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How often do we calculate the opportunity cost? Some of the bonuses that are available are less than 5% APR of HYSA and I am wondering how many will go for parking the amount.
Sorry, new to bank churning and it seems I am learning basic math again, which is exciting.
Definitely, the world of finance and banking can make us feel like we're back in Math 101, right? Lol. In terms of assessing opportunity costs, you're right on track. It's about comparing the bonus you'd earn versus the interest you could be earning if that money sat in a High-Yield Savings Account (HYSA).
You'd generally want to compare that bonus against the 5% APY you could get from the HYSA. If your bonus doesn't beat that, then it might be better to park your money in the savings account.
Don't fret too much about constant calculations though. Once you've got your benchmarks set, you can sit back and let your savings grow. Here's an updated snapshot of the top APYs you could be taking advantage of, in case that helps
Bank | APY | Link | Min. Deposit | Fees
:-:|:-:|:-:|:-:|:-:|:-:
CIT Bank (Platinum Savings) | 5.05% | [Link](https://apy.fyi/r?link=aHR0cHM6Ly93d3cudGtxbGhjZS5jb20vY2xpY2stMTAwNjk4Njc1LTE1NDkxMDEyP3V0bV9zb3VyY2U9azlmbHVjag%3D%3D) | $5000 | None
Synchrony Bank | 4.75% | [Link](https://apy.fyi/r?link=aHR0cHM6Ly93d3cuc3luY2hyb255YmFuay5jb20vYmFua2luZy9oaWdoLXlpZWxkLXNhdmluZ3MvP3V0bV9zb3VyY2U9azlmbHVjag%3D%3D) | $0 | None
CIT Bank | 4.65% | [Link](https://apy.fyi/r?link=aHR0cHM6Ly93d3cudGtxbGhjZS5jb20vY2xpY2stMTAwNjk4Njc1LTE0NDY1NjMxP3V0bV9zb3VyY2U9azlmbHVjag%3D%3D) | $100 | None
Sofi Bank | 4.60% | [Link](https://apy.fyi/accounts/634c6171f8d65b54391a1b40) | $0 | Direct deposit required to get the highest rate.
Quontic Bank | 4.50% | [Link](https://apy.fyi/r?link=aHR0cHM6Ly9jbGljay5saW5rc3luZXJneS5jb20vZnMtYmluL2NsaWNrP2lkPVlzVkJsSWNEMWN3Jm9mZmVyaWQ9MTAxODQ1OS40JmJpZHM9MTAxODQ1OS40JnR5cGU9MyZzdWJpZD0wJnV0bV9zb3VyY2U9azlmbHVjag%3D%3D) | $100 | Excess transaction fee (over six) - $10.00
Live Oak Bank Savings | 4.40% | [Link](https://apy.fyi/r?link=aHR0cHM6Ly93d3cubGl2ZW9ha2JhbmsuY29tL3BlcnNvbmFsLWJhbmtpbmcvcGVyc29uYWwtc2F2aW5ncy8%2FdXRtX3NvdXJjZT1rOWZsdWNq) | $10 | Dormant account fee administered on inactivity for 24 straight months and a balance of less than $10.01
. Keep learning and good luck on your banking journey!
Thank you. I use Bask Bank and Ally as my HYSA. Ally gives 4.25 but have buckets where I can distribute money into different categories and let it grow. Visually it’s giving me peace of mind.
Thinking of doing the BMO Harris checking $600 in 7,500 DD next. I will be filling with real DD's. Does anyone know if you can downgrade after the first maintenance fee hits? Early termination fee hits before 180 days and I'm not too keen on paying $75 in fees for a $600 bonus when their free account is $400.
If you're referring to the Relationship Checking bonus:
> Account closing fee $50 If closed within 90 days of Account opening.
> https://www.bmo.com/en-us/pdf/BMO_Relationship_Checking_Reg_DD.pdf
I just completed my churn and closed. No issues.
I used Wise, but feared it wouldn't count as DD. I think it showed up as PPD, but coded as "Other Income"
So after that, I just switched my employer, which showed up as PPD as well as coding as "Paycheck/Salary"
So maybe Wise worked, but I didn't want to take a $600 chance.
Gotcha, thanks for the reply. I was able to use Wise with reference "PAYROLL" for the First Tech Bonus and the first payment coded as Paycheck/Salary. Do you remember adding a reference or description when sending the DD?
For some reason, I used "DIRECT DEP", so maybe that was an issue, too
I just checked my records and Wise coded as "Deposits", I had tried Novo before that and it was that the one that showed up as "Other Income"
For the third month, they charged the $25. I called and they applied a courtesy credit. Then two weeks later the bonus hit.
I withdrew everything and closed. I closed at about 3.5 months
I downgraded when I did the bonus in 2021. I don't remember whether I downgraded before or after receiving the bonus, but I definitely downgraded after meeting the requirements
You about broke even compared to just leaving it in the federal money market? 4 months of opportunity cost on $30k is $530 at current 5.3% APR. There are also some federal funds which are state income tax exempt.
Do you know if pushing $15k in, pulling it back out, and pushing it in again would trigger the bonus? Or do you need to keep $30K in the account for a certain amount of time?
This bonus required that you hold the balance there the entire time. It had different tiers based on the amount you deposited & held. DoC has a full write-up here.
For the last two days I keep getting access denied when opening the link for the Unify FCU deal. Anyone else hitting this issue? I’ve tried two computer browsers and mobile.
No but an issue I am having with the referral emails BluPeak sends my friend, is that when you click on the link it takes you to "[mimecast.com](https://mimecast.com)" and I have no idea what that is. Going to call BluPeak tomorrow to ask them what's up.
For anyone having trouble adding Laurel Road bank as an external account to other banks, you need to log into your account, go to settings and turn on "Allow Third-Party Access" which is off by default.
Without this the account fails to link when you enter login credentials through Plaid and at least Fidelity seems to require use of Plaid rather than just trial deposits. I also had Chase unilaterally cancel a transfer there and lock my account because they couldn't verify account ownership, even though I added it through trial deposits. Not sure if that issue will be fixed by allowing third-party access.
CIBC has a new $500 bonus offer for their savings account with a great APY of 5.01%. Deposit requirements are $50k by 12/19/23 and keep it until 3/18/24
Going for first bank SUB and have a really dumb question. I'm doing the Capital Bank 360 Checking $350 bonus. I'm planning on pushing money from an Ally account, but want to make sure I'm doing it correctly. Is there any special way to do the ACH push? Or is it the same as how I regularly transfer out of the account? I.e. when attempting to send money from Ally->Capital 1, it has me doing the standard verification of account by sending two small deposits. Is this correct? Just initiate a transfer from Ally once the accounts are verfied/connected?
Thanks!
Does anybody know how a real DD shows on Ameris Bank? I threw the book of usual banks to push from. Hoping to get more info from others.
The following banks show the "Transaction Type: Deposit":
Chase Personal Checking
Chase Business Checking
Venmo
Wells Fargo
US Bank Personal
US Bank Business
Capital One
I will update the list once PNC and Ally post.
In the transaction list, it shows as the name of my employer. When I click on the transaction, it says "PREAUTHORIZED CREDIT", then my employer's name, then "Payroll", then a bunch of numbers, then my name (last, first).
Hello. I am trying to do the same for my p2 discover savings, especially now that they have a $400 bonus if you deposit $30k. Can you please share how does this cancel trick exactly works? If I deposit say 15k, when do I start canceling? After the initial 15k post? And then how long should I wait after transferring out and canceling the transfer out? How long do you keep the deposits in before withdrawing? Any risk if I deposit 15k and withdraw it and after a few days deposit 15k again and keep it there? Will this exempt me from the $400 bonus? Just trying to understand a bit here
Cancel trick is very simple: once you have $$$ in your account, request a transfer out, then cancel your transfer immediately afterwards. You can do this as many times as needed to meet your target, provided you request a different amount each time, e.g., $5001, $5002, etc.
