Author Topic: Bank account churning: how to make $1600 in a year by being organized  (Read 444528 times)

MasterStache

  • Magnum Stache
  • ******
  • Posts: 2955
Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1550 on: July 20, 2024, 07:37:52 AM »
The only business checking account I've done is Chase and I had to sit through a spiel with a banker in branch. Maybe I would be up for that in early retirement, but now how I want to spend my time off work.

I signed up online for Chase Business Checking in like 15 minutes and was instantly approved.

It's extremely difficult to open online of you are a sole proprietor for some reason. I see random sporadic DPs of online approval this way but they still won't approve P2. I have a legit LLC so opening online is a breeze for me. Chase is a bit odd this way.

jnw

  • Handlebar Stache
  • *****
  • Posts: 2059
Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1551 on: July 20, 2024, 09:07:33 AM »
I recently opened up my chase business checking as a sole proprietor with no issues.  I used an EIN but a friend of mine said he used SSN with no issues.  I do not use a DBA and am not an LLC.   I've also recently opened many chase business credit cards as sole prop with SSN only -- again no DBA nor LLC.

Btw, EIN is really easy to apply for and get from the IRS and doesn't require you to have any other employees other than yourself.  NO DBA nor LLC needed for EIN.

(I am not a tax advisor, CPA nor financial advisor.  What I share here is my opinion and for entertainment purposes only.)
« Last Edit: July 20, 2024, 09:11:58 AM by jnw »

tj

  • Handlebar Stache
  • *****
  • Posts: 2351
  • Age: 39
  • Location: Orange County CA
Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1552 on: July 20, 2024, 09:20:43 AM »
I recently opened up my chase business checking as a sole proprietor with no issues.  I used an EIN but a friend of mine said he used SSN with no issues.  I do not use a DBA and am not an LLC.   I've also recently opened many chase business credit cards as sole prop with SSN only -- again no DBA nor LLC.

Btw, EIN is really easy to apply for and get from the IRS and doesn't require you to have any other employees other than yourself.  NO DBA nor LLC needed for EIN.

(I am not a tax advisor, CPA nor financial advisor.  What I share here is my opinion and for entertainment purposes only.)

Opening the credit cards is easy. What I had to go in branch for was the checking account.

MasterStache

  • Magnum Stache
  • ******
  • Posts: 2955
Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1553 on: July 20, 2024, 11:27:48 AM »
I recently opened up my chase business checking as a sole proprietor with no issues.  I used an EIN but a friend of mine said he used SSN with no issues.  I do not use a DBA and am not an LLC.   I've also recently opened many chase business credit cards as sole prop with SSN only -- again no DBA nor LLC.

Btw, EIN is really easy to apply for and get from the IRS and doesn't require you to have any other employees other than yourself.  NO DBA nor LLC needed for EIN.

(I am not a tax advisor, CPA nor financial advisor.  What I share here is my opinion and for entertainment purposes only.)

I've opened numerous Chae Biz cards with SS and an EIN for P2 over the years. I was even able to open a Chase Biz checking initially many years ago. I wouldn't be surprised if subsequent attempts to churn the Chase biz checking as a sole proprietor with an EIN or SS require a branch visit.

sonofsven

  • Handlebar Stache
  • *****
  • Posts: 2393
Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1554 on: August 09, 2024, 09:40:23 AM »
For Washington state people, Express Credit Union is offering a 9% CD on up to $5,000
Must be opened TODAY, August 9, as part of their 90th birthday celebration
Not sure if it's open to out of state, sometimes CU membership is open to those who live, work, or worship in WA state, or have family in WA state, which I have, so I've been able to join a few CU's even though I am out of state.
I haven't  tried to apply yet, thought I would post this quickly for others.

ETA: it looks like you can open the account on any 9th of the month, until December, and get a 9% CD
« Last Edit: August 09, 2024, 11:27:32 AM by sonofsven »

sonofsven

  • Handlebar Stache
  • *****
  • Posts: 2393
Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1555 on: August 19, 2024, 12:22:09 PM »
Open a Chime checking account through InBoxDollars (similar to Swagbucks and MyPoints), make two direct deposits of $200 each (I used Fidelity) and receive $415 bonus.
Details here:

https://www.doctorofcredit.com/chime-earn-10000-swagbucks-for-opening-a-new-account-receiving-a-direct-deposit/#comment-1895463

Additionally, open with my referral link at Chime and we'll each get $100.
PM me for the link

kindoflost

  • 5 O'Clock Shadow
  • *
  • Posts: 37
  • Age: 56
  • Location: Kansas
  • always trying to learn
    • tradelines information for sellers
Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1556 on: August 20, 2024, 07:11:16 AM »
Open a Chime checking account through InBoxDollars (similar to Swagbucks and MyPoints), make two direct deposits of $200 each (I used Fidelity) and receive $415 bonus.
Details here:

https://www.doctorofcredit.com/chime-earn-10000-swagbucks-for-opening-a-new-account-receiving-a-direct-deposit/#comment-1895463

Additionally, open with my referral link at Chime and we'll each get $100.
PM me for the link

hey! fidelity how? brokerage? because I have a checking with fidelity (that I opened for a bonus) but I guess it doesn't count as DD. thanks!

sonofsven

  • Handlebar Stache
  • *****
  • Posts: 2393
Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1557 on: August 20, 2024, 08:24:37 AM »
Open a Chime checking account through InBoxDollars (similar to Swagbucks and MyPoints), make two direct deposits of $200 each (I used Fidelity) and receive $415 bonus.
Details here:

https://www.doctorofcredit.com/chime-earn-10000-swagbucks-for-opening-a-new-account-receiving-a-direct-deposit/#comment-1895463

Additionally, open with my referral link at Chime and we'll each get $100.
PM me for the link

hey! fidelity how? brokerage? because I have a checking with fidelity (that I opened for a bonus) but I guess it doesn't count as DD. thanks!

