Published on March 17th, 2014 | by William Charles4
Receiving A Direct Deposit From Amazon To Qualify For Bank Sign Up Bonuses
[If you use our link to sell on Amazon, we will receive a small commission if you choose to purchase any items on the site. You don’t have to use our links but by doing so you help this site grow.]
A lot of bank account sign up bonuses require you to receive a direct deposit to be entitled to earn the bonus. You can usually use an ACH transfer to trigger the bonus but a lot of banks are cracking down on this. Another tactic is to use Amazon, we’re going to outline the process below.
- Sign up to sell on Amazon
- List an item for sale
- Have a friend purchase the item
- As an individual you pay $0.99 for every time you list an item and
- Variable closing fee of $1.35 per item sold and
- A 8-15% referral fee
For example, let’s say I sell a book for $10. I’ll pay the following fees:
- $0.99 listing fee
- $1.35 variable closing fee
- $1.5 referral fee
For a total of $3.84 in fees.
The fees are quite high if you need a direct deposit of say $500, but if you only need a direct deposit and no amount is specified (which is the normal for the Chase sign up bonuses) this can be an easy way to receive a qualifying direct deposit.
This method works for the following banks:
- Chase: 1
If you’ve used this method for any other banks, let us know in the comments section people.