PNC Checking Bonus Still not Paid

[Beast26]

I used Wells Fargo to transfer $5k to my PNC account which coded as deposit "dda to dda.". It has been 2 months and 2 weeks as of yesterday and I still haven't been paid the $400.  Does Wells Fargo still work for them?  What is the longest wait time for PNC to pay out the checking bonus?

[CreditCuriosity]

Correct me if i am wrong doesn't PNC like most other financial insts. need to be usually payroll type of activity being direct deposit vs direct deposit account from one bank to direct deposit to another.  How most subs work for checking accounts is they want payroll deposit although can be tricked in many ways.

[BearsCubsOtters]

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@CreditCuriosity wrote:

Correct me if i am wrong doesn't PNC like most other financial insts. need to be usually payroll type of activity being direct deposit vs direct deposit account from one bank to direct deposit to another.  How most subs work for checking accounts is they want payroll deposit although can be tricked in many ways.

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^^This

In 2020, I attempted to get a $400 sign-up bonus with PNC by using ACH via NFCU. Three times back and fourth with $5,000. Each time it did code as direct deposit; HOWEVER, as stated above by CreditCuriousity, PNC is very aware of this 'game' and typically only counts real direct deposits ("A qualifying direct deposit is a recurring electronic deposit made by an employer or an outside agency. Transfers made from one account to another or deposits made via a branch, ATM, online transfer, mobile device or the mail are not eligible to meet this requirement.") towards the requirement. That quote directly from PNC's website for Virtual Wallet. Needless to say, at the end of the waiting period, I did not get the bonus.

At the time (this was four years ago mind you) some people were having luck with Capital One 360 and Chase counting towards the requirement. Doctor of Credit has a valuable tool of "List of Methods Banks Count as Direct Deposit" where people post their results of getting around 'real' direct deposits. Looks like Chase may still work but Capital One 360 no longer does...

[Beast26]

Most of these bank bonuses can be triggered with a transfer from one bank to another and there is a cheat sheet that is updated from time to time about which banks work.

[CreditCuriosity]

Don't count on that.  Have a back up plan and move direct deposit for a pay check ot two assuming that will cover it and then transfer it out.  Otherwise use more better methods and the bank you choose isn't one of the good methods to trigger a direct deposit and it is clearly showing you a DDA to a DDA account transfer which WILL NOT trigger the bonus.  Come up with your plan B.

[Beast26]

I'm just going to try 2 different banks with transfers from the list.  My only mistake is being lazy and only doing the transfer with Wells Fargo.  I should have used 2 different banks on the list.  You don't really need a real direct deposit for most bank bonuses even though they state that you do.  I've already made over $3500 this year and I've been using transfers the whole time.  Sometimes they update the list of banks that don't work.  I'll just use another transfer with my other bank.

[CreditCuriosity]

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@Beast26 wrote:

I'm just going to try 2 different banks with transfers from the list.  My only mistake is being lazy and only doing the transfer with Wells Fargo.  I should have used 2 different banks on the list.  You don't really need a real direct deposit for most bank bonuses even though they state that you do.  I've already made over $3500 this year and I've been using transfers the whole time.  Sometimes they update the list of banks that don't work.  I'll just use another transfer with my other bank.

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If it shows as DDA to DDA it means it didn't work.  $3500 is good although don't forget you gotta pay taxes on that.

[Beast26]

I'm not new to bank bonuses I know the ins and outs.  Either way it's money I didn't work for.  

[FicoMike0]

Keep us up to date. I thought about doing the pnc. I've had pretty good luck with using ach push from fidelity. I've read that some are using  https://www.treasurydirect.gov/

[Beast26]

@CreditCuriosity @If it shows "dda to dda" and coded as deposit it DOES mean that it counted correctly as a direct deposit.  I just rechecked the datapoints and people who have been paid out the bonus posted those words in quotation marks.  Not sure where you are getting your information from . The time frames that people are getting paid out their bonus varies.  Most of the people on the datapoints are using transfers as I am