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

Published on March 17th, 2014 | by William Charles

6

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]



6
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

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

Back to Top ↑