Here’s a 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, most of the higher value 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“.
If you have no trouble sticking with those guidelines, then it’s smooth sailing to receive your bonus money. 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.
So, what then are your options? I’ll go over some below.
*Another reason to learn about Direct Deposit alternatives is because many of today’s Checking accounts require Direct Deposit in order to avoid some monthly fees.
Best Alternatives To Trigger A Direct Deposit For Bank Accounts:
**IMPORTANT** One of the things I can’t stress enough is that one singular method is not GUARANTEED to work for everyone. All of the alternatives below are Your Mileage May Vary (YMMV).
First, The Options:
*Amazon Payments is no longer an option, so I’ve removed it from the list here.
• 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. Another plus is you can earn up to $1,000 in bonus money with referrals. Read about the Capital One 360 Bonus here.
• 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.
**MUST READ 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.
Meeting Direct Deposit Requirements For Specific Banks
Based on personal reports from popular finance forums, I’ve compiled a list of banks that often offer bonuses and which Direct Deposit alternatives have(or haven’t) worked. Please comment below with any personal experiences you might have.
Disclaimer: *This information is forever changing, so there is no guarantee these other methods of meeting Direct Deposit requirements for bonuses will always work.
*YMMV (Your Mileage May Vary)
If a bank/financial institution’s name is listed, that means using ACH through them was reported as successful.
DD = Direct Deposit
Bank | Reportedly Triggers DD | Doesn’t Trigger DD | Promo |
American Express Bluebird |
Amazon payments | ||
American Express Serve |
Ally, Paypal, CapitalOne360, Santander ACH push | ||
Anchor Bank |
Discover ACH | ||
Associated Bank |
Ally, NFCU ACH | Promo | |
Avidia Bank |
Capital One 360 ACH | ||
BancorpSouth |
Unknown | Unknown | Promo |
Bank of America |
Emigrant, E*Trade, Fidelity Money Line, HSBC, Capital One 360 | ACH Transfer, Ally ACH, Paypal, BofA user to user transfers | Promo |
Bank of New York |
HSBC, ACH | ||
Bank Of The West |
Emigrant, Capital One 360, Paypal, Schwab ACH | Promo | |
BBVA Bank |
Capital One 360 | Promo | |
BMO |
Alliant ACH, Discover ACH, Schwab Transfer | Capital One 360, Paypal | Promo |
Capital One |
Capital One 360 | Promo | |
Capital One 360 |
Alliant, ACH, Discover, Capital One 360 | Promo | |
Charter One |
Capital One 360, ACH | Paypal | |
Chase |
E*Trade ACH, Amex Serve, Amex Bluebird, Citibank | Paypal, Capital One 360, KeyBank ACH, Bank of America ACH (*previously acceptable) | Promo |
Chime |
Amex Serve | ||
Citibank |
ACH, Amazon payments, Emigrant direct, Fidelity ACH, Capital One 360 | Paypal, Schwab Brokerage money link transfers | Promo |
Citizens Bank |
ACH, Capital One 360 | Promo | |
Columbia Bank |
Paypal | ||
Commerce Bank |
Paypal, Capital One 360 | ||
Community West Credit Union |
ACH | ||
Discover |
Ally, Amazon Payments, Bank of America Business ACH, Capital One 360, Fidelity, Paypal, Serve, TD Ameritrade | Promo | |
E*Trade |
Capital One 360, ACH | Promo | |
Fifth Third Bank |
Capital One, Discover ACH, Huntington, USAA ACH, Capital One 360, Paypal, Amex Serve, Tax Refund | Promo | |
First Mark Credit Union |
ACH, Alliant ACH, Ally ACH | ||
First Niagara Bank |
Alliant ACH, Ally ACH, Amex FSB ACH, Bank of America ACH, Capital One ACH, Capital One 360 ACH, Chase ACH, Discover, HSBC ACH, Paypal, State Farm ACH | Promo | |
First Tennessee Bank |
