income, and we may be required to send you, and file with the IRS, a Form 1099-MISC (“Miscellaneous Information”). You are responsible for any tax liability associated with the cash offer. Please consult your own tax advisor if you have any questions about your personal tax situation.

Our Verdict

Hold period only being 90 days is attractive for a bonus like this. There is a 0.3% annual management fee split into 4 quarterly payments but still a profitable deal. Terms make it look like you can just keep the funds in cash or ETFs, but not sure what ETFs are available. Personally I don’t find these sorts of things worth it as I like to set and forget my long term investments.

Hat tip to reader Jon