Bank account churning: how to make $1600 in a year by being organized

[lexde]

M&T is stating it's out of my region. Any workaround to that?


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I am out of the region as well, but it doesn't matter, just go to their site and select the EZ Choice Checking.  Put in either QC or QD as the promo code.  After your bonus posts, open up another account using the other promo code.

Thank you!!

+1

Awesome tip, thank you! Did your initial account funding count as the $100 direct deposit or did you have to do a separate $100 transfer?  Were you required to mail in the signature card to get the bonus?

Funding generally does NOT count as direct deposit. I plan to find $25 from my bank and then push a DD.

[Skills Barterer]

Thanks for sharing... subscribed! 

[Roots&Wings]

thanks for posting about the $300 bofa bonus.  I just checked in with my old bofa card and it shows the offer for me.  Anyone know if DD my husbands paycheck will be OK if I open checking account in my name?

If your husband's company will do the DD to your account, I can't imagine the bank would have an issue since the transaction would still post as a DD. Maybe others will chime in who know more about spouse/joint account issues, or perhaps you can open a separate bofa account for your husband?

[Paul der Krake]

Do you have a url where to check the BoA checking bonus? I clicked around the site but nothing showed up. I have one Alaska credit card with them.

[ditkanate]

I've Direct Deposited my wages into a bank account that's solely in my wife's name with no issues.  The only time I've ever had trouble was when I tried to do a bank to bank transfer from an account solely in my name to an account solely in her name.  That one was my fault, wasn't paying attention to which accounts I was using in whose name.  Live and learn.

[Roots&Wings]

Do you have a url where to check the BoA checking bonus? I clicked around the site but nothing showed up. I have one Alaska credit card with them.

When you login to your BofA account online, it would be in the "Special Offers & Deals" header tab, fourth over to the right from your main Account tab.

[Paul der Krake]

Dammit. Not showing up for me.

[kpd905]

Funding generally does NOT count as direct deposit. I plan to find $25 from my bank and then push a DD.

Yup, do the initial $25 funding and then push $100 from somewhere else.  I have used US Bank and Venmo to push the $100 and both worked great, I had the bonus a day after the $100 cleared.

[firelight]

M&T is stating it's out of my region. Any workaround to that?


Sent from my iPhone using Tapatalk

I am out of the region as well, but it doesn't matter, just go to their site and select the EZ Choice Checking.  Put in either QC or QD as the promo code.  After your bonus posts, open up another account using the other promo code.

Didn't work for me... Asked me to come into branch since I was out of region :(

Any bonus codes for any of the other region specific bonuses?

[MasterStache]

M&T is stating it's out of my region. Any workaround to that?


Sent from my iPhone using Tapatalk

I am out of the region as well, but it doesn't matter, just go to their site and select the EZ Choice Checking.  Put in either QC or QD as the promo code.  After your bonus posts, open up another account using the other promo code.

Didn't work for me... Asked me to come into branch since I was out of region :(

Any bonus codes for any of the other region specific bonuses?

Worked for me and I am out of region as well. Thanks for the tidbit btw. If you click on a direct link you'll be forced to enter your zip code. Instead just go directly to the website and click around to find the checking and sign up that way.

[CanuckExpat]

A small advantage of being nomadic in retirement: you can hit up most of the regional offers as you move around. Requires going into branch in person, but hasn't been a problem.

Generally, being nomadic presents small headaches, but this has been a positive.

[lexde]

I'm really getting frustrated with my attempts at churning. It seems like every bonus I've tried for lately has totally failed.

PNC: I signed up in branch for $400 bonus which was properly attached to my account. Per DoC, did the 10 debit transactions and $5K transfer from PayPal. Got the email confirming "direct deposits". 30 days passed, 45 days passed (typical DP was that bonus was paid out 30-45 days after meeting requirements), I went in branch to confirm I'd met requirements, was given an emphatic "yes." 60 days passed, nothing. Was later told by a CSR that the bonus wouldn't attach because of the Paypal transfers. I'm really debating escalating this one since two CSRs told me I had met requirements. But I know that the "loophole" means I probably shouldn't pursue anything.

TD Bank: Signed up for $300 bonus which was properly attached to my account. Per DoC, did the $2500 DD/transfer from Chase. That was over 60 days ago, too.

