TD Bank's $100 Student Checking Bonus: A Simple Way to Earn Extra Cash

If you're a student looking for a straightforward checking account with a nice little cash incentive, TD Bank has an offer worth considering. They're giving $100 to new customers who open a specific account and meet a simple spending requirement. It's not the biggest bank bonus out there, but for students, the terms are relatively easy and the account itself has some decent perks. Let's break down exactly what you get, what you need to do, and what you should watch out for.

How the $100 Bonus Actually Works

The mechanics are simple. First, you open a new TD Complete Checking account. You must be a new checking customer to TD Bank—if you've had a personal checking account with them before or gotten a bonus from them in the past, you won't qualify.

Once your account is open, the clock starts. You have 60 days to make 15 purchases using your new TD Visa® Debit Card. It's important to understand what counts: you need to buy goods or services. Simply withdrawing cash from an ATM doesn't qualify. Also, if you return something, that purchase might be deducted from your total.

After you've hit that 15-purchase mark, TD Bank will deposit the $100 into your account. Just be patient—they say it could take up to 180 days after you opened the account for the money to show up. Your account needs to be open and in good standing when they pay out.

Why This Account Makes Sense for Students

Beyond the bonus, the TD Complete Checking account has features tailored for younger adults. The biggest one is the fee structure. If you're between 17 and 23 years old, you won't pay the standard $15 monthly maintenance fee. That's a huge plus, as avoiding fees is a top priority for any student budget.

Once you turn 24, you'll need to meet one of the other conditions to keep the fee waived, like maintaining a $500 daily balance or having $500 in direct deposits each month.

Other student-friendly perks include having non-TD ATM fees waived (though the other bank's ATM might still charge you) and access to tools like mobile check deposit and Zelle for sending money.

Practical Tips and Potential Pitfalls

This offer seems straightforward, but the devil is always in the details. Here's what you need to keep in mind to successfully get your $100 and avoid headaches.

• Track your 15 purchases meticulously. Don't guess. Use your online banking to confirm each transaction posts as a 'purchase,' not a 'cash withdrawal.'
• Plan your spending. You need to make 15 separate transactions. Think about splitting grocery trips, buying coffee, or paying for streaming services with the debit card to hit the target naturally.
• The six-month rule is critical. If you close the account for any reason within the first six months of opening it, TD Bank can take the $100 bonus back. Even if you've already received it, they can deduct it from your balance at closing. Plan to keep the account open for at least half a year.
• Remember the eligibility exclusions. You cannot have had a TD Bank personal checking account closed in the last 12 months. This is a common rule that trips people up.
• Taxes are a thing. The $100 bonus is considered taxable income. TD Bank will likely send you a 1099 form, so you'll need to report it when you file your taxes.

Bottom Line

• A solid, low-effort bonus for students who can naturally make 15 debit purchases in two months.
• The age-based monthly fee waiver (17-23) is a major benefit that makes this account cost-effective.
• The long payout window (up to 180 days) and six-month minimum account hold are the main constraints to factor into your decision.

Common Questions