How To Meet Direct Deposit Requirements For Bank Promotions

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In this guide, we will provide a list of banks and credit unions with what triggers direct deposit. This information is useful as many bank bonuses that you sign up for may require you to make direct deposit(s) in order to receive the bonus. Of course if you have your paychecks deposited automatically in another account, switching it to another account can be time consuming and frustrating. See below on our guide on how to meet the direct deposit requirements for opening bank accounts, for the purpose of earning bank bonuses and promotions.

While there are a few bank bonus offers that don’t require Direct Deposit (DD), a good portion of the bonuses in higher ranges of promotions do. The terms and conditions of most bonuses state that a Direct Deposit must be an “electronic deposit of your paycheck, pension or government benefits (such as Social Security) from your employer or the government“.

Many people have no problems with the bonus requirements, however, there are many people who don’t have the option of getting their paycheck directly deposited by their employer, and many more who don’t qualify for governments benefits. Are there other options? Of course!

In addition, another reason to learn about Direct Deposit alternatives is because many of today’s checking accounts require DD in order to avoid some monthly fees.

Best Alternatives To Trigger A Direct Deposit For Bank Accounts:

Keep in mind that one singular method is NOT GUARANTEED to work for everyone, so YMMV.

First, The Options:

• ACH Transfers. Automated Clearing House (ACH) Transfers/Push are available through all banks, because it’s a free way to transfer money between financial institutions. It’s also quick, taking typically 2 business days for transfers. This is the most popular alternative to meet Direct Deposit requirements. People often try to do an ACH transfer from a different bank account they own into the new one.

• Capital One 360 Online Checking. This is an online checking product that allows for ACH transfers and Person2Person payments (a way to send money to anyone using their email – similar to Chase Quickpay). It’s a popular option to fulfill Direct Deposit requirements because you control everything online and it avoids all the monthly fees that traditional banks require. See our list of Capital One 360 Bank Deals, Bonuses, & Promotions for your chance to earn up to $1000 in bonuses.

• Paypal. You’ll find limited success using this currently. Basically, you simply add your new bank account to your PayPal profile and then withdraw the balance from your PayPal account into your bank account.

**IMPORTANT TIPS**

• Because none of the above alternatives will work with ALL bank bonuses for sure, I recommend using a combination of the above options.
• The good thing is, you’re basically just shifting your own money with really no risk of additional fees.
• If you’re planning on signing up for a good number of new bank promotions, prepare by setting up those above options first.