3 Ways To Fake A Direct Deposit For Bank Bonuses

[@JohnnyMoneyyy]

Excellent video. Thanks for getting right into the valuable insights and now slow-rolling us!

[@themoneyninja]

I try, appreciate the kudos Johnny!

[@JenniferA5TT]

Yes, to the point. I love it!

[@GodspeedNRGgaming]

Incredible video, sir

[@themoneyninja]

Glad you liked it!

[@emc6511]

Subscribed today; great video; looking forward to more!

[@themoneyninja]

Thank you!!! 🙏

[@AimHimud]

Excellent as always, looking forward to more!

[@themoneyninja]

Thanks Aim!

[@nyegye1606]

Could you provide some more information on the business checking account transfers? The video was not clear. You need to register your business (LLC) in a state, but many states require you to be a resident of the state in order to do so, correct? I live in Florida but there is $150 start up plus $140 annual fee. What state allows non residences to form llcs there?

[@nyegye1606]

NVM I figured it out. You need to use a registered agent service in order to not be a resident of the state you are forming and LLC in. I formed in Arizona and used a registered agent service. Total was $150 for everything. EIN will be free and I will get $40 from NOVO sign up. So cost to incorporate was $110. There will be $125 annual registered agent fee after the first year. Thanks!

[@yosoytubandolero]

Question. If I have a business account do I have to send the money as a wire or just a regular transfer should work? Asking because wire has a fee and regular transfer doesn't

[@themoneyninja]

You can just use a regular transfer! Save the wire transfer fees.

[@marynastasenko6222]

Should you use a different checking account to buy Treasury Bills and not the new checking account offering the welcome bonus that you're chasing? Does it make a difference? 6:32

[@JohnnyMoneyyy]

Wondering this as well.

[@themoneyninja]

Great question! You can use the new checking account to buy T-Bills as long as it has enough money in it. The direct deposit requirement (for bank bonuses) only checks against incoming deposits - it doesn't matter if the account has outgoing activity.

[@JohnnyMoneyyy]

@@themoneyninja Perfect. Thanks John.

[@amberswansoncleans]

Thank you, this information was so helpful and Congrats on your KZbin Journey wishing you much success and lots of fun in the process. Cheers to your success John :)

[@themoneyninja]

Thank you, Amber! Such kind words - I really appreciate it ☺

[@amberswansoncleans]

@@themoneyninja my pleasure, keep rocking out and providing great helpful content. Thank you!

[@xanryy5731]

How long does the TreasuryDirect Withdrawals take?

[@xanryy5731]

and would this work for chime

[@themoneyninja]

@@xanryy5731 Once it matures, it will automatically be sent to the bank account you designate on the date of maturity and typically arrives in one business day.

[@themoneyninja]

@@xanryy5731 Yes, it will work for Chime!

[@reachnuk]

Have you come across any banks where the treasury direct does not work? A suggestion for your Best bank bonuses site...add what works as a DD if you have the info.

[@themoneyninja]

Not yet, but I haven't used TreasuryDirect as the DD for all the offers. Great suggestion on creating data points on what works!

[@mazmx693]

Does chase accept Novo?

[@themoneyninja]

Yes, there are many data points from readers in my site stating that it does 👍

[@mazmx693]

@ thanks, very helpful, keep the videos coming!

[@MKW31]

A lot of banks require you to sign into a bank account through plaid to link the accounts and make a transfer. Do you know if that let's the other bank know that it is your account and not a real Direct Deposit? Or does it have to be a manual transfer where you input the routing and account number?

[@themoneyninja]

@MKW31 I've always done manual when the option is there, but I used Plaid twice when forced to and it hasn't been an issue. I'll let other chime in on their experience though. Good question!

[@Greg_D99]

I would think this would be more of an (potential) issue if you were pulling funds from the old bank to the new one instead of pushing funds to the new account. You’re only adding an external account to your old account. Just my opinion.

[@SaltWaterBassTv]

u the man money ninja

[@themoneyninja]

Thanks dude - I try my best!

[@LerikkP]

Can you add the link to the Chase checking bonus please?

