Welcome to Bank Bonus Links

Everyone has different financial goals. Using bank bonuses as passive income can help you achieve those goals. While you won’t get rich with bank bonuses, they can help add to your bottom line or help pay a bill or two. Whether you need a little extra cash every month or want to add money to your savings account, taking advantage of bank incentives is great way to help you get there.

It can be easy to want to start applying at as many banks as you can when you first start bonus hunting, but too many applications in a short period of time can lead to a high Chex Systems count, which can quickly result in banks denying your applications. Banks use Chex Systems to see how many other banks you have applied to recently (as  well as check for fraudulent activity). It’s best to pace your applications and research before applying at each institution.

Just like you monitor your credit report, you should also monitor your Chex Systems report. If you haven’t already, register with Chex Systems and periodically review your report, which is an important part of protecting your finances. You might also find it helpful to sign up with On Alert to get notified of any changes to your report.

Every promotion will vary from bank to bank. As such, the requirements for each bonus will vary. For checking bonuses, in most cases they will require a direct deposit or multiple direct deposits over a certain time period, such as recurring deposits over a period of 3 months, for example. Always be sure to thoroughly read the terms and conditions so you don’t short yourself out of the bonus.

Churning is the act of repeatedly taking advantage of a bank‘s intro bonus over an extended period of time, usually over a year or more. For example, many bank bonus terms state that you cannot partake in their promotion if you have had an account in the last 12 months. With that in mind, the idea of churning is that once you have completed the bank bonus requirements and the bonus has been credited to your account, it is best to close the account (as long as their is no early account termination fee clause), thus starting the 12-month timer on when you can take advantage of the next bonus round.

Ready to make some money? Head over to my Bonus Referral Links section to find some great bank bonus offers. If you have any questions or concerns, feel free to contact me and I’ll do my best to assist with an issues you may encounter. Best of luck on your bank bonus journey!