Posted by William Charles on March 17, 2014
Bank Account Bonuses

Published on March 17th, 2014 | by William Charles

11

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.

The Method

The Fees

  • 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.

View all of the fees here

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.

 

[Read: Methods Banks Count As A Direct Deposit]



11
Leave a Reply

avatar
 

  Subscribe  
newest oldest most voted
Notify of
David
David

This is a great little tip, going to use this to receive the $150 bonus currently on offer.

Laura R Gould
Laura R Gould

William Charles
Are you saying to switch your account on Amazon to the Chase debit card to achieve the direct deposit? and why does it have to be a friend that buys something?
Thanks

Anonymous166
Anonymous166

Laura R Gould
Don’t see why it has to be a friend. I imagine you could try buying your own item under a separate, pseudoanonymous account using a vpn and paying with Amazon cash (incidentally Amazon cash offering a one time 5$ credit).

Vanessa
Vanessa

Do you think this would this work for half.com?

Elyasaf
Elyasaf

Does this still work on chase?

DeezS8
DeezS8

Yes it works

JIE JIANG
JIE JIANG

Can i sell a e-giftcard on cardcash, and qualify chase dd? thx

XTXTX
XTXTX

no it is not working anymore

Alan
Alan

To become an Amazon seller there is a monthly charge of $39.99. Is this charge new or am I not doing looking in the right place? Maybe there is a way to sell without holding an official seller account? Any help appreciated.

Edit: My mistake. It’s only .99 per listing if you sell less than 40 items per month (which makes sense). In the FAQ they address this: https://services.amazon.com/selling/faq.html

XTXTX
XTXTX

Is that way still trigger the DD for Chase?

Back to Top ↑