First Tenn: TBD

M&T: TBD

I don't know if I'm doing something wrong or what. I might just have to start having my SO reroute part of his paycheck. I just want my bonuses, mannn!

[bspaggs]

I've read through this thread and hope to try for the PNC $300 bonus. Trouble is I have no direct deposit. What's the best way to get a qualifying DD? I'm guessing not paypal based on the previous poster's experience. Any suggestions? Will venmo work? Thank you!

[MasterStache]

I'm 2+ months in so far. Up to $1000 collected and $900 pending. Starting to work on accounts for my wife now. 

[lexde]

I've read through this thread and hope to try for the PNC $300 bonus. Trouble is I have no direct deposit. What's the best way to get a qualifying DD? I'm guessing not paypal based on the previous poster's experience. Any suggestions? Will venmo work? Thank you!

Not paypal apparently! But check out Doctor of Credit for what will qualify, and only look at recent data points. I looked at some that were a few months old and did my DD based on that, so the fresher data points should be more reliable.

[CanuckExpat]

Mid year check-in: Between wife and I we are at $2600 "total": $1700 received, $900 still pending pay out

Not a lot of money, but it's free and easy, and the other way of looking at is it that it covers about 10% or one month of our annual expenses in retirement so far, so not bad. (just rough ball park estimates on percentage of spending)

[firelight]

Mid year check-in: Between wife and I we are at $2600 "total": $1700 received, $900 still pending pay out

Not a lot of money, but it's free and easy, and the other way of looking at is it that it covers about 10% or one month of our annual expenses in retirement so far, so not bad. (just rough ball park estimates on percentage of spending)

I hear you! We mentally keep the bank account bonuses as screw up fund and use that amount to not worry too much if we screw up on anything. Eg: we have to break lease and pay two months rent because we misestimated our plans for summer. Cute screw up fund to cover it!! :)

[MasterStache]

Mid year check-in: Between wife and I we are at $2600 "total": $1700 received, $900 still pending pay out

Not a lot of money, but it's free and easy, and the other way of looking at is it that it covers about 10% or one month of our annual expenses in retirement so far, so not bad. (just rough ball park estimates on percentage of spending)

I hear you! We mentally keep the bank account bonuses as screw up fund and use that amount to not worry too much if we screw up on anything. Eg: we have to break lease and pay two months rent because we misestimated our plans for summer. Cute screw up fund to cover it!! :)

Good way top use it. Our is travel money dedicated for my daughters gymnastics competitions. Probably earn enough for the entire year's worth of travel.

[kpd905]

I've read through this thread and hope to try for the PNC $300 bonus. Trouble is I have no direct deposit. What's the best way to get a qualifying DD? I'm guessing not paypal based on the previous poster's experience. Any suggestions? Will venmo work? Thank you!

Discover checking ACH push worked for me.

[marshdesign]

I posted this on a facebook MMM forum but just wanted to place this in here since this is very fitting! I have 3 referral codes left!

I just got an email from BB&T. anyone into bank account churning and want to make 50 bucks with only $100 deposit? I read all the small print. You have to open a checking account and put in refer a friend code. have at least $100 into account when it is reviewed and 50 dollars will be deposited within 120 days of opening. there are some good 200 and 300 dollars bonus at other banks i am currently doing but require more tied up capital than 100 bucks, so this deal is not too shabby! no direct deposits or debit transactions to deal with. anyone interested in doing this with me? i get 50 and you get 50.

You need to be a new BB&T customer and must be checking account, not savings. I have 3 codes uses left, PM if you want one of the 3 remaining codes.

[Roots&Wings]

If anyone has an HSBC referral, I'd gladly use that.

[firelight]

I posted this on a facebook MMM forum but just wanted to place this in here since this is very fitting! I have 3 referral codes left!

I just got an email from BB&T. anyone into bank account churning and want to make 50 bucks with only $100 deposit? I read all the small print. You have to open a checking account and put in refer a friend code. have at least $100 into account when it is reviewed and 50 dollars will be deposited within 120 days of opening. there are some good 200 and 300 dollars bonus at other banks i am currently doing but require more tied up capital than 100 bucks, so this deal is not too shabby! no direct deposits or debit transactions to deal with. anyone interested in doing this with me? i get 50 and you get 50.

You need to be a new BB&T customer and must be checking account, not savings. I have 3 codes uses left, PM if you want one of the 3 remaining codes.

