Thank you, this information was so helpful and Congrats on your RU-vid Journey wishing you much success and lots of fun in the process. Cheers to your success John :)
Should you use a different checking account to buy Treasury Bills and not the new checking account offering the welcome bonus that you're chasing? Does it make a difference? 6:32
Great question! You can use the new checking account to buy T-Bills as long as it has enough money in it. The direct deposit requirement (for bank bonuses) only checks against incoming deposits - it doesn't matter if the account has outgoing activity.
Have you come across any banks where the treasury direct does not work? A suggestion for your Best bank bonuses site...add what works as a DD if you have the info.
@ebaz817 My favorite is the business funds transfer, but TreasuryDirect is a close runner-up. Both of them are more consistent in triggering bonuses across the majority of offers.
@@xanryy5731 Once it matures, it will automatically be sent to the bank account you designate on the date of maturity and typically arrives in one business day.
IF a bank's fine print states "Transfers from one account to another, mobile deposits, Zelle® , or deposits made at a branch or ATM are not considered a qualifying electronic deposit." ^Then a qualifying leectronic deposit is ONLY a direct deposit from a job ? Im trying to by-pass to get a Wells Fargo Checkings bonus
While most banks' terms and conditions state this or something similar, actual experience tells us differently. See Wells Fargo data points in this post: themoneyninja.com/what-counts-as-a-direct-deposit-when-it-comes-to-bank-sign-up-bonuses/
Those terms are what most banks state, but in reality, most banks, including Wells Fargo, are more flexible in what triggers the bonus. See here for datapoints from others: themoneyninja.com/what-counts-as-a-direct-deposit-when-it-comes-to-bank-sign-up-bonuses/
I think as long as what you're referring gives good value, telling all your friends and family is another option if you don't have a social media presence.
A lot of banks require you to sign into a bank account through plaid to link the accounts and make a transfer. Do you know if that let's the other bank know that it is your account and not a real Direct Deposit? Or does it have to be a manual transfer where you input the routing and account number?
@MKW31 I've always done manual when the option is there, but I used Plaid twice when forced to and it hasn't been an issue. I'll let other chime in on their experience though. Good question!
If I start a business as you say with Novo and I register with the state and everything will I have to pay taxes as a business or individual on the bank bonuses? I will transfer my own money from personal account into Novo my business account and then just pay myself to new checking account to get bonus. Hopefully this makes sense what I'm asking
@@themoneyninjaThank you for your response I'm a newbie at this bank churring and I'm now wondering will I have to pay taxes on the money I transfer into Novo so I can do a direct deposit..Again Thanks.
@@TheKitchenworksCad It's great you're getting into it! The answer to your question is no, you do not have to pay taxes on the money you transfer to Novo. Taxes are owed on new income you make, and transferring money between you and your business bank account is not considered income. Plus, if you register a business as a sole proprietor (a business with a single owner), the business isn't a separate entity. In other words, you and your business are the same, you just have a business name.
@@pavelbarilko No. Money laundering is trying to conceal illegal funds. People transfer money between their accounts all the time. It's not an issue if the origin of the money is clean.
@ebaz817 No one is going to stop you, and it's not illegal to have an EIN first before you register a business. Having said that, I wouldn’t because it may add complexity down the road. The EIN should be connected to a business name, even for a businesss that's a sole proprietorship.
@@Bugman6587I didn't open the credit builder, but I can't imagine if they have a bonus offer that it wouldn't count a business transfer since it did with their standard account.