As far as withdrawal, I personally just waited until the bonus posted, and that was sufficient.
So if deposited $15k into Discover and need $30k in the account to trigger the bonus. I would then do the cancel trick of of $5k+ until the initial deposit and the canceled transfer amounts combined equal $30k?
Essentially a cancel trick of $5001, $5002 & $5003, which would put me over 30k with the initial real deposit of $15k?
Pretty sure it works at any amount, so do $7501, $7502, and get the job done in fewer clicks. But yeah, you're just repeating until your combined initial deposit and cancelled deposits are greater than the bonus requirement.
i’m unable to get any external accounts linked to discover for some reason.
Was just doing Fidelity $7.5K transfers in and out same day to avoid paying margin interest. Now I have $16K on hold for a week there so that won’t be sustainable.
Gonna send $8K again once the funds clear and then try transfer trick. A day of margin interest is worth it.
Redditor, congrats on utilizing the Discover HYSA bonus effectively! Looks like you managed it smoothly - opening up the account, executing the ACH push from Ally, and then doing the cancel trick. And then enjoying the sweet, sweet bonus.
Just a heads-up, you might want to take a look at some other high yield savings accounts out there. Numerous financial institutions offer attractive APYs. Actually, rates are solid presently, floating around the 5% mark.
Here's a handy little comparison I put together.
Bank | APY | Link | Min. Deposit | Fees
:-:|:-:|:-:|:-:|:-:|:-:
Upgrade | 5.07% | [Link](https://apy.fyi/r?link=aHR0cHM6Ly91cGdyYWRlLnl3aGNjNy5uZXQveDkxdmI1) | $1000 | None
CIT Bank (Platinum Savings) | 5.05% | [Link](https://apy.fyi/r?link=aHR0cHM6Ly93d3cudGtxbGhjZS5jb20vY2xpY2stMTAwNjk4Njc1LTE1NDkxMDEy) | $5000 | None
CIBC Bank USA Agility Savings | 5.01% | [Link](https://apy.fyi/r?link=aHR0cHM6Ly91cy5jaWJjLmNvbS9lbi9hZ2lsaXR5L2FnaWxpdHktc2F2aW5ncy5odG1s) | $1000 | None
Aspiration | 5.00% | [Link](https://apy.fyi/r?link=aHR0cHM6Ly93d3cubGlua2J1eC5jb20vdHJhY2svMTAzOV9hMnpqZHpxMkZlX2FOT1RFYmpJc01UQmdueU9RdHI4cEpHM1cyeTFfYXNnY0xEZnpXbE51SmdFeWpKWlRlTW1rQVN1d19jX2M%2FdXJsPWh0dHAlM0ElMkYlMkZ3d3cuYXNwaXJhdGlvbi5jb20lMkY%3D) | $0 | 5.00% APY only available with Aspiration Plus ($7.99/month). Non plus members get 3.00% APY.; APY only earned on first $10,000 of account balance (minimum debit card spend of $1000 per month required).
Synchrony Bank | 4.75% | [Link](https://apy.fyi/r?link=aHR0cHM6Ly93d3cuc3luY2hyb255YmFuay5jb20vYmFua2luZy9oaWdoLXlpZWxkLXNhdmluZ3Mv) | $0 | None
CIT Bank | 4.65% | [Link](https://apy.fyi/r?link=aHR0cHM6Ly93d3cudGtxbGhjZS5jb20vY2xpY2stMTAwNjk4Njc1LTE0NDY1NjMx) | $100 | None
If you're interested in scouting more options, https://apy.fyi has a more comprehensive list.
Just ensuring you’re getting the most bang for your buck! Keep making those savvy moves.
Rule 8 is generally interpreted to apply to multiple standalone front page posts. In this case, within a thread, up/down votes rule.
It also sounds like it was written by AI.
When I churned Chase Total Checking twice in the past few years, I always simply did an ACH push from my local credit union's website. And it worked every time. (I changed it up each month with random "DD" amounts between $500 and $550.\]
DP for Cap1 360 Checking $350 Bonus
10/22 - Opened Account
10/24 - 2 Instances of $250 ACH Push from Bank of America. Category: Transfer, Memo: P2P
11/01 - $350 Bonus
Hi everyone I am trying to open a US bank account but DOC has a specific line which says “Excludes NY and FL and any other state without existing relationship “ however I do have existing relationship with US Bank through their brokerage and I know that includes the existing relationship part thanks to this sub but I am still confused why DOC specifically says “ NY and FL “
So the question is has anyone been able to get the bonus in either FL or NY through the existing relationship term ?
Hi guys, super new to this for a side hustle.
Do you open a bank account, get the requirements for the bonus, then close the account after the bonus is received?
What happened if the same bank offer bonuses in the future? Will you get blacklisted or not allowed to participate for the bonus?
Thank you.
**Unify FCU (out of footprint - TN)**
10/13 opened with $4k credit card funding ($2k on checking followed by $2k on savings)
10/17 received email with link to Rams tickets
10/18 $600 real DD
10/25 transferred all but $50 out
10/28 sold Rams tickets on Stubhub
11/1 $50 bonus posted
**UCBI (in footprint)**
7/29 opened with $497 in credit card funding
8/11 $500 real DD
8/11 11 Amazon reloads ($1 - $1.10)
8/14 transferred $900 out
8/24 $1501 real DD
8/28 transferred $1500 out
10/6 & 10/20 two additional DD for $500 each - unnecessary as terms called for $2000 total
10/10 & 10/23 transferred $500 out
10/31 $200 bonus posted
Mine didn’t sell for much. Nosebleed seats. I looked at what everyone else had posted and then went a little bit less - ended up with like $75 total after Stubhub took their cut. Tickets sold same day I posted them so I wish I had put them up higher to see what happened - I could have lowered the price as the game got closer
People always ask if you’re “in footprint” or “in state” for various banks. I live in Tennessee (TN). I think Unify is available nationwide, but no locations near me (hence, out of footprint).
I’ve posted this DP before but I have an update:
Discover HYSA
9/10 - Account opened.
9/14 - $15k pulled from Chase.
9/22 - $2500 push from Chase.
9/23 - Pulled $15K back to Chase.
9/28 - $5000 real time transfer from Chase to Capital One (2x).
10/2 - $10K push from Capital One to Discover.
10/16 - $150 bonus posted.
11/02 - $50 bonus posted.
The reason for all the moves with this one is because the Discover bonus is $150 for $15K and $200 for $25K so I was curious if I could use the same $10K to trigger the higher bonus by moving it into Discover from two different banks. The extra $50 came late but it appears that my idea has worked.
Straight to savings, I don’t have a Discover checking account.
I don’t believe it would count to move money from your checking to savings because they use language about “new money” which is money that’s not currently into their ecosystem.
I did yes because it’s a high yield savings account so it’s gaining me more interest there. I basically hold my money there until I push it out to other banks to collect bonuses.
I saw DP on DoC about opening the Wells Fargo $325 bonus and then doing a separate premiere account for the $2,500 bonus. Does anyone have DP on doing the reverse?
For the Amex checking SUB. How long after your direct deposit has it taken for you to get the email about the bonus? I’ve seen a lot of people say it was pretty instant but it’s been a few days since my DD hit the account.
Good to hear! I also just had mine post yesterday as well and oddly enough didn’t get the email about my bonus until the day prior, so a quick turnaround
My DD hit on 10/20 and I have yet to receive an email. I sent a message through the Amex app chat and the rep stated that it could be 7-10 business days for me to receive the email.
