Author Topic: Bank account churning: how to make $1600 in a year by being organized  (Read 79566 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.

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.

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.

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.

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 »

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.

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. 

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.

CanuckExpat

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #312 on: June 29, 2018, 09:26:08 AM »
Seems like a slam dunk, if you don't mind waiting nine months to double $200:
https://www.doctorofcredit.com/fidelity-sign-up-for-investing-spending-accounts-get-200-bonus

katsiki

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #313 on: June 29, 2018, 11:47:03 AM »
Seems like a slam dunk, if you don't mind waiting nine months to double $200:
https://www.doctorofcredit.com/fidelity-sign-up-for-investing-spending-accounts-get-200-bonus

This is a great card for world travelers as well!

kpd905

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #314 on: June 29, 2018, 12:02:44 PM »
Seems like a slam dunk, if you don't mind waiting nine months to double $200:
https://www.doctorofcredit.com/fidelity-sign-up-for-investing-spending-accounts-get-200-bonus

It was such a slam dunk that they have already ended the promotion.  Glad I got both of ours opened.

If anyone is interested in the Citi checking bonuses ($200, $400 or $600), you need to sign up by tomorrow.  Info is here: https://www.doctorofcredit.com/citi-400-600-personal-checking-savings-bonus-available-nationwide-direct-deposit-not-required/

lexde

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #315 on: June 29, 2018, 12:22:43 PM »
Current in progress bonuses:

Chase Biz - $300.00
Valley National - $200.00
WF Personal - $200.00

Need to open:
Suntrust - $200.00

lexde

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #316 on: June 29, 2018, 12:27:22 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
I went in and was a little pushier which I think helped. I was in and out after about 45 minutes, but I have many chase cards (personal and biz) as well as a pre-existing relationship. I just told them “I want this product, here is my sign up code, I don’t want any extras, and I have another appointment in an hour so we need to get this done.” They’d rather sign you up than not, so putting a strict time limit on banks for things like this tends to help.

MasterStache

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #317 on: June 29, 2018, 03:27:24 PM »
Seems like a slam dunk, if you don't mind waiting nine months to double $200:
https://www.doctorofcredit.com/fidelity-sign-up-for-investing-spending-accounts-get-200-bonus

It was such a slam dunk that they have already ended the promotion.  Glad I got both of ours opened.

If anyone is interested in the Citi checking bonuses ($200, $400 or $600), you need to sign up by tomorrow.  Info is here: https://www.doctorofcredit.com/citi-400-600-personal-checking-savings-bonus-available-nationwide-direct-deposit-not-required/

I passed on the Citi. Ties up too much money for too long for me.

MasterStache

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #318 on: June 29, 2018, 03:30:10 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
I went in and was a little pushier which I think helped. I was in and out after about 45 minutes, but I have many chase cards (personal and biz) as well as a pre-existing relationship. I just told them “I want this product, here is my sign up code, I don’t want any extras, and I have another appointment in an hour so we need to get this done.” They’d rather sign you up than not, so putting a strict time limit on banks for things like this tends to help.

I went and signed up for the $750 Huntington Business a couple days ago. Literally was in and out in 20 minutes. I didn't ask but the banker told me I can downgrade the account if I don't like the fees. I plan on doing that very thing once I get the business.

v8rx7guy

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #319 on: June 29, 2018, 03:45:39 PM »
I've lost track, but I'm well over $1500 at this point.  Most recent have been:

Chase Business Checking: $300 (probably going to use this account for my business from here on out)
CapitalOne 360: $200 (not a very good return on $10K, but it also yields 1.6% and I'll probably keep my EF here from here on out)

I also tried the Elements Financial checking for $200 but either they are no longer "seeing" CapitalOne deposits as Direct Deposits, or I have screwed something up because it's been two weeks and no Bonus posted...