Is there a state restriction or is it Nationwide? If it is Nationwide, I'd be interested

[marshdesign]

There is a state restriction. Just found out which states are eligible.
limited to: AL, DC, FL, GA, IN, KY, MD, NC, NJ, OH, PA, SC, TN, TX, VA, WV

[lexde]

I'm really getting frustrated with my attempts at churning. It seems like every bonus I've tried for lately has totally failed.

PNC: I signed up in branch for $400 bonus which was properly attached to my account. Per DoC, did the 10 debit transactions and $5K transfer from PayPal. Got the email confirming "direct deposits". 30 days passed, 45 days passed (typical DP was that bonus was paid out 30-45 days after meeting requirements), I went in branch to confirm I'd met requirements, was given an emphatic "yes." 60 days passed, nothing. Was later told by a CSR that the bonus wouldn't attach because of the Paypal transfers. I'm really debating escalating this one since two CSRs told me I had met requirements. But I know that the "loophole" means I probably shouldn't pursue anything.

TD Bank: Signed up for $300 bonus which was properly attached to my account. Per DoC, did the $2500 DD/transfer from Chase. That was over 60 days ago, too.

First Tenn: TBD

M&T: TBD

I don't know if I'm doing something wrong or what. I might just have to start having my SO reroute part of his paycheck. I just want my bonuses, mannn!

As an update, called and TD Bank credited that bonus. PNC will credit too (per the CSR) but are giving me a much harder time about it. First Tenn and M&T are still TBD.

[Roots&Wings]

M&T is stating it's out of my region. Any workaround to that?


Sent from my iPhone using Tapatalk

I am out of the region as well, but it doesn't matter, just go to their site and select the EZ Choice Checking.  Put in either QC or QD as the promo code.  After your bonus posts, open up another account using the other promo code.

Hi kpd, did you have to create a second M&T account for online banking after opening the other account, or did they automatically link both accounts when you opened the other account?

I opened M&T account #2 (bonus #1 received last week, thanks!), but it's not showing up online for some reason with the first account, and can't enroll account #2 in online banking unless I setup a different username/password.

[lexde]

M&T is stating it's out of my region. Any workaround to that?


Sent from my iPhone using Tapatalk

I am out of the region as well, but it doesn't matter, just go to their site and select the EZ Choice Checking.  Put in either QC or QD as the promo code.  After your bonus posts, open up another account using the other promo code.

Hi kpd, did you have to create a second M&T account for online banking after opening the other account, or did they automatically link both accounts when you opened the other account?

I opened M&T account #2 (bonus #1 received last week, thanks!), but it's not showing up online for some reason with the first account, and can't enroll account #2 in online banking unless I setup a different username/password.

Not who you asked, but M&T updates on Sundays I think. So check back Monday and if your accounts aren't linked by then, call. I asked the same thing on Reddit and the account showed up the following Monday

[Roots&Wings]

Guess I'll have to call, thanks lexde!

[kpd905]

Mine automatically linked to my account after a few days.  I would give it a couple days before calling, not good to alert banks when you open multiple accounts with them.

[2Birds1Stone]

Just added CIT Premier and Citizens Checking to my list for another $150/$100 respectively =)

I'm up to $3,175 over the past 12 months....and this is on top of churning 6 travel reward CC's in the same time frame.

[slappy]

I posted this on a facebook MMM forum but just wanted to place this in here since this is very fitting! I have 3 referral codes left!

I just got an email from BB&T. anyone into bank account churning and want to make 50 bucks with only $100 deposit? I read all the small print. You have to open a checking account and put in refer a friend code. have at least $100 into account when it is reviewed and 50 dollars will be deposited within 120 days of opening. there are some good 200 and 300 dollars bonus at other banks i am currently doing but require more tied up capital than 100 bucks, so this deal is not too shabby! no direct deposits or debit transactions to deal with. anyone interested in doing this with me? i get 50 and you get 50.

You need to be a new BB&T customer and must be checking account, not savings. I have 3 codes uses left, PM if you want one of the 3 remaining codes.

If I'm reading correctly, your account also needs to have $100 in it at the time of review?

[TomTX]

I'm really getting frustrated with my attempts at churning. It seems like every bonus I've tried for lately has totally failed.