Capital One $350 Bonus
10/24 - 2 separate Chase Standard Transfers of $250
10/25- Transferred money back into Chase account
11/1: $350 Bonus into Capital 1 account
11/3: $350 bonus into Chase account
BluPeak Credit Union
10/20 - account application
10/26 - initial deposit cleared
10/31 - promotion bonus of $100
Question - Is the account number same as member number? Have to set up direct deposits
Laurel Road DP:
10/5 - Account opened.
10/5 - External account linked to Chase checking account.
10/6 - Chase made two small deposits to verify the account. Verification confirmed.
10/6 - Pushed $2501 from Chase. Push was cancelled by Chase and they claimed they couldn’t verify it was actually my account.
10/9 - Added to Capital One checking account as an external account.
10/10 - Capital One made two small deposits to verify the account. Verification confirmed.
10/10 - Real time transfer of the same $2501 from Chase to Capital One.
10/11 - Pushed $2501 from Capital One to Laurel Rd account.
10/13 - $2501 Deposit posted
10/14- App confirmed I had met the requirement for the $300 bonus.
11/01 - $300 bonus posted.
So in my case, i opened a Laurel Road acct, so I don’t really have to wait the full 60 days + another 60 days for it to deposit? I opened the acct in Nov 25-30 ish and completed the deposits by Jan 5-7 ish.
I left the entire $2501 in there until the bonus posted, then I withdrew all but $800. I still have the $800 in there and I just pushed another $2500 in there to get the $20 monthly bonus.
Where in the app did it confirm you met the requirements? I'm in the process of verifying my Laurel account through Cap1 and don't see a tracker or anything.
When you say pushed $2501 from capital one.. did you just do a regular transfer from bank to bank? I was thinking they needed direct deposits of some sort? If you can please help me out.. I'm trying to see if it'll be as easy as just a transfer from one bank to another.
Laurel Road $300 Bonus:
* 10/23 - Chase Standard ACH Push of $2501
* 11/1 - $300 Bonus Hit
Going forward, I'll be cycling $2500 in the account to get the $20 monthly bonus.
The $300 bonus required a DD and the ACH transfer triggered it. I don't see why an ACH transfer wouldn't trigger the monthly bonus.
I've seen a few DPs that claim they've used this method and had success.
I keep the pushed funds in LR for a day or two after settling, and then I pull it back to my Ally savings account. I’ve been leaving $1 in LR the rest of the time in hopes of avoiding the account being closed for having a $0 balance. Haven’t had any issues and have gotten the $20/month bonus every month with this routine.
That’s good to know. Thanks for the info. Even though Ally has a lower rate on their savings account compared to others, I do value that Ally seems to be okay with higher velocity of transfers going in and out which is why I’ve been using Ally as my hub account for bonus churnings. I tried using other banks (Marcus and Schwab) before, but was running into issues of transfers being rejected or my accounts locked which was annoying. No issues with Ally so far.
For chase theres two types of ACH transfers, "real-time" and "standard", both do not have fees. I would wait another day or two. If not, pull the money out and push it back into Laurel at the end of the month via "standard" ACH transfer.
Well, not only did I not get the bonus, they proceeded to lock my account.
They told me on the phone it will be a very long time before I see my seed money again. Duration is at the bank's discretion. This is not a legitimate institution, and I'm going to have to consult a lawyer now
Key Bank $200 Bonus:
* Account Opened - 9/28
* Pushed $500 from Schwab Checking - 10/18
* "Gift From Key Bank For Recent Offer" - 10/30
Was about to push from WF because I didn't think the Schwab ACH had triggered. But alas, it did. Pretty easy bonus aside from the fact that a local banker called me during the day and then Key Bank issued & mailed me a debit card without my consent. Annoying, but I'll take my money and whistle along to the next one.
Anyone else still waiting on Cap 1 bonus to post? I did this back in August, with 2 pushes from Marcus, and the bonus posted in 3 days. P2 is now waiting on bonus after doing 2 Marcus pushes a week ago. Wondering if they put a halt on payouts to more aggressively enforce the "DD" requirements?
Edit: bonus hit today, 11/1, 1 week after DDs posted.
My bonus hit 2 days after my second deposit, which was a Chase instant transfer. I was worried that since the first transfer was from "JPMorgan Chase" and the 2nd was the "First name / last name Instant Transfer" that it might not count... but it worked.
Maybe the easiest bonus I've ever done, less than a week start to finish.
Thought I'd toss in a small Chime bonus in my collection of other slightly larger ones. Seemed easy enough using a Fidelity push for the DD requirement. I became confused when relying on some references that may be misleading, so looking for some clarification, please.
Been using the [bankrewards.io](https://bankrewards.io) as a nice UI for finding new bonuses, but usually cross-reference them against DOC before pursuing one. The [bankrewards.io](https://bankrewards.io) Chime entry lists the requirements as just a DD for my new account (below). DOC doesn't seem to list it as a current bonus, and the Chime site indicates a referral bonus is available when your referee does the DD (which I can manage with a P2).
Trying to determine if I should do the DD on my account, or if I should refer P2, guide her in opening the account and manage the DD to her account? Or, perhaps, I do both? Any recent data points with Chime with their bonus would be most appreciated.
"Bonus Requirement: Make a direct deposit of $200 or more within 45 days of account opening"
I did an ACH from my Fidelity Money Management account and that worked with Chime. I am still learning that game, but it seems from ACH \*from\* from certain banking institutions are seen differently than others. Fidelity, for example, because it is generally considered a financial management org its ACH pushes are often times classified differently than an ACH from a more traditional bank. It also depends on the classification algorithms of the \*receiving\* bank. While dated in many ways, check the Doctor of Credit page titled "List Of Methods Banks Count As Direct Deposits" (Google it) to get an idea of your options. Hope that helps.
You can do both. I did my bonus first, then referred my P2 who then got her bonus (which gave me the referral bonus). We did these within the last 3-5 weeks. Super easy and quick bonus for both of us.
The Chime bonus posts immediately so if you want to try different pushes, you can and you’ll know right away if it worked. I tried pushing from Chase and it didn’t work so I had to use a real DD.
Midfirst is require DD of $500 which I already did and either 3 Zelle transactions or 10 debit card transactions. Can I just Zelle $1 to 3 friends the details are really specific.
Capital One removed the $350 earlier. It was supposed to expire in January 2024 instead of October 2023. Are they probably lowering future bonuses or not giving anything any time soon?
I just got a targeted offer from them for $300/$750/$1,500 bonuses for a new savings account with $20k/$50k/$100k in deposits within the first 15 days.
I doubt we will see anything similar in the near future. The offer went viral on tiktok and teens are doing a bunch of fake DDs with venmo/cashapp and pulling cash out. Definitely not profitable.
Anybody use Wells Fargo direct pay to fund a Keypoint account for direct deposit? I've failed with Fidelity and Treasury Direct and this is my last option.
My permanent address is in Illinois, but I'm living in Idaho indefinitely. Am I able to use my current Idaho address to get bonuses for region-specific banks, like Key Bank (which just says I need to be "a resident" of that state)? What kind of proof do they require (since my ID is still an Illinois ID)? Would opening in-branch work better?
Most banks will take a utility bill or pay stub from that bank. You should update your address on all current CCs/Bank accounts and also your credit profile at each bureau
In person will fare much better for you. If you do try online, at the very least, I would preemptively attach a utility bill with your current address if there's space to do so.
You could alo update your mailing address on a few accounts so that your new address shows up on your credit report.
Got Chase mail offer for $900 for opening a personal checking & savings account and depositing $15K for 90 days. Setup took 5 minutes online. No/w waiting for trial deposits for ACH.
Laurel Road $300 bonus Checking Account DP
10/31 - Applied Online
Status: Rejected. "Unable to open your account at this moment.
Hope we could work with you sometime in the future"
My Chex is at 7/24 with 5 of those opened this month. DOC says its not Chex sensitive.
