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Faking a direct deposit from employer, etc.

dealhunter64 1,139 325 September 14, 2013 at 12:20 AM
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I have a new account with First Trade Union Bank that says you can get a $10 bonus for 5 months in a row when you receive a direct deposit of $100 or more at least once per month from an employer or outside agency. After not receiving the bonus from doing an Amazon Payments transfer two months in a row, I contacted them and they said the payment does not qualify because it is not from an "employer or SSI, disability or annuity payment."

The terms say: "A qualifying recurring direct deposit is defined as the direct deposit of a paycheck, salary, pension, or government benefits electronically deposited by an employer or an outside agency. Bank-to-bank transfers between accounts held by the same individual, transfers between accounts both held at First Trade Union Bank, and deposits made via a banking location, ATM or remote capture process (phone, tablet, scanner) do not qualify."

Does anyone know what they count that can be done without having an employer, SSI, disability, or annuity payment? Every other bank I have seen counts Amazon Payments as a direct deposit, which should be an "outside agency" in my opinion.

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#2
If biting at this kind of gimmick is important to you, I suppose you could buy an immediate annuity. I would probably just close my account with that bank for worming their way out of the deal after you transferred money in with Amazon Payments.
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#3
Quote from richardxthripp View Post :

Does anyone know what they count that can be done without having an employer, SSI, disability, or annuity payment? Every other bank I have seen counts Amazon Payments as a direct deposit, which should be an "outside agency" in my opinion.
I don't see how Amazon Payments is an outside agency, you have complete control of amounts and timing.
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#4
Quote from tennis8363 View Post :
I don't see how Amazon Payments is an outside agency, you have complete control of amounts and timing.
I don't see how that is relevant, given that many employers give you control over amounts and timing for direct deposit of paychecks.
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#5
Quote from richardxthripp View Post :
I don't see how that is relevant, given that many employers give you control over amounts and timing for direct deposit of paychecks.
Your employer lets you choose when your pay day is? Nice! Never heard of that before.

The fact of the matter is that you own the amazon payments account making a payment to your bank account. Thus there is never an outside payment made if you look at it from an account ownership perspective.
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#6
Quote from tennis8363 View Post :
Your employer lets you choose when your pay day is? Nice! Never heard of that before.

The fact of the matter is that you own the amazon payments account making a payment to your bank account. Thus there is never an outside payment made if you look at it from an account ownership perspective.
Some employers let you specify multiple direct deposit accounts, and the order you want the deposits to be processed in, i.e. one account receiving the first $100 and another receiving the remaining balance (if any). Some employers such as colleges or universities offer to withhold pay during the school year so you receive consistent pay over the summer.

The terms list some of the things that do not qualify, but the only one that even comes close to disallowing Amazon Payments is "Bank-to-bank transfers between accounts held by the same individual" -- however Amazon Payments is not a bank (as far as I know).

Furthermore, given that banks such as Chase and Fifth Third count Amazon Payments deposits for the purpose of account opening bonuses with similar terms makes it surprising that First Trade Union Bank is an exception. It would be nice if I could find someone who did this promotion without being employed or having any of the listed direct deposit options available, and would say what they did. Obviously, there is PayPal, Serve, Capital One 360, etc. that I can try, but having to do all of them just to find out none of them work would not solve my problem.
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#7
Quote from richardxthripp View Post :
Some employers let you specify multiple direct deposit accounts, and the order you want the deposits to be processed in, i.e. one account receiving the first $100 and another receiving the remaining balance (if any). Some employers such as colleges or universities offer to withhold pay during the school year so you receive consistent pay over the summer.

The terms list some of the things that do not qualify, but the only one that even comes close to disallowing Amazon Payments is "Bank-to-bank transfers between accounts held by the same individual" -- however Amazon Payments is not a bank (as far as I know).

Furthermore, given that banks such as Chase and Fifth Third count Amazon Payments deposits for the purpose of account opening bonuses with similar terms makes it surprising that First Trade Union Bank is an exception. It would be nice if I could find someone who did this promotion without being employed or having any of the listed direct deposit options available, and would say what they did. Obviously, there is PayPal, Serve, Capital One 360, etc. that I can try, but having to do all of them just to find out none of them work would not solve my problem.
Maybe call the bank and ask?
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#8
Quote from richardxthripp View Post :
I have a new account with First Trade Union Bank that says you can get a $10 bonus for 5 months in a row when you receive a direct deposit of $100 or more at least once per month from an employer or outside agency. After not receiving the bonus from doing an Amazon Payments transfer two months in a row, I contacted them and they said the payment does not qualify because it is not from an "employer or SSI, disability or annuity payment."

The terms say: "A qualifying recurring direct deposit is defined as the direct deposit of a paycheck, salary, pension, or government benefits electronically deposited by an employer or an outside agency. Bank-to-bank transfers between accounts held by the same individual, transfers between accounts both held at First Trade Union Bank, and deposits made via a banking location, ATM or remote capture process (phone, tablet, scanner) do not qualify."

Does anyone know what they count that can be done without having an employer, SSI, disability, or annuity payment? Every other bank I have seen counts Amazon Payments as a direct deposit, which should be an "outside agency" in my opinion.
The bank is going to know it is from an employer or outside agency how?
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#9
And you doing this for 10 bucks shit you must hungry then
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#10
I'm interested in this too. Were able to jump on this promotion with Direct Deposits from my other bank accounts. How do they know when qualified?
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#11
Quote from mvinuela4812 View Post :
And you doing this for 10 bucks shit you must hungry then
The promotion is $10 per month for 5 months in a row so it's $50 total, plus you can fund the account with a credit card when opening and earn credit card points.

I think I will just have to try different direct deposits and contact them and ask about each one.
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#12
Quote from richardxthripp View Post :
The terms say: "A qualifying recurring direct deposit is defined as the direct deposit of a paycheck, salary, pension, or government benefits electronically deposited by an employer or an outside agency.

Every other bank I have seen counts Amazon Payments as a direct deposit, which should be an "outside agency" in my opinion.
LOL! Of course it's an "outside agency." but it's NOT an "outside agency" that had "electronically deposited a paycheck, salary, pension, or government benefits" into your checking account.
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#13
Quote from LivninSC View Post :
The bank is going to know it is from an employer or outside agency how?
legit direct deposits are coded in a certain way. banks can program their computers to award a direct-deposit bonus when a direct deposit is transmitted with a direct-deposit code.
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Last edited by bigblkok September 15, 2013 at 02:20 PM
#14
Quote from bigblkok View Post :
banks can program their computers to award a direct-deposit bonus when a direct deposit is transmitted with a direct-deposit code.
Do you mean ACH Codes? http://www.suncorp.coop/pdfs/pdf_...e_card.pdf
By looking at the chart I can see only one relevant code - PPD, and that is for
Recurring entry for direct deposit of payroll, pension, etc.,
or for direct payment of recurring bills such as utilities,
loans, insurance, etc.
[suncorp.coop]

That means that banks cannot distinguish between payroll, pension and things like utilities, loans, insurance.
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Last edited by VladC September 15, 2013 at 03:12 PM
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#15
Ya, what the above guy said Big Grin
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