PNC: I signed up in branch for $400 bonus which was properly attached to my account. Per DoC, did the 10 debit transactions and $5K transfer from PayPal. Got the email confirming "direct deposits". 30 days passed, 45 days passed (typical DP was that bonus was paid out 30-45 days after meeting requirements), I went in branch to confirm I'd met requirements, was given an emphatic "yes." 60 days passed, nothing. Was later told by a CSR that the bonus wouldn't attach because of the Paypal transfers. I'm really debating escalating this one since two CSRs told me I had met requirements. But I know that the "loophole" means I probably shouldn't pursue anything.

TD Bank: Signed up for $300 bonus which was properly attached to my account. Per DoC, did the $2500 DD/transfer from Chase. That was over 60 days ago, too.

First Tenn: TBD

M&T: TBD

I don't know if I'm doing something wrong or what. I might just have to start having my SO reroute part of his paycheck. I just want my bonuses, mannn!

Consensus wisdom in the churn community is "Never Call The Bank" - you don't want human eyes on the account that you opened just for the bonus, especially with an iffy direct deposit method (usually they have text stating it needs to be a government or payroll deposit) and bare minimum on transactions.

[MasterStache]

Just added CIT Premier and Citizens Checking to my list for another $150/$100 respectively =)

I'm up to $3,175 over the past 12 months....and this is on top of churning 6 travel reward CC's in the same time frame.

Good work! So far I am up to $2300 (not all paid) bank accounts and roughly 6 CCs over just the past 3 months. Half for cash rewards and half for travel. Working on bank accounts for my wife as well. She's not fond of working on more than a couple at a time so it's a slow process for her.

[Paul der Krake]

I'm up $1750 in the last 12 months, doing this very casually.

- Suntrust checking $250
- Chase checking + savings $500
- KeyBank checking $300
- CapitalOne money market $200
- US Bank $200 (pending)
- CapitalOne checking $300 (pending)

I rarely do more than one account at a time, doing real direct deposits through work, and I basically don't bother for anything under $200, or $144 after taxes.

[marshdesign]

I posted this on a facebook MMM forum but just wanted to place this in here since this is very fitting! I have 3 referral codes left!

I just got an email from BB&T. anyone into bank account churning and want to make 50 bucks with only $100 deposit? I read all the small print. You have to open a checking account and put in refer a friend code. have at least $100 into account when it is reviewed and 50 dollars will be deposited within 120 days of opening. there are some good 200 and 300 dollars bonus at other banks i am currently doing but require more tied up capital than 100 bucks, so this deal is not too shabby! no direct deposits or debit transactions to deal with. anyone interested in doing this with me? i get 50 and you get 50.

You need to be a new BB&T customer and must be checking account, not savings. I have 3 codes uses left, PM if you want one of the 3 remaining codes.

If I'm reading correctly, your account also needs to have $100 in it at the time of review?

Slappy, that is correct, just have 100 at time of review to get the bonus. so a pretty low requirment and capital tie up. decent bank too. I have family that works in corporate. You just have to be in one of the states that they serve.

[Roots&Wings]

I rarely do more than one account at a time, doing real direct deposits through work, and I basically don't bother for anything under $200, or $144 after taxes.

Same here, but the M&T $150 bonuses were so insanely easy with a $100 external account transfer instead of changing employer deposit. With those, now at $2,125 for the year, or $1,550 after taxes.

[lexde]

How many banks actually send tax forms for bonuses at the end of the year? I only did one bonus last year for Hancock and never received a form. Still keeping funds on the side to pay taxes but am curious.


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[MasterStache]

Hmm, I transferred money from a bank known to trigger DD requirement for M&T bonus yet never received a bonus. I wonder if it's because I transferred it from savings instead of checking. I wonder why that would matter if it does. Gonna try Chase just to be safe.

[Paul der Krake]

How many banks actually send tax forms for bonuses at the end of the year? I only did one bonus last year for Hancock and never received a form. Still keeping funds on the side to pay taxes but am curious.


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Suntrust never sent me a form. Everyone else has.

[Rosy]

I'm up $1750 in the last 12 months, doing this very casually.

- Suntrust checking $250
- Chase checking + savings $500
- KeyBank checking $300
- CapitalOne money market $200
- US Bank $200 (pending)
- CapitalOne checking $300 (pending)

I rarely do more than one account at a time, doing real direct deposits through work, and I basically don't bother for anything under $200, or $144 after taxes.

