Posted by William Charles on July 1, 2018
Bank Account Bonuses

Published on July 1st, 2018 | by William Charles

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July Is National Bank Account Bonus Month

In the spirit of making things up I’ve decided to anoint July as national bank account bonus (NBAB for short). The aim of NBAB is to celebrate bank account sign up bonuses and to also try to find and post as many new bonuses as possible.

How To Celebrate

Here’s how you can celebrate:

How We’re Helping

  • Alert system. My goal for July is to set up as many automated alerts for new banks as I possibly can, I’ll be starting with the most populous states and working backwards from there. I hope to have automated alerts set up for every bank in the nation by the end of 2018. That doesn’t mean you shouldn’t set up your own alerts or stop checking in branch though. The more people searching, the more we can find.
  • Rewards for useful comments. I’ve been slack when it comes to ‘best comments of the month’ recently. I’ll be bringing this back for July with a big focus on bank account bonuses and useful comments there.
  • Surprises. There will be a few surprises as we go, I won’t say much about those just yet.

Final Thoughts

Let us know in the comments how you plan to celebrate and what else we can do to build the profile of NBAB.

 



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JT
JT

“Introduce family and friends to the game.”

Tried that. Doesn’t work. Some people just hate money.

Beefer
Beefer

I have the same problem. Bank accounts scare the general population for whatever reason.

I can’t even pretend to understand it.

My friends and family won’t even do the trivially easy chase checking bonus.

They think that a bank account is a blood contract and you have to give them your first born or something.

u/closertothesunNA
u/closertothesunNA

Drives me nuts.

Ken
Ken

Yup. If it takes anything more than minimal effort nobody wants to lift a finger to do it. I have offered to do 100% of the work and split the bonus money and people still don’t want to do it because “I don’t want to wait a few months for $100 even though I don’t have to do anything to get it” BS mentality. But if I hand them $20 they take it. I don’t get it. People are stupid.

Eric
Eric

I think you just figured it out. “I don’t get it. People are stupid.”

Toad
Toad

Same. Sent all my family the Fidelity deal that just happened, no takers. If you can’t convince someone to take a $200 after 7 days for transferring in $200, then why try. I can understand not wanting to jump hoops, but come on!

Ann
Ann

I was going to try to tell some relatives about the Fidelity deal, but the deal didn’t stick around long enough to. Since they already have an IRA there, I thought they’d be more receptive to it.

Amy
Amy

What Fidelity deal? Did I miss that? I will look that up. I have one, wonder if I can still do one.

And yes, I am surprised at how people who claim to need a couple extra hundred dollars for something and have great jobs, won’t even look at bank account bonuses. Free money

Ann
Ann

You missed it, it was last week, only lasted a day.

L2thedub
L2thedub

Same here. I can convince people to sign up for credit card bonuses, but when I mention the hundreds of dollars I make from bank account bonuses every year, no one seems to care. I just don’t get it!! Bank bonuses are so easy.

Eric
Eric

Why are they receptive to credit card bonuses?

L2thedub
L2thedub

Likely because the bonuses for credit cards are in the thousands of points so it sounds enormous. Also, I think people are accustomed to having multiple credit cards or know of people who have multiple credit cards. Whereas, most people usually only have 1 bank account their whole life so they’re not comfortable signing up for additional ones. And thus the comment below, where people assume they’re doing something wrong by opening multiple bank accounts. They also probably thinks it’s a hassle, not realizing that now you can signup for a bank account online in like 5 minutes wearing your pajamas.

L2thedub
L2thedub

I’m glad that people are stubborn about it though. If everyone did it, banks wouldn’t be as generous with their bonuses and we wouldn’t be as happy 🙂

Yet Another Redditor

^ This. I posted about this on churning yesterday
https://old.reddit.com/r/churning/comments/8v155j/daily_discussion_thread_june_30_2018/e1kimyu/

My family and friends constantly ask me if this is legal. They can’t believe it is legal to open 40+ checking/savings accounts in a year and make $10K+ from them. I stopped talking about them in the last year or so.

I tell my co-workers that outside of the billable hours at work, you are not getting paid and this is how you can make those hours count.

But if I cannot sell folks a $500 (often times x2 for SO) SunTrust bonus they can do from their couch, I cannot sell them anything churning.

I regret repeatedly asking people I knew to sign up for the CSR.

I am done selling churning.