Not brokerage, a Fidelity Cash Management Account. I transfer money into it from my hub high interest savings account. The Fidelity CMA has proven successful as a fake DD for a number of bonuses.

kindoflost

  • 5 O'Clock Shadow
  • *
  • Posts: 37
  • Age: 56
  • Location: Kansas
  • always trying to learn
    • tradelines information for sellers
Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1558 on: August 20, 2024, 11:20:47 AM »
Open a Chime checking account through InBoxDollars (similar to Swagbucks and MyPoints), make two direct deposits of $200 each (I used Fidelity) and receive $415 bonus.
Details here:

https://www.doctorofcredit.com/chime-earn-10000-swagbucks-for-opening-a-new-account-receiving-a-direct-deposit/#comment-1895463

Additionally, open with my referral link at Chime and we'll each get $100.
PM me for the link

hey! fidelity how? brokerage? because I have a checking with fidelity (that I opened for a bonus) but I guess it doesn't count as DD. thanks!

Not brokerage, a Fidelity Cash Management Account. I transfer money into it from my hub high interest savings account. The Fidelity CMA has proven successful as a fake DD for a number of bonuses.

that's what I have! thanks!

sonofsven

  • Handlebar Stache
  • *****
  • Posts: 2393
Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1559 on: August 24, 2024, 03:08:18 PM »
There's a good Chase Ink Preferred business card offer right now that's ending soon, 120,000 points after $8k spend, that's only good til Sept 5, although my partner got a targeted offer good til September 30.
This card has a $95 yearly fee and it does not have a 0% rate for 12 months.
According to Doctor Of Credit, starting August 25 the Chase Ink Unlimited will be a 90,000 point offer on $6k spend.
The Unlimited is 0% for 12 months and has no yearly fee, so it might be the better option.
Also, through Sept 2, there is a 40,000 point referral. So if you have two players you can take advantage (if you want to use my referral link, PM me; there's nothing in it for you, however, just me).
The only caveat is the referral link for the Preferred is for 100,000 points, not 120,000. But posters on DoC have had success calling Chase to match the 120k offer after using the 100k referral link.
Also, the Ink business cards do not count towards your 5/24 stats, but if you are at 5/24 or higher you will likely be declined.

Padonak

  • Handlebar Stache
  • *****
  • Posts: 1074
Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1560 on: October 03, 2024, 11:56:05 AM »
I have a question about funding new bank accounts with credit cards.

For example, here is a new USBank business account offer: $400/$900 Business Checking Bonus depending on which account you open.
https://www.doctorofcredit.com/u-s-bank-400-900-business-checking-bonus/

It says there is an option to fund up to $3k with a credit card. What does it mean exactly? Is it really up to 3K, coded as a purchase? Who pays the credit card transaction fee? The data points on DoC show that many types of cards code it as purchases.

A more general question: how often do you use credit card funding to get bank account bonuses and credit card sign up bonuses at the same time? How often does it work as intended? What happens if it's coded as a cash withdrawal?

AnotherEngineer

  • Stubble
  • **
  • Posts: 199
  • Location: NC
  • MMM reader since '11, forum stalker since '15
Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1561 on: October 03, 2024, 12:40:10 PM »
I have never funded a bank with a credit card as there are limitations and they often get coded as a cash advance which can be quite the finance charge. I don't believe there is a way to know in advance, so it seems folks put their cash advance limit down to $1 and give it a go and report their findings. Could be worth a shot, but I'm not that hard pressed to find spending.

ChipChingChang

  • 5 O'Clock Shadow
  • *
  • Posts: 9
Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1562 on: October 03, 2024, 03:57:55 PM »
hey guys i signed up because of the piggypacking of credit cards thread on the forum. i've been churning quite a while and never knew about the money making potential of piggybacking. but churning is like my core credit card activity.

my question is i really wanna subscribe to this churning thread. if i hit the notify button at the bottom of the page will it send me emails when new replies are made on this topic? or will i only get a notification once i login to the forum? hoping to be able to receive emails.

sonofsven

  • Handlebar Stache
  • *****
  • Posts: 2393
Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1563 on: October 03, 2024, 05:04:47 PM »
I have a question about funding new bank accounts with credit cards.

For example, here is a new USBank business account offer: $400/$900 Business Checking Bonus depending on which account you open.
https://www.doctorofcredit.com/u-s-bank-400-900-business-checking-bonus/

It says there is an option to fund up to $3k with a credit card. What does it mean exactly? Is it really up to 3K, coded as a purchase? Who pays the credit card transaction fee? The data points on DoC show that many types of cards code it as purchases.

A more general question: how often do you use credit card funding to get bank account bonuses and credit card sign up bonuses at the same time? How often does it work as intended? What happens if it's coded as a cash withdrawal?

It means when you are nearing the end of the application on your new bank account you are given the option of funding your new account now, or later. As far as I know, it is never an option to fund later with a credit card. So if you choose to fund now, you can often use either a debit card or a credit card. My experience is that it only works online, not in branch or through customer service phone reps (although it may work in some cases, this is just my experience, as I said). I've had a CSR tell me I can't fund with a cc, even though the terms online say I can, so I've said, politely, thanks, I'll finish up online, and the cc funding has worked perfectly.

I was hesitant at first, but I've done it multiple times now successfully and have not been hit with a cash advance, nor have I had to pay a transaction fee. My legit business spend has evaporated so I needed to find a new source of spend to take advantage of the cc bonuses.

The key is to do as much research as possible on DOC before trying it, both in the posts, but especially in the comments.

For example, when using US Bank business cc's, you want to raise your CA to the max: the max in this case being 25% of your available credit, which is the opposite of many cards where you want to lower your CA. Then you want to fund just under you CA max. Again, this is just for USB business cards, as far as I know. I used both a Leverage and a Triple Cash recently to fund bank account openings, both times the funding was enough to completely cover the cc spend requirements for the bonuses. I always use the cc a few times first for basic grocery purchases, or whatever.

It's made me up my game, so to speak, and I started closing older cards to keep my credit limit high on my new card applications. I've also been making a list of possible bank accounts to open that allow cc funding. Many of them are smaller credit unions, and often you can open a checking account and fund it with $5k from a cc (the best one I've found is $10k, which is why it's key to  keep your credit limit high). Then you can open a savings account, and sometimes another savings account, and fund with a cc each time.

