TD Easy Trade Promo Offer - $100 for opening an account by March 1, 2023 | Investing | Discussion forum

hwyc said
https://tdeasytrade.td.com/

†TD Easy Trade™ 2022-2023 Winter Offer

Use Promo Code: GETSTARTED

Get $100 for opening an account by March 1, 2023,
funding and maintaining a minimum balance of $500 through June 30, 2023.

Get an additional $50 cash for setting up a Monthly Contribution Plan, or a Pre-authorized Deposit ($100+/month minimum) and completing the first transfer by April 30, 2023.

Offer ends March 1 2023. Conditions apply

Note that TD Easy Trade is via APP only. It can be TFSA, RSP or cash account.  

The small print does not talk about an annual or quarterly admin fee for this account. With a requirement for only $500 in the account, they must charge something since 50 trades are free and they are giving you $100 to open the account.

Apparently there's no minimum and no monthly fee. $500 cash parked until June for free $100. Only catch is you use an app probably.

Here's the full T&C dump:

†TD Easy Trade™ 2022-2023 Winter Offer

TD Direct Investing is offering a single Initial Transfer Award and a single Ongoing Transfer Award (as described below) to any qualifying new TD Easy Trade™ client or existing TD Direct Investing client who is a Canadian resident of age of majority in their province or territory by March 1, 2023. This offer begins on November 1, 2022 and ends on March 1, 2023.

Initial Transfer Award Details:

To qualify for the Initial Transfer Award, a client must:

Open a NEW TD Easy Trade™ account (“New Account”) by March 1, 2023 using the promo code GETSTARTED. The account type opened must be a single accountholder: Cash, TFSA, or RRSP account[ ]. Locked-in registered, non-personal and joint accounts do not qualify for this offer.
Transfer into the New Account $500 or more in investable assets or cash from another Canadian financial institution(s) or a TD Canada Trust account, to the new TD Easy Trade™ account(s) ("Qualifying Assets") by April 30, 2023 noting:
a. The Qualifying Assets must be in the TD Easy Trade™ New Account(s) by no later than April 30, 2023;
b. Transfers originating from pre-existing TD Easy Trade™, TD Direct Investing, TD Wealth Financial Planning, TD Wealth Private Investment Advice, TD Wealth Private Trust and TD Wealth Private Investment Counsel accounts are not included in the Qualifying Assets.
c. Investable assets exclude any securities that are restricted, subject to a cease trade order or that are non-listed and without independent evidence of current value acceptable to TD Direct Investing;
d. Qualifying Assets will be measured according to the combined value of Canadian and U.S. denominated assets deposited in that currency component of a New Account. U.S. dollar balances will be converted into Canadian dollars to determine eligibility.
e. Where a client opens multiple New Accounts, the Qualifying Assets will be calculated by combining the value of the assets transferred into the New Accounts. The client will only be eligible to claim a single Initial Transfer Award under either these terms.
Maintain the Qualifying Assets in the New Account(s) until June 30, 2023:
a. If a client withdraws, deregisters, or transfers assets from their New Account(s) at any time before: June 30, 2023 following the transfer(s) of the Qualifying Assets (the "Qualification Period"), such amounts will be subtracted from the value of their Qualifying Assets. If such withdrawals, de-registrations, or transfers during the Qualification Period reduce the amount of the client’s Qualifying Assets below $500, no award will be granted. Notwithstanding the foregoing, if assets are instructed into the account after April 30, 2023 and do not form part of the Qualifying Assets, the value of those assets may be withdrawn without affecting the valuation of the Qualifying Assets.
b. Margin debit balances are permitted and will not be counted against the value of assets held on account.

The Initial Transfer Award portion of the award for Qualifying Assets of:

• $500+ is $100 cash

Ongoing Transfer Award Details:

Clients are eligible to receive $50 cash award for the Ongoing Transfer Award if they:

Qualify for the Initial Transfer Award portion of the award.
Set up at least one Monthly Contribution Plan2 ("MCP") or Pre-Authorized Debit ("PAD") for transfer into at least one New Account, noting the minimum set up amount for a new MCP or PAD must be $100.
Complete the first transfer by April 30, 2023.