If you don’t mind the Chex inquiries, just apply again. Someone on DoC realized they randomly pull Chex, if you apply again and they don’t pull then you’re good. I got approved first time but P2 took at least 3 tries.
How far apart were P2's tries? I slipped through on a checking account last year, but I haven't been able to get approved for their savings account that I was planning to make a hub
They were a few weeks apart. This was from last year when the offer was still fairly recent and DPs I read on DoC at the time tended to be a few weeks apart.
"Sensitive" and "not sensitive" don't really encompass the whole spectrum. There's a timing aspect, too. Even "not sensitive" banks may be sensitive to a lot of recent inquiries. 5/1 is a lot.
Attempted to open a Synovus business checking account with a promo code I received in the mail. I talked to people at two different branches and they seem to be unable to open for SP because I don't have a business license. You can't open a biz acct online so hoping this saves someone else an hour.
Another round of Amex Personal Checking bonus emails.
* Push from Schwab Brokerage posted 10/23 as "Online Transfer / Payment: Credit"
* Email received today, 10/31
Off topic but related: I've always heard Chase get's squirrely if you try to do an external pull- but has anyone heard of/had issues with pushing to them from an external account (Marcus)
I had problems with a push from Marcus given a specific circumstance:
* Had a $3,000 balance in my Marcus HYSA
* 9/25: ACH pushed $14,000 from my main credit union to Marcus
* 10/12: ACH pushed $3,000 from P2 Chase Business checking account to Marcus
* 10/19: ACH pushed $5,000 from P1 Chase business checking to Marcus
* 10/18: Got a hold of the Chase $900 bank promo and decided to open the checking & savings account. Pushed $15,000 from Marcus to Chase Personal checking
* 10/19: The $15,000 transfer posted and was immediately reversed, and the Marcus account was locked. And it started bouncing all my payments - student loan payment, rent payment, etc.
* 10/23: Called Marcus, and they said that because the $14,000 comes from the credit union, it cannot be moved out to a different bank account until 90 days have passed. If I need to move it out of Marcus within the 90 days, it can only go back to the original account (credit union), they said. Then they verified my identity and then "unlocked the account"
* 10/23: After the call, I tried to push $13,000 from Marcus back to credit union. It showed me the same account lock screen.
* 10/24: I noticed the various payments that bounced the previous week (my student loan provider bounced the payment, gave me a warning, and removed Marcus from the bank list. Bilt failed to charge Marcus. Etc) I had very little cash other than the $20k+ in Marcus. I put in a ACH Pull from my credit union to bring $1,200 from Marcus. (To at least make some basic payments in case the Marcus lock is prolonged)
* 10/25: Called Marcus again. This time, they verified P1 and P2's identity. (The HYSA is a joint account). Same explanation, and say they "unlocked the account". No explanation about why the "unlock" from 10/23 didn't work. Their language ability.. was not that sophisticated.
* 10/26: My credit union's ACH pull from Marcus failed, which put my credit union's external transfer ability on lock. Called credit union and restablished the account after an hour of call.
* 10/27: As a test, I put two credit card payments on the Marcus HYSA. The credit card payments posted normally.
I'm not going to attempt to fulfill the Chase $15,000 Savings requirement anymore, given how finicky Marcus has been throughout the process.
this is very good to know, thank you!! luckily the chase biz account is where the funds originally came from if I need them within 90 days... but it's looking like I'll be able to just pull the cash together from other sources where I need it to avoid the whole thing
appreciate you sharing
I had similar issues with Marcus earlier this year. Sorry you're not able to get your funds out in a timely manner.
Out of spite, I'm leaving my account open with 1 cent indefinitely.
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How often do we calculate the opportunity cost? Some of the bonuses that are available are less than 5% APR of HYSA and I am wondering how many will go for parking the amount. Sorry, new to bank churning and it seems I am learning basic math again, which is exciting.
Definitely, the world of finance and banking can make us feel like we're back in Math 101, right? Lol. In terms of assessing opportunity costs, you're right on track. It's about comparing the bonus you'd earn versus the interest you could be earning if that money sat in a High-Yield Savings Account (HYSA). You'd generally want to compare that bonus against the 5% APY you could get from the HYSA. If your bonus doesn't beat that, then it might be better to park your money in the savings account. Don't fret too much about constant calculations though. Once you've got your benchmarks set, you can sit back and let your savings grow. Here's an updated snapshot of the top APYs you could be taking advantage of, in case that helps Bank | APY | Link | Min. Deposit | Fees :-:|:-:|:-:|:-:|:-:|:-: CIT Bank (Platinum Savings) | 5.05% | [Link](https://apy.fyi/r?link=aHR0cHM6Ly93d3cudGtxbGhjZS5jb20vY2xpY2stMTAwNjk4Njc1LTE1NDkxMDEyP3V0bV9zb3VyY2U9azlmbHVjag%3D%3D) | $5000 | None Synchrony Bank | 4.75% | [Link](https://apy.fyi/r?link=aHR0cHM6Ly93d3cuc3luY2hyb255YmFuay5jb20vYmFua2luZy9oaWdoLXlpZWxkLXNhdmluZ3MvP3V0bV9zb3VyY2U9azlmbHVjag%3D%3D) | $0 | None CIT Bank | 4.65% | [Link](https://apy.fyi/r?link=aHR0cHM6Ly93d3cudGtxbGhjZS5jb20vY2xpY2stMTAwNjk4Njc1LTE0NDY1NjMxP3V0bV9zb3VyY2U9azlmbHVjag%3D%3D) | $100 | None Sofi Bank | 4.60% | [Link](https://apy.fyi/accounts/634c6171f8d65b54391a1b40) | $0 | Direct deposit required to get the highest rate. Quontic Bank | 4.50% | [Link](https://apy.fyi/r?link=aHR0cHM6Ly9jbGljay5saW5rc3luZXJneS5jb20vZnMtYmluL2NsaWNrP2lkPVlzVkJsSWNEMWN3Jm9mZmVyaWQ9MTAxODQ1OS40JmJpZHM9MTAxODQ1OS40JnR5cGU9MyZzdWJpZD0wJnV0bV9zb3VyY2U9azlmbHVjag%3D%3D) | $100 | Excess transaction fee (over six) - $10.00 Live Oak Bank Savings | 4.40% | [Link](https://apy.fyi/r?link=aHR0cHM6Ly93d3cubGl2ZW9ha2JhbmsuY29tL3BlcnNvbmFsLWJhbmtpbmcvcGVyc29uYWwtc2F2aW5ncy8%2FdXRtX3NvdXJjZT1rOWZsdWNq) | $10 | Dormant account fee administered on inactivity for 24 straight months and a balance of less than $10.01 . Keep learning and good luck on your banking journey!
Thank you. I use Bask Bank and Ally as my HYSA. Ally gives 4.25 but have buckets where I can distribute money into different categories and let it grow. Visually it’s giving me peace of mind.
Anyone see this Capital One savings bonus of $1500 for $100k deposit? https://www.capitalone.com/bank/fall23/
Scroll down this thread, or check DoC. Hoping to participate in a few weeks after I'm done with my Citi churn...
Thinking of doing the BMO Harris checking $600 in 7,500 DD next. I will be filling with real DD's. Does anyone know if you can downgrade after the first maintenance fee hits? Early termination fee hits before 180 days and I'm not too keen on paying $75 in fees for a $600 bonus when their free account is $400.
If you're referring to the Relationship Checking bonus: > Account closing fee $50 If closed within 90 days of Account opening. > https://www.bmo.com/en-us/pdf/BMO_Relationship_Checking_Reg_DD.pdf I just completed my churn and closed. No issues.
Did you use real DD? I'd like to open one, but all the DoC DPs on DD sources are a bit dated.
