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.