Author Topic: Bank account churning: how to make $1600 in a year by being organized  (Read 68708 times)

MasterStache

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #300 on: March 23, 2018, 12:46:26 PM »
The HSBC bonus CanuckExpat posted is a really good deal, you don't often see $350 for tying up $10k for 90 days.  The deal ends on Monday for anyone interested.

My $350 bonus posted today. It was a long wait, and I figured it wasn't coming, but it showed up.
The deal is alive again until the end of the month: https://www.doctorofcredit.com/hsbc-200-750-checking-bonus-direct-deposit-not-required/#Advance_Checking_350_Bonus

HSBC seems to be hit or miss for paying out

I am reluctant to try the HSBC bonus. Wayyyyy to many data points of it being a PITA. I have been hitting a lot of the bonuses this year under my wife's name.
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Paul der Krake

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #301 on: March 23, 2018, 02:51:31 PM »
Twist: all the data points are from HSBC employees trying to discourage churners.

MasterStache

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #302 on: March 23, 2018, 04:20:36 PM »
Twist: all the data points are from HSBC employees trying to discourage churners.

Haha, that's a lot of employees.
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kpd905

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #303 on: March 23, 2018, 05:21:47 PM »
The HSBC bonus CanuckExpat posted is a really good deal, you don't often see $350 for tying up $10k for 90 days.  The deal ends on Monday for anyone interested.

My $350 bonus posted today. It was a long wait, and I figured it wasn't coming, but it showed up.
The deal is alive again until the end of the month: https://www.doctorofcredit.com/hsbc-200-750-checking-bonus-direct-deposit-not-required/#Advance_Checking_350_Bonus

HSBC seems to be hit or miss for paying out

How long was that for your bonus to post? We just hit 90 days this week, wondering when I might see my $350.
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CanuckExpat

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #304 on: March 23, 2018, 07:34:49 PM »
How long was that for your bonus to post? We just hit 90 days this week, wondering when I might see my $350.

Looks like opening deposit Nov 14th 2017. Bonus posted Mar 22 2018

MasterStache

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #305 on: March 24, 2018, 07:26:32 AM »
The HSBC bonus CanuckExpat posted is a really good deal, you don't often see $350 for tying up $10k for 90 days.  The deal ends on Monday for anyone interested.

My $350 bonus posted today. It was a long wait, and I figured it wasn't coming, but it showed up.
The deal is alive again until the end of the month: https://www.doctorofcredit.com/hsbc-200-750-checking-bonus-direct-deposit-not-required/#Advance_Checking_350_Bonus

HSBC seems to be hit or miss for paying out

How long was that for your bonus to post? We just hit 90 days this week, wondering when I might see my $350.

Most data points I see are saying roughly 120 days.
Earn 25K SPG Points after 3K spend: http://refer.amex.us/KYLEDiFKR?xl=cp10

Get $250 statement credit after 1K spend AMEX Blue Cash: http://refer.amex.us/KYLEDk5SI?xl=cp10

tralfamadorian

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #306 on: April 07, 2018, 11:22:33 AM »
I don't know why it took me so long to add checking account churning to my list. For this year so far:

Name/ Bonus/ Annualized Return
Chase Checking, $300, 40.0%
Chase Savings, $200, 5.2%
Memory Bank Checking, $100, 66.7%
Wells Fargo Checking, $200, 2000.0%
Elements Financial Checking, $200, 80.0%

Compared to credit card bonuses, I really like that there is no hard credit pull and that I don't have to worry about a minimum spend. I also am able to change my paycheck deposit accounts to multiple accounts with specific numbers so it makes it easy to not have to worry about a ACH push being counted or not by a bank.
« Last Edit: April 07, 2018, 11:56:15 AM by tralfamadorian »
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AmEx Delta Gold 50k through 5/16/18

HAPPYINAZ

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #307 on: April 08, 2018, 02:14:22 PM »
I did my first bank account churning today.  Thank God for Chase Bank...they are the gift that keeps on giving.  I did the checking for $300 bonus and the savings for a $200 bonus.  I'll be back to do the business checking for another $300 and will also take my wife up there to rinse and repeat.  I had a question on getting my wife a checking account.  She doesn't work so in order to get a direct deposit my employer allows me to split my check into several accounts as little as $25 a month.  Does anyone know if that will fit their direct deposit requirement so she will get the $300 bonus.  Funny thing is I had the private client guy drooling from the mouth once they started asking investing and net worth questions.  I simply had to smile and tell him as a fee conscious investor I didn't see how he'd be able to help me.....

yes, you can use your direct deposit into her account to meet the requirements.  We did this for my account with Chase.  I am self employed, but my husband can split his paycheck into several accounts, so we divided his into two accts (his and mine) with Chase and met the bonus requirements.