It's ideal if the cc is a 12 month no interest card, then you can just leave the $10k charge on the cc, make minimum monthly payments for a year, and move the $10k from the initial bank account to one that pays 5% interest for a year, then use that to pay off the cc when due.

Or you can use that vaporware cash to fund other bank accounts for sign up bonuses, which is what I'm doing, since it's more lucrative than 5% interest.

If the cc funding does code as a cash advance, obviously you want to pay that card off ASAP. It helps if you have the funds not tied up to do so, if not you'll need to set up payment from your recently funded new bank account, or transfer to your hub account and pay off the cc from there.

The cc funding is really separate from the bank bonuses in my mind. The bank bonuses often need direct deposits, real or fake, and sometimes a certain number of transactions per month before you get the bonus a few months later. The cc funding when you are opening a bank account for a bonus is just an extra $$. I open bank accounts now that don't offer a bonus just for the cc funding because otherwise I could never generate enough spend to take advantage of the more lucrative cc bonuses.
I'm also keeping my Chex locked when applying for smaller bank bonuses because I don't want to jeopardize my ability to open a bank account when needed for cc funding.

It's also nice to keep a 2% credit card available for funding if you are not working on spend for a cc bonus. In your $3k US Bank checking account example above, 2% of $3k is an extra $60. Not huge, but it is free.

tj

  • Handlebar Stache
  • *****
  • Posts: 2351
  • Age: 39
  • Location: Orange County CA
Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1564 on: October 03, 2024, 06:38:27 PM »
I have a question about funding new bank accounts with credit cards.

For example, here is a new USBank business account offer: $400/$900 Business Checking Bonus depending on which account you open.
https://www.doctorofcredit.com/u-s-bank-400-900-business-checking-bonus/

It says there is an option to fund up to $3k with a credit card. What does it mean exactly? Is it really up to 3K, coded as a purchase? Who pays the credit card transaction fee? The data points on DoC show that many types of cards code it as purchases.

A more general question: how often do you use credit card funding to get bank account bonuses and credit card sign up bonuses at the same time? How often does it work as intended? What happens if it's coded as a cash withdrawal?

As much as possible.  I've never been coded as a cash advance.

See this helpful post that a forum user created:

https://cashbackcow.io/bank-accounts-with-1000-credit-card-funding


Not sure if US Bank still takes CCs or not.  The CC funding sometimes dries up, or as in the case of BluPeak it disappeared and then randomly came back.

No idea why banks are willing to pay credit card fees for deposits, but they do.

I follow the DoC posts to see if anybody has been charged a cash advance.

I've used Chase, Bank of America and CapitalOne to "purchase" bank deposits. I would assume that if you use a bank's CC to open a deposit account at the same bank that that wouldn't fly.

Citi was notorious for coding as cash advance a decade ago, but data points of more recent times suggest that's no longer the case.

tj

  • Handlebar Stache
  • *****
  • Posts: 2351
  • Age: 39
  • Location: Orange County CA
Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1565 on: October 03, 2024, 06:41:38 PM »
I have a question about funding new bank accounts with credit cards.

For example, here is a new USBank business account offer: $400/$900 Business Checking Bonus depending on which account you open.
https://www.doctorofcredit.com/u-s-bank-400-900-business-checking-bonus/

It says there is an option to fund up to $3k with a credit card. What does it mean exactly? Is it really up to 3K, coded as a purchase? Who pays the credit card transaction fee? The data points on DoC show that many types of cards code it as purchases.

A more general question: how often do you use credit card funding to get bank account bonuses and credit card sign up bonuses at the same time? How often does it work as intended? What happens if it's coded as a cash withdrawal?

It means when you are nearing the end of the application on your new bank account you are given the option of funding your new account now, or later. As far as I know, it is never an option to fund later with a credit card. So if you choose to fund now, you can often use either a debit card or a credit card. My experience is that it only works online, not in branch or through customer service phone reps (although it may work in some cases, this is just my experience, as I said). I've had a CSR tell me I can't fund with a cc, even though the terms online say I can, so I've said, politely, thanks, I'll finish up online, and the cc funding has worked perfectly.

I was hesitant at first, but I've done it multiple times now successfully and have not been hit with a cash advance, nor have I had to pay a transaction fee. My legit business spend has evaporated so I needed to find a new source of spend to take advantage of the cc bonuses.

The key is to do as much research as possible on DOC before trying it, both in the posts, but especially in the comments.

For example, when using US Bank business cc's, you want to raise your CA to the max: the max in this case being 25% of your available credit, which is the opposite of many cards where you want to lower your CA. Then you want to fund just under you CA max. Again, this is just for USB business cards, as far as I know. I used both a Leverage and a Triple Cash recently to fund bank account openings, both times the funding was enough to completely cover the cc spend requirements for the bonuses. I always use the cc a few times first for basic grocery purchases, or whatever.

It's made me up my game, so to speak, and I started closing older cards to keep my credit limit high on my new card applications. I've also been making a list of possible bank accounts to open that allow cc funding. Many of them are smaller credit unions, and often you can open a checking account and fund it with $5k from a cc (the best one I've found is $10k, which is why it's key to  keep your credit limit high). Then you can open a savings account, and sometimes another savings account, and fund with a cc each time.

It's ideal if the cc is a 12 month no interest card, then you can just leave the $10k charge on the cc, make minimum monthly payments for a year, and move the $10k from the initial bank account to one that pays 5% interest for a year, then use that to pay off the cc when due.

Or you can use that vaporware cash to fund other bank accounts for sign up bonuses, which is what I'm doing, since it's more lucrative than 5% interest.

If the cc funding does code as a cash advance, obviously you want to pay that card off ASAP. It helps if you have the funds not tied up to do so, if not you'll need to set up payment from your recently funded new bank account, or transfer to your hub account and pay off the cc from there.