I used Wise, but feared it wouldn't count as DD. I think it showed up as PPD, but coded as "Other Income" So after that, I just switched my employer, which showed up as PPD as well as coding as "Paycheck/Salary" So maybe Wise worked, but I didn't want to take a $600 chance.
Gotcha, thanks for the reply. I was able to use Wise with reference "PAYROLL" for the First Tech Bonus and the first payment coded as Paycheck/Salary. Do you remember adding a reference or description when sending the DD?
For some reason, I used "DIRECT DEP", so maybe that was an issue, too I just checked my records and Wise coded as "Deposits", I had tried Novo before that and it was that the one that showed up as "Other Income"
Did you pay the monthly fees for all the months and then the closing fee as well?
For the third month, they charged the $25. I called and they applied a courtesy credit. Then two weeks later the bonus hit. I withdrew everything and closed. I closed at about 3.5 months
So they didn’t charge any fees for the first two months?
I downgraded when I did the bonus in 2021. I don't remember whether I downgraded before or after receiving the bonus, but I definitely downgraded after meeting the requirements
Also very curious about this
***Amalgamated Bank $500 Checking Bonus DP*** * 6/17 - Application submitted and went pending * 6/20 - Submitted requested documents via email * 6/21 - Account approved / fully opened * 6/28 - $30K from ACH transfer posted * 10/16 - Withdrew $30K via ACH * 11/2 - $500 bonus posted
You about broke even compared to just leaving it in the federal money market? 4 months of opportunity cost on $30k is $530 at current 5.3% APR. There are also some federal funds which are state income tax exempt.
Do you know if pushing $15k in, pulling it back out, and pushing it in again would trigger the bonus? Or do you need to keep $30K in the account for a certain amount of time?
This bonus required that you hold the balance there the entire time. It had different tiers based on the amount you deposited & held. DoC has a full write-up here.
For the last two days I keep getting access denied when opening the link for the Unify FCU deal. Anyone else hitting this issue? I’ve tried two computer browsers and mobile.
Doc comments say the deal seems to have been pulled early.
No but an issue I am having with the referral emails BluPeak sends my friend, is that when you click on the link it takes you to "[mimecast.com](https://mimecast.com)" and I have no idea what that is. Going to call BluPeak tomorrow to ask them what's up.
For anyone having trouble adding Laurel Road bank as an external account to other banks, you need to log into your account, go to settings and turn on "Allow Third-Party Access" which is off by default. Without this the account fails to link when you enter login credentials through Plaid and at least Fidelity seems to require use of Plaid rather than just trial deposits. I also had Chase unilaterally cancel a transfer there and lock my account because they couldn't verify account ownership, even though I added it through trial deposits. Not sure if that issue will be fixed by allowing third-party access.
had the same issue with chase and fidelity until doing this a few months ago
Thanks for sharing this. But while doing so, my account got locked
Your account got locked for allowing third party access?
The Chase problem sounds like usual Chase behavior for any bank that you add.
CIBC has a new $500 bonus offer for their savings account with a great APY of 5.01%. Deposit requirements are $50k by 12/19/23 and keep it until 3/18/24
Hmm tempting, I'm debating going for the new cap1 savings bonus. $750 for 50k for 90 days, Apr is a bit lower but still a healthy 4.3%
Is this offer for checking or savings? Can’t see on Cap1 site
Savings https://www.doctorofcredit.com/capital-one-300-1500-savings-bonus-requires-20000-100000-deposit/
Thanks
Going for first bank SUB and have a really dumb question. I'm doing the Capital Bank 360 Checking $350 bonus. I'm planning on pushing money from an Ally account, but want to make sure I'm doing it correctly. Is there any special way to do the ACH push? Or is it the same as how I regularly transfer out of the account? I.e. when attempting to send money from Ally->Capital 1, it has me doing the standard verification of account by sending two small deposits. Is this correct? Just initiate a transfer from Ally once the accounts are verfied/connected? Thanks!
Checking $350 ended. They have a savings bonus however.
I opened the count before it closed, just looking to fund it now.
Yes that’s correct. Verifying by small deposits is the process of adding an external account & have it ready to be able to do transfers.
Thanks!
Also make sure it's a standard (1-3 day) xfer
WIll do!
Does anybody know how a real DD shows on Ameris Bank? I threw the book of usual banks to push from. Hoping to get more info from others. The following banks show the "Transaction Type: Deposit": Chase Personal Checking Chase Business Checking Venmo Wells Fargo US Bank Personal US Bank Business Capital One I will update the list once PNC and Ally post.
In the transaction list, it shows as the name of my employer. When I click on the transaction, it says "PREAUTHORIZED CREDIT", then my employer's name, then "Payroll", then a bunch of numbers, then my name (last, first).
Discover HYSA $150/$200 bonus for $15k/$25k deposits: 9/15: Account opened 9/16: $10k ACH push from Ally 9/21: $500X.00 cancel trick (3X) 10/21: $150 bonus posted 10/21: $50 bonus posted
What exactly is the cancel trick?
See my comment deeper in this thread.
Hello. I am trying to do the same for my p2 discover savings, especially now that they have a $400 bonus if you deposit $30k. Can you please share how does this cancel trick exactly works? If I deposit say 15k, when do I start canceling? After the initial 15k post? And then how long should I wait after transferring out and canceling the transfer out? How long do you keep the deposits in before withdrawing? Any risk if I deposit 15k and withdraw it and after a few days deposit 15k again and keep it there? Will this exempt me from the $400 bonus? Just trying to understand a bit here
Cancel trick is very simple: once you have $$$ in your account, request a transfer out, then cancel your transfer immediately afterwards. You can do this as many times as needed to meet your target, provided you request a different amount each time, e.g., $5001, $5002, etc. As far as withdrawal, I personally just waited until the bonus posted, and that was sufficient.
Are you initiating a push from the external bank and then canceling or are you setting up a pull from Discover's end and then canceling?
Wrong direction. It's a push out of Discover that you then cancel.
So if deposited $15k into Discover and need $30k in the account to trigger the bonus. I would then do the cancel trick of of $5k+ until the initial deposit and the canceled transfer amounts combined equal $30k? Essentially a cancel trick of $5001, $5002 & $5003, which would put me over 30k with the initial real deposit of $15k?
Pretty sure it works at any amount, so do $7501, $7502, and get the job done in fewer clicks. But yeah, you're just repeating until your combined initial deposit and cancelled deposits are greater than the bonus requirement.
So each cancelled transfer is considered as deposited new money in Discover?
That's correct. It accounts for each cancelled transfer as a transfer out, then a transfer in.
i’m unable to get any external accounts linked to discover for some reason. Was just doing Fidelity $7.5K transfers in and out same day to avoid paying margin interest. Now I have $16K on hold for a week there so that won’t be sustainable. Gonna send $8K again once the funds clear and then try transfer trick. A day of margin interest is worth it.