Duke03

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #320 on: June 29, 2018, 05:32:25 PM »
Anyone do the chase business checking account that doesn't really have a business LOL?  I've got several business cc one being with them and have thought about it.  I do have a business that I make about 10k a year off but I run it as a sole proprietor and don't have tax numbers ect.

katsiki

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #321 on: June 29, 2018, 05:56:28 PM »
If anyone is interested in the Citi checking bonuses ($200, $400 or $600), you need to sign up by tomorrow.  Info is here: https://www.doctorofcredit.com/citi-400-600-personal-checking-savings-bonus-available-nationwide-direct-deposit-not-required/

Thanks for mentioning this!  I was stalling on this for some reason...  It was an easy application process.

tralfamadorian

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #322 on: June 29, 2018, 05:56:55 PM »
Anyone do the chase business checking account that doesn't really have a business LOL?  I've got several business cc one being with them and have thought about it.  I do have a business that I make about 10k a year off but I run it as a sole proprietor and don't have tax numbers ect.

You do have a small business so you do qualify for business accounts. Some banks have asked only for my SSN. Some ask for the business EIN. Some want both. Getting an EIN from the IRS is free and instant.

https://www.irs.gov/businesses/small-businesses-self-employed/apply-for-an-employer-identification-number-ein-online

v8rx7guy

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #323 on: June 29, 2018, 06:29:08 PM »
When I signed up for the chase business checking, they wanted my EIN

lexde

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #324 on: June 29, 2018, 06:36:10 PM »
Anyone do the chase business checking account that doesn't really have a business LOL?  I've got several business cc one being with them and have thought about it.  I do have a business that I make about 10k a year off but I run it as a sole proprietor and don't have tax numbers ect.
Yes. Just say you’re in resale. If you’ve sold something on eBay/Craigslist, congrats! Resale. Your SSN is your TIN for sole proprietorship. Just tell them the business is your full name. They don’t ask too many questions other than what they need to plug in to open the account. I.e. what kind of business, expected profits, current assets, how long it’s been open, etc.

kpd905

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #325 on: June 29, 2018, 07:45:35 PM »
I just opened the Chase Business checking using just my social security number as a sole proprietor.

How much has everyone made so far for 2018, since we are now at the halfway point?

We (two player mode) are currently at $2900 paid, with another $3081 pending. 

I am shooting for $7,000 this year from banks, and $20,000 total from banks + credit cards + tradelines + other random stuff.

Paul der Krake

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #326 on: June 29, 2018, 08:01:20 PM »
I just opened the Chase Business checking using just my social security number as a sole proprietor.

How much has everyone made so far for 2018, since we are now at the halfway point?

We (two player mode) are currently at $2900 paid, with another $3081 pending. 

I am shooting for $7,000 this year from banks, and $20,000 total from banks + credit cards + tradelines + other random stuff.
I'm at a paltry $800 total for 2018 (most of it not paid out yet). Haven't seen many good offers in my state, I don't bother with anything under $200.

MasterStache

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #327 on: June 30, 2018, 05:15:13 AM »
I just opened the Chase Business checking using just my social security number as a sole proprietor.

How much has everyone made so far for 2018, since we are now at the halfway point?

We (two player mode) are currently at $2900 paid, with another $3081 pending. 

I am shooting for $7,000 this year from banks, and $20,000 total from banks + credit cards + tradelines + other random stuff.

Dang that's awesome! If I had more money to play with I would probably be a bit higher. I've had a lot of side work come my way so I've been busy as hell this year. Not as much time to pursue every bonus.

Looks like we are at $1700 paid with another 2K pending. As far as CC's not sure. We did just get back from Florida and had our flights (4 people) hotel and rental car all paid for with CC rewards. Saved us roughly 2K at least.

We are selling more tradelines this year. I think these are drying up with some CC companies cracking down.

Roots&Wings

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #328 on: July 02, 2018, 05:54:12 AM »
I just opened the Chase Business checking using just my social security number as a sole proprietor.

How much has everyone made so far for 2018, since we are now at the halfway point?

We (two player mode) are currently at $2900 paid, with another $3081 pending. 

I am shooting for $7,000 this year from banks, and $20,000 total from banks + credit cards + tradelines + other random stuff.

Seriously impressive kpd! You might smash your overall $20k goal.

2018 YTD: $3,330 total in bank accounts ($1500) and credit card bonuses ($1830). Might not get the $100 Incredible bonus because my employer screwed up DD and won’t hit by 7/15. I’ll try Vanguard and Discover ACH’s to see if those might trigger bonus, can’t believe there are still no data points for what qualifies as a direct deposit with Incredible bank.

