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sk9879
sk9879 (@guest_2097897)
July 12, 2025 17:09

Fringe case DP to keep in mind: I’ve been using Treasury Direct T-bill payouts to trigger the $20 monthly bonus. My July payout happened to land on July 1st; however, Laurel Road has an “Early Pay” feature, so they posted the deposit on June 30th, and it didn’t count as a July deposit. Grrrr..

Eric 🔗
Eric 🔗 (@guest_2097903)
July 12, 2025 17:20

sk9879,

See my comment here for my advice to prevent this from recurring: #2094561 .

catcat,

This DP will be of interest to you.

Eric 🔗
Eric 🔗 (@guest_2097353)
July 11, 2025 18:34

I received a certified letter today from Laurel (KeyBank) warning me that my Checking account has gone dormant and will be closed if I don’t have specific activity on my account within about a month.

I was completely baffled by this as I have had at least 1 deposit and 1 withdrawal post to my account every month that I’ve had it!

I then saw this gem under the FAQs at the end: “Unfortunately, many state laws do not consider online banking or recurring transactions as client-initiated activity, so your account may still be considered dormant, even if recurring transaction have taken place.”

Laurel gave me 4 choices to prevent my account from being closed. 2 of the 4 are not feasible for me so my only choices are to make a debit card purchase or mail them a notarized letter that I want to keep my account open.

That’s a pretty easy choice! 😉

T
T (@guest_2097754)
July 12, 2025 12:55

I’m pretty sure either PaulinTexas or Pickle Rick🔗 recently wrote about recurring transactions not qualifying to keep accounts active, but I can’t find the comment.

An
An (@guest_2072916)
June 5, 2025 14:17

Would you rather keep this for the $10/mo or close it and hope a good offer comes back? For the same offer, the difference including the $20/mo reward would be $170 ($370 over the next 24+13 months vs $540 about 24+13 months later).

I’m thinking I’ll just keep it.

Josh
Josh (@guest_2073561)
June 6, 2025 15:49
  An

What qualifies as a deposit for the $10? Does it have to be a real DD or can it be another type of transfer in?

An
An (@guest_2073571)
June 6, 2025 15:59

I have a Treasury Direct T-Bill redemption every 4 weeks. You can find other ways under the post “List Of Methods Banks Count As Direct Deposits”.

Eric 🔗
Eric 🔗 (@guest_2073893)
June 7, 2025 09:51
  An

While your strategy works fine, keep in mind that you are purchasing an extra T-Bill every year than is needed.

An
An (@guest_2073953)
June 7, 2025 11:55

Yeah. I’m not taking advantage of the early pay here either… I’m using LR as the source for the purchases.

Eric 🔗
Eric 🔗 (@guest_2073960)
June 7, 2025 12:26
  An

I don’t take advantage of the early-DD for Laurel either because the funds arrive too late in the day for me to pull using LCB so I just wait until Tuesday to initiate the pull.

BTW, what you are doing is kind of dangerous for 2 reasons.

#1. At some point, Laurel could notice that you are using the same FI (TrD) to push to and pull funds from. It’s much better to have an intermediary (eg LCB) between Laurel and TrD.

#2. More importantly, you are banking (pun intended) on the DD arriving to Laurel with no issues by scheduling the withdrawal before the funds even arrive. All you need is for something to go wrong 1 time and then you’ll have issues with Laurel and TrD.

An
An (@guest_2074021)
June 7, 2025 14:07

Thanks Eric 🔗 you made me realize I need precautions for #2.

marty
marty (@guest_2077307)
June 13, 2025 11:20
  An

It looks like they don’t offer this account anymore, so unless they bring it back, not sure if monthly activities make it worth $120 per yr

Eric 🔗
Eric 🔗 (@guest_2077509)
June 13, 2025 15:18

I don’t follow your logic. If the account is no longer available for new customers, the $120/year that we are getting as existing customers is even more valuable.

marty
marty (@guest_2077567)
June 13, 2025 16:37

Ha, yeah I meant to point that out since the original comment was comparing the regular $10/mo vs offer plus $20/mo. But since the account type doesn’t exist, who knows what they’ll offer down the road. So essentially comes down to whether 120/yr with monthly activities is worth it.

