Recently I wrote a piece Robinhood is Amazing for Direct Deposit and I wholeheartedly recommend everyone to at least try Robinhood (RH). In that post I had presented a screenshot of Chase counting RH as a direct deposit (DD) but I had also mentioned that it won’t work anymore. However, there is an even more hardcore trick that triggers DD requirement literally everywhere including on Chase.
Chase direct deposit through Chase business checking
In this post I will talk about making DD through Chase business checking account. All you need to do is go to “send payment” tab and then to “ACH payments” menu. If you’ve never done this before then you would go to “add a payee” where you would be prompted a number to call 1-844-200-0624.
During the call you may be asked to either enroll in “ACH payments” option or “payroll”, I suggest you choose the prior one as the latter is getting phased out in a few months. The cost for this service is $25 a month but with this feature enabled you’ve the power to DD literally anyone. If you’re the type who manages multiple accounts (SO, parents, siblings, etc) then $25/month for such a powerful feature probably sounds like a fair deal to you.
Please note that during this call you’ll be asked couple of questions like “how often do you plan to use this feature?”, “how much $ do you plan to send through this feature each month?”, and perhaps even “do you see your business growing in the future?”. I would highly recommend trying to honestly answer these answers. If you end up pushing higher volume than what you state, your Chase account may get suspended.
2 comments
Use ‘QuickPay through Zelle’ instead, and you can pay electronically, and instantly, anyone without any fee. A lot better than $25 monthly fee for paying through ACH. The recepient’s bank need to be part of the Zelle network (almost all banks are), and the recepient, through their online banking app or website, need to register their email id or phone no for receiving funds through Zelle. The good thing is, even if the recepient has not done that yet, they recieve step by step instructios to complete that registration, as soon as you send payment.
:facepalm: The point is not to send money to other people. The point is to make transactions *that count as direct deposits* to meet bonus requirements, which Zelle never does.