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ALTERNATIVE METHODS FOR DIRECT DEPOSITS

 
 
When you are getting started in the bank bonus hobby, you’ll quickly find that it’s a great idea to have alternative methods to trigger direct deposits for banks. This can be advantageous because you can use your regular paychecks and alternative ways to complete multiple bonuses at a time. Also, you may not have a regular job that pays via direct deposit so these are great ways to still meet the requirements.
 
Proven Accounts to Consider:
Fidelity CMA: This account has been working for many banks for several years, but has been limited recently (e.g., SOFI). 
Chase Business Checking: Many serious bank bonus’ers use this account. It has an ACH payment feature that works for most banks now. The feature costs $2.50 per transaction for the first 10, and then only $0.15 for each subsequent transaction per month. Note- Chase will deduct the fee at the end of the month.
Relay Business Checking: A newcomer that is showing promise. It doesn’t cost anything to make a “payment”.
 
How to Use ACH Payment Features 
 
Chase Business Checking
  1. Log in to your Chase business account.
  2. Click “Pay & Collect”.
  3. Click “Schedule ACH Payment”.
  4. Click “Add an Employee”.
  5. Add the required info:
    • Employee Name: This can be yourself if you are sending to another bank for yourself.
    • Nickname: Typically, name it the person’s name and the bank name (e.g., Daniel’s Wells Fargo).
    • Employee ID: Any series of numbers you want.
    • Receiving Bank Account Routing and Account Numbers.
  6. Schedule the payment:
    • Click the account and schedule payment tab.
    • Enter the amount and delivery method. Make sure you select Standard ACH: Employee.
    • Pick the date and then schedule payment.
That’s it!
 
 
Relay Business Checking
  1. Log in to the app.
  2. Click “Payments”.
  3. Click “Add Payees”.
  4. Enter the Payee Name and Email Address.
  5. Click the Payee’s Name and Payment Method (select ACH Next Day).
  6. Select the account you are paying from.
  7. Enter the payment amount and click continue.
  8. Confirm the payment to complete the process.
Common Questions
We get questions in the Facebook group often on how to use the payment feature, so hopefully this will be helpful.
 

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