The cc funding is really separate from the bank bonuses in my mind. The bank bonuses often need direct deposits, real or fake, and sometimes a certain number of transactions per month before you get the bonus a few months later. The cc funding when you are opening a bank account for a bonus is just an extra $$. I open bank accounts now that don't offer a bonus just for the cc funding because otherwise I could never generate enough spend to take advantage of the more lucrative cc bonuses.
I'm also keeping my Chex locked when applying for smaller bank bonuses because I don't want to jeopardize my ability to open a bank account when needed for cc funding.

It's also nice to keep a 2% credit card available for funding if you are not working on spend for a cc bonus. In your $3k US Bank checking account example above, 2% of $3k is an extra $60. Not huge, but it is free.

Why are you increasing cash advance on US Bank? Wouldn't you want to decrease it so that your "purchase" doesn't accidentally get coded as a cash advance and the transaction gets rejected for being over the cash advance limit?

sonofsven

  • Handlebar Stache
  • *****
  • Posts: 2393
Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1566 on: October 04, 2024, 05:43:47 AM »
I have a question about funding new bank accounts with credit cards.

For example, here is a new USBank business account offer: $400/$900 Business Checking Bonus depending on which account you open.
https://www.doctorofcredit.com/u-s-bank-400-900-business-checking-bonus/

It says there is an option to fund up to $3k with a credit card. What does it mean exactly? Is it really up to 3K, coded as a purchase? Who pays the credit card transaction fee? The data points on DoC show that many types of cards code it as purchases.

A more general question: how often do you use credit card funding to get bank account bonuses and credit card sign up bonuses at the same time? How often does it work as intended? What happens if it's coded as a cash withdrawal?

It means when you are nearing the end of the application on your new bank account you are given the option of funding your new account now, or later. As far as I know, it is never an option to fund later with a credit card. So if you choose to fund now, you can often use either a debit card or a credit card. My experience is that it only works online, not in branch or through customer service phone reps (although it may work in some cases, this is just my experience, as I said). I've had a CSR tell me I can't fund with a cc, even though the terms online say I can, so I've said, politely, thanks, I'll finish up online, and the cc funding has worked perfectly.

I was hesitant at first, but I've done it multiple times now successfully and have not been hit with a cash advance, nor have I had to pay a transaction fee. My legit business spend has evaporated so I needed to find a new source of spend to take advantage of the cc bonuses.

The key is to do as much research as possible on DOC before trying it, both in the posts, but especially in the comments.

For example, when using US Bank business cc's, you want to raise your CA to the max: the max in this case being 25% of your available credit, which is the opposite of many cards where you want to lower your CA. Then you want to fund just under you CA max. Again, this is just for USB business cards, as far as I know. I used both a Leverage and a Triple Cash recently to fund bank account openings, both times the funding was enough to completely cover the cc spend requirements for the bonuses. I always use the cc a few times first for basic grocery purchases, or whatever.

It's made me up my game, so to speak, and I started closing older cards to keep my credit limit high on my new card applications. I've also been making a list of possible bank accounts to open that allow cc funding. Many of them are smaller credit unions, and often you can open a checking account and fund it with $5k from a cc (the best one I've found is $10k, which is why it's key to  keep your credit limit high). Then you can open a savings account, and sometimes another savings account, and fund with a cc each time.

It's ideal if the cc is a 12 month no interest card, then you can just leave the $10k charge on the cc, make minimum monthly payments for a year, and move the $10k from the initial bank account to one that pays 5% interest for a year, then use that to pay off the cc when due.

Or you can use that vaporware cash to fund other bank accounts for sign up bonuses, which is what I'm doing, since it's more lucrative than 5% interest.

If the cc funding does code as a cash advance, obviously you want to pay that card off ASAP. It helps if you have the funds not tied up to do so, if not you'll need to set up payment from your recently funded new bank account, or transfer to your hub account and pay off the cc from there.

The cc funding is really separate from the bank bonuses in my mind. The bank bonuses often need direct deposits, real or fake, and sometimes a certain number of transactions per month before you get the bonus a few months later. The cc funding when you are opening a bank account for a bonus is just an extra $$. I open bank accounts now that don't offer a bonus just for the cc funding because otherwise I could never generate enough spend to take advantage of the more lucrative cc bonuses.
I'm also keeping my Chex locked when applying for smaller bank bonuses because I don't want to jeopardize my ability to open a bank account when needed for cc funding.

It's also nice to keep a 2% credit card available for funding if you are not working on spend for a cc bonus. In your $3k US Bank checking account example above, 2% of $3k is an extra $60. Not huge, but it is free.

Why are you increasing cash advance on US Bank? Wouldn't you want to decrease it so that your "purchase" doesn't accidentally get coded as a cash advance and the transaction gets rejected for being over the cash advance limit?
Because that's how you make it work. First it codes as a CA, then it changes to a purchase. This is specifically for US Bank business cards, as far as I know, but without that max CA limit the transaction is declined.
I didn't figure this out on my own, I learned how to do it from DOC comments, but it does work.

kpd905

  • Handlebar Stache
  • *****
  • Posts: 2040
Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1567 on: October 04, 2024, 07:04:45 PM »
I've used my Citi Double cash card to fund tons of bank accounts, and I've never paid a cash advance fee.

Padonak

  • Handlebar Stache
  • *****
  • Posts: 1074
Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1568 on: October 06, 2024, 09:26:10 PM »
I am considering this deal:

https://www.doctorofcredit.com/sofi-checking-5000-direct-deposit-required/

SoFi Checking & Savings $655 Signup Bonus via Rakuten App for 5K Direct deposit

Question:
I have a personal Wise account which i would like to use to spoof a DD. Has anyone tried using Wise with SoFi or other banks? How exactly does it work? Do you transfer money from another bank acct to your Wise USD account first, then push a DD from wise to SoFi?

Another option is to use my personal Wells Fargo account for DD but there are only two old data points about that on DoC, one says it worked the other says it didnt


tj

  • Handlebar Stache
  • *****
  • Posts: 2351
  • Age: 39
  • Location: Orange County CA
Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1569 on: October 06, 2024, 09:33:55 PM »
I am considering this deal:

https://www.doctorofcredit.com/sofi-checking-5000-direct-deposit-required/

SoFi Checking & Savings $655 Signup Bonus via Rakuten App for 5K Direct deposit

Question:
I have a personal Wise account which i would like to use to spoof a DD. Has anyone tried using Wise with SoFi or other banks? How exactly does it work? Do you transfer money from another bank acct to your Wise USD account first, then push a DD from wise to SoFi?

