This site focuses on two main things when it comes to bank accounts:
We also have a page dedicated to hub accounts (e.g what account you should use for your regular banking) that lists limits and fees for the more popular accounts.
Contents
The Doctor of Credit Difference
Unlike other sites we take putting our readers first seriously. One of the ways we do this is by not using any bank account affiliate links, this means that unlike other sites we don’t get paid whenever we recommend a particular bank/account over another one. This means we can remain truly unbiased and only promote the best accounts to our readers, this is easily reflected by the fact the highest saving accounts rates we have published is 1.5% APY for a basic account and 5% APY for a rewards account. Significantly higher than other sites.
General Information
- Bank account references pages. If there is page regarding bank accounts that you’d be interested in, it will be found here.
- Bank Accounts That Can Be Funded With A Credit Card. Useful for meeting minimum spend requirements on credit card sign up bonuses.
- List Of Methods Banks Count As Direct Deposits. One of the most common requirements for bonuses/high interest accounts is a direct deposit, this lists what work arounds did/didn’t work.
- Is Opening A Bank Account A Soft Or Hard Pull? If they do a hard pull it will affect your credit score, so it’s good to know if they will/won’t do one.
- Introduction To ChexSystems. ChexSystems is something that a lot of financial institutions use to determine if you should or shouldn’t be approved for an account. Learn more about it here.
- What Banks & Credit Unions Do/Don’t Pull ChexSystems? Not all financial institutions do use ChexSystems, this is a list of those that do and don’t.
- Banks & Credit Unions That Are ChexSystems Inquiry Sensitive. A list of financial institutions that are/aren’t sensitive to ChexSystems inquiries. Generally each account you open will result in one inquiry, if a financial institutions is sensitive they might not approve you if you’ve sign up for a lot of accounts
- PSA: Don’t Call The Bank. Calling the bank especially when it comes to sign up bonuses isn’t a good idea, read this to find out why.
- Complete List Of Ways To Close Bank Accounts At Each Bank. After you’ve opened an account it’s always a good idea to have an exit plan, especially if you’ve only opened it for
- Banks That Allow/Don’t Allow Out Of State Checking Applications. A lot of banks require you to live, work, worship or attend school in a certain state to be eligible for an account. This is a list of if that requirement is enforced, especially if you open the account at a branch.
Bank Account Bonuses
- A Beginners Guide To Bank Account Bonuses. If you’re new to bank account bonuses then this is where you should start, a very thorough guide to everything you need to know.
- Best Bank Account Bonuses. A list of the best current sign up bonuses for deposit accounts.
- Common Bank Bonus Misconceptions + Why You Should Give Them A Go. There are a lot of misconceptions about bank account bonuses, this lists some of these misconceptions and also lists why you should give them a go.
- Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
- PSA: Don’t Call The Bank. Calling the bank especially when it comes to sign up bonuses isn’t a good idea, read this to find out why.
- How To Use Our Direct Deposit Page For Bank Bonuses Page. One of the most common requirements for a sign up bonus is a direct deposit, this shows you how to use our direct deposit data point page.
- How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes? This depends a lot on whether a bank is ChexSystems sensitive or not, but this is a good rule of thumb.
High Interest Savings Accounts
- We list the highest currently available rates here. This is split up into various sub categories such as basic high interest accounts (e.g they have no requirements to receive the rate) and rewards accounts (e.g these do have requirements to receive the rate such as debit card transactions or direct deposits). We also break it down by accounts that are available nationwide and those that are not.
View Comments (85)
Interesting information. Can my accountant help me to get the highest bonus? I want to get more bonus. How can I ensure it?
I would love to see an article discussing debit cards with rewards.
Lots of utility companies are only accepting debit cards now and would love to get some info on that.
https://www.doctorofcredit.com/complete-list-of-rewards-earning-debit-cards/
I got a mailer for a $200 bonus with Citi that explicitly accepts Zelle, Venmo, and Paypal deposits as well as standard DDs. I'm in the bay area, so maybe it's regional.
https://citi.com/directdepositbonus
so you send yourself money?
You must be new here
sounds a lot like their $300 bonus (for enhanced dd like zelle etc)- might want to check if that one's still active/available before going for the targeted one
I received a targeted email from Webull for a $10 to $3,000 bonus for depositing to a cash management account and maintaining the balance until 5/7/24. There are multiple tiers to this bonus from a $10 to $3000 bonus. The $300 bonus tier for depositing $25k seems to be the best bonus. The cash management account also earns 5% APY and is FDIC insured.
https://act.webull.com/actv2/routine/assetladder/index.html
"Net Deposit = The sum of funds deposited or transferred into your account between 09/25/2023 12:00 AM ET- 10/30/2023 11:59 PM ET minus funds withdrawn or transferred out of your account from 09/25/2023 12:00 AM ET-5/7/2024 11:59 PM ET. You can, however, use the deposited funds to trade. Losses due to trading, market volatility, or margin debit balance will not affect the calculated net deposit."
Just heard about a 7% account at On Path Federal Credit union on up to $10k balance with 15 debit card purchases per month. I didn't find anything here on that bank.
https://www.beonpath.org/personal/checking-new-/high-yield-rewards-checking/
Chex Sensitive?
Shawn shared this in 'Contact US' on Sep 25, 2023
https://www.doctorofcredit.com/contact-us/#comment-1702223
Suggestion: a page for Banks That Have Inactivity/Dormancy Fees. Including the amount of time and the requirements on how to avoid if known (e.g., log in, make an internal transfer, external deposit, etc.). Maybe with a section on shopping portals. These are an incredible annoyance and mental load to track down individually, in my personal experience.
To start it off, Fairwinds CU has a dormancy fee of $10/mo if the balance is $500 after 12 months of inactivity. "Any activity" should prevent a dormancy fee. https://www.doctorofcredit.com/fl-fairwinds-credit-union-100-referral-bonus/#comment-1462608 https://www.doctorofcredit.com/fl-fairwinds-credit-union-100-referral-bonus/#comment-1239878
Service CU has an inactivity fee of $50 for the checking account after 12 months of no activity (i.e., no deposits or withdrawals). Withdrawals from an external account may not count, but internal transfers might. https://www.doctorofcredit.com/service-credit-union-100-checking-bonus-direct-deposit-not-required/#comment-1063679 https://www.doctorofcredit.com/service-credit-union-100-checking-bonus-direct-deposit-not-required/#comment-1363448
Can you teach me bro I'm having problem to learn
I need to learn some one should help me please
scu is really easy to close with btw, did it through the chat in like 2 minutes
NASB has an orange banner at the top of the site stating that if u want to move large amounts of money out u have to verify ur id thru secure email and copy of ur drivers license ( i spoke with them). looks like they're having trouble competing with the other bks. or they may have hacking/theft problems ?
When a bank requires two direct deposits but they don't state the amount in their T&C's, what is a safe amount to deposit to qualify? $100? $250$, $500? Or should I just call them and ask?
I do 251 each and it works, not sure what banks are you going to apply but that should be it, depends on the total for the two, look for the fine print
Is the 4% interest for Current only available if you also have a checking account?
South State Bank bonus back until 6/30!