Posted by William Charles on December 5, 2014
Bank Account Bonuses

Published on December 5th, 2014 | by William Charles

33

How To Use Our Direct Deposit Page For Bank Bonuses Page

If you participate in any bank bonuses, you know that one of the most common requirements is that you complete a direct deposit above a certain amount to trigger the sign up bonus. Usually the fine print will state it has to be a employer payroll or government benefit. Changing which bank your employer uses might be OK if you do it once or twice, but if you start asking for it to be changed every month then your payroll department might start getting annoyed.

Thankfully, there are work arounds and lots of them. Unfortunately every bank is different. Some banks will allow any ACH transfer to trigger the bonus, whilst once banks will allow a brokerage account transfer to trigger the bonus. Some bonuses will not trigger with an ACH transfer from one bank, but they will work from another page. Awhile back I created the “List Of Methods Banks Count As Direct Deposits” page. To compile all of these different data points, I regularly update it from various difference sources.

How To Use This Page

People are often confused about how to use this page, so here is my simple guide. In my example I’m going to pretend that I’m trying to research what will trigger the direct deposit requirement for Chase bank bonuses.

1. Select the bank that’s offering the bonus. You can either scroll down and click on this or use ctrl+f to search for your bank and then click it.

chase click

2. You’ll now see “the following count as direct deposits” along with a whole heap of different names and numbers and then further down “the following don’t count as a direct deposit”. What you’re looking for is a financial institution that you have an account with. Let’s say I have Alliant, American Express Serve & Capital One 360 accounts.

direct deposits

3. Alliant and Capital One 360 are both listed as not working, so I know that transferring money from those accounts to Chase will not trigger the bonus. American Express is listed as working, so it should work.

4. Now I can click on the numbers next to American Express to see how old the data is. The higher the number, the newer the data. The newest data point is from March 2014. That is relatively recent so I’ll try that.

direct deposits

5. Success, it worked and I received my bonus. Time to go celebrate! Not so fast! That page would be more useful if others knew that American Express serve worked in December 2014, so I’ll scroll to the bottom and write in the comments section “I used American Express serve for Chase and it worked in December 2014. Thanks for this resource page”

direct deposits

The more people that contribute the better this page comes. I know a lot of you use it, people usually don’t report something unless it’s to say something doesn’t work. Please let me know when something does work, that way I can update the page and people can be sure that it worked more recently.

If you’re doing bank bonuses, you might also find the following pages helpful:



33 Responses to How To Use Our Direct Deposit Page For Bank Bonuses Page

  1. mileswhip says:

    my mango money deposit from Paypal went through and showed as EFT, will that count as Direct Deposit for the bonus? wondering if you had any recent data points. Tried Chase to Mango and got my Chase account temporarily locked for identity fraud.

  2. Audrey says:

    With serve, do you do it like a bill pay? How do you transfer money?

    • As stated by another commentator “You first add the bank account to your serve account and then do a withdrawal. You have to dig for the withdrawal feature, but rest assured it’s there.”.

  3. JB says:

    Just wondering about Square. As soon as I have received the debit card from the new bank, it should be good to be used to transfer money in from another “real” debit card, e.g. a C1-360 or BofA card etc. Would that trigger a successful deposit?

  4. mike says:

    I know I can use Serve to satisfy direct deposit for Chase bank. I’m assuming direct deposit is just bill paying my checking? Thanks.

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  22. Ted says:

    Hi DOC. I just found your blog and commend you for putting together and maintaining this very useful information. I already applied for some bank bonuses, but none that required DD. I know you compiled a very comprehensive list of what each bank has accepted as meeting their requirements for DD, but can you tell me what method is accepted most often by most banks. Let me try to clarify: If I were to pick ONE account to use as an ACH source, which would it be? (Example: Ally, Alliant, AmEx Serve, Discover, PayPal, etc.) Thank you in advance!

    • Really varies by bonus, so just look and see what has worked in the past. Typically if ACH works all bank ACH will work, but not always. Sorry I can’t be more specific but it just changes so much between banks.

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  24. Mark says:

    Does ACH transfer mean you have to setup the payee bank as external bank and then make a transfer? so in essence this would be ACH pull. Is there a way to transfer money without setting external account.

    Also, I have a son in college, can you open a checking account in his name and earn bonuses or you need to be employed in order to open an account? when you fund your account for the first time either with credit or another account, the names have to match. So unless the Son has checking account it won’t be possible to fund the account.

    • Gadget says:

      No, it would be an ACH push. That means you setup the routing and account number in your “old” account, then do the transfer of funds from that account to the new acct. Names on the new and old account usually say they must match, but depends on the bank. It looks shady when they don’t; like your paying someone under the table.

      If you do an ACH pull, i.e. setup the transfer in the new account, all you have done is transfer/deposit money. If you are just trying to deposit money, the fastest way is to deposit a check via the mobile app, or go to the teller with cash in hand. However, that will not count as a DD, no way, no how.

      First, your son needs to be 18, I believe, by law. Then you might be able to create checking accounts for your son (with his consent, I hope) and he does not necessarily have to be employed. (Many people do this for their wife/husband) However, with little or zero ChexSystems history, no employment, they may have questions on where he is getting his money. He will probably need to get on the phone, may need to sign a signature card, and may get denied more times than approved. (They may want to make a joint account with a parent? That probably would exclude yourself from being to collect the same bonus in your separate account) Name on credit card/debit card (almost always) must match, and billing address too I believe, but the way around that is to add him as an Auth. User and get a card with his name on it. (Just keep in mind that means he can pick up the phone and have another card sent to him, if that is a concern) Also, some accounts don’t require immediate funding – sometimes you can transfer it in later. Be advised, CC funding doesn’t always work, and you should lower your cash advance limit to ensure you don’t get sacked with CA fees. Just depends on the bank & card being used.

      Also, many bonuses are one per HOUSEHOLD. How well that is enforced, I do not know.

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