Another option is to use my personal Wells Fargo account for DD but there are only two old data points about that on DoC, one says it worked the other says it didnt

Check the comment section in the link you just posted. Search for "Wise".


I tend to use Fidelity or Schwab - I don't remember who I used for Sofi - I did that one a few years ago and they are once per lifetime.
« Last Edit: October 06, 2024, 09:59:12 PM by tj »

MasterStache

  • Magnum Stache
  • ******
  • Posts: 2955
Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1570 on: October 09, 2024, 01:33:37 PM »
FWIW, I mostly use funding bank accounts now to hit the minimum spend for SUBs. I'll open the occassional CD as well if it allows CC funding.

tj

  • Handlebar Stache
  • *****
  • Posts: 2351
  • Age: 39
  • Location: Orange County CA
Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1571 on: October 09, 2024, 04:47:35 PM »
FWIW, I mostly use funding bank accounts now to hit the minimum spend for SUBs. I'll open the occassional CD as well if it allows CC funding.

You find enough opportunities to do that?

Padonak

  • Handlebar Stache
  • *****
  • Posts: 1074
Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1572 on: October 09, 2024, 06:58:19 PM »
FWIW, I mostly use funding bank accounts now to hit the minimum spend for SUBs. I'll open the occassional CD as well if it allows CC funding.

How do you find those bank accounts?
Realistically, what kind of SUB requirements can you meet just through bank account funding? For example, 6K in 90 days? 10k?

tj

  • Handlebar Stache
  • *****
  • Posts: 2351
  • Age: 39
  • Location: Orange County CA
Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1573 on: October 09, 2024, 10:13:00 PM »
FWIW, I mostly use funding bank accounts now to hit the minimum spend for SUBs. I'll open the occassional CD as well if it allows CC funding.

How do you find those bank accounts?
Realistically, what kind of SUB requirements can you meet just through bank account funding? For example, 6K in 90 days? 10k?

I think I did something like $11,000  in funded bank accounts or CDs for bonuses throughout 2024. That spend went towards $6k on a Chase Ink (January) , $4k on C1 Venture (April), $4k on C1 Venture X (July)

I read DoC, but this resource from a forum member more or less consolidated all the information:
https://cashbackcow.io/bank-accounts-with-1000-credit-card-funding/


MasterStache

  • Magnum Stache
  • ******
  • Posts: 2955
Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1574 on: October 10, 2024, 04:02:04 AM »
FWIW, I mostly use funding bank accounts now to hit the minimum spend for SUBs. I'll open the occassional CD as well if it allows CC funding.

You find enough opportunities to do that?

I do with a combination of checking, savings and CDs. The CDs I typically try to reserve for something like a 0% APR card for 12 months or so.

MasterStache

  • Magnum Stache
  • ******
  • Posts: 2955
Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1575 on: October 10, 2024, 04:13:38 AM »
FWIW, I mostly use funding bank accounts now to hit the minimum spend for SUBs. I'll open the occassional CD as well if it allows CC funding.

How do you find those bank accounts?
Realistically, what kind of SUB requirements can you meet just through bank account funding? For example, 6K in 90 days? 10k?

I just find them on DoC. If the card is a 0% card for a few months I can meet 6K pretty easy. I typically don't have more than one card I'm trying to get the SUB for open at any given time. So, I open maybe 3-4 new biz cards every year and 1 or 2 personal cards (I like to stay under 5/24). Although looking at my records I did open 5 new business cards this year as I just got approved for a WF biz card about a week ago. 

Sometimes it's all about timing as well. For instance I knew I was going to be opening a US Bank Biz checking account earlier this year and you can fund the checking with $3K using a CC. You can also open the savings for another $3K in CC funding. That knocked out the spending for a Chase Ink Card I just opened. 

alohaKane

  • 5 O'Clock Shadow
  • *
  • Posts: 34
  • Age: 38
  • Location: New Yok
Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1576 on: October 10, 2024, 05:40:51 AM »
took me awhile to get on this. But i gotta say, I'm liking this side hustle ;p

Started in April and so far collected 1900! Seven banks so far and I'm on my 8th. Could've been 9 but got a little side tracked. And that's with a few referral bonuses.

Not bad to cover my Thailand trip next month.

So i haven't really closed any account yet. I know it should be on the fine print but when do you guys usually close your accounts after receiving the bonus?

AnotherEngineer

  • Stubble
  • **
  • Posts: 199
  • Location: NC
  • MMM reader since '11, forum stalker since '15
Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1577 on: October 10, 2024, 05:56:13 AM »
took me awhile to get on this. But i gotta say, I'm liking this side hustle ;p

Started in April and so far collected 1900! Seven banks so far and I'm on my 8th. Could've been 9 but got a little side tracked. And that's with a few referral bonuses.

Not bad to cover my Thailand trip next month.

So i haven't really closed any account yet. I know it should be on the fine print but when do you guys usually close your accounts after receiving the bonus?

I do, yes. The funding or DD amount to keep avoiding the monthly fee is a hassle and unproductive money.

MasterStache

  • Magnum Stache
  • ******
  • Posts: 2955
Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1578 on: October 10, 2024, 06:17:54 AM »
took me awhile to get on this. But i gotta say, I'm liking this side hustle ;p

Started in April and so far collected 1900! Seven banks so far and I'm on my 8th. Could've been 9 but got a little side tracked. And that's with a few referral bonuses.

Not bad to cover my Thailand trip next month.

So i haven't really closed any account yet. I know it should be on the fine print but when do you guys usually close your accounts after receiving the bonus?

Really depends. Some accounts have an early account termination fee so always pay attention to that. I'm personally not a huge fan of closing accounts right away. I tend to try and go at least another statement or 2 before closing.

