Great job it’s November 2023 BMO bank in Florida is giving $600 with 7500 deposit if you have the money and thank you this is very helpful especially when you’re a senior on a fixed income
These bonuses are real. I’ve started opening up accounts for bonuses around June 2021 and I’m already up over $3000 in bonuses. Each bank has different criteria so make sure to read the fine print. In the fine print will usually tell you that the bonus is reported to the IRS as interest and you will get a 1099-int or 1099- MIs so you will pay a little in taxes, but what you gain in bonuses outweighs that amount. I’m here to learn which banks trigger direct deposit that qualify because not all do.
I have read some of the terms and conditions of these bonus banks. It seems like some only accept payroll transfers, etc. Have you had any of them deny the bonus?
Hay Dan, if you know any other banks that trigger Direct deposit that worked for you to get bonuses please post a video. It would be much appreciated. Thanks
There are some banks that will charge you for the bonus if you close your account with in 6 months. But you can just leave your account open for 6 months and pay the fee to have the account and still make a profit.
When I send the direct deposit do I have to let it sit in the account for any amount of time??? Or can I take my DD MONEY AND USE IT/ transfer it and use for another bank bonus
That would depend on terms and conditions but I did 3 of these last year for $1,200 total and took the money out within a couple of days for a new offer.
Faking direct deposits sounds like an easy way to *not* get a bonus you have to wait nearly a half year to get. Even if this "works" it needs hours of research and detailed accounting. I took at look at the lists found at 5:47 and it's terribly complex. And how do you know if your "direct deposit" meets the bonus requirement? Does the bank confirm it's legit or do you have to ask them?
Can't check with the bank, they'll realize it's not a legit direct deposit. With that said, a lot of people do get these bonuses with bank transfers and other methods. The hours of research has already been crowdsourced by other people in this hobby. Can't really tell if the direct deposit qualifies since it varies from different banks. But that's where the crowdsourced information comes in. I recently made a video explaining this in "3 ways to fake a direct deposit"
Also be aware bank may issue a 1099 unlike credit card bonuses. Because credit cards typically require you to spend certain amount of money to receive a bonus thus irs makes a distinction which bonuses are taxable and which are not. Not a tax advice. Consult with a tax Profesional first.
For anyone 18 or older, it's really easy to get a bank account. There's really no limit that to the amount of accounts you have. I would start with a no fee bank account like Schwab, Capital One, Aspiration (the no fee version), SoFi, and even CashApp and Venmo have debit card options. Typically there's always a bonus for signing up, so look for something with bonus or if your friends have a referral code you can hook them up. I got some too linked to some of my reviews.
Incentivizing customers to bank with them. Not surprising since most people just open 1 bank account and that's what they use forever. Try one bonus out and you'll get hooked.
Typically you need to direct deposit with them which is typically a 1 time affair for most people, you link your bank with your job and thats it, the bonus makes them stand out from the crowd, so when you decide who to bank with you of course choose the guy that will give you money
I was thinking about applying for an EIN and an LLC but not sure it is worth paying a yearly fee. Even if your LLC is in Wyoming, it still costs $60 every year. What are your thoughts here?@@FullValueDan