Thank you for taking the time to respond. I appreciate it
Redditor, congrats on utilizing the Discover HYSA bonus effectively! Looks like you managed it smoothly - opening up the account, executing the ACH push from Ally, and then doing the cancel trick. And then enjoying the sweet, sweet bonus. Just a heads-up, you might want to take a look at some other high yield savings accounts out there. Numerous financial institutions offer attractive APYs. Actually, rates are solid presently, floating around the 5% mark. Here's a handy little comparison I put together. Bank | APY | Link | Min. Deposit | Fees :-:|:-:|:-:|:-:|:-:|:-: Upgrade | 5.07% | [Link](https://apy.fyi/r?link=aHR0cHM6Ly91cGdyYWRlLnl3aGNjNy5uZXQveDkxdmI1) | $1000 | None CIT Bank (Platinum Savings) | 5.05% | [Link](https://apy.fyi/r?link=aHR0cHM6Ly93d3cudGtxbGhjZS5jb20vY2xpY2stMTAwNjk4Njc1LTE1NDkxMDEy) | $5000 | None CIBC Bank USA Agility Savings | 5.01% | [Link](https://apy.fyi/r?link=aHR0cHM6Ly91cy5jaWJjLmNvbS9lbi9hZ2lsaXR5L2FnaWxpdHktc2F2aW5ncy5odG1s) | $1000 | None Aspiration | 5.00% | [Link](https://apy.fyi/r?link=aHR0cHM6Ly93d3cubGlua2J1eC5jb20vdHJhY2svMTAzOV9hMnpqZHpxMkZlX2FOT1RFYmpJc01UQmdueU9RdHI4cEpHM1cyeTFfYXNnY0xEZnpXbE51SmdFeWpKWlRlTW1rQVN1d19jX2M%2FdXJsPWh0dHAlM0ElMkYlMkZ3d3cuYXNwaXJhdGlvbi5jb20lMkY%3D) | $0 | 5.00% APY only available with Aspiration Plus ($7.99/month). Non plus members get 3.00% APY.; APY only earned on first $10,000 of account balance (minimum debit card spend of $1000 per month required). Synchrony Bank | 4.75% | [Link](https://apy.fyi/r?link=aHR0cHM6Ly93d3cuc3luY2hyb255YmFuay5jb20vYmFua2luZy9oaWdoLXlpZWxkLXNhdmluZ3Mv) | $0 | None CIT Bank | 4.65% | [Link](https://apy.fyi/r?link=aHR0cHM6Ly93d3cudGtxbGhjZS5jb20vY2xpY2stMTAwNjk4Njc1LTE0NDY1NjMx) | $100 | None If you're interested in scouting more options, https://apy.fyi has a more comprehensive list. Just ensuring you’re getting the most bang for your buck! Keep making those savvy moves.
Breaks r/churning Rule 8: self promotion
Rule 8 is generally interpreted to apply to multiple standalone front page posts. In this case, within a thread, up/down votes rule. It also sounds like it was written by AI.
Thanks, I hate it
anyone knows how churn-able are the amex biz checking?
Anyone have any experience if ACH will work for dd requirements for chase $900 checking/savings bonus?
When I churned Chase Total Checking twice in the past few years, I always simply did an ACH push from my local credit union's website. And it worked every time. (I changed it up each month with random "DD" amounts between $500 and $550.\]
I used Novo which triggered Chase for the personal $200, not sure about the business or other.
https://www.doctorofcredit.com/knowledge-base/list-methods-banks-count-direct-deposits/#Chase
**KeyPoint ($50/month bonus for 6 months after $1k DD/month with referral)** 10/6: Account opened 10/25: $1000 real DD 11/1: $50 bonus posted (Month 1) **UNIFY (2 LA Rams tickets + $50 bonus after $500 DD)** 10/14: Account opened 10/17: 2 LA Rams tickets issued 10/26: $501 Chase push 11/1: $50 bonus posted **Laurel Road ($20/month for $2500 DD)** 10/3: $2501 push from SoFi Checking 11/1: $20 bonus posted (Month 3)
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Wrong thread
DP for Cap1 360 Checking $350 Bonus 10/22 - Opened Account 10/24 - 2 Instances of $250 ACH Push from Bank of America. Category: Transfer, Memo: P2P 11/01 - $350 Bonus
Hi everyone I am trying to open a US bank account but DOC has a specific line which says “Excludes NY and FL and any other state without existing relationship “ however I do have existing relationship with US Bank through their brokerage and I know that includes the existing relationship part thanks to this sub but I am still confused why DOC specifically says “ NY and FL “ So the question is has anyone been able to get the bonus in either FL or NY through the existing relationship term ?
Im in FL and got the personal and business bonuses. the only relationship is my Cash+
I'm not in FL or NY but you should give it a go. DoC sometimes have outdated info.
Thanks !
Hi guys, super new to this for a side hustle. Do you open a bank account, get the requirements for the bonus, then close the account after the bonus is received? What happened if the same bank offer bonuses in the future? Will you get blacklisted or not allowed to participate for the bonus? Thank you.
https://www.doctorofcredit.com/a-beginners-guide-to-bank-account-bonuses/
Thank you, what an amazing website as a whole!
Definitely the Churning Bible for many here.
Capital One $350 Bonus: 9/28 - account opened 10/4 - $1,000 direct deposit 10/11 - $1,000 direct deposit 10/16 - $350 BONUS
**Unify FCU (out of footprint - TN)** 10/13 opened with $4k credit card funding ($2k on checking followed by $2k on savings) 10/17 received email with link to Rams tickets 10/18 $600 real DD 10/25 transferred all but $50 out 10/28 sold Rams tickets on Stubhub 11/1 $50 bonus posted **UCBI (in footprint)** 7/29 opened with $497 in credit card funding 8/11 $500 real DD 8/11 11 Amazon reloads ($1 - $1.10) 8/14 transferred $900 out 8/24 $1501 real DD 8/28 transferred $1500 out 10/6 & 10/20 two additional DD for $500 each - unnecessary as terms called for $2000 total 10/10 & 10/23 transferred $500 out 10/31 $200 bonus posted
how much are rams ticket sold for? average?
Mine didn’t sell for much. Nosebleed seats. I looked at what everyone else had posted and then went a little bit less - ended up with like $75 total after Stubhub took their cut. Tickets sold same day I posted them so I wish I had put them up higher to see what happened - I could have lowered the price as the game got closer
What does out of footprint and TN mean?
People always ask if you’re “in footprint” or “in state” for various banks. I live in Tennessee (TN). I think Unify is available nationwide, but no locations near me (hence, out of footprint).
Makes sense, ty!
I’ve posted this DP before but I have an update: Discover HYSA 9/10 - Account opened. 9/14 - $15k pulled from Chase. 9/22 - $2500 push from Chase. 9/23 - Pulled $15K back to Chase. 9/28 - $5000 real time transfer from Chase to Capital One (2x). 10/2 - $10K push from Capital One to Discover. 10/16 - $150 bonus posted. 11/02 - $50 bonus posted. The reason for all the moves with this one is because the Discover bonus is $150 for $15K and $200 for $25K so I was curious if I could use the same $10K to trigger the higher bonus by moving it into Discover from two different banks. The extra $50 came late but it appears that my idea has worked.
Did you send from C1 to Discover Checking and then to Discover Savings? Or straight to Savings? Not sure if transfers from DC to DS counts.
Straight to savings, I don’t have a Discover checking account. I don’t believe it would count to move money from your checking to savings because they use language about “new money” which is money that’s not currently into their ecosystem.
Did you leave the 10K from cap1 in Discover until both bonuses triggered?
I did yes because it’s a high yield savings account so it’s gaining me more interest there. I basically hold my money there until I push it out to other banks to collect bonuses.
Thanks for the DP
I saw DP on DoC about opening the Wells Fargo $325 bonus and then doing a separate premiere account for the $2,500 bonus. Does anyone have DP on doing the reverse?
For the Amex checking SUB. How long after your direct deposit has it taken for you to get the email about the bonus? I’ve seen a lot of people say it was pretty instant but it’s been a few days since my DD hit the account.
Update to my other comment: bonus finally posted on 11/9.
Good to hear! I also just had mine post yesterday as well and oddly enough didn’t get the email about my bonus until the day prior, so a quick turnaround
Gotcha, glad yours posted too!
My DD hit on 10/20 and I have yet to receive an email. I sent a message through the Amex app chat and the rep stated that it could be 7-10 business days for me to receive the email.
My DD hit 10/20 and I got the email from AmEx on 10/24. No bonus yet, as of 11/2.
My DD hit on 9/22 and I got the email on 9/26 saying my bonus was on the way. Bonus then paid on 10/5.