Orin!

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #329 on: July 05, 2018, 01:24:56 AM »
I have made $3000 in bank account bonuses in the last two months. Florida is great. Props to doctorofcredit.com

Chase total checking $300
Discover savings $200
Discover savings player #2 $200
Discover savings player #3 $200
National Valley Bank $200
National Valley Bank player 2 $200
Suntrust $500
Memory bank $100
PNC $200
TD $150
Hancock $300
Elements $200
5 3rd $250
Fidelity $200

Total $3000

v8rx7guy

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #330 on: July 05, 2018, 09:32:18 AM »
I have made $3000 in bank account bonuses in the last two months. Florida is great. Props to doctorofcredit.com

Chase total checking $300
Discover savings $200
Discover savings player #2 $200
Discover savings player #3 $200
National Valley Bank $200
National Valley Bank player 2 $200
Suntrust $500
Memory bank $100
PNC $200
TD $150
Hancock $300
Elements $200
5 3rd $250
Fidelity $200

Total $3000

Did you actually set up direct deposit for your elements checking bonus?  Mine is not posting using Capitalone360 transfers...

Orin!

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #331 on: July 05, 2018, 09:55:17 AM »
I have made $3000 in bank account bonuses in the last two months. Florida is great. Props to doctorofcredit.com

Chase total checking $300
Discover savings $200
Discover savings player #2 $200
Discover savings player #3 $200
National Valley Bank $200
National Valley Bank player 2 $200
Suntrust $500
Memory bank $100
PNC $200
TD $150
Hancock $300
Elements $200
5 3rd $250
Fidelity $200

Total $3000

Did you actually set up direct deposit for your elements checking bonus?  Mine is not posting using Capitalone360 transfers...

I did not set up an actual DD on any of these except the first Chase account.

On Elements, which seems to have triggered it was a ACH push from Discover checking account. I did two of them of $501 and $502 and four days later it posted.

v8rx7guy

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #332 on: July 05, 2018, 09:59:31 AM »
I have made $3000 in bank account bonuses in the last two months. Florida is great. Props to doctorofcredit.com

Chase total checking $300
Discover savings $200
Discover savings player #2 $200
Discover savings player #3 $200
National Valley Bank $200
National Valley Bank player 2 $200
Suntrust $500
Memory bank $100
PNC $200
TD $150
Hancock $300
Elements $200
5 3rd $250
Fidelity $200

Total $3000

Did you actually set up direct deposit for your elements checking bonus?  Mine is not posting using Capitalone360 transfers...

I did not set up an actual DD on any of these except the first Chase account.

On Elements, which seems to have triggered it was a ACH push from Discover checking account. I did two of them of $501 and $502 and four days later it posted.

Is there a difference between an ACH push and an external deposit?  My two transfers have been tagged "External Deposits" on the Elements website
« Last Edit: July 05, 2018, 10:04:29 AM by v8rx7guy »

Orin!

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #333 on: July 05, 2018, 10:40:51 AM »
I have made $3000 in bank account bonuses in the last two months. Florida is great. Props to doctorofcredit.com

Chase total checking $300
Discover savings $200
Discover savings player #2 $200
Discover savings player #3 $200
National Valley Bank $200
National Valley Bank player 2 $200
Suntrust $500
Memory bank $100
PNC $200
TD $150
Hancock $300
Elements $200
5 3rd $250
Fidelity $200

Total $3000

Did you actually set up direct deposit for your elements checking bonus?  Mine is not posting using Capitalone360 transfers...

I did not set up an actual DD on any of these except the first Chase account.

On Elements, which seems to have triggered it was a ACH push from Discover checking account. I did two of them of $501 and $502 and four days later it posted.

Is there a difference between an ACH push and an external deposit?  My two transfers have been tagged "External Deposits" on the Elements website

My Discover ACH push marked as an “external deposit” as well.

I first did an external push from a different bank at the end of May. A month went by and no bonus posted as I just threw some more at it from a different avenue and then it triggered. I really like my Discover checking account. It does pushes and pulls. I heard ally and Capitol 1 360 do the same.

In the end I don’t know if my first push trigger the elements bonus or the second. But I read people got their bonus shortly after so I threw Discover at it and then it posted four days later.