Switch to TD/CT, get $150 (was $250) bonus

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Bylo Selhi
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Switch to TD/CT, get $150 (was $250) bonus

Post by Bylo Selhi »

It used to be a free iPod but now it's $250 cash. I wonder if they'll let me trade in my iPod from their promotion of several years ago for $250 :twisted:

Get up to $250
Open a new Infinity or Select Service chequing account with convenient banking services and be approved for one of our premium credit cards and you could get a cash bonus of up to $250.
This really only makes sense if you keep a minimum of $3,500 (Infinity) or $5,000 (Select) in order to avoid the $15 to $30 (ugh!) per month account fees. See here for an analysis.
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Re: Switch to TD/CT, get $250 bonus

Post by flywaysuzy »

What a good deal Bylo! Got the bank account, the safety deposit box and roadside assistance, as well as the visa and the free checks (even duplicates!). Will wait until January for the $250. Better than the savings accounts I had the money parked in! I'm still missing my starbucks visa so this will help me move on... :)
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Re: Switch to TD/CT, get $250 bonus

Post by Bylo Selhi »

The deals are no longer as good, but $150 is still better than $0: TD new account welcome bonus $150 cash. This only makes sense if you keep the $5,000 minimum balance for Select Service and use at least a few of the freebies that are included. (With HISAs paying as little as 1% these days, the annual cost of parking $5k in the account is as little as $50 to $75, tax-free.)

P.S. I can no longer edit the first post and with it the thread title. Could a Moderator kindly change the title to read, "Switch to TD/CT, get $150 (was $250) bonus." Merci.

Done - ModW
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Re: Switch to TD/CT, get $150 (was $250) bonus

Post by gouthro »

ibelieve this must be finished now, Bylow. Unfortunatly, I clicked on the link and nothing shows. Too slow.
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Re: Switch to TD/CT, get $150 (was $250) bonus

Post by adrian2 »

A new deal from TDIS mutual funds:
TD wrote:Get up to $100 bonus when you sign-up for a Pre-Authorized Purchase Plan by November 1st, 2013. Minimum monthly automated investment to qualify for a bonus is $50 and you can increase it at any time.

$50 monthly PPP investment = $12.50 bonus
$100 monthly PPP investment = $25 bonus
$200 monthly PPP investment = $50 bonus
$400 monthly PPP investment = $100 bonus
Not applicable for accounts at TD Waterhouse.

The best deal would be to do this in a TFSA; the worst in an RRSP. But $100 free for a $1,600 4 months investment is quite decent.
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Re: Switch to TD/CT, get $150 (was $250) bonus

Post by max88 »

I asked TDCT (via secured message) these questions:

Can the settlement account be a savings, chequing, or LOC?
Can I first set up PPP in a non-registered account and convert to TFSA next year when contribution room becomes available?
Must I keep monthly PPP for full 3 month? In other words, must I have 1st, 2nd, 3rd, and 4th monthly PPP transactions?

TDCT did not provide direct answers. Its reply asks me to go to branch or call its number.

LINK http://www.tdcanadatrust.com/products-s ... jsp?#legal
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Re: Switch to TD/CT, get $150 (was $250) bonus

Post by MALDI_ToF »

I wonder if putting it into a MM Fund would count. I would hate to invest it in say a bond fund only to lose over $100 waiting for them to give me $100.
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Re: Switch to TD/CT, get $150 (was $250) bonus

Post by max88 »

I have an application form (PDF file) without the TFSA option.... and my inquiry for an MF account application form with TFSA option returned the same thing: go to the branch or call this number, god-darnn it.
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Re: Switch to TD/CT, get $150 (was $250) bonus

Post by IdOp »

A question is what is the tax treatment of the bonus in a non-reg account? They only say
TD wrote:Tax Implications. There may be tax implications associated with the bonus.
If it's treated as income then a TFSA is better, but if it's more like a gift then a non-reg should be OK and simpler?
MALDI_ToF wrote:I wonder if putting it into a MM Fund would count. I would hate to invest it in say a bond fund only to lose over $100 waiting for them to give me $100.
Sounds like a good idea.
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Re: Switch to TD/CT, get $150 (was $250) bonus

Post by MALDI_ToF »

Another benefit with a MM Fund is that there is no 2% penalty for selling within 30 days. Once you get the $100 you can stop the PPP and immediately sell all the units and get your cash back with an extra $100.
Give a man a fish, and that man knows where to come for fish. Teach a man to fish, and you've just destroyed your market base.
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Re: Switch to TD/CT, get $150 (was $250) bonus

Post by MALDI_ToF »

Update: I went to my TD Bank branch to enquire. Guy was uncertain if the TD MM Fund could be used, but he called the office and it was allowed. He knew exactly what I was up to here; invest in the most risk free mutual fund possible and take the $100 bonus, then cash out. So, this should work. $400 in tomorrow and three PPP payments for a total $1600, then a bonus $100. Not too bad a return considering a four month period.

My parents want in on this so I will go with them and check again and get a second confirmation on using the TD MM Fund.

Has anyone else done this yet? What fund are you using?
Give a man a fish, and that man knows where to come for fish. Teach a man to fish, and you've just destroyed your market base.
1,1,2,1,3,2,3,1,4,3,5,2,5,3,4,1,5,4,1,5,4,7,3,8,5,7,2,7,5,....
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Re: Switch to TD/CT, get $150 (was $250) bonus

Post by max88 »

MALDI_ToF wrote:Update: I went to my TD Bank branch to enquire. Guy was uncertain if the TD MM Fund could be used, but he called the office and it was allowed. He knew exactly what I was up to here; invest in the most risk free mutual fund possible and take the $100 bonus, then cash out. So, this should work. $400 in tomorrow and three PPP payments for a total $1600, then a bonus $100. Not too bad a return considering a four month period.

My parents want in on this so I will go with them and check again and get a second confirmation on using the TD MM Fund.

Has anyone else done this yet? What fund are you using?
Make sure it's set up as PPP for the $400 in tomorrow.

TD MM fund is exactly what I am using. I still have some TFSA room for the first and second PPP's, and will set up so that third and fourth PPP's fall in 2014 when more TFSA room become available.
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Re: Switch to TD/CT, get $150 (was $250) bonus

Post by parvus »

Wow! Red flag deals. :thumbsup:
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Re: Switch to TD/CT, get $150 (was $250) bonus

Post by mcbar »

adrian2 wrote:
TD wrote:Get up to $100 bonus when you sign-up for a Pre-Authorized Purchase Plan by November 1st, 2013. Minimum monthly automated investment to qualify for a bonus is $50 and you can increase it at any time.
Set this up yesterday. It was an easy decision since I'm already buying money market each paycheque to be transferred into my e-series funds. Thanks for the heads up!
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