ACH, Alliant, Ally, Capital One, Capital One 360, Capital One Savings, Charles Schwab, Chase, Discover, Paypal, Santander, Schwab Brokerage, USAA, Venmo | Promo | |
First Trade Union Bank (FTUB) |
Capital One 360 | Ally Bank ACH, Chase ACH | |
Great Lakes Credit Union |
ACH, Chase | ||
HomeStreet Bank |
Citibank, Paypal, Provident Credit Union | Promo | |
HSBC |
Capital One 360, Paypal, ACH | Promo | |
Huntington Bank |
Amazon Payments, ACH Transfers, Bluebird, Capital One, Paypal | Promo | |
KeyBank |
Paypal, ACH, Discover, Schwab Brokerage | Promo | |
Lake Michigan Credit Union |
ACH | ||
LaSalle |
ACH | ||
M&T Bank |
ACH, Ally, Ameritrade, Barclays Savings, Capital One ACH trial deposits, Capital One 360, Chase trial deposits, Chase ACH, Citi ACH trial deposits, Discover, HSBC, Paypal, Paypal trial deposits, PNC test deposits, Schwab, USAA, Venmo | Promo | |
Mango |
Alliant, Amazon Payments, Bluebird, Fidelity, Capital One 360, Paypal | ||
Meadows Credit Union |
ACH | ||
Nationwide Bank |
Amex Serve, Capital One 360 ACH, Fidelity, Paypal | Ally ACH, Random ACH | Promo |
Northshore Bank |
ACH | ||
NorthWest Savings Bank |
ACH, Schwab One | ||
NuVision Federal |
Amazon Payments, Ameritrade, Schwab Brokerage | ||
Old National Bank |
PNC ACH | Promo | |
Orange County CU |
Unknown | Promo | |
PeoplesBank |
PNC ACH | ||
Pinnacle Titans Bank |
Paypal, Discover | ||
PNC |
ACH, Alliant, Amex Serve, Amex Redbird, Capital One 360, Discover ACH, Fidelity, Paypal, Fidelity | Ally ACH, E*Trade | Promo |
Popular Bank |
Capital One 360, Chase ACH | Promo | |
Principal Bank |
Capital On 360, HSBC | ||
Regions Bank |
ACH, Capital On 360 | Promo | |
Salem Bank |
E*Trade, ACH | Paypal | |
Santander Bank |
ACH | ACH coded as P2P such as Ally, Citi, Nationwide, PNC, US Bank will not work | Promo |
SchoolsFirstCU |
Capital One 360 | ||
Security Service FCU |
Paypal | ||
SunTrust |
Ally ACH, ACH, Discover, Paypal, ING, TCF, Capital One 360 | Promo | |
TD Bank |
ACH | Promo | |
Tech CU |
Ally, Capital One 360, Charles Schwab, Citi, Discover, PNC, Schwab, Synchrony | ||
TruMark Financial |
Paypal | ||
UFBDirect |
ACH | Promo | |
US Bank |
ACH, Alliant, Paypal | Promo | |
USAA |
Capital One 360 | ACH, Paypal | Promo |
Valley Bank |
Capital One 360 | ||
Wells Fargo |
Capital One 360(maybe), Ally, Charles Schwab Money Link | Mixed reports (YMMV) | Promo |
Helpful pages for Bank Promotions:
- Bank Promotions List
- Best Chase Bank Promotions
- Soft Vs. Hard Pull When Opening Bank Accounts
- Banks That Allow Credit Card Funding The Opening Deposit
- Banks With Lowest Foreign ATM Fees
READ MORE: SEE THE BEST BANK BONUSES HERE AND THE BEST INVESTING BONUSES HERE.
Can someone confirm whether HSBC still accepts an ACH transfer from Capital One 360 as a direct deposit?? I opened an account with HSBC and keep getting the message that all that remains to qualify for the $350 bonus is to have 3 direct deposits by end of March, 2016. I already did 3 ACH transfers from Capital One 360. Plus, I’m seeing that on all other websites that list banks that accept ACH push, HSBC is not included. It’s too late for me to do 3 direct deposits otherwise and this is the highest bonus I’m going for. Concerned. Thanks.
Do you know what Santander Bank method to use with a direct deposit?
I still have the Extra20Checking account My SS check is not enough anymore. To cover 1500.00 deposit
I do ACH push from Capital One 360 checking into Santander in amount of $1500. Works every time.
Hi…my uses Wells Fargo sure pay to direct deposit my paycheck every month…would this qualify for the cash bonus promo for Chase Bank?
…sorry, my boss uses…
Danielle,
That one may be tricky because it might not show up as an ACH transfer. It’s my understanding that SurePay with Wells Fargo is their free person to person money transfer, rather than the ACH option which requires a fee.
