How to self-generate a direct deposit?
 

What is the preferred method to simulate a direct deposit to qualify for some of the new bank account bonuses?

For example, Cap1 sent me an offer for $200 if I open a Premier Rewards Checking account and submit a direct deposit within 90 days of opening.

I am an American citizen living in China and don't have a US employer to submit a direct deposit. I understand I can open a company and sign up for an online payroll service.

What is your preferred method to self-generate a direct deposit?

Thanks.

Transferring money from your current bank account into the new account should do it. Just make sure you meet the minimum amount the direct deposit has to be.

As far as I know, these offers don't differentiate between a payroll direct deposit and one you initiate yourself as a one-time.

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Thread moved from MilesBuzz to Credit Card Programs which serves as the discussion area for misc financial strategies that generate miles or points.

Do an ACH initiated by a different bank. Online banks will usually do this for free. Maybe do it once a month until you get the bonus.

I know Bank of American will let you send from a BofA personal to any other bank account for $3. YMMV when it comes trying to simulate a direct deposit. Some of the banks are smarter than you think. There's an old thread on FatWallet that discusses all the different banks and what they will let pass as a direct deposit. One sure way to do it is to set up payroll, but that gets really messy fast.

Wait, people still pay for inter-institutional transfers?

Man I hate B of A.

ACH does not work at Chase at least when I tried it in 2008. Lost 15k CO miles because of that.

Thank the ideas. I am aware of doing a payment from my own bank, though as some have mentioned that might or might not work.

Can any of you confirm that you have done it yourself and it worked?