HOW TO CREATE A DIRECT DEPOSIT
Examples of Direct Deposit:
- Any ACH deposit totaling $500 or more for the statement period.
- Automatic deposit of Payroll – To request direct deposit of your payroll check, print the Direct Deposit Form (PDF); then complete the form and give it to your employer’s payroll department.
- Pension
- Social Security
- Other government benefits
- ACH push from an account at a different bank (Example: M&T Bank, Element Financial)
- ACH push from brokerage firm (Example: TD Ameritrade)
- Amazon Payments
- Paypal
- Digital payment service (Example: Serve)
LEARN MORE ABOUT DIRECT DEPOSITS HERE: http://www.electronicpayments.org/
Banks that count ING/Paypal/ACH push transfers as direct deposits (confirmed successes):
Bank of America (ING, Paypal, ACH push) as of 8/2012, many said no longer works other than real payroll deposit
Bank of the West (ING, Paypal)
Bank One (ING, Paypal, ACH push)
Bank of New York (ACH push)
Capital One (ING)
Charter One (ING, ACH push)
Chase (ETrade, Ally, BofA ACH push, AmEx Serve, Bluebird, AP, Citibank) – seems to only allow ACH push and only from some banks, YMMV
Citibank (ING, ACH push) – Paypal shows as transfer 10/12, ACH push from some banks no longer work as of 12/2011
Citizens Bank (ING)
Columbia Bank (Paypal)
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)
Endura Financial
HSBC (ING, Paypal, ACH push)
Huntington National Bank (ING, PayPal, ACH push(from E-Trade , HSBC) )
KeyBank (Paypal, HSBC,Ally ACH push)
LaSalle (ACH push (ETrade ))
M&I Bank (Marshall & Ilsley) (Paypal)
M&T Bank (ACH push (HSBC trial deposit))
Northshore Bank (ACH push)
PNC Bank (Paypal, ACH push, ING)
Principal Bank (ING)
Regions (ING, ACH push)
Salem Five (ACH push)
Sovereign (ACH push-ETrade , ING)
Santander (ACH Push, Ally, Alliant, American Express Serve)
SunTrust (ING, Paypal)
TD Banknorth (ACH push)
UFBDirect (ACH push)
USAA (ING)
US Bank (Paypal, ACH push)
Valley National Bank (ING)
Wachovia (ING, ACH push)
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)
Chase (no paypal, no ING, no Amazon Payments)
DCU (No longer considers HSBC transfers as direct deposit)
MeadowsCU (no ACH push)
Metropolitan National Bank(NY)
PNC Bank (no ETrade , no GMAC)
Presidential Bank
Salem Five (no PayPal)
Sovereign (no HSBC Direct) No DD bonus.
Wachovia (no Paypal)
Wells Fargo (no ING?)
FTUB (no ING, no Ally ACH push)
I tried satisfying the direct deposit requirement of Chase by doing an ACH push from Capital One 360 and it wasn’t counted as direct deposit. This was disappointing because I was trying to satisfy bonus requirements and to waive monthly fee both of which specify direct deposit. Not sure if problem is specific to doing ACH push from Capital One 360 checking. So I had to set up a direct deposit. the cumbersome way.