I was on Red Flag Deals and I came across a great incentive from TD Canada Trust for anyone who opens a new chequing account with them. The incentive this year is that you can earn $150 by opening an Infinity or Select Service chequing account. Nothing is as easy as it seems, and in order to earn the incentive, you need to complete a few requirements outside of just opening a chequing account or credit card.
How do I earn the incentive?
|Bonus||Must be Completed by May 11th, 2012||Must be Completed by June 30th, 2012 to get the bonus|
- A new Infinity Account
- A new Select Service account
|- Complete one recurring and eligible regular Direct Deposit
- Complete two Bill Payments (via Pre-Authorized Debit or EasyWeb) OR sign up for Simply Save ®
To earn the cash bonus of $150, there are definitely a list of things to get done, however when you consider the fact that if you are a new customer or even one switching to TD Canada Trust, you would be getting these stuff done sooner or later.
With the Infinity Account ($14.95/ month), you are given access to a worry free chequing account that gives you unlimited transactions. While on the other hand, the Select Service account ($29.95/ month) is a premium, all inclusive account where virtually all of your everyday banking needs are covered.
I can imagine what you are thinking right now; these accounts have pretty high fees, especially the Select Service account. Well look at it this way, the Select Service account waives the annual fee of the premium credit card. This means you are able to get up to $170 waived depending on the credit card.
Is this deal worth it?
How I see it, TD Canada Trust offers you the chance to get your account fees waived if you are able to keep a minimum monthly balance of $3,500 for the Infinite account and $5,000 for the Select Service account.
Truthfully, if you are able to keep those balances, especially for the Select Service account, then this deal is more than worth the switch. You not only get a great bonus, but the account features available on both of these accounts are second to none.
The fact is, last year TD was offering a very similar deal, however the bonus was $250. I am not complaining, but it would have been nice to see the same amount given. Although, the difference in the promotions are that there was another condition to the deal.
You have until June 30th, 2012 to get the requirements completed before TD Canada Trust ends the promotion, so be sure not to miss out if you are opening an account with them.
What do you think of the deal?