I had an issue trying to open a Huntington account last year and kept getting denied. I've already churned Huntington 6 times. So I waited and was finally approved for another account again this year nearly 1.5 years from the last account closure. I'm making sure I use the account and will likely keep it open for longer than normal. Just trying to avoid getting blacklisted permanently. Ha! 

Padonak

  • Handlebar Stache
  • *****
  • Posts: 1074
Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1579 on: October 10, 2024, 01:34:50 PM »
FWIW, I mostly use funding bank accounts now to hit the minimum spend for SUBs. I'll open the occassional CD as well if it allows CC funding.

How do you find those bank accounts?
Realistically, what kind of SUB requirements can you meet just through bank account funding? For example, 6K in 90 days? 10k?

I just find them on DoC. If the card is a 0% card for a few months I can meet 6K pretty easy. I typically don't have more than one card I'm trying to get the SUB for open at any given time. So, I open maybe 3-4 new biz cards every year and 1 or 2 personal cards (I like to stay under 5/24). Although looking at my records I did open 5 new business cards this year as I just got approved for a WF biz card about a week ago. 

Sometimes it's all about timing as well. For instance I knew I was going to be opening a US Bank Biz checking account earlier this year and you can fund the checking with $3K using a CC. You can also open the savings for another $3K in CC funding. That knocked out the spending for a Chase Ink Card I just opened.

Can Amex cards be used for funding bank accounts?

secondcor521

  • Walrus Stache
  • *******
  • Posts: 5843
  • Age: 55
  • Location: Boise, Idaho
  • Big cattle, no hat.
    • Age of Eon - Overwatch player videos
Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1580 on: October 10, 2024, 02:01:23 PM »
So i haven't really closed any account yet. I know it should be on the fine print but when do you guys usually close your accounts after receiving the bonus?

I haven't done this in a while, but for all the ones I did the requirement was always keep the account open six months (regardless of when I actually received the bonus).  I would usually do six months plus a few days just to be safe and ensure the bonus didn't get clawed back.

MasterStache

  • Magnum Stache
  • ******
  • Posts: 2955
Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1581 on: October 10, 2024, 05:48:57 PM »
FWIW, I mostly use funding bank accounts now to hit the minimum spend for SUBs. I'll open the occassional CD as well if it allows CC funding.

How do you find those bank accounts?
Realistically, what kind of SUB requirements can you meet just through bank account funding? For example, 6K in 90 days? 10k?

I just find them on DoC. If the card is a 0% card for a few months I can meet 6K pretty easy. I typically don't have more than one card I'm trying to get the SUB for open at any given time. So, I open maybe 3-4 new biz cards every year and 1 or 2 personal cards (I like to stay under 5/24). Although looking at my records I did open 5 new business cards this year as I just got approved for a WF biz card about a week ago. 

Sometimes it's all about timing as well. For instance I knew I was going to be opening a US Bank Biz checking account earlier this year and you can fund the checking with $3K using a CC. You can also open the savings for another $3K in CC funding. That knocked out the spending for a Chase Ink Card I just opened.

Can Amex cards be used for funding bank accounts?

I have never funded an account with Amex so I couldn't tell ya. From the DPs I've seen on DoC it seems very difficult to find bank accounts that can be funded with Amex.

tj

  • Handlebar Stache
  • *****
  • Posts: 2351
  • Age: 39
  • Location: Orange County CA
Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1582 on: October 10, 2024, 06:26:16 PM »
So i haven't really closed any account yet. I know it should be on the fine print but when do you guys usually close your accounts after receiving the bonus?

I haven't done this in a while, but for all the ones I did the requirement was always keep the account open six months (regardless of when I actually received the bonus).  I would usually do six months plus a few days just to be safe and ensure the bonus didn't get clawed back.

They don't all have a 6 month requirement, but it's not a bad practice. May not be necessary on the ones who don't require it though.

secondcor521

  • Walrus Stache
  • *******
  • Posts: 5843
  • Age: 55
  • Location: Boise, Idaho
  • Big cattle, no hat.
    • Age of Eon - Overwatch player videos
Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1583 on: October 10, 2024, 06:38:43 PM »
So i haven't really closed any account yet. I know it should be on the fine print but when do you guys usually close your accounts after receiving the bonus?

I haven't done this in a while, but for all the ones I did the requirement was always keep the account open six months (regardless of when I actually received the bonus).  I would usually do six months plus a few days just to be safe and ensure the bonus didn't get clawed back.

They don't all have a 6 month requirement, but it's not a bad practice. May not be necessary on the ones who don't require it though.

Probably true.  I suppose to be more accurate, I should have said that for all the bank bonuses I did that had claw back periods, they were all six months.  There may have been some that didn't have a claw back period at all.  And obviously banks might have different time requirements.

The general rule that I followed was (a) read the fine print and figure out when the account could be closed, then (b) wait for that date plus a few days, then (c) close the account.

Padonak

  • Handlebar Stache
  • *****
  • Posts: 1074
Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1584 on: October 10, 2024, 09:05:37 PM »
https://www.doctorofcredit.com/amazon-get-40-off-amazon-when-using-1-u-s-bank-max-15-savings/
Amazon: Get 50% Off Amazon when Using 1 U.S. Bank (Max $50 Discount)
I just bought a $100 Airbnb e-gift card and received a $50 discount for using USBank Altitude Reserve points. First it didn't show at check-out, then i changed the pmt method to another card, then back to USBAR and clicked on "use points". I used like $5 worth of points but you can try as little as one point.

there are also similar promotions for Amex and Discover points according to the latest blog post from https://milesearnandburn.com/
« Last Edit: October 10, 2024, 09:09:31 PM by Padonak »

Padonak

  • Handlebar Stache
  • *****
  • Posts: 1074
Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1585 on: October 14, 2024, 01:09:17 PM »
Any thoughts about this Robinhood promo?
Robinhood HOOD Week (10/16 – 10/27) (2% Brokerage Bonus, 3% IRA Match)
https://www.doctorofcredit.com/robinhood-hood-week-10-16-10-27-2-brokerage-bonus-3-ira-match/

Looks like a pretty good offer for IRA.

