Checking Bonuses
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For fun (and profit!) I’m trying to see how many checking bonuses I can get. Since it’s super easy to set up direct deposit at work - it’s just through a web portal - I can add, remove, or change the amount going into bank accounts at will. I got to keep track of what accounts I have open. Just to get an idea of what I’ve done, here’s a table:
| Bank | Start Date | Initial Deposit | Requirements | Completed Date | Bonus Received | Bonus |
|---|---|---|---|---|---|---|
| Chase | 4/1/2016 | $25 | direct deposit | 4/22/2016 | 4/26/2016 | $150 |
| Fifth Third | 3/31/2016 | $50 | three bill pays | 4/15/2016 | 4/18/2016 | $200 |
I’ll probably update this table as time goes on, unless I don’t do anymore bonuses. I’m going to close the Fifth Third one soon, but Chase needs to be open for at least six months or they’ll take my bonus away. And yes, I know I have to pay taxes on these. Right now my Federal bracket is at 25% and my Ohio bracket is at 3.465%. Since these are interest payments (1099-INT) I don’t pay any local tax on them.
1 comment for Checking Bonuses
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Hmmm… I never did ever update this table. However, I do talk about the money I made from checking bonuses in the following two end-of-year side-income reports:
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