Almost identical MO here:) I'm looking to do the CapitalOne MM this week unless they will not allow the $200 bonus since I already have a checking/savings accounts opened way back when they were ING.
If they don't, I'm dithering between a 2% CD - 10K for 36mo, or adding another 5K and open that Chase savings for a $200 bonus that I've been avoiding.

Mr. R. opened a Wells Fargo credit card (0% interest for 12 months and $200 bonus - 1K spend in 90 days) - nice find for us since it is his main bank and this will make things less complicated, plus we wanted a zero percent interest card for home improvement purposes.

BOA is on my radar and so is TD.

[marshdesign]

My husband and I just signed up for the wells 200 dollar card too! $400 total for just putting 1,000 on each. Easy!

[MasterStache]

My husband and I just signed up for the wells 200 dollar card too! $400 total for just putting 1,000 on each. Easy!

Check out the Chase AARP card. $200 back with $500 spend. Doesn't count for the 5/24 rule and you don't have to be an AARP member to get the card.

[NinetyFour]

Between bank bonuses and a few CC cash bonuses, I'm up $1350 so far this year.  Love Doctor of Credit.

[johnny847]

My husband and I just signed up for the wells 200 dollar card too! $400 total for just putting 1,000 on each. Easy!

Check out the Chase AARP card. $200 back with $500 spend. Doesn't count for the 5/24 rule and you don't have to be an AARP member to get the card.

Let's be clear: This card doesn't fall under 5/24, meaning the 5/24 rule doesn't apply for getting approved.

However, ANY card from ANY bank counts towards that 5 or more cards opened in the past 24 months when applying for any card that falls under 5/24, such as the Chase Sapphire Reserve.

[MasterStache]

My husband and I just signed up for the wells 200 dollar card too! $400 total for just putting 1,000 on each. Easy!

Check out the Chase AARP card. $200 back with $500 spend. Doesn't count for the 5/24 rule and you don't have to be an AARP member to get the card.

Let's be clear: This card doesn't fall under 5/24, meaning the 5/24 rule doesn't apply for getting approved.

However, ANY card from ANY bank counts towards that 5 or more cards opened in the past 24 months when applying for any card that falls under 5/24, such as the Chase Sapphire Reserve.

Oops, that's what I meant. You just stated it a bit more clear ( :

[kpd905]

However, ANY card from ANY bank counts towards that 5 or more cards opened in the past 24 months when applying for any card that falls under 5/24, such as the Chase Sapphire Reserve.

Except business cards.  At least non-Chase business cards.

[johnny847]

However, ANY card from ANY bank counts towards that 5 or more cards opened in the past 24 months when applying for any card that falls under 5/24, such as the Chase Sapphire Reserve.

Except business cards.  At least non-Chase business cards.

Oops yeah. Any personal card!

I have seen reports that Chase doesn't actualy look at Chase business cards when counting for 5/24, but ymmv

[kpd905]

I have seen reports that Chase doesn't actualy look at Chase business cards when counting for 5/24, but ymmv

Hmm, that is good to know.  I was paranoid that it would be too easy for them to have the info at their fingertips.  Maybe I'll have to get the Ink Preferred next.

[rageth]

Just looked at my spreadsheet of bank bonuses and the wife and I are up a cumulative $4000 with a few hundred pending this year so far before taxes. Got to love DoC!

[johnny847]

Just looked at my spreadsheet of bank bonuses and the wife and I are up a cumulative $4000 with a few hundred pending this year so far before taxes. Got to love DoC!

Yup! I absolutely love DoC. It's really the only churning/bonuses blog worth following imo, since he doesn't do affiliate links for credit cards or bank bonuses. (For bank bonuses he asks that they just give his readers a better bonus instead).

[MasterStache]

Just looked at my spreadsheet of bank bonuses and the wife and I are up a cumulative $4000 with a few hundred pending this year so far before taxes. Got to love DoC!

Yup! I absolutely love DoC. It's really the only churning/bonuses blog worth following imo, since he doesn't do affiliate links for credit cards or bank bonuses. (For bank bonuses he asks that they just give his readers a better bonus instead).

+1. Thanks for referring DoC. I was never really fond of many of the other travel/CC hacking websites since they have affiliated links. I think they often push cards that benefit them the most.