Tuesday, July 7, 2009

New Account & Simply Save Program

Recently I posted about the need to have two bank accounts.  I've been waiting for a good bank promotion to open up a new account.  The TD Simply Save is the promotion I ended up going with.  Yesterday I opened up a chequing and savings account with TD.


Both new and existing customers are eligible for the Simply Save promotion.  I think it's worth looking into.  You set up a savings program which transfers between $0.50 to $5 (you decide the amount) from your chequing to your savings account every time you use your debit card for purchase and/or withdrawal.  Then every time your total transfers reach $100, TD will give you $10.  That's a 10%  guaranteed return.


Sign up before July 24, 2009 and you can earn this bonus money for a year.  Maximum bonus you can earn is $200.  I don't think I will reach $200 bonus, since it will require me to use the card 400 times in a year (I signed up to transfer $5 each transaction) or more than once a day.  However, knowing that whatever I save will get 10% return is pretty good.