[@themoneyninja]

@@LerikkP themoneyninja.com/chase-225-checking-bonus/

[@kylevillanavi8480]

IF a bank's fine print states "Transfers from one account to another, mobile deposits, Zelle® , or deposits made at a branch or ATM are not considered a qualifying electronic deposit." ^Then a qualifying leectronic deposit is ONLY a direct deposit from a job ? Im trying to by-pass to get a Wells Fargo Checkings bonus

[@themoneyninja]

While most banks' terms and conditions state this or something similar, actual experience tells us differently. See Wells Fargo data points in this post: themoneyninja.com/what-counts-as-a-direct-deposit-when-it-comes-to-bank-sign-up-bonuses/

[@themoneyninja]

Those terms are what most banks state, but in reality, most banks, including Wells Fargo, are more flexible in what triggers the bonus. See here for datapoints from others: themoneyninja.com/what-counts-as-a-direct-deposit-when-it-comes-to-bank-sign-up-bonuses/

[@ap2290]

Do you have any tips for maximizing referrals for someone without a KZbin channel or a big social following?

[@themoneyninja]

I think as long as what you're referring gives good value, telling all your friends and family is another option if you don't have a social media presence.

[@ebaz817]

Thanks for the video! Love how new the video is. Everyone else is outdated about this information. Which is your prefer method out of 3 methods?

[@themoneyninja]

@ebaz817 My favorite is the business funds transfer, but TreasuryDirect is a close runner-up. Both of them are more consistent in triggering bonuses across the majority of offers.

[@clinscott76]

If I start a business as you say with Novo and I register with the state and everything will I have to pay taxes as a business or individual on the bank bonuses? I will transfer my own money from personal account into Novo my business account and then just pay myself to new checking account to get bonus. Hopefully this makes sense what I'm asking

[@themoneyninja]

You pay taxes as an individual because the bonuses are under your personal bank account.

[@TheKitchenworksCad]

@@themoneyninjaThank you for your response I'm a newbie at this bank churring and I'm now wondering will I have to pay taxes on the money I transfer into Novo so I can do a direct deposit..Again Thanks.

[@themoneyninja]

@@TheKitchenworksCad It's great you're getting into it! The answer to your question is no, you do not have to pay taxes on the money you transfer to Novo. Taxes are owed on new income you make, and transferring money between you and your business bank account is not considered income. Plus, if you register a business as a sole proprietor (a business with a single owner), the business isn't a separate entity. In other words, you and your business are the same, you just have a business name.

[@pavelbarilko]

@@themoneyninjawould it be considered a money laundering to just use the account for transfers? Would it raise a red flag?

[@JohnnyMoneyyy]

@@pavelbarilko No. Money laundering is trying to conceal illegal funds. People transfer money between their accounts all the time. It's not an issue if the origin of the money is clean.

[@ebaz817]

Can we just skip to getting a free EIN number without having to get a business name?

[@themoneyninja]

@ebaz817 No one is going to stop you, and it's not illegal to have an EIN first before you register a business. Having said that, I wouldn’t because it may add complexity down the road. The EIN should be connected to a business name, even for a businesss that's a sole proprietorship.

[@ebaz817]

@@themoneyninja I'm new to this. Thank you for replying!

[@themoneyninja]

@ebaz817 Thanks for watching, hope you stick around! 👍

[@ebaz817]

@@themoneyninja could you post where you went to start the business name for $100? Maybe in your profile?

[@themoneyninja]

@@ebaz817 Absolutely! I'll update it today and let you know!

[@Bugman6587]

Will this work for getting a secure credit card for chime and go2bank?

[@themoneyninja]

@@Bugman6587 You mean the Chime and Go2bank accounts and their debit cards? The answer is yes. I received both those bonuses with this method.

[@Bugman6587]

@@themoneyninja no im talking about the secured credit builder cards they offer. Will the business ach direct deposit work?

[@Bugman6587]

@@themoneyninja so technically chime and go2bank counted the business ach transer as a direct deposit then?

[@themoneyninja]

​@@Bugman6587I didn't open the credit builder, but I can't imagine if they have a bonus offer that it wouldn't count a business transfer since it did with their standard account.

[@themoneyninja]

@@Bugman6587 Correct. It worked for me (and other readers of my website).