Now, I only give answers to specific questions and mostly ask them to read DoC instead of spoon-feeding them distilled details from DoC.

Eric
Eric

Do you really make $10K a year on this or are you exaggerating?

Yet Another Redditor

I actually made more than $10K last year. No kidding. I had the breakdown listed on churning for a few months but took it down later.

KYNerd
KYNerd

I’d love to see it if you still have a breakdown of it. I’m fairly new at the churning game on bank accounts and credit cards. I started with looking for a good interest rate bank account to stash some funds I wanted to keep liquid for now, and saw there were much greater opportunities to let my money work for me than I’d ever realized.

Yet Another Redditor

I did the following bonuses last year. I am not listing the exact amounts but you can figure those out. I did these in 2-player mode and was not able to hit M&T too hard. Also, since I am on a work visa, I am unable to do a lot of these online and have to do them in-branch or not at all.

Follow DoC’s guides and let me know if you have specific questions, either here or on r/churning.

BMO Harris
Capital One 360
Chase
Citibank
Discover
Fifth Third Bank
First Tennessee Bank
Fulton Bank
HSBC
Huntington Bank
M&T Bank
Northpointe
PNC
Popular Community Bank
SunTrust
TD Bank
TIAA Direct
Wells Fargo

Beefer
Beefer

Hilarious Will. I love the idea!

_here_
_here_

In honor of NBABM, can you convince M&T to join the game again? 😉

Yet Another Redditor

They heard you..

Jover

I’m hoping to get the payout from my past 3 signups (Chase business checking, Florida Community Bank, and Fidelity’s recent offer).
Also I tweeted a couple weeks ago about these bonuses and free money I’ve earned (over 1.1k so far in 2018) and people were amazed. But nobody really asked details… I guess I’ll write a post on my new blog

Duke I.

Where to find the link to the Florida Community Bank deal? I don’t recall seeing it here.

arizonapv
arizonapv

I’ve told people that collecting bank bonuses is my new hobby and they don’t even ask a follow up question, so I stopped mentioning it! What is your blog?

Chris
Chris

I’ve had the same problem with reluctant family members. Only about 3 out of 20 want to take the time to make it happen. Even though they all marvel at how we can travel so much and fly first class, they just can’t bring themselves to commit

Bob
Bob

I really feel better after reading the comments about friends and family. I thought I was the only one who had family who didn’t want to make free money. Hard to believe!

Well, that’s more for us.

(Fidelity lasted one day??? Glad I jumped on that one. Already got the bonus, thanks Fido and DoC!)

Frank
Frank

Anyone struggling to get their ID verified after moving? I got rejected from 3 accounts saying they could verify my ID. I asked Equifax for my CR (reason for one of the denials) and they said they couldn’t send it because they couldn’t verify my address -.-

emergdoc67
emergdoc67

never happened to me; i immediately changed my address after i moved with every bank I had business and changed my driver’s license, car registration, etc.

I now do bank bonuses at my old and new state

arizonapv
arizonapv

emergdoc67 How do you do bank bonuses at both states? I moved from CA to AZ 2 year ago. Please share how you do this. Does the mail get forwarded, is that how it’s done or do you log in and change your address after the applic. has been approved? I’ve changed my address at all of the places you mentioned except for my driver’s license. Banks do often send a letter or something, so I’m wondering how you handle this.

emergdoc67
emergdoc67

I did USPS mail forwarding when I moved; it’s been 13 months and they still forward. I moved from my parents’ house, however, so it is low risk if any mail wasn’t to reach me – my parents could send it. I would definitely say that anyone who moves has at least a 6 month period in which USPS guarantees forwarding. FWIW legally, my parents are happy to confirm that the ‘other address’ is still a residence of mine, albeit not my primary residence.

Ann
Ann

For the record, the official limit is 12 months of forwarding, followed by 6 months of sending mail back to the sender with an address-change notification sticker,

arizonapv
arizonapv

Thank you for explaining. The USPS does continue to forward mail for a bit after the forwarding expires.

arizonapv
arizonapv

That sounds really odd. I figured I might get rejected cause my DL’s address does not match my current address, but I’ve been surprised to see that I do get approved. There must be something else going on with your ID because Equifax can’t verify your address. Have you updated all your addresses at your banks and credit cards?

arizonapv
arizonapv

Since you mentioned going state by state, is there a minimum criteria for having a bank/credit union included in the list? I just got $50 for opening an account at a local credit union, but it had to be opened in branch. $50 isn’t much of a bonus but it only required a $5 account opening. The $50 was instant. I can’t touch the money for 3 mos though and have to keep the account open for 30 days, otherwise I lose the $5. I was wondering cause a $50 bonus is small potatoes, but didn’t require much effort. In case you are wondering, the offer has expired.

emergdoc67
emergdoc67

In the past year I’ve completed US Bank, BofA, TD, BMO, Chase, Fifth Third, WF, Columbia NJ, Fulton NJ, PNC, and Hancock Whitney bonuses. Ongoing with Regions, HSBC, BofA round 2, Citizen’s Bank, BB&T, Chase round 2, Santander.

