TD Bank is Giving Away Money

We keep an “emergency fund” lying around in a savings account.  We decided on $30,000.  We earn pretty much nothing on this money.

TD Bank is currently offering $300 to open a new Premier account, so I went ahead and opened two accounts, one for my husband and one for me.  I transferred $2,500 into each account from our emergency fund and changed our direct deposit for a few paycheck cycles.

Free money courtesy of TD Bank. Why not?
Free money courtesy of TD Bank. Why not?

$300 is 12% of $2,500 – that’s a fabulous guaranteed return on investment.  It sure beats the fraction of 1% that we earn in our normal savings account!

95 days after opening a new premier account – during which time the account balance doesn’t drop below $2,500 and $2,500 is direct deposited — TD Bank will deposit $300 into each account.

Here’s the link to the promotion:

https://www.tdbank.com/personal/premierchecking_inc.html

I’m not sure if we’ll keep either account open past Day 96.  I did visit a TD Bank branch in my neighborhood, and I was impressed by an ATM in the lobby which distributes any dollar amount, in the bills of your choice.  Well… I was impressed by the idea of it.  It was out of order that day.

It’s a good gimmick, this $300 bonus.  I never would have stepped foot in the bank otherwise.  I’m a sucker for free money.

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