Summary of 3 Ways To Fake A Direct Deposit
Main Financial Strategies:
- Bank Transfer: Use a transfer from another bank to qualify for direct deposit requirements.
- Brokerage Account Transfer: Transfer funds from a brokerage account, which can often count as a direct deposit.
- Business Checking Account Transfer: Utilize a business checking account to make ACH transfers that qualify as direct deposits.
Methodology/Step-by-Step Guide:
- Bank Transfer Method:
- Check resources like Doctor of Credit for eligible banks.
- Log into the account of the bank from which you are transferring (e.g., Chase or PayPal).
- Initiate a transfer to the target bank (e.g., Citibank) without being logged into the target bank account.
- Brokerage Account Transfer Method:
- Ensure you're logged into your brokerage account (e.g., Charles Schwab).
- Transfer money from the brokerage account to the target bank account (e.g., Capital One).
- Confirm that the transfer type is correctly labeled to qualify as a direct deposit.
- Business Checking Account Method:
- Obtain an EIN number from the IRS for free.
- Register a business (e.g., in Wyoming for low taxes) for about $150.
- Open a business checking account (e.g., with Novo) to facilitate ACH transfers.
- Fund the business account from a personal bank account and make payments that count as direct deposits.
Resources Mentioned:
- Doctor of Credit: A website providing information on bank bonuses and qualifying transfers.
- Brokerage Accounts: Recommendations include Charles Schwab, TD Ameritrade, and Robinhood.
Presenters/Sources:
The presenter of the video is not explicitly named, but they reference their own experiences and insights, along with external resources like Doctor of Credit and various brokerage platforms.
Notable Quotes
— 09:47 — « Anyone can get a business checking account to make these direct deposits and I guess if you stuck around this long in the video, you deserve that knowledge. »
— 14:37 — « It's absolutely worth 150 dollars to set up a business to get more of these bonuses and consistently get direct deposits. »
Category
Business and Finance