Direct deposit - Are these cheat methods considered a scam?

[pcslookout]

My work doesn't do direct deposit but I suggested to them that they should. My bank only has free banking accounts if you use direct deposit.

What else can you get in direct deposit per a month besides a paycheck?

 

[DaWhim]

you are gonna thank me for this

According to fatwallet:

Banks that count ING/Paypal/ACH push transfers as direct deposits (confirmed successes):

Bank of America (ING, Paypal, ACH push)
Bank of the West (ING, Paypal)
Bank One (ING, Paypal, ACH push)
Bank of New York (ACH push)
Charter One (ING, ACH push)
Chase (ING, Paypal, ACH push)
Citibank (ING, Paypal, ACH push)
Citizens Bank (ING)
Commerce Bank (ING, Paypal) - refers to one in the northeast
Commerce Bank (ING) - refers to the one in Missouri
Compass Bank (ING)
E-Trade Bank (ING, ACH push)
HSBC (ING, Paypal, ACH push)
Huntington National Bank (PayPal)
PNC Bank (Paypal, ACH push)
Principal Bank (ING)
Salem Five (ACH push)
SunTrust (ING, Paypal)
TD Banknorth (ACH push)
UFBDirect (ACH push)
USAA (ING)
US Bank (Paypal, ACH push)
Wachovia (ING)
Washington Mutual (ING, ED, Paypal)
Wells Fargo (ING?) - One report that ING is counted as DD, one report that it isn?t?YMMV

Banks that don?t count ING/Paypal/ACH push transfers as direct deposits (confirmed failures):

Charter One (no Paypal)
Presidential Bank
Wells Fargo (no ING?)
Wachovia (no Paypal)
PNC Bank
MeadowsCU (no ACH push)

 

[pcslookout]

DaWhim thank you but whats ACH push and ED?

 

[pcslookout]

Is using these cheat methods considered a scam or wrong by the banks ?

Is there any other way to do it?

 

[intogamer]

Originally posted by: pcslookout
Is using these cheat methods considered a scam or wrong by the banks ?

Is there any other way to do it?

No its not something the bank can call the police on. Just a harmless loophole

Theres no other way to do it. Unless you're an employer yourself and can Direct Deposit yourself? You'll probably need a Business Bank account of some sort.

Whats the difference with ACH push. Just any ACH transfer?

 

[pcslookout]

Originally posted by: intogamer

Originally posted by: pcslookout
Is using these cheat methods considered a scam or wrong by the banks ?

Is there any other way to do it?

No its not something the bank can call the police on. Just a harmless loophole

Theres no other way to do it. Unless you're an employer yourself and can Direct Deposit yourself? You'll probably need a Business Bank account of some sort.

Whats the difference with ACH push. Just any ACH transfer?

How can you be so sure ?

There are a few other ways but not sure if I could do them.

 

[intogamer]

Originally posted by: pcslookout

Originally posted by: intogamer

Originally posted by: pcslookout
Is using these cheat methods considered a scam or wrong by the banks ?

Is there any other way to do it?

No its not something the bank can call the police on. Just a harmless loophole

Theres no other way to do it. Unless you're an employer yourself and can Direct Deposit yourself? You'll probably need a Business Bank account of some sort.

Whats the difference with ACH push. Just any ACH transfer?

How can you be so sure ?

There are a few other ways but not sure if I could do them.

uh because its basically the bank counts it as a direct deposit. Which most of the time usually comes from you employer.

Someone correct me if I'm wrong

 

[DaWhim]

Originally posted by: pcslookout
DaWhim thank you but whats ACH push and ED?

ACH = automatic clearing house (google for detail)

basically, it is how all the online transfer are done. ACH push is you send money to your checking from ING or any other online bank (bank can't tell if it is from your payroll or something else).

ED should be emigrate direct, it is something just like ING

 

[Parasitic]

So how does this work?
You go to your ING Direct and set it up so that you deposite an amount automatically every month to your B&M account?

 

[Dulanic]

Yes it works, and no some banks dont mind. I opened a 2nd free checking to use just for paypal, I specifically asked the rep on the phone at my bank if this works and is it OK. They stated it was fine, as long as there is money coming in from someone other then them they don't really care.

 

[RossMAN]

pcslookout - Which bank?

My credit union doesn't have any direct deposit requirements, minimum blances or fees

 

[Kelemvor]

What company doesn't have Direct Deposit these days? Most places I've worked in the past few years forced everyone to have Direct Deposit.

 

[JeffreyLebowski]

This should be a hot deal. Anytime a bank offers XXX amount with a new account, open it and set paypal/ING/ED to put $1 a month in the account.