How To Meet Minimum Debit & Credit Transaction Requirements
More and more bank account sign up bonuses and special interests require you to have a certain amount of debit card transactions to be eligible. AmEx has also announced two cards that have transaction play a part in the amount of rewards you’ll receive. Below we’ve outlined ways for you to hit these requirements without breaking the bank.
Debit Cards Only
Circle Pay From $0.50
You can send money to friends/family using Circle Pay, there is no fee to when you use a debit card. Read more about Circle Pay here.
Square Cash From $1
Similar to Circle Pay, but funds will go directly into your bank account. Minimum is $1.
Chime Card From $25
The Chime card is a reloadable debit card which can be loaded with other debit cards. Because of this it’s an extremely easy and cost effective way of meeting minimum debit card requirements. Unfortunately it’s not possible to use credit cards to load though so this will only work for debit card transaction requirements. More here. There is a minimum reload of $25 as well, so this isn’t a great option unless you actually use this card.
Amazon Giftcards From $0.50
Amazon.com allows you to purchase giftcards starting at only $0.50. There are no fees at all (the giftcard is sent by e-mail so no shipping required) and you can purchase giftcards from as low as $0.50 and any amount up to $2,000 per transaction. This is one of the easiest ways to hit these debit card transaction targets and you get a small Amazon Giftcard for your troubles. Purchase Amazon Giftcards here.
Be careful of doing too many of these in a short amount of time, as it can lead to your account being temporarily shut down. You can read more Chuck’s experience with this here.
Click here to find out how. This may be useful for reaching the requirements of some banks.
Use The Self Check Out Lane At Supermarkets
By using the self check out lane at a super market you are able to put through one item at a time. This can help you meet purchase requirements in one shop. If you do this, please only do it when it’s not busy as it will quickly agitate those in line waiting to use the self check out lane you’re hogging.
Pay At The Pump
Most gas stations will allow you to pay at the pump for your gas. Just purchase gas in small increments.
Donate To A Charity From $1
A lot of charities accept donations as low as $1 when donating via debit card. This is because the fees associated with debit cards are smaller than those associated with credit cards and in some cases these charities have special agreements with the processors.
If you have any other suggestions/tricks that we don’t have listed, please share them in the comments below.