Author Topic: What counts as a "direct deposit," in bank account opening bonuses?  (Read 715 times)

RusticBohemian

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I'm self-employed, so don't get a regular paycheck. I have plenty of money to meet the bonus requirements, but many of these banks want a regular direct deposit set up. Can I just set up a transfer from my other accounts into their account?

ixtap

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Re: What counts as a "direct deposit," in bank account opening bonuses?
« Reply #1 on: February 09, 2020, 11:11:58 AM »
You need to read the terms. Some say any ACH, so you could just set up a recurring transfer from another account. Others specify "from employer." Even those don't usually say pay check, so you may be able to set up a transfer from you business account to your personal account, but I would look around for confirmation of that before proceeding.

bacchi

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Re: What counts as a "direct deposit," in bank account opening bonuses?
« Reply #2 on: February 09, 2020, 11:33:13 AM »
Check what counts here: https://www.doctorofcredit.com/knowledge-base/list-methods-banks-count-direct-deposits/

I've often had credit union ACHs count even though they're not supposed to.

Duke03

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Re: What counts as a "direct deposit," in bank account opening bonuses?
« Reply #3 on: February 09, 2020, 11:45:18 AM »
Be the data point you want to see!!!  It's all trial and error.  Or just go to doctor of credit read the comments and see what is working and not working for other folks.