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

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 gift cards from $0.15Amazon.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.

It’s possible to opt out of pinless debit with Amazon.

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.

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.

Final Thoughts

If you have any other suggestions/tricks that we don’t have listed, please share them in the comments below.

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killdozer
killdozer

does logging in to mint count as a login for all linked banks? so if i have 10 linked accounts to mint, I log in and out 5 times in a row, all 10 linked bank accounts will appear i logged in 5 times?

Jeff
Jeff

William Charles – The CHIME reference and link in the above goes to a URL page of your site that is from 2014 with very outdated information. https://www.doctorofcredit.com/an-introduction-to-chime-card-new-reloadable-cash-back-debit-card/

justmeha
justmeha

Chuck William Charles cash app and serve work as well

killdozer
killdozer

Paypal can be used to set up subscriptions to charge your card to meet HISA bank account debit charges. Example $0.01 x 30 per month.

I have a legitimate business account already with Paypal and they limit 1 business account per person. I do not want to commingle personal churning activities with my business. Are there any other similiar free services like paypal that can create subscriptions to charge my cards?

Jeff
Jeff

Doe PayPal send annual tax forms (e.g. 1099s) for PayPal Business accounts?

Jeff
Jeff

I created a PayPal business account to do this. But every time I try to subscribe from an external PayPal account to the PayPal business, it keeps saying “Sorry, we couldn’t set up your subscription using the payment method you selected. Please try another payment method.” I tried about 5 different cards.

Jeff
Jeff

Nevermind, got it working. I did not link a bank account or card yet, so it would not accept any transactions.

Jeff
Jeff

So I did this on 3 different bank accounts, great idea, but it does NOT work! It will work for the first 2 – 4 transactions, that is it. I had subscriptions set up the same way on 3 different banks, using 3 different debit cards, to charge $0.01 every other day. Again, the first 2 – 4 transactions go thru, then after that, you can see the transactions as “completed” on the PayPal end (both sides, subscriber and consumer), but on the bank side, it does not reflect any transactions. My guess is since it was only $0.01, paypal shows it as a “completed” transaction, but does not charge the bank anything because of the low amount, therefor, nothing shows up on the bank side.

Dustin
Dustin

Square Cash offers investing and has automatic investing with $10 minimum amount. You can auto add cash $1 per day and auto buy Stocks/ETFs/Bitcoin $14 per 2 weeks for ~30 automatic transactions per month or adjust cash frequency to suit your needs.

Jory
Jory

But this is only with 1 linked debit card. Can you link more than one card at a time? I don’t think the app allows you without deleting the previous card … 🙁 🙁 🙁

Ugh
Ugh

How do you auto add $1 per day? The lowest minimum I see is $10 per day (for both adding and investing).

Holly
Holly

Do you get 1 tax form from Square Cash regardless of how many investments you do, or many tax forms?

Susan
Susan

I use Pay With Ibotta to purchase small gift cards for things I’m going to buy anyway, like groceries at Walmart, or gift cards to restaurants. You get a tiny bit of cash back, and each transaction gets you closer to an Ibotta bonus.

kristen bilger
kristen bilger

does it have to be ran through as a debit card or simply swiping the card and it goea through as credit counts?

Julie Dike
Julie Dike

My bank codes Zelle withdrawals as debit card transactions. (My bank is not a Zelle partner, so that might actually be working in my favor). You can send money to yourself by setting up separate Zelle logins for separate bank accounts.

Game of Federal Reverse
Game of Federal Reverse

I have never used zelle. If your bank does not offer zelle then how do you use zelle from that bank account – can you (or someone else) please explain how to do this? Thanks!

Jory
Jory

Does anyone know of any charities or organizations that let you donate less than a dollar? It seems most have a $1 minimum … 🙁 🙁

LightAcolyte
LightAcolyte

National Federation of the Blind at https://www.nfb.org/donate and American Council of the Blind at https://acb.org/donate allow $0.50 donations, but only through those exact web portals I gave above. If you try to donate through local chapters, state affiliates or any of their subsidiaries or divisions it won’t go through for less than $1 (EDIT: or some of them even $5). Unfortunately, every other charity I’ve tried doesn’t…and also, you should always check at give.org with the Wise Giving Alliance how major national charities are spending your donation, in particular before you decide to give them a lot more than $0.50.

LightAcolyte
LightAcolyte

Hi Jory, I’ve tried replying to this a few times since August but it seems my comments keep getting deleted. I only know of two charities out of all the ones I’ve tried, you have to donate through their primary national websites only (National Federation of the Blind [NFB] and American Council of the Blind [ACB]). You go to their primary national website and not their state affiliate, local chapter, division or subsidiary organization websites and then go to the Donate link that is in the top middle to top right (it should take you to a page that is the primary domain name only followed by the slash and then “Donate” in the web address). These sites both allow you to donate $0.50 at a time, just don’t sign up for the recurring monthly option from PayPal otherwise it won’t count as POS purchase (it’ll count as automatic debit instead). Here’s to try four! (Also, I apologize if the way I’m telling you to do this is super annoying, but I’m not sure if maybe the direct links to the main website and then the donate is maybe flagging me for automatic deletion or something. If there were a page where I could post data points for all the ones I’ve failed at doing $0.50 also then that would be helpful information to post but it is dependent on which portal you use to even be able to donate $1 vs $5 sometimes so this is important to differentiate how you access an organization’s donation options.)

Jory
Jory

Thank you for the information! I was hoping there would be a charity out there that takes smaller transactions like .01 or .02 … 🙁 🙁 🙁

LightAcolyte
LightAcolyte

Well, Jory, I guess you’re in luck! I just tried both of the above charities and it appears there is no minimum at all for your donation…unless you consider $0.01 to be a minimum. (smile) However, before you give $0.01 instead of $0.50, I do have this suggestion to offer: in my state, assuming there is a tax credit for the charity you are donating toward, you may be able to take a tax credit in addition to a federal tax deduction as long as you do not itemize deductions in 2020. So, if you donate $0.50, for each date you do that because donations are registered by transaction date when filing taxes this means each $0.50 rounds up to $1 of deduction for that date (if you did multiple on the same date it is the total of transactions on that date and then rounded to the nearest dollar). Then, in addition, you get on top of that the state tax credit for $1 because that is also rounded to the nearest dollar (again, at least in my state I have confirmed that). So, the charity benefits from your $0.50 minus any fees they have to pay on the transaction, and you get $1+ in tax benefits back (assuming you owe taxes if the credit is not refundable in your state) for each separate date with each charity you do this. This only works since 2020 in my state because of the CARES Act $300 deduction above-the-line now allowed without itemizing. Check with your state’s Department of Revenue if you want to know what charitable tax credits you might qualify for there in addition to the federal tax deduction above-the-line anyone can use and how they are handling the itemizing of federal tax deduction vs. taking of a state tax credit for 2020. In addition, since the $300 deduction above-the-line also reduces AGI according to the current tax prep. software and forms from the IRS, this can qualify you for additional tax credits (or a higher credit) you may not otherwise qualify for based on income if you are within $300 of the limit. I have no idea how this may be treated in future tax years, so I’d reconfirm it each tax year in my state before I resume.

Jory
Jory

Wow, thank you for this information! You are so helpful!!! 🙂 🙂 🙂

Ryan paschall
Ryan paschall

Did 7 transactions at .50 ea. On Amazon gift cards and 1.00 ea 3x on square. Thanks for this resource

Jory
Jory

Square or cash app?