There’s plenty of bank account bonuses that yield tons of rewarding aspects to it, however, it must be added that most of them have an attached direct deposit requirement from payroll or government benefits. You can simply do a ACH transfer from an existing account and the majority of the time, this method would work, however, there may be instances when banks code it as P2P, in which case, you would need other methods to meet your direct deposit necessities.
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Triggering Bank Bonuses via Direct Deposit Methods:
- Tax Refund: Your tax refund does count as government payment and government benefits are almost always deemed as a qualifying direct deposit. Note that you can also split your tax refund.
- Topcashback Payout: TopCashBack is a cashback shopping portal that offers you the ability to get your funds transferred to your bank account via ACH. This seems to work more often than regular ACH from your own accounts, possibly because it’s coming from a different name.
- Prepaid cards often works where ACH has failed because it does not show up as P2P transfer.
- Withdrawal From Trading/Investing/Brokerage Platform: This would show up as investment income rather than P2P.
- Amazon Payments: Selling things on Amazon could enable you to requesting a deposit into your new bank account without the hassle of coding as P2P.
- Raise.com Payout: Raise is a third party gift card exchange. If you sell your gift cards then you should be able to request a payout to the account you’re trying to get a bonus with. Also, raise accounts are business accounts so meeting a minimum spending requirement with this method may be useful.
Conclusion:
There’s plenty of ways to trigger your bank bonus with direct deposit when ACH just doesn’t work out for you. It’s necessary to keep in mind that ACH Transfer can sometimes be coded as P2P under various banks, however, there are quite the unique ways to meeting this requirement other than doing a ACH Transfer. This may include tax refunds, gift cards, prepaid cards, TopCashBack, or even withdrawing from your investments, etc. Be sure to check out our complete list of Bank Deals for all your banking necessities!
