Published on June 17th, 2015 | by William Charles21
Santander Adds A Definition For What Is A Direct Deposit For Their Extra20 Deal
Santander offers a checking + savings account that allows you to earn $20 per month, I’ve now been earning this for over a year and it’s one of our most recommended bank bonuses due to it’s on going nature. The requirements of this bonus are as follows:
- Receive $10 a month when you receive direct deposits totaling $1,500 or more per month
- Receive $10 a month when you pay two bills per month through the BillPay tab in online banking. You must receive the direct deposit bonus to be eligible for this bonus
In the past almost anything counted as a direct deposit, but they’ve been cracking down on this practice recently. They’ve now clearly defined what counts as a direct deposit for this bonus and if you’re an existing customer you should see this at the bottom of your next statement:
This is the standard definition of what counts as a direct deposit, but it also includes that they are pretty intent on closing down any loopholes that still exist. I’ve actually changed my employer payroll to auto deposit $1,500 a month into this account so I can set it and forget it, so that would be considered a win for Santander (although I still won’t b a profitable customer for them in the end – so it really doesn’t make that much of a difference).
You can still find out what else is currently triggering the direct deposit requirement here.