5 replies to this topic

[vivyip]

I'm not sure if this is a repost and I hope no one will mind too much if I post this list...

Please feel free to add any banks that you know accepts/considers paypal, virtualbank, ING Direct, and any other ACH's as direct deposits.

Banks that accept any bank's ACH (even as little as $1) as direct deposit:
Bank of America (FW...I'm not sure about this one)
Bank of the West (FW)
BankOne (FW)
Citibank
CharterOne (to get bonus, the ACH should be over $50...the rest can be normal)
Citizens Bank (FW...I thin this follows the CharterOne rules)
Commerce Bank (FW)
Compass Bank (FW)
E-Trade Bank (FW)
HSBC (FW)
M&T Bank
NetBank
PNC Bank
Salem Five (FW)
Wachovia (FW)
Washington Mutual (FW)

Banks where paypal does NOT count as direct deposit:
CharterOne
Netbank
Presidential Bank
Wachovia
Wells Fargo
Meadows Credit Union


Banks that are extremely picky on the direct deposit issue (it must be termed "payroll" or something):
Meadows Credit Union


I would greatly appreciate if people can help me out on the paypal, virtual bank and ING Direct. Also, could people clear up my confusion on the following banks, please? Thank you

Bank of America (some people say this bank doesn't consider paypal as direct deposit)
PNC Bank (some people have reported the paypal counts as direct deposit at first, but some of the ACH deposits seem to be differentiated...input needed please...)

UPDATE: 4/9/05 lsufanatic (FW) has this nice thread, but I think some of the info is outdated...the stuff from FW has been parenthesied...

Thank you all again for reading this post.

[ez2nve]

[COLOR=blue]Charter One does not accept "paypal" as direct deposit even tho it is an ACH and over $50.....they state:


The direct deposit bonus will be deposited into the checking account the following business day after the first ACH direct deposit in the full amount of your payroll, pension, or social security check. (Paypal and tax refunds are excluded.) Direct deposit must be received prior to July 31, 2005 to be eligible for bonus. Bonus will be reported as interest earned and is subject to 1099 reporting. This is a limited time offer and is subject to change.

[ez2nve]

[COLOR=blue] Funds from a PAYPAL account cannot be verified in a NETBANK account, for some reason PAYPAL says they dont support banks such as NETBANK because of their verification process. I was, however, able to deposit funds (via ACH transfer) into my NETBANK account thru my MEADOWS CU acct.

[vivyip]

thank you for the paypal help. Paypal list has been started

BTW, I phrased the "any bank" because I considered paypal seperate from banks.

[mehmeh]

does anyone know if this list includes Greenpoint Bank here in NY? not too excited if i have to pay that 6 dollar charge for 'direct deposit' that otherwise isn't happening since i'm not employed

do u need direct deposit to use ING and the other ACHs or w/e?

anyone know?

oh yea hey i'm new!

[vivyip]

slightly updated...

Meadows Credit Union sure is picky on what counts as direct deposit...sigh...oh well.