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Please don't put this in the old direst deposit post on this topic - that post is from 2006 - nobody will read it, its 2013. The 2006 info is outdated. I know this has been covered in another thread but as I read thru it, it mostly talks about who accepts ING Direct which is now Capital One 360 and PayPal as ACH (DD). But the truth is, after multiple transactions, ING Direct is almost always showing up as a transfer and when you transfer money into them for making the transfer, there's a long hold time esp. when you add in the weekends. To make matters worse, they only allow 2 external accounts assuming you use your regular bank as one to move cash in and out. Another pet peeve I have is they ask you 4 security questions when adding a new account and every time they ask a 4 phone numbers security question and most of the time the numbers are over 20 years old - then you get locked out and have to go thru a security lock out process on the toll free. I checked a phone number I got wrong and it was from when I was in college at 19 years old - I'm 55! Anyway what other banks are folks using? Take into account that we all know that different banks process differently so you'll never have a really high success rate(please don't post an aggressive reply about how impossible it is). I was using HSBC for awhile - you could use any amount of external accounts - really easy to set up - no holds - fast processing - success rate was pretty good but lately all I see are transfers on my online activity - the last 3 as a matter of fact and the bonuses were $150 so I have to look elsewhere.
I've targeted Emigrant Direct - heard good things about them anybody have experience with them? I'm checking with them to see how many external accts, you can have.
I don't want to deal with PayPal - they'll barrage me with other products and reports
There has to be some other banks beside the old ING Direct (which hasn't worked for in my repeated experience and maybe now using Capital One's system) and Pay Pal.

What other banks are working? Thanks!

Member Summary
Most Recent Posts
Without reading the whole thread...my cap one 360 push shows up as a direct deposit in my Chase account. Not sure if thi... (more)

ivo09 (Mar. 30, 2013 @ 8:10p) |

You're the one who's been stuck on ING for 8 years, I've never used them for anything aside from the $50 bonus to open a... (more)

Glitch99 (Mar. 30, 2013 @ 9:39p) |

I do not understand; it sounds like you stayed with ING over 20 years ?

xoneinax (Apr. 04, 2013 @ 5:16p) |

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Not sure what the title of the thread as to do with your post.

What exactly are you looking for at a bank? The ING/Cap1 hold is exactly the same as any other bank and is governed by the Fed.

seawolf21 said:   Not sure what the title of the thread as to do with your post.

What exactly are you looking for at a bank? The ING/Cap1 hold is exactly the same as any other bank and is governed by the Fed.


PNC and Citi have no hold on funds, and some banks I have an account with hold funds for five days. Thats a pretty wide range of regulation.

If you initiate the transfer from the receiving bank, the receiving bank will place a hold on it.
If you initiate the transfer from the funding bank, the receiving bank will not hold.

For example: If I initiate a transfer on ingdirect.com for transfer from my external linked account into ING/Cap1, ING/Cap1 will place a hold on it (you will accure interest but you may not withdraw or transfer that amount out). HSBC/Citi/Schwab does the same (if you were to initiate a deposit into HSBC/Citi/Schwab from their websites.)

If I went to Schwab.com and tell it to transfer from Schwab to ING, ING will not hold.

http://www.federalreserve.gov/pubs/regcc/regcc.htm

I have initiated transfers from both PNC and Citi and neither of them have the hold. Alliant also comes to mind with having no hold on incoming transfers.

Transferring from Huntington Bank to Chase satisfies Chases DD requirement. I pay it from Huntington's bill pay to my account/routing number at Chase.

i'm looking for what i can do to meet chase's DD requirement on a $200 bonus, so this thread should be pretty helpful.

mjoply said:   I have initiated transfers from both PNC and Citi and neither of them have the hold. Alliant also comes to mind with having no hold on incoming transfers.

The bank is taking the risk of a dispute from the funding institution. I think Citi places daily and month limits.

Apologies, I'm referring to bank or credit union promotions where the specific bank or credit union require direct deposit. Some folks transfer $ from banks / institutions ex. Paypal or ING Direct (now Capital One360) into the bank or credit union. These sometimes show up as ACH transactions in the bank activity history which some banks will interpret as a direct deposit and sometimes it will show as a Direct Deposit and the bonus gets paid to you. However sometimes it will show as a transfer and the bank will not pay the bonus.

Some savings banks seem to have a higher frequency of showing as an ACH or Direct deposit. THAT"S WHAT I & OTHERS ARE LOOKING FOR - the purpose of this post - to find out what specific bank(s) are working frequently

THANKS!

bad news on Emigrant Direct - only 2 external accounts allowed

http://www.fatwallet.com/forums/finance/432086/

I don't know why you are even starting this thread. There is plenty of newer information in the previous thread.

Mods please lock this thread as this topic is already extensively covered in the link provided my Maddtbeagle.

I'm further down the road - over 50 Banks & Credit union bonuses completed. Like I said, I have used ING Direct real world many times and its coming up as transfer too much and don't forget you can only have 2 links at a time with them and many promos require you to have direct deposits up 3 mos., 6mos., to a year - so good luck waving that 2006 ING Direct list flag if you're happy with making $150 a year or so, maybe. Not my business.
Look, what I'm getting at is for folks in this forum to share info on other banks who can have multiple external accounts and have a good frequency of doing transfers and showing up in the promo banks' activity as ACH or direct deposit -- period. If there are forum members who understand this and want to share and respond on this level feel free and thanks!

babcock307 said:   
Look, what I'm getting at is for folks in this forum to share info on other banks who can have multiple external accounts and have a good frequency of doing transfers and showing up in the promo banks' activity as ACH or direct deposit -- period. If there are forum members who understand this and want to share and respond on this level feel free and thanks!
Look, what you need to understand is that it's the receiving bank that determines what qualifies and what doesnt. So you are trying to use a meaningless key; just use the referenced thread, and if your receiving bank is not listed then try it and report the results.

