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Banks classifying ACH and Direct Deposits...
Posted 03 April 2005 - 11:51 PM
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)
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)
Salem Five (FW)
Washington Mutual (FW)
Banks where paypal does NOT count as direct deposit:
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UPDATE: 4/9/05 lsufanatic (FW) has this nice thread, but I think some of the info is outdated...the stuff from FW has been parenthesied...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.
Posted 06 April 2005 - 02:20 PM
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.
Posted 06 April 2005 - 02:25 PM
Posted 06 April 2005 - 06:37 PM
BTW, I phrased the "any bank" because I considered paypal seperate from banks.
Posted 12 April 2005 - 02:21 PM
do u need direct deposit to use ING and the other ACHs or w/e?
oh yea hey i'm new!
Posted 12 October 2005 - 08:36 PM
Meadows Credit Union sure is picky on what counts as direct deposit...sigh...oh well.