I tried doing an ACH push from Capital One 360 into Chase to satisfy direct deposit requirement and Chase rejected it.
Does wells fargo ach works for chase and key bank promotions?
I did an ACH push from my business account (not with Chase) to my new Chase checking account. This qualified for direct deposit for purposes of avoiding fee, but not for purposes of the coupon. Bank rep tried to get it to work, but higher-ups were firm.
Hi Tony,
Do the bank people manually inspect the account to see direct deposit is satisfied or is the process automated (at least for PNC bank)?
Thanks in advance for the replies.
It’s typically automated 🙂
Hey, when you said “Capital 360” method, were you referring to its ACH or its P2P? Or both would work?
Hi, the ACH option.
I see. Do you know if the P2P works? I usually tried both ACH and P2P from Capital 360 just to be safe.
Trying both wouldn’t hurt : )
Hi Tony,
Thanks for this article! How do you actually do an ACH push from Capital One 360? Do you link your CO360 account to the bank wanting the direct deposit, then do a transfer (under the “Transfers & Deposits” tab)? Do you use the Payments > Bill Pay section, then add the bank account in question as a “company or person to pay”?
I don’t see instructions online for what actual action initiates an ACH push.
Thanks!
Bjorn
Chase has tightened up direct deposit requirements. Paycheck, pension, or government benefit. This was spelled out clearly in checking account offer they mailed. They also sent a savings account offer that did not require direct deposit.
is there any chance that a service rep is giving wrong info? Laurie, i called PNC to see if i could qualify for the Virtual Wallet promo, the rep said ACH transfers would not work. It would have to be payroll, Social Security, or pension. This conflicts the above data where it says PNC accepts all three options (ACH, Cap One 360, and Paypal)
Jeff, you’re mixing up the intended methods (what the rep will tell you) vs. what works for other people (while YMMV, it can work unbeknownst to the bank)
thanks tony, that is good to hear
love the tips, great piece here to offer some alternatives. Some of us do not have access to direct deposits through payroll because we play poker for living 🙂
for the bonus is one direct deposit to this account of such and such dollars enough for the bonus or it has to go on for a while?
Most of the offers only require one direct deposit to trigger the bonus, but the rules may state it should be an ongoing DD (until you get the bonus at least).
Just spoke with M&T bank yesterday and they said that ACH push don’t qualify as a direct deposit.
What does your your mileage may vary mean?
It basically means what works for one person may not necessarily work for another. : )
I am new to these bank bonus thing. Does the ACH transfer work then? Why would it work for some and not for others?
Technically, all the banks want the Direct Deposit requirement fulfilled via an employer paycheck or government payments. It’s just that some people will try an ACH push from another one of their accounts or a family/friend’s just to see if they can get around the requirement. Because the process is automated many times, the ACH push will go through. But because you’re sort of going around the system, reports of success can vary. For the big bonus offers, it’s safest to actually have your paycheck Direct Deposited to avoid issues. Cheers
I do not have direct deposit with a paycheck. Have you done these bank bonus offers personally? I see it says PNC works if you do an ACH through Capital one….just wanted to verify.
Yes, I’ve done the Chase and BOA bonuses in the past, although its been a few years. I triggered the bonuses with ACH pushes between the 2 banks. It’s best to do a combination of transfers just in case. It doesn’t have to be big amounts, but try doing an ACH push from another Checking account, and then a small amount from Paypal and Amazon Payments. Again, nothing is guaranteed if you’re not following the bonus’ terms and conditions, but lots of folks report success. You can check the finance forum over at Fatwallet for personal experiences from others.
Thank you Tony for your help. Have you personally done PNC? I am receiving conflicting stories with this one. If so…have you done ACH?
YMMV as in your results will vary. I opened two chase checking accounts(one for wife, one for myself) and one Cap One 360 ACH of $500 triggered the $300 bonus offer while other did not. I wouldn’t count on using these methods to avoid monthly fees.
Thanks for sharing Parker. Always best to do 2 or 3 ACH pushes from different sources just in case.
Any info. on Tobyhana Federal Credit Union?. Do they take ACH Push?. Thanks.
ACH push to First Niagara worked; they credited bonus today.
Sweet, thanks for the update Steve!
Steve…how much was your bonus?
Laurie,
He was referring to the $250 bonus, which is now back again. It was quite popular: https://www.firstniagara.com/Landing_Pages/Campaign/Checking/2014/Checking250.aspx