What Qualifies As Direct Deposits For Bank Promotion Eligibility?

howardt55 | Dec 5, 2015 | 5 posts since 2015

I don't receive income from employment or pension or any periodic payments so I do not have any direct deposits set up. Can I have one bank send monthly payments as deposits to another bank in order to qualify for new bank account promotions?.

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me1004 | Dec 5, 2015 | 1,381 posts since 2010

Typically, yes, you can. I have learned that they at least GENERALLY are simply looking for a recurring incoming ACH deposit. They don't care, and I doubt even know, if it is from a paycheck (when a bank sends money, they don't say it is paycheck money, they just send money).

Ricochet | Dec 5, 2015 | 522 posts since 2010

Might Help

https://www.depositaccounts.com/blog/direct-deposit-requirements-for-reward-checking-accounts.html

Ally6770 | Dec 5, 2015 | 4,304 posts since 2010

I believe there was a list on this blog some time ago of banks that accepted transfers as a DD.

cumulus | Dec 5, 2015 | 1,266 posts since 2010

Believe this is what you're after: List Of Methods Banks Count As Direct Deposits

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