Would love an added point about funding with credit cards. How to avoid cash advance, which card issuers hate this for welcome bonus etc. Maybe too far on the cc side?
When you transfer from your Ally savings account via ACH, does is usually code as direct deposit? Have you had success with this? And do you have a backup if it doesn’t work? Thanks for all you do!! Definitely help us make money!
It's happened before but I think it's more so up to how the receiving bank treats it. They can tell where the money came from but don't code to differentiate between ACH and a DD so they treat it all the same is my guess
I use Sofi, no issues with transaction limits and they have high interest rates. ACH things all day long. In the context of push vs pull, some smaller banks charge to pull (Bank of the West) charges $10 to pull. In this instance I push all day long
Hey RJ do you remember that promotion from Ally bank from back in April? It was three different ones a checking account a CD and a savings. They mentioned to keep the money until April 31st at least So anytime after that can i withdraw the money especially from the savings I think I put just like 9k?
I don't recall that one honestly. Based on that I'd say you're good to move the funds. How long until they pay you? Considering April was a few months ago. If you have a copy of the terms I can take a look but I trust you on this.
@@guaparra2 Ah. i talked to a guy today who said they declined to pay. Claimed you had to be an employee of certain organizations. Which they kinda mentioned. It was up for debate and people on DoC report hearing you didn't have to. Best to message them and expect a fight.
I remember doing something like that with Chase about a month ago so basically what happens is I have a personal Chase banking account and what I did is I had my nephew open his own checking account. Then what I did was take all the money out that I was going to need for the new account. I think in the end what I ended up doing was just putting the same money back but in cash and some with bank to bank transfers
RJ if Ally Bank does start reinforcing their 6 limit rule, remember you can open multiple savings & checking accounts with them. I have 2x of each. They don't count the internal transfers against the 6 per month REG D AFAIK.
chase is so annoying with ach push/pull. Block pretty much every time so I end up Zelle myself. Opening new chase for bonus I just wrote check to myself. WF pretty easy to move money after account was month or two old.
Heads up you can't transfer Marcus funds to business accounts. They will reverse it and restrict your account. You'll have to move to a external account then transfer to the business account.
I just opened citizens bank checking & savings for a bonus of $600. Citizens bank charges $13 for 25 checks. I had to use the postcard invitation code they mailed to me. The banker said the new account address must be the same as the postcard address. The name on the postcard does not affect it.
On thing to consider is Venmo is not necessarily FDIC insured. Just pay attention to these videos and what RJ has to say on the timeline to fund the account.
Bro I have a business account and that’s how I make my bonus but my question is is all the money I transfer from my own business account taxable in MY taxes ??
Example : I do ACH so , if I transferred 10k from my business to a checking account of mine would that money be taxable since its coming as a ACH and payroll
Do the banks only file SAR if depositing cash? What about an ACH transfer of say $15k from one bank to another. (e.g. to meet certain bank/brokerage deposit requirements)
Correct, it's only for cash. With ACH they can document where the money came from. With cash, they can't so the Gov requires them to report it. You also can't break up your deposits into smaller amounts. They look at it on a rolling bases as well
@@RunonTheBank When you transfer from Wise business to your personal checking account with another bank, how do you send it from Wise "to your business" or "someone else" ?
Get started here - www.profitablecontent.com
Would love an added point about funding with credit cards. How to avoid cash advance, which card issuers hate this for welcome bonus etc. Maybe too far on the cc side?
ruclips.net/video/Y9dy9fQLazk/видео.html
Had to set this to private... long story but it has the answers you seek
When you transfer from your Ally savings account via ACH, does is usually code as direct deposit? Have you had success with this? And do you have a backup if it doesn’t work? Thanks for all you do!! Definitely help us make money!
It's happened before but I think it's more so up to how the receiving bank treats it. They can tell where the money came from but don't code to differentiate between ACH and a DD so they treat it all the same is my guess
I use Sofi, no issues with transaction limits and they have high interest rates. ACH things all day long. In the context of push vs pull, some smaller banks charge to pull (Bank of the West) charges $10 to pull. In this instance I push all day long
That's insane... I thought BofA was bad charging $3 for ACH. $10 to move your own money...
Hey RJ do you remember that promotion from Ally bank from back in April?
It was three different ones a checking account a CD and a savings.
They mentioned to keep the money until April 31st at least
So anytime after that can i withdraw the money especially from the savings I think I put just like 9k?