I have IRA accounts with Vanguard and Fidelity but most of my investments in those accounts are in Fidelity/Vanguard proprietary funds like FZROX for F and VTSAX for VG, so can't transfer them directly to Robinhood.
There are also many complaints about RH, like some people on DoC couldn't get bonuses for similar previous promotions. Someone in the past also mentioned issues with cost basis tracking.
« Last Edit: October 14, 2024, 01:12:21 PM by Padonak »

tj

  • Handlebar Stache
  • *****
  • Posts: 2351
  • Age: 39
  • Location: Orange County CA
Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1586 on: October 14, 2024, 01:20:16 PM »
Any thoughts about this Robinhood promo?
Robinhood HOOD Week (10/16 – 10/27) (2% Brokerage Bonus, 3% IRA Match)
https://www.doctorofcredit.com/robinhood-hood-week-10-16-10-27-2-brokerage-bonus-3-ira-match/

Looks like a pretty good offer for IRA.

I have IRA accounts with Vanguard and Fidelity but most of my investments in those accounts are in Fidelity/Vanguard proprietary funds like FZROX for F and VTSAX for VG, so can't transfer them directly to Robinhood.
There are also many complaints about RH, like some people on DoC couldn't get bonuses for similar previous promotions. Someone in the past also mentioned issues with cost basis tracking.

The RH IRA offer is similar to the one form 6 months ago that some of us did.

There is no cost basis in IRAs.

VTSAX is not a proprietary Vanguard fund, but you can always convert it to VTI.

FZROX can only be held at Fidelity, but its an IRA so you can trade it for something else if you so desire.

I never heard of people not getting the bonus. My bonus showed up instantly.

Padonak

  • Handlebar Stache
  • *****
  • Posts: 1074
Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1587 on: October 14, 2024, 01:42:34 PM »
Any thoughts about this Robinhood promo?
Robinhood HOOD Week (10/16 – 10/27) (2% Brokerage Bonus, 3% IRA Match)
https://www.doctorofcredit.com/robinhood-hood-week-10-16-10-27-2-brokerage-bonus-3-ira-match/

Looks like a pretty good offer for IRA.

I have IRA accounts with Vanguard and Fidelity but most of my investments in those accounts are in Fidelity/Vanguard proprietary funds like FZROX for F and VTSAX for VG, so can't transfer them directly to Robinhood.
There are also many complaints about RH, like some people on DoC couldn't get bonuses for similar previous promotions. Someone in the past also mentioned issues with cost basis tracking.

The RH IRA offer is similar to the one form 6 months ago that some of us did.

There is no cost basis in IRAs.

VTSAX is not a proprietary Vanguard fund, but you can always convert it to VTI.

FZROX can only be held at Fidelity, but its an IRA so you can trade it for something else if you so desire.

I never heard of people not getting the bonus. My bonus showed up instantly.

That's good to know. I might convert VG funds to ETFs then. You have to keep the funds with RH for 5 years, correct?

Do you know if there are any potential issues with converting IRA to ROTH IRA with RH? With the cost basis or otherwise.



tj

  • Handlebar Stache
  • *****
  • Posts: 2351
  • Age: 39
  • Location: Orange County CA
Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1588 on: October 14, 2024, 01:47:12 PM »
Any thoughts about this Robinhood promo?
Robinhood HOOD Week (10/16 – 10/27) (2% Brokerage Bonus, 3% IRA Match)
https://www.doctorofcredit.com/robinhood-hood-week-10-16-10-27-2-brokerage-bonus-3-ira-match/

Looks like a pretty good offer for IRA.

I have IRA accounts with Vanguard and Fidelity but most of my investments in those accounts are in Fidelity/Vanguard proprietary funds like FZROX for F and VTSAX for VG, so can't transfer them directly to Robinhood.
There are also many complaints about RH, like some people on DoC couldn't get bonuses for similar previous promotions. Someone in the past also mentioned issues with cost basis tracking.

The RH IRA offer is similar to the one form 6 months ago that some of us did.

There is no cost basis in IRAs.

VTSAX is not a proprietary Vanguard fund, but you can always convert it to VTI.

FZROX can only be held at Fidelity, but its an IRA so you can trade it for something else if you so desire.

I never heard of people not getting the bonus. My bonus showed up instantly.

That's good to know. I might convert VG funds to ETFs then. You have to keep the funds with RH for 5 years, correct?

Do you know if there are any potential issues with converting IRA to ROTH IRA with RH? With the cost basis or otherwise.


I would not touch this deal if I planned to do conversions on the transferred funds.

Only transfer funds that you don't plan on distributing (which would include conversions) within the 5 year period.

tj

  • Handlebar Stache
  • *****
  • Posts: 2351
  • Age: 39
  • Location: Orange County CA
Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1589 on: November 02, 2024, 10:44:35 AM »
So i haven't really closed any account yet. I know it should be on the fine print but when do you guys usually close your accounts after receiving the bonus?

I haven't done this in a while, but for all the ones I did the requirement was always keep the account open six months (regardless of when I actually received the bonus).  I would usually do six months plus a few days just to be safe and ensure the bonus didn't get clawed back.

They don't all have a 6 month requirement, but it's not a bad practice. May not be necessary on the ones who don't require it though.

Probably true.  I suppose to be more accurate, I should have said that for all the bank bonuses I did that had claw back periods, they were all six months.  There may have been some that didn't have a claw back period at all.  And obviously banks might have different time requirements.

The general rule that I followed was (a) read the fine print and figure out when the account could be closed, then (b) wait for that date plus a few days, then (c) close the account.

Some of them allow immediate closure but best practice is to leave it open for a few months so that they'll continue to make offers ,whether it actually makes a difference on that, I have no idea.

lhamo

  • Magnum Stache
  • ******
  • Posts: 3502
  • Location: Seattle
Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1590 on: November 03, 2024, 10:34:20 AM »

I also set up an account at Treasury Direct based on Doctor Of Credit data points, it too seems to work as a DD, and it's free.
It's a little tricky so do your research: my first attempt ended with my account locked. I had to send them a notarized letter requesting an unlock because I just skimmed the instructions.