MasterStache

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #308 on: April 09, 2018, 05:49:32 AM »
I don't know why it took me so long to add checking account churning to my list. For this year so far:

Name/ Bonus/ Annualized Return
Chase Checking, $300, 40.0%
Chase Savings, $200, 5.2%
Memory Bank Checking, $100, 66.7%
Wells Fargo Checking, $200, 2000.0%
Elements Financial Checking, $200, 80.0%

Compared to credit card bonuses, I really like that there is no hard credit pull and that I don't have to worry about a minimum spend. I also am able to change my paycheck deposit accounts to multiple accounts with specific numbers so it makes it easy to not have to worry about a ACH push being counted or not by a bank.

Yep, the downside is that the bonuses are taxable. I try to do a mix of both. I like the $500-$1000 spend for $200 statement credit cards as well. Very easy to hit a few of those throughout the year.
Earn 25K SPG Points after 3K spend: http://refer.amex.us/KYLEDiFKR?xl=cp10

Get $250 statement credit after 1K spend AMEX Blue Cash: http://refer.amex.us/KYLEDk5SI?xl=cp10

dragoncar

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #309 on: April 23, 2018, 04:57:04 PM »
I don't know why it took me so long to add checking account churning to my list. For this year so far:

Name/ Bonus/ Annualized Return
Chase Checking, $300, 40.0%
Chase Savings, $200, 5.2%
Memory Bank Checking, $100, 66.7%
Wells Fargo Checking, $200, 2000.0%
Elements Financial Checking, $200, 80.0%

Compared to credit card bonuses, I really like that there is no hard credit pull and that I don't have to worry about a minimum spend. I also am able to change my paycheck deposit accounts to multiple accounts with specific numbers so it makes it easy to not have to worry about a ACH push being counted or not by a bank.

Yep, the downside is that the bonuses are taxable. I try to do a mix of both. I like the $500-$1000 spend for $200 statement credit cards as well. Very easy to hit a few of those throughout the year.

Just did chase business, it was a PITA.  They were really nice it just took forever with the upselling and “let me introduce you to the team” BS (she literally introduced me to every employee in the branch- luckily many were at lunch)

For $300, by really $200 after tax and $140 after opportunity cost, the hourly rate is getting pretty low

MasterStache

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #310 on: April 24, 2018, 05:18:49 AM »
I don't know why it took me so long to add checking account churning to my list. For this year so far:

Name/ Bonus/ Annualized Return
Chase Checking, $300, 40.0%
Chase Savings, $200, 5.2%
Memory Bank Checking, $100, 66.7%
Wells Fargo Checking, $200, 2000.0%
Elements Financial Checking, $200, 80.0%

Compared to credit card bonuses, I really like that there is no hard credit pull and that I don't have to worry about a minimum spend. I also am able to change my paycheck deposit accounts to multiple accounts with specific numbers so it makes it easy to not have to worry about a ACH push being counted or not by a bank.

Yep, the downside is that the bonuses are taxable. I try to do a mix of both. I like the $500-$1000 spend for $200 statement credit cards as well. Very easy to hit a few of those throughout the year.

Just did chase business, it was a PITA.  They were really nice it just took forever with the upselling and “let me introduce you to the team” BS (she literally introduced me to every employee in the branch- luckily many were at lunch)

For $300, by really $200 after tax and $140 after opportunity cost, the hourly rate is getting pretty low

That kind of sucks. The branch near me was busy so no introductions thankfully. Man you have a high tax rate. My wife does our taxes and our tax rate was under 10%. Keep in mind she works full time and I semi-fired around July. I am not sure how she pulled that one off.

I am actually struggling to keep up on some of the bank bonuses this year as I don't have enough in savings to hit all the ones I would like. 
Earn 25K SPG Points after 3K spend: http://refer.amex.us/KYLEDiFKR?xl=cp10

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tralfamadorian

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #311 on: April 24, 2018, 06:05:35 AM »
Sorry to hear that Chase business was a pita @dragoncar

My easiest so far has been Memory Bank. From opening to bonus to close was ~1 week.
Best credit card bonuses right now:
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