Looking for more at this time.

Thanks for the cash doc.

Klobb
Klobb

How long did columbia bank take to post for you?

HarryTheFirstHarry
HarryTheFirstHarry

Should post last business day of month after you complete the requirement(s). If it does not post very likely a glitch as in my case…just call the branch and they will credit it manually. This is a good bank when it comes to bonuses. If not automatically post, they will do it manually, but has to be done by branch than the main CS.

Gerald
Gerald

Will, if you’re willing to do a little work, you might be able to make it “official.” Check this out: https://www.daysoftheyear.com/submit-a-day/

Information Booth
Information Booth

I discovered this site about a year ago. I told my mom about it… we’ve been doing together ever since!! John 3:16

Tworth
Tworth

I’ve not done bank account bonuses yet. Started on credit card bonuses about a year ago. I may take the plunge. The main thing that I’m concerned about with bank accounts is the direct deposit requirement on so many of them. I don’t want to inconvenience my employer by changing my paycheck direct deposit.

Kyle
Kyle
Ann
Ann

And occasionally a bonus opportunity shows up with no DD requirement. You don’t have to do them all. 🙂

Dan
Dan

Not all bank account bonuses require direct deposit, though many do. And, as Kyle linked, there are ways to get around those direct deposit requirements. At the very least, you should do the Chase checking bonuses each year.

Master Allan
Master Allan

Chase is catching on to me. Jan 2018 was my 3rd $500 yearly signup over 3 years. The banker said “I see you have opened accounts with us several times. What can we do to keep you as a customer barring opening and closing accounts? Anticipation of an awkward moment I prepped a side story about relocation. Then used an actual Chase check from my wife for the opening deposit cause you know, she recommended them on their customer service. I probably will give this one a rest in 2019.

potatoslayer
potatoslayer

My employers do everything online so I just change nearly every pay period. At one point I had my check separated into 11 different accounts at one employer and five accounts at the other. Too bad my spouse doesn’t have DD available (ironically works at a bank.). Changing DD is pretty easy and takes me less than 3 min.

I do know the head of payroll at one job and she doesn’t seem to even care.

AKJohnny
AKJohnny

I’m game… I submitted an Amegy $550 offer last month but nothing happened with it as far as getting it listed…

Novacat05
Novacat05

I got into the game in February and my haul for the year is up to $1750 earned with $450 pending across 10 accounts. I’m 10/10 in being approved for all accounts. It’s not easy but I’m going to stop for this calendar year before I start getting denials and can churn a couple like Chase next year.

I talked my wife into letting me use her for a 2nd Discover savings(easiest bonus ever!) and it took some convincing to do. But she’s fine with me doing the work under my name… if I told other members of my family how easy it is to get this free money, they wouldn’t want to do the work. Like all of you I just don’t get why not. I guess they don’t like free money. Once I realized bank accounts don’t affect your credit score, why not? I am extremely organized when it comes to personal finances so keeping track of these bonuses and accounts is a cakewalk with a spreadsheet. Proud to say never 1 late payment or penny paid in interest in around 18 years or so since establishing credit when I was 17 or 18 and a sterling credit score of 820+. I must be doing something right! Not heavily into the credit card game and I’m only at 2/24 but realizing I could have done better over the years with opening bonuses, I mostly only maximize cash/points back categories but do that very well.

Big thanks to DoC and all the authors for this site! I really enjoy tracking and doing all these bank account bonuses and adding DPs for everyone else in the comments which I make sure to do for every bonus.

EW
EW

[PA Only] Inspire Federal Credit Union
$100 Personal Checking and $250 Business Checking Bonuses
Expires 7/31/18
Limited to those who live or work in Bucks County, PA
https://inspirefcu.org/inspire-fcu-blog/bristolgo

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