I managed to get the full $900 combined bonus for $15k savings + checking DD at Chase by using the Treasury Direct option.  I already had a TD account, so I just transferred some cash in, bought a CDI, and then cashed it out once it had seasoned (I think it took a week?)/transferred $100 to Chase checking. 

Did this after previous attempts at ticking the DD box through transfers from Fidelity and SChwab brokerage accounts did not work.

I'm in the middle of a remodel and the $900 is basically paying for my bathtub!

tj

  • Handlebar Stache
  • *****
  • Posts: 2351
  • Age: 39
  • Location: Orange County CA
Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1591 on: November 03, 2024, 02:33:40 PM »
I did a $25 partial payment from my wages to trigger the DD. I suppose a rare perk of working :D

sonofsven

  • Handlebar Stache
  • *****
  • Posts: 2393
Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1592 on: November 05, 2024, 08:38:07 AM »

I also set up an account at Treasury Direct based on Doctor Of Credit data points, it too seems to work as a DD, and it's free.
It's a little tricky so do your research: my first attempt ended with my account locked. I had to send them a notarized letter requesting an unlock because I just skimmed the instructions.

I managed to get the full $900 combined bonus for $15k savings + checking DD at Chase by using the Treasury Direct option.  I already had a TD account, so I just transferred some cash in, bought a CDI, and then cashed it out once it had seasoned (I think it took a week?)/transferred $100 to Chase checking. 

Did this after previous attempts at ticking the DD box through transfers from Fidelity and SChwab brokerage accounts did not work.

I'm in the middle of a remodel and the $900 is basically paying for my bathtub!
That $900 is a sweet bonus!
I'm waiting on  $1k B of A payout, with $400 Valley National, $500 BMO, $300 B of A personal, $750 Chase Biz, and $400 Wings CU coming soon.

lhamo

  • Magnum Stache
  • ******
  • Posts: 3502
  • Location: Seattle
Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1593 on: November 05, 2024, 09:22:05 AM »
Yeah, $900 is an excellent return for jumping through a few hoops.

A couple more offers have come in that look worth trying out:

1)  Wells Fargo checking $325 SUB for a 60 day DD of just $1000 -- not sure what balances you have to maintain to not be charged fees for the checking account, though (those details not specified in the offer).  Need to do some digging about that I guess.

2)  Key Bank $0 fee checking $800 SUB for a 60 day deposit/balance of $10k -- note that this does NOT seem to require direct deposit -- any type of deposit will meet the requirement.

If you keep the $10k in the account for a full 12 months you can get an additional $400 bonus, but I probably won't bother with that.

tj

  • Handlebar Stache
  • *****
  • Posts: 2351
  • Age: 39
  • Location: Orange County CA
Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1594 on: November 05, 2024, 09:24:13 AM »
Yeah, $900 is an excellent return for jumping through a few hoops.

A couple more offers have come in that look worth trying out:

1)  Wells Fargo checking $325 SUB for a 60 day DD of just $1000 -- not sure what balances you have to maintain to not be charged fees for the checking account, though (those details not specified in the offer).  Need to do some digging about that I guess.

2)  Key Bank $0 fee checking $800 SUB for a 60 day deposit/balance of $10k -- note that this does NOT seem to require direct deposit -- any type of deposit will meet the requirement.

If you keep the $10k in the account for a full 12 months you can get an additional $400 bonus, but I probably won't bother with that.

Wells Fargo has a $500 minimum balance to avoid the monthly fee.

MasterStache

  • Magnum Stache
  • ******
  • Posts: 2955
Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1595 on: November 08, 2024, 05:22:47 AM »
Don't know if anyone saw the Langley FCU $100 bonus posted on DoC. It's marked as VA but they are approving out of state as well with no Chex pull. 

Not a big bonus but requirements are as easy as they come. Just sign up for digital banking and complete one debit card transaction within 45 days. You can earn an extra $50 using a referral. That only requires 10 debit purchases within 60 days.

Effectively a $150 bonus with simple requirements and no Check pull.   

goodlivin23

  • 5 O'Clock Shadow
  • *
  • Posts: 12
Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1596 on: November 10, 2024, 12:21:22 AM »
Hi - So much info here! Can someone explain (in super simple terms:) how to open a new CC without having to pay the annual fee? I know it usually doesn't post until the end of the first year....do you open it and then close it after 12 months? What if it posts before you close the account? Details, please! Thank you!

sonofsven

  • Handlebar Stache
  • *****
  • Posts: 2393
Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1597 on: November 10, 2024, 02:19:30 AM »
Hi - So much info here! Can someone explain (in super simple terms:) how to open a new CC without having to pay the annual fee? I know it usually doesn't post until the end of the first year....do you open it and then close it after 12 months? What if it posts before you close the account? Details, please! Thank you!
In some cases you have to pay the AF  so make sure the deal is worth it.
If a card has an AF but it is waived for the first year then I generally wait for the AF to post on my statement (I monitor this online), then contact the bank and ask to close or downgrade (change to a non AF card) the card and have the AF credited back.
Generally, you can do this within 30 days of the AF posting, but it's good practice to research the card first on Doctor Of Credit and search for data points from other users there to determine if this strategy is working.
It's best to keep the cc open for a year, it lessens the risk of being banned by the cc company in question.

Padonak

  • Handlebar Stache
  • *****
  • Posts: 1074
Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1598 on: November 29, 2024, 12:35:32 PM »
I have a question not related to sign up bonuses. I'm trying to transfer over 10K from my wells fargo to sofi checking account. I linked the accounts and tried to make a push transfer from WF. The limit is 5K per transfer and 6k per month, so i only transfered 5K. If i make a "pull" transfer from WF to sofi for another 6-8K, will that also count towards that total transfer limit, perhaps resulting in that transfer being declined?

Nutty

  • Bristles
  • ***
  • Posts: 269
  • Location: Texas
  • Late but haven't missed the train.
Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1599 on: November 29, 2024, 05:19:09 PM »
Pulls count as debits and not transfers.  I think it should count.

 

Wow, a phone plan for fifteen bucks!