Author Topic: Checking Account Churning -- Direct Deposit from SSDI  (Read 719 times)


  • Bristles
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  • Posts: 331
Checking Account Churning -- Direct Deposit from SSDI
« on: January 01, 2019, 07:03:42 AM »
I get a Social Security Disability Check each month, direct deposited to the credit union I've been using for several years. I believe they won't charge me a monthly checking fee if I cancel direct deposit.

Is it a bad idea to say every 3 months or so open up a new checking account to get $200-300 sign up bonus, contacting social security each time to change the direct deposit account?  Thinking this might upset Social Security somehow, or I might run into a problem where I don't get a check one month due to some sort of issue.  (Although, I have enough emergency savings it wouldn't hurt me if a check was delayed a month.)

I am concerned I won't be able to do direct deposit from my self employment business and have it count for the churned checking accounts.  Would be great if I could.  I make around $600-$750 per month with self employment and could do a regularly scheduled deposit.  I wonder how the banks know if the money is coming from an employer or personal account?  Do I need to setup a business checking account or something?  Right now I have a separate checkign account within my personal set of accounts and it hasn't been a problem thus far for my business.


  • Stubble
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  • Posts: 185
Re: Checking Account Churning -- Direct Deposit from SSDI
« Reply #1 on: January 01, 2019, 04:54:38 PM »
I don't see anything wrong with changing your DD every few months.  SS isn't going to care or even notice you making the change because I'm sure it's all automated.  An alternative is to use bank transfers instead of DD.  Some banks recognize transfers from other banks as DD.  Here is a guide to help you with figuring out what will work.