Update: this promotion expired
AlexElder updated his post and gave me permission to post his new article! Thanks Alex 🙂
This promo is open to existing and new customers. i.e. anyone living in Canada
You must be 19+ years old.
Offer valid May 29 August 4
Brief summary of the promotion.
TD Canada Trust is giving away ipod Shuffles (512MB) and ipod Nanos (1GB).
To obtain an Ipod Shuffle
- Transfer over a bank account from another institution using the EasySwitch program offered by TD Canada Trust.
- Set up(or have already in place) One of the following:
- One Direct Deposit (1 DD). Any external deposit to the account which is electronically credited to a customer’s account on a weekly, bi-monthly or on a monthly basis (quarterly or annual credits do not count as regular deposits)
- Two Pre-Authorized Debits (2 PAD’s) This includes automatic bill payments registered with outside companies as well as TD Mortgage, Loan, VISA or LOC PADs. Pre-authorized transfers or PTS do not qualify. This means setting up an automatic transfer from a chq to sav account every month does NOT work.
To obtain an Ipod NANO
You must do part 1 and either part 2.1 or 2.2 from the above Ipod shuffle deal.
You must also be approved for a brand new TD Gold Elite or Travel Visa (will be referred to as Gold Visa from now on) and accept it. The Gold Select Visa is not applicable for this promo. If you want more info on the 2 Visa cards head over here. There is an overlapping promo for the Travel visa as well. You get 7500 bonus start up points.
I will be talking about the nano promo from now on because the shuffle promo is pretty straight forward.
KEY INFORMATION FOR GETTING YOUR NANO WITH THE LEAST FEES
- The Gold Visa has an annual fee of $99/$120. This can be waived by having a Select Service account
- The Select Service account has a monthly fee of $24.95. This fee can be waived by maintaining a monthly balance of $5000 in the account.
- If you donâ€™t have $5000 to keep in your Select service account you will most likely have to pay for 1-2 months of service fees depending on when you do the work for the promo and how fast you get your DD or PADâ€™s set up.
The following are step by step instructions on how to get a Nano with the least fees. If you want to pay the fees, it will be around $100 still not bad for a Nano, but nowhere close to Free.
FOR EXISTING TD CUSTOMERS
- Open a President’s Choice (PC) Financial (or any other chqing account at any bank like CIBC RBC, etc. PC Financial is free so its preferred) you do not need any money in this account.
- Or you can transfer over an account you already have open that you donâ€™t really need.
- tell a TD financial rep(not a teller) you want to take advantage of the Nano promo
- provide them with your PC Financial account number(not bank card number) so they can start the transfer process over to your TD account
- You will be asked for a day when you want the easyswitch dept to call you. Pick a time when you will have about 10-20 mins free to be on the phone.
- Apply for your Gold Visa (If you are not approved then you wont be able to get the Nano, but there is a possible way around this if you have $5000. Leave a comment below if you want more details about this issue.
- When you are approved(either on the spot or in a day or two after the application is started by the rep) Upgrade your TD account to the Select Service account so you donâ€™t get the Gold Visa annual fee.
- Deposit $5000 if you want to get around the Select service fee(24.95 a month during the time you are waiting for the nano).
- Set up your 1 DD or 2 PADâ€™s. These can already be existing in your account. So if you have your Payroll going into your TD account you already got this step done. You can use the Visa you are getting for one PAD as well. So you really only need 1 DD or 1 PAD for the Nano promo. You can set up the VISA PAD at the TD bank, the other PAD you can simply do yourself by obtaining a direct deposit/PAD form from the rep. and provide that to your work/billing company.
No you will need to have some info with you for the EasySwitch call.
You will need your PC account# and your TD account number handy. Also, it would help if you knew when you opened the PC account.
After the call is done you are in the home stretch. All you have to do is wait for your Nano. TD will not inform you that you have qualified, but your account will be flagged. If you want you can ask a TD rep if your account is flagged about 2 weeks after you do the call. Your DD or PADâ€™s do not actually have to go through, they just need to be registered to your account. They get registered once your work/billing company put the work through so I canâ€™t guarantee a timeline on this.
Once you receive your Nano you can downgrade/close your Gold Visa, then downgrade/close your Select service account. Make sure you do it in that order because the Select Service account needs to be there while your Gold Visa is an Annual fee one.
If the Select service account you have is a brand new account then do not close it rightway, downgrade it first. Then close it after 90days are up.
The PC Financial account will get 2 charges due to the EasySwitch. A balance of account transfer(BOAT) fee and an early closing fee. These both will be taken care of by the easyswitch. If easyswitch does not cover them your PC account will just not be transferred over. However, because you already went through with the easyswitch work, that still qualifies you for the Nano. This actually happened to a few people during last yearâ€™s promo.
FOR NON EXISTING TD CUSTOMERS
You will be doing all of the above, but instead of using an existing TD account you will have to open a new TD account.
Here is my quick FAQ.
Q: Do ING, ICICI or any other non traditional bank savings accounts work?
A: No, they do not, but during last years promotion people were able to transfer over traditional bank savings accounts like BMO, CIBC, RBC etcâ€¦
Q: Do GST chqs count as Direct Deposits?
A: No, they must be monthly DDâ€™s. So Child tax benefit, pension, EI etcâ€¦ those would count.
Q: I already have a DDâ€™s going into my account, can I use that?
A: Yes, please read the top part of the post. Basically anything existing can be used except for the Gold Visa
Q: Can I use a DDâ€™s thatâ€™s on my RBC account?
A: Yes you would have to obtain a Direct Deposit form from your TD Rep and provide it to your company. The same goes for PADâ€™s.
Q: Can I get the Nano if I got the Shuffle during last yearâ€™s promo?
A: yes you can. If a rep says you canâ€™t go to another branch, they might not know much about the promo.
Q: Can I get a Nano and a shuffle this year?
A: No, the Nano is an upgrade to the Shuffle if you get a Gold Visa.
Q: Is it really worth all the trouble?
A: That is up to personal opinion. But I think it is. This promo involves you going to two banks. Both trips combined should take about 30 mins. Then your easyswitch call which takes about 10-20 mins. So thatâ€™s rounded up 1 hr for over $150 value.
Q: I still have a question
A: Please leave a comment and I’ll ask AlexElder to kindly help answer your questions.
Good Luck everyone. Enjoy your nano/shuffle if you choose to take advantage of the promo.
PS: Here are a few other benefits of this promo
You will get 7500 bonus Travel points if you sign up for a travel Visa worth $112.50.
You will have unlimited transactions while you are waiting for your NANO due to the select account.
Free certified chqs and free bank drafts/money orders
You can order free chqs
You can get a free borderless USD account that gets you a slightly better exchange rate