Mods, please keep this thread - this thread refers to the opposite side of the transactions in bank promos - it has nothing to do with the 2005 post.
I'm looking for other banks whose transfers show up as ACHs and Direct Deposits besides the skimpy list of 2 provided. One isn't even a bank and Cash edge is hard to understand (my opinion only).
The 8 year old post the 2 members above are referring to is a list of banks who are on the other side of the transaction - that do or don't list the transfers from ING Direct or PayPal as ACHs OR Direct Deposits.
In my experience - over 50 promos completed - ING can only work 2 banks at a time and works less than 50% of the time - that 2005 post list is a tiny proportion of the total number of banks out there offering promotions - also BECAUSE ITS OUTDATED 8 YEARS, CREDIT UNIONS HAVE ENTERED THE BONUS - PROMOTION MARKET LIKE GANGBUSTERS AND NOW MATCH THE BANK PROMOTIONS 2-3 - WHY ISN'T THERE A CREDIT UNION LIST? I appreciate the other members not wanting redundancy - makes perfect sense but this topic is a tremendous money maker and many forum members would benefit.

Glitch99 - please don't tell me what I already know and have seen when I completed 50 bonuses promotions and by the way I don't work for you or the forum - Be useful and list banks that have a high frequency of getting posted as ACH & DDs - What you need to understand is staying with ING for 8 years is meaningless and you need to be more creative and report your results. Thanks!

-

babcock307 said:   
Banks that show transfers as Direct Deposits


Please update your first post to list some of the 50 banks and credit unions you are talking about

Glitch99 said:   Look, what you need to understand is that it's the receiving bank that determines what qualifies and what doesnt
yeah, the bank initiating the transfer does not do anything special

babcock307 said:   Glitch99 - please don't tell me what I already know and have seen when I completed 50 bonuses promotions and by the way I don't work for you or the forum - Be useful and list banks that have a high frequency of getting posted as ACH & DDs - What you need to understand is staying with ING for 8 years is meaningless and you need to be more creative and report your results. Thanks!

We don't work for you either. Goodbye.

Alcibiades said:   Glitch99 said:   Look, what you need to understand is that it's the receiving bank that determines what qualifies and what doesnt
yeah, the bank initiating the transfer does not do anything special

Well, there must something *special* going on, no ? Otherwise I could just set-up a recurring push from ALLY for the same dollar amount on the same date every month. Does the initiating institution send the receiving institution some kind of formal notification that an Auto Direct Deposit is being established ?

HBax said:   Alcibiades said:   Glitch99 said:   Look, what you need to understand is that it's the receiving bank that determines what qualifies and what doesnt
yeah, the bank initiating the transfer does not do anything special

Well, there must something *special* going on, no ? Otherwise I could just set-up a recurring push from ALLY for the same dollar amount on the same date every month. Does the initiating institution send the receiving institution some kind of formal notification that an Auto Direct Deposit is being established ?


I do agree with HBax a little on this. Some people report certain institutions transfers triggering a bonus or avoiding a fee and some institutions don't. Some will say your name and the amount, some say transfer without a name. So the sending institution must code their transfers a certain way and the receiving institution must be set up to read certain coded transfers as a direct deposit.

The Receiver is the last word on what will and will not be accepted as "direct deposit", but like you say, perhaps some Sender institutions may complete more (or enough) ACH transfer fields such that the systems running on a certain Receiver institution accept it as direct deposit

mjoply said:   Some people report certain institutions transfers triggering a bonus or avoiding a fee
A weird situation is BoA:
The same transfer that qualifies as Direct Deposit to waive a monthly fee at BoA will not qualify to earn an account opening bonus dependent upon a Direct Deposit.

Without reading the whole thread...my cap one 360 push shows up as a direct deposit in my Chase account. Not sure if this is the info the op wants. I haven't tried with other banks but Cap One 360 -> Chase makes them waive my monthly maintenance fee.

babcock307 said:   Glitch99 - please don't tell me what I already know
If you already know, why the heck are you asking?
and have seen when I completed 50 bonuses promotions and by the way I don't work for you or the forum
Neither do I, yet you keep expecting me to do your legwork for you. And by the way, you're 50 bonuses havent totaled my net gain from promotions last month alone, so quit trying to brag....
- Be useful and list banks that have a high frequency of getting posted as ACH & DDs
That depends on the destination of the transfer, as you've been repeatedly told, but they're all "ACH transfers". And if you've done "50 bonuses", then you should have some pretty substantial results to report...
- What you need to understand is staying with ING for 8 years is meaningless and you need to be more creative and report your results
You're the one who's been stuck on ING for 8 years, I've never used them for anything aside from the $50 bonus to open an account a couple years ago... And there are plenty of results reported in the thread you keep dismissing as "outdated" - it may have been started 8 years ago, but it was updated with current information as recently as last month.

Maybe what you should be looking for is a thread of the best ACH hub accounts...

babcock307 said:   ING Direct is almost always showing up as a transfer and when you transfer money into them for making the transfer, there's a long hold time esp. when you add in the weekends. To make matters worse, they only allow 2 external accounts assuming you use your regular bank as one to move cash in and out. Another pet peeve I have is they ask you 4 security questions when adding a new account and every time they ask a 4 phone numbers security question and most of the time the numbers are over 20 years old - then you get locked out
babcock307 said:   What you need to understand is staying with ING for 8 years is meaningless and you need to be more creative and report your results

I do not understand; it sounds like you stayed with ING over 20 years ?



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