I don't recall that one honestly. Based on that I'd say you're good to move the funds. How long until they pay you? Considering April was a few months ago. If you have a copy of the terms I can take a look but I trust you on this.
@@RunonTheBank my bad I meant alliant
Something tells me they won't pay out. I remember when opening the account they changed the bonus terms.
@@guaparra2 Ah. i talked to a guy today who said they declined to pay. Claimed you had to be an employee of certain organizations. Which they kinda mentioned. It was up for debate and people on DoC report hearing you didn't have to.
Best to message them and expect a fight.
@@RunonTheBank well you got bs from winden it was a matter of time before we did
I remember doing something like that with Chase about a month ago so basically what happens is I have a personal Chase banking account and what I did is I had my nephew open his own checking account.
Then what I did was take all the money out that I was going to need for the new account.
I think in the end what I ended up doing was just putting the same money back but in cash and some with bank to bank transfers
as long as it leaves the bank for a min then you should be set.
RJ if Ally Bank does start reinforcing their 6 limit rule, remember you can open multiple savings & checking accounts with them. I have 2x of each. They don't count the internal transfers against the 6 per month REG D AFAIK.
That's probably what I'll do. Don't think we'll ever see a checking bonus. They don't even advertise the checking product.
chase is so annoying with ach push/pull. Block pretty much every time so I end up Zelle myself. Opening new chase for bonus I just wrote check to myself. WF pretty easy to move money after account was month or two old.
Chase deposit accounts are awful. I have one but they're so picky that it's not worth doing many transactions to/from
Thanks! 👍
Heads up you can't transfer Marcus funds to business accounts. They will reverse it and restrict your account. You'll have to move to a external account then transfer to the business account.
I just opened citizens bank checking & savings for a bonus of $600. Citizens bank charges $13 for 25 checks. I had to use the postcard invitation code they mailed to me. The banker said the new account address must be the same as the postcard address. The name on the postcard does not affect it.
Makes sense, those are targeted offers. People were selling them on Ebay at one point
On thing to consider is Venmo is not necessarily FDIC insured.
Just pay attention to these videos and what RJ has to say on the timeline to fund the account.
Good point as always sir
So i use AMEX savings and checking. They work very similar to Ally Bank where you can have as many savings accounts as you want. I've liked it so far
oh yea, good point. Amex does let you have a bunch of accounts. That can come in handy with the 6 transfer limit
Bro I have a business account and that’s how I make my bonus but my question is is all the money I transfer from my own business account taxable in MY taxes ??
Example : I do ACH so , if I transferred 10k from my business to a checking account of mine would that money be taxable since its coming as a ACH and payroll
I treat them as transfers and the documentation of two accounts you own would support it in my opinion.
Been wanting to open an ally account but not without a sign up bonus and I know those usually are targeted emailers. Anyone know how to get targeted?
I've never seen one myself. I've seen that one savings bonus i mentioned and they have targeted brokerage bonuses.
How much did you go for with Chase Business?
I did the $30k tier for $750
@@RunonTheBank Thank you
RJ you trail off a bit at the 7:00 mark, FYI.
Probably bored myself... lol thanks
Do the banks only file SAR if depositing cash? What about an ACH transfer of say $15k from one bank to another. (e.g. to meet certain bank/brokerage deposit requirements)
Cash only, ach transfers don't trigger it
Correct, it's only for cash. With ACH they can document where the money came from. With cash, they can't so the Gov requires them to report it. You also can't break up your deposits into smaller amounts. They look at it on a rolling bases as well
Based RJ
Do banks care if you transfer money from a personal to a business account? Wise does.
Most don't. I think Marcus was one that did care
@@RunonTheBank Thank you so much.
@@RunonTheBank When you transfer from Wise business to your personal checking account with another bank, how do you send it from Wise "to your business" or "someone else" ?
@@RunonTheBank Just to add, how do you transfer from your personal Wise account to your business Wise as yourself?
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A video that never gets old
What's up?
In case anyone is wondering, Bank of America got rid of their ACH fees last month.
Interesting. I have a BofA checking as a requirement of preferred rewards. Never tried to send money from them. Thanks for the update
@@RunonTheBank I only knew about it because I was looking at my most recent statement and happened to see some info about it.
In the early 2000's Chase always charged $3 per ACH transfer. Glad I didn't follow his advice and never use them again...:)
BofA charge $3.00 for ACH pushes.
Gross. I have a checking account as a requirement of preferred rewards. only keep $5 in it and that won't be changing now