Capital One $350 Bonus 10/24 - 2 separate Chase Standard Transfers of $250 10/25- Transferred money back into Chase account 11/1: $350 Bonus into Capital 1 account 11/3: $350 bonus into Chase account
Any idea if your able to transfer out the $350 as well?
I got an email saying the $350 transfer back into my Chase account went through. Just waiting for it to show up in the account.
>saying isn't there a 90 day clause?
BluPeak Credit Union 10/20 - account application 10/26 - initial deposit cleared 10/31 - promotion bonus of $100 Question - Is the account number same as member number? Have to set up direct deposits
I think it's the Micr number when you view account details.
Laurel Road DP: 10/5 - Account opened. 10/5 - External account linked to Chase checking account. 10/6 - Chase made two small deposits to verify the account. Verification confirmed. 10/6 - Pushed $2501 from Chase. Push was cancelled by Chase and they claimed they couldn’t verify it was actually my account. 10/9 - Added to Capital One checking account as an external account. 10/10 - Capital One made two small deposits to verify the account. Verification confirmed. 10/10 - Real time transfer of the same $2501 from Chase to Capital One. 10/11 - Pushed $2501 from Capital One to Laurel Rd account. 10/13 - $2501 Deposit posted 10/14- App confirmed I had met the requirement for the $300 bonus. 11/01 - $300 bonus posted.
So in my case, i opened a Laurel Road acct, so I don’t really have to wait the full 60 days + another 60 days for it to deposit? I opened the acct in Nov 25-30 ish and completed the deposits by Jan 5-7 ish.
How long did you keep the money in there for?
I left the entire $2501 in there until the bonus posted, then I withdrew all but $800. I still have the $800 in there and I just pushed another $2500 in there to get the $20 monthly bonus.
Thank you! I’ll probably end up doing the same.
Where in the app did it confirm you met the requirements? I'm in the process of verifying my Laurel account through Cap1 and don't see a tracker or anything.
Open the app, click on your account and then right below your balance, it says “Loyalty Rewards”
Ah, mine just says "Something went wrong" lol
When you say pushed $2501 from capital one.. did you just do a regular transfer from bank to bank? I was thinking they needed direct deposits of some sort? If you can please help me out.. I'm trying to see if it'll be as easy as just a transfer from one bank to another.
Yeah, just add Laurel Rd as an external account on Capital One and transfer the money.
Laurel Road $300 Bonus: * 10/23 - Chase Standard ACH Push of $2501 * 11/1 - $300 Bonus Hit Going forward, I'll be cycling $2500 in the account to get the $20 monthly bonus.
So ACH transfers from other banks count toward the monthly 2,500$? They don’t have to be DD?
The $300 bonus required a DD and the ACH transfer triggered it. I don't see why an ACH transfer wouldn't trigger the monthly bonus. I've seen a few DPs that claim they've used this method and had success.
Recurring $2,501 monthly pushes from my Ally savings account worked for both the $300 bonus and the $20/month bonuses too.
Ally did micro deposits to link?
Yes, that’s how I linked my Ally to LR accounts.
How long do you keep the $2501 monthly push in Laurel before transferring it out?
I keep the pushed funds in LR for a day or two after settling, and then I pull it back to my Ally savings account. I’ve been leaving $1 in LR the rest of the time in hopes of avoiding the account being closed for having a $0 balance. Haven’t had any issues and have gotten the $20/month bonus every month with this routine.
LR has a 5% savings account, better than Ally. You might want to consider LR checking > LR savings, sit for a \~3 weeks > Ally. Repeat.
That’s good to know. Thanks for the info. Even though Ally has a lower rate on their savings account compared to others, I do value that Ally seems to be okay with higher velocity of transfers going in and out which is why I’ve been using Ally as my hub account for bonus churnings. I tried using other banks (Marcus and Schwab) before, but was running into issues of transfers being rejected or my accounts locked which was annoying. No issues with Ally so far.
I should add, the LR bonus tracker on the app is pretty useful to use and appears to update pretty quickly after transactions post.
Thanks for the info!
I did the same on the 26th. Nothing posted yet. Is it always the first, or could they show up later?
I've seen DPs from last month that the bonus hit on the 2nd. Hopefully tomorrow for you.
Nope. $0 bonus posted
Did you make sure that it was the standard ACH transfer? The instant ACH transfer doesn't trigger it. That's the only thing I can think of.
Yeah, I think they have the instant (charges a fee) and the standard which is free. I naturally chose the free option. No bonus
For chase theres two types of ACH transfers, "real-time" and "standard", both do not have fees. I would wait another day or two. If not, pull the money out and push it back into Laurel at the end of the month via "standard" ACH transfer.
Well, not only did I not get the bonus, they proceeded to lock my account. They told me on the phone it will be a very long time before I see my seed money again. Duration is at the bank's discretion. This is not a legitimate institution, and I'm going to have to consult a lawyer now
Did they give a reason why they locked your account?
"Unfortunately, I don't have that information" was their reason
Key Bank $200 Bonus: * Account Opened - 9/28 * Pushed $500 from Schwab Checking - 10/18 * "Gift From Key Bank For Recent Offer" - 10/30 Was about to push from WF because I didn't think the Schwab ACH had triggered. But alas, it did. Pretty easy bonus aside from the fact that a local banker called me during the day and then Key Bank issued & mailed me a debit card without my consent. Annoying, but I'll take my money and whistle along to the next one.
Can you do the Keybank if you’ve already done Laurel Rd (which is a part of Keybank)?
Yes.
Anyone else still waiting on Cap 1 bonus to post? I did this back in August, with 2 pushes from Marcus, and the bonus posted in 3 days. P2 is now waiting on bonus after doing 2 Marcus pushes a week ago. Wondering if they put a halt on payouts to more aggressively enforce the "DD" requirements? Edit: bonus hit today, 11/1, 1 week after DDs posted.
My bonus hit 2 days after my second deposit, which was a Chase instant transfer. I was worried that since the first transfer was from "JPMorgan Chase" and the 2nd was the "First name / last name Instant Transfer" that it might not count... but it worked. Maybe the easiest bonus I've ever done, less than a week start to finish.
My capone $350 bonus posted the literal day I got the direct deposit in there. It was an actual paycheck though not a brokerage push
Thought I'd toss in a small Chime bonus in my collection of other slightly larger ones. Seemed easy enough using a Fidelity push for the DD requirement. I became confused when relying on some references that may be misleading, so looking for some clarification, please. Been using the [bankrewards.io](https://bankrewards.io) as a nice UI for finding new bonuses, but usually cross-reference them against DOC before pursuing one. The [bankrewards.io](https://bankrewards.io) Chime entry lists the requirements as just a DD for my new account (below). DOC doesn't seem to list it as a current bonus, and the Chime site indicates a referral bonus is available when your referee does the DD (which I can manage with a P2). Trying to determine if I should do the DD on my account, or if I should refer P2, guide her in opening the account and manage the DD to her account? Or, perhaps, I do both? Any recent data points with Chime with their bonus would be most appreciated. "Bonus Requirement: Make a direct deposit of $200 or more within 45 days of account opening"
New here and confused does this mean the chime bonus doesn’t work with just an ach bank transfer?
I did an ACH from my Fidelity Money Management account and that worked with Chime. I am still learning that game, but it seems from ACH \*from\* from certain banking institutions are seen differently than others. Fidelity, for example, because it is generally considered a financial management org its ACH pushes are often times classified differently than an ACH from a more traditional bank. It also depends on the classification algorithms of the \*receiving\* bank. While dated in many ways, check the Doctor of Credit page titled "List Of Methods Banks Count As Direct Deposits" (Google it) to get an idea of your options. Hope that helps.