A client may only claim a single Ongoing Transfer Award under the terms of this offer.

Further Terms and Conditions:

To receive a cash award, a participant must keep the New Account open, funded and in good standing with TD Easy Trade™ until August 31, 2023. Good standing requires that the New Account must not go into a debit position or into a margin call. Debit positions on margin accounts are acceptable.
Employees of TD Bank Group are eligible for this offer.
This offer may be changed, extended or withdrawn at any time without notice.
For the accounts used to participate in this offer, this offer cannot be used in conjunction with any other offer.
The offer is not transferable.
There may be tax implications associated with the cash award. Clients should consult with their personal tax advisor for more information. For registered plans, the cash award is paid directly to the plan and is not considered a contribution.
Cancellation of MCPs and PADs require 3 months’ notice.
Interest, dividends and account fees will be excluded from calculations used to qualify accounts.
The maximum total award per client for the Initial Transfer Award and Ongoing Transfer Award is $150.

Terms of Award Payment:

The cash award will be paid in Canadian dollars to eligible client account(s) by August 31, 2023.

Where the client’s Qualifying Assets are transferred to a single account, the Initial Transfer Award portion of the award will be deposited into that account. Where the client’s Qualifying Assets are transferred to multiple accounts, the Initial Transfer Award portion of the award will be divided and deposited to each account in proportion to the value of the Qualifying Assets transferred into each account.

Where a client sets up or increases an MCP and/or PAD in multiple New Accounts, the Ongoing Transfer Award portion of the award will be divided and deposited into those accounts in proportion to the value of transfers into each New Account between the day(s) the MCP and/or PAD are created or increased to qualify, and August 31, 2023.

TD Direct Investing, TD Wealth Financial Planning and TD Wealth Private Investment Advice are divisions of TD Waterhouse Canada Inc.

TD Wealth Private Investment Counsel represents the products and services offered by TD Waterhouse Private Investment Counsel Inc., a subsidiary of The Toronto-Dominion Bank. TD Wealth Private Trust services are offered by The Canada Trust Company.

TD Easy Trade™ is a service of TD Direct Investing, a division of TD Waterhouse Canada Inc., a subsidiary of The Toronto-Dominion Bank.

TD Bank Group means The Toronto-Dominion Bank and its affiliates, who provide deposit, investment, loan, securities, trust, insurance and other products or services.

®The TD logo and other TD trademarks are the property of The Toronto-Dominion Bank or its subsidiaries.

2 MCPs are available for qualifying registered plans, PADs are available for qualifying non-registered plans.

https://tdeasytrade.td.com/offer/

https://www.td.com/ca/en/investing/direct-investing/services/easytrade

https://www.td.com/ca/en/investing/direct-investing/direct-investing-vs-easytrade

emax1234 said
Note there's a $150.00 withdrawal/transfer-out fee:
https://www.td.com/content/dam/wealth/document/pdf/direct-investing/599048-en.pdf

"Account Transfer Fees (Partial and Full) - $150.00
A fee will be charged for all accounts that are withdrawn
in full or transferred to another financial institution."  

I believe this is for transferring to another institution. That is very standards and it does not include HST. You can sell your equities and take the money out and close the account for free. If you want to keep the equities due to tax implications wealthsimple and questrade will pay the transfer out fee.

I opened a TD Direct investing account instead to earn 500$ because TD Direct Invest has access to hisa like tdb8192.

ca-tech-fire said

I believe this is for transferring to another institution. That is very standards and it does not include HST. You can sell your equities and take the money out and close the account for free. If you want to keep the equities due to tax implications wealthsimple and questrade will pay the transfer out fee.

I opened a TD Direct investing account instead to earn 500$ because TD Direct Invest has access to hisa like tdb8192.

I called about the $150 transfer fee. The response I received was if it's transferred to another BROKERAGE the fee would apply. If you transfer to your chequing or savings account at another financial institution (or TD accounts) there would be no fee. They gave me a reference 'ticket' number of our conversation for reference.

That's not quite correct. There will be a charge for withdrawals from RRSP accounts:

Retirement Savings Plan (RSP)
Withdrawal Fees

Full withdrawal fee $100.00
Partial withdrawal fee $25.00