Eric 🔗
Eric 🔗 (@guest_2078357)
June 15, 2025 17:15

Personally, I consider buying a T-Bill and then transferring the funds out using LCB 12 times a year well worth it. 😀

marty
marty (@guest_2078974)
June 16, 2025 16:53

Yeah, I’m inclined to agree, just wish there was a way to automate the Treasury side of things

An
An (@guest_2052737)
May 1, 2025 14:02

Hm, my $20 reward for April hasn’t posted yet… Edit: It just posted.

Anthony Paganini
Anthony Paganini (@guest_2052585)
May 1, 2025 10:05

My DD expected May 1st came in on April 30th, but the Laurel screen also shows “you have hit $2500 in direct deposits this month.” Took a screenshot but wondering if anyone else has seen this?

Eric 🔗
Eric 🔗 (@guest_2052586)
May 1, 2025 10:08

Laurel offers early-DD. That’s why your DD posted 1 day early. If you are concerned that it won’t count for May, do a C of I transfer as TrD still counts as a QDD for Laurel.

K2
K2 (@guest_2031416)
March 26, 2025 00:15

eBay Seller payouts are not counting as DD

K2
K2 (@guest_2038959)
April 6, 2025 02:00
  K2

Never mind, it DOES count. it took a few days to reflect. Usually with other DDs, it is immediate for me.

JCstrike
JCstrike (@guest_2014083)
February 28, 2025 18:39

Can confirm Chase Biz payroll push to Laurel Road qualifies as Direct deposit!
I used Chase Biz to complete the remaining DD requirement for this month’s bonus.

vc
vc (@guest_1995369)
February 1, 2025 10:50

Does anyone’s tracker show that they got the bonus last month, but it hasn’t been deposited it?

JD
JD (@guest_1995373)
February 1, 2025 11:09
  vc

They never deposit on weekends.

vc
vc (@guest_1995411)
February 1, 2025 12:21
  JD

Thanks. I thought that they were not paying ppl who did alternative DDs.

vc
vc (@guest_1996757)
February 3, 2025 11:38
  vc

It posted today.

JTX
JTX (@guest_1987547)
January 17, 2025 20:12

does anyone know if i still get the $10 monthly reward on the 14th month and afterward if i stop the $2.5k direct deposit? It said “From the fourteenth statement period onward, the eligible reward will be $10/month for as long as the Laurel Road Loyalty Checking account (“Account”) is open.”…so it sounds like as long as I keep the checking account open, I will get the $10?

Gadget 🕵️‍♂️ Bank Bonus Geek 🔗
January 18, 2025 18:00

The bonus stops when the DD stops… and the bonus will resume if you re-start the DD. No bank I know of just hands out $10 a month just to have an account without some qualifying activity. JTX

Voyager
Voyager (@guest_2016951)
March 5, 2025 09:53

Is it worth continuing for 12 months or closing the account after 6 months and being ready for the next churn? Continuing the monthly DD is not an issue.

Gadget 🕵️‍♂️ Bank Bonus Geek 🔗
March 5, 2025 11:19

Up to you. Personally, I closed it after the $20/month was completed. At $10 a month, it’s kind of weak. If the $300 offer + $20 per month comes back, it’s definitely worth churning. But there are no guarantees that will happen, nor that you would get approved for a new account. For whatever reason, I cannot even get P2 approved for the savings account, and she was a past checking customer for the 13 months.

You need to be without an account for 24 months to come back for the $20 per month deal. Maybe the $300 offer will be back by then? Voyager

Voyager
Voyager (@guest_2030774)
March 25, 2025 11:50

I plan to keep the checking account till $20 continues sometime around SEP 2025. Is there any up/down side for keeping the savings account till the checking account is open?

JD
JD (@guest_2030784)
March 25, 2025 12:02

The upside is once a DD hits your checking you can immediately transfer it to the savings and then pull it out over the weekend while earning double interest.

TyrannicalDuncery
TyrannicalDuncery (@guest_1979155)
January 4, 2025 19:01

If I miss a month of direct deposits >=2500, will I still earn the bonus if I direct deposit >=2500 in the subsequent month?

TyrannicalDuncery
TyrannicalDuncery (@guest_1979157)
January 4, 2025 19:02