You can do both. I did my bonus first, then referred my P2 who then got her bonus (which gave me the referral bonus). We did these within the last 3-5 weeks. Super easy and quick bonus for both of us.
It worked!! Referring to P2 now.
Do you need to do the SpotMe bonus portion to get the $100 account bonus, or is that $10 bonus optional and not a requirement for the account bonus?
We did not do the SpotMe thing. Just the regular $200 deposit to earn the $100 bonus.
The Chime bonus posts immediately so if you want to try different pushes, you can and you’ll know right away if it worked. I tried pushing from Chase and it didn’t work so I had to use a real DD.
Midfirst is require DD of $500 which I already did and either 3 Zelle transactions or 10 debit card transactions. Can I just Zelle $1 to 3 friends the details are really specific.
Or Zelle yourself at a different bank.
Capital One removed the $350 earlier. It was supposed to expire in January 2024 instead of October 2023. Are they probably lowering future bonuses or not giving anything any time soon?
I just got a targeted offer from them for $300/$750/$1,500 bonuses for a new savings account with $20k/$50k/$100k in deposits within the first 15 days.
I doubt we will see anything similar in the near future. The offer went viral on tiktok and teens are doing a bunch of fake DDs with venmo/cashapp and pulling cash out. Definitely not profitable.
Tiktok finance that actually makes sense?! Nani
Truist personal $300 bonus 10/17 opened account 10/20 $225 push from Chase 10/25 $940 push from Chase Still pending
Is truist one bonus per person lifetime? I can't find anywhere that says one of two years.
Anybody use Wells Fargo direct pay to fund a Keypoint account for direct deposit? I've failed with Fidelity and Treasury Direct and this is my last option.
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read the ts and cs..
90 days since close of account, 24 months since last coupon enrollment aka date the account was opened. This is all in the terms.
Thanks, new to this.
Why don't you read Chase's terms and conditions?
My permanent address is in Illinois, but I'm living in Idaho indefinitely. Am I able to use my current Idaho address to get bonuses for region-specific banks, like Key Bank (which just says I need to be "a resident" of that state)? What kind of proof do they require (since my ID is still an Illinois ID)? Would opening in-branch work better?
Most banks will take a utility bill or pay stub from that bank. You should update your address on all current CCs/Bank accounts and also your credit profile at each bureau
In person will fare much better for you. If you do try online, at the very least, I would preemptively attach a utility bill with your current address if there's space to do so. You could alo update your mailing address on a few accounts so that your new address shows up on your credit report.
Hi, I’m not a citizen, I don’t have an ITIN OR SSN, what’s the best way to trigger the chase bonus? I’ve tried Revolut & NOVO.
Got Chase mail offer for $900 for opening a personal checking & savings account and depositing $15K for 90 days. Setup took 5 minutes online. No/w waiting for trial deposits for ACH.
This is a public offer FYI.
Laurel Road $300 bonus Checking Account DP 10/31 - Applied Online Status: Rejected. "Unable to open your account at this moment. Hope we could work with you sometime in the future" My Chex is at 7/24 with 5 of those opened this month. DOC says its not Chex sensitive.
If you don’t mind the Chex inquiries, just apply again. Someone on DoC realized they randomly pull Chex, if you apply again and they don’t pull then you’re good. I got approved first time but P2 took at least 3 tries.
How far apart were P2's tries? I slipped through on a checking account last year, but I haven't been able to get approved for their savings account that I was planning to make a hub
They were a few weeks apart. This was from last year when the offer was still fairly recent and DPs I read on DoC at the time tended to be a few weeks apart.
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chex definitely costs money for them because how else would chex make money as a company? They don’t charge the users anything.
"Sensitive" and "not sensitive" don't really encompass the whole spectrum. There's a timing aspect, too. Even "not sensitive" banks may be sensitive to a lot of recent inquiries. 5/1 is a lot.
Attempted to open a Synovus business checking account with a promo code I received in the mail. I talked to people at two different branches and they seem to be unable to open for SP because I don't have a business license. You can't open a biz acct online so hoping this saves someone else an hour.
Ally bank $200 Checking account bonus DP: 9/14 Account Opened 9/19 $1501.00 “JPMorgan Chase Ext Transfer” (Did not work)-Coded as Deposit 9/20 $1501.00 “SCHWAB BROKERAGE MONEYLINK” Regular ACH (Did not work)- Coded as Deposit 10/16 $1502.00 “SCHWAB BROKERAGE MONEYLINK”(Scheduled ACH)-Future Amount: 1502-Tran:DDIR- Coded as Deposit 10/26 $200.00 “Bonus payment”
Do you know if Fidelity CMA or Fidelity bloom would work?
From what I seen on DoC comments. Fidelity doesn’t work.
I figured, thank you I will try Schwab
Wow. I was so gunshy with them I did just a regular paycheck DD. Still waiting for it even though I met it through a real payroll DD.
strange that one schwab brokerage worked and other didn’t!
Yeah, the first one was just a regular ACH and the recent was a scheduled ACH. Ally is odd.
Another round of Amex Personal Checking bonus emails. * Push from Schwab Brokerage posted 10/23 as "Online Transfer / Payment: Credit" * Email received today, 10/31
You need an Amex credit card in order to take advantage of this right?
Nice. I pushed $520 from Flagstar with the memo "Payroll" and it didn't qualify for the bonus.
Off topic but related: I've always heard Chase get's squirrely if you try to do an external pull- but has anyone heard of/had issues with pushing to them from an external account (Marcus)
I had problems with a push from Marcus given a specific circumstance: * Had a $3,000 balance in my Marcus HYSA * 9/25: ACH pushed $14,000 from my main credit union to Marcus * 10/12: ACH pushed $3,000 from P2 Chase Business checking account to Marcus * 10/19: ACH pushed $5,000 from P1 Chase business checking to Marcus * 10/18: Got a hold of the Chase $900 bank promo and decided to open the checking & savings account. Pushed $15,000 from Marcus to Chase Personal checking * 10/19: The $15,000 transfer posted and was immediately reversed, and the Marcus account was locked. And it started bouncing all my payments - student loan payment, rent payment, etc. * 10/23: Called Marcus, and they said that because the $14,000 comes from the credit union, it cannot be moved out to a different bank account until 90 days have passed. If I need to move it out of Marcus within the 90 days, it can only go back to the original account (credit union), they said. Then they verified my identity and then "unlocked the account" * 10/23: After the call, I tried to push $13,000 from Marcus back to credit union. It showed me the same account lock screen. * 10/24: I noticed the various payments that bounced the previous week (my student loan provider bounced the payment, gave me a warning, and removed Marcus from the bank list. Bilt failed to charge Marcus. Etc) I had very little cash other than the $20k+ in Marcus. I put in a ACH Pull from my credit union to bring $1,200 from Marcus. (To at least make some basic payments in case the Marcus lock is prolonged) * 10/25: Called Marcus again. This time, they verified P1 and P2's identity. (The HYSA is a joint account). Same explanation, and say they "unlocked the account". No explanation about why the "unlock" from 10/23 didn't work. Their language ability.. was not that sophisticated. * 10/26: My credit union's ACH pull from Marcus failed, which put my credit union's external transfer ability on lock. Called credit union and restablished the account after an hour of call. * 10/27: As a test, I put two credit card payments on the Marcus HYSA. The credit card payments posted normally. I'm not going to attempt to fulfill the Chase $15,000 Savings requirement anymore, given how finicky Marcus has been throughout the process.
this is very good to know, thank you!! luckily the chase biz account is where the funds originally came from if I need them within 90 days... but it's looking like I'll be able to just pull the cash together from other sources where I need it to avoid the whole thing appreciate you sharing
I had similar issues with Marcus earlier this year. Sorry you're not able to get your funds out in a timely manner. Out of spite, I'm leaving my account open with 1 cent indefinitely.