How to meet minimum number of debit transactions

[audreyh1]

I have 10 monthly bills & 1 auto transfer a month. How do you set it to your debit card instead of checking account?

I think you have to do it at the vendor’s site.

 

[Dreamer]

I used to do this with a credit union account. It was okay at first, but got old quickly. I ended up closing the credit union account. I would rather use a credit card.

 

[JustCurious]

So, no way am I doing debit transactions with MY money. I don't care if you offered 5 or 6%.

+1

 

[JoeWras]

Good point. The biggest game of all was it requires a debit card.

I don't do debit cards.

The transaction fee (hidden to the user) is a money maker for the CU.

 

[hopefullyoneday]

I get 4% from my bank and need 15 debit transactions and can easily do that with gas purchases and going to the store for fresh produce on the way home from work. If I miss the limits I just don't get the interest THAT month.

 

[hopefullyoneday]

My card is also alerted to my phone so every purchase. I know about when it happens as my phone is always chirping when I grab the grocery bags or put the fuel nozzle back in the holder.

 

[COcheesehead]

I get 4% from my bank and need 15 debit transactions and can easily do that with gas purchases and going to the store for fresh produce on the way home from work. If I miss the limits I just don't get the interest THAT month.

4%?

 

[kgtest]

etrade offering $600 if you move a quarter million. Such a competition for our deposits these days. Move a mil, they give you $2500. Must keep the money in for 6months. If you are at a re-balance point might be worth the look.



Move $15k to CitiGroup Check+Saving and get $400.



Deposit $25k into a Huntington Accelerated bsn acnt and earn $750 after 60days.



Basically move and keep put for 90days $290k and you yield a 1.25% return on your investment. Do the song and dance 2x in a year and you earn 2.5%. Nope not worth it when you can likely buy the 9month CD.

 

[COcheesehead]

etrade offering $600 if you move a quarter million. Such a competition for our deposits these days. Move a mil, they give you $2500. Must keep the money in for 6months. If you are at a re-balance point might be worth the look.



Move $15k to CitiGroup Check+Saving and get $400.



Deposit $25k into a Huntington Accelerated bsn acnt and earn $750 after 60days.



Basically move and keep put for 90days $290k and you yield a 1.25% return on your investment. Do the song and dance 2x in a year and you earn 2.5%. Nope not worth it when you can likely buy the 9month CD.

Fidelity used to offer stuff like this. I got cash for depositing the proceeds from the sale of a house while we were waiting for the new one to be built. I also got a couple Apple gift cards, but then they stopped doing it. They only offer free trades now.
Just an FYI, they will report the bonus so you pay taxes on it as misc income.

 

[ExFlyBoy5]

Fidelity used to offer stuff like this. I got cash for depositing the proceeds from the sale of a house while we were waiting for the new one to be built. I also got a couple Apple gift cards, but then they stopped doing it. They only offer free trades now.
Just an FYI, they will report the bonus so you pay taxes on it as misc income.

That's very interesting. We will soon be in the process of selling two homes and moving to a family owned rental before we will most likely build. I have wondered what to do with the sizable amount of cash that I would want to access within about 6 months or so after selling and some of these deals seem like a decent idea. Not a bad problem to have, I guess.

 

[COcheesehead]

That's very interesting. We will soon be in the process of selling two homes and moving to a family owned rental before we will most likely build. I have wondered what to do with the sizable amount of cash that I would want to access within about 6 months or so after selling and some of these deals seem like a decent idea. Not a bad problem to have, I guess.

Just make sure you check the amount of time it needs to stay in the account.

 

[mamadogmamacat]

seems to be a lot of misunderstandings all around here.
first, the CU credit card is just as "true" as any other credit card that one may obtain from AMEX or Cap One or any such institution. it is not "tied" to ones money. In this case is a VISA with the CU name on it. It is paid separately. In my case the CU pays 2.5% on the first 25k, 0.5% on any balance over that if one does the following, and almost forgot i also get 1% cash back on credit card charges, so another reason to use the credit card only:

1) has at least one ACH transaction per month (pension deposit counts for this, also regular or one time transfers from brokerage)
2) logs in to checking at least once per month
3) electronic statements, not paper
4) min of 15 charges on credit card or debit or both combined for a total of $500 min

All this is easy peasy for me and does not seem like a "game" at all, but to each his own

for me it is just a way to get enough interest to pay say the water bill for "free" each month, so i guess you can call that a "game" if you must. The rest of my charges get done with cards that give me travel points or a larger cash back

 

[sanfanciscotreat]

WF Bank sent me a debit card when I moved and opened an account. I gave it back to them. Credit card is much safer.

 

[gayl]

I withdraw $100 at an ATM or at the grocers a few times a month. How do you do that without a debit card?

 

[Walt34]

I withdraw $100 at an ATM or at the grocers a few times a month. How do you do that without a debit card?

We have just an ATM card but no debit card. Ask at the bank and they should be able to do that for you.

Like some others, I won't have a debit card. The consumer protections on a credit card are far and away much better than with a debit card.

 

[gayl]

Huh. I wasn't aware that an ATM card would work at the grocers. Learn something new everyday (or at a bank other than the one the card is from)

 

[braumeister]

Huh. I wasn't aware that an ATM card would work at the grocers. Learn something new everyday (or at a bank other than the one the card is from)

I don't think an ATM card will work at the grocers. They are just for getting cash out of your account. You can often use an ATM card at a different bank, but you'll probably pay a fee to do so.

An ATM card doesn't have the Visa or MasterCard logo on it, just the name of the bank or credit union that issued it. A debit card has one of those logos.

 

[gayl]

So no reason to call USAA and ask for a 3rd card

 

[COcheesehead]

seems to be a lot of misunderstandings all around here.
first, the CU credit card is just as "true" as any other credit card that one may obtain from AMEX or Cap One or any such institution. it is not "tied" to ones money. In this case is a VISA with the CU name on it. It is paid separately. In my case the CU pays 2.5% on the first 25k, 0.5% on any balance over that if one does the following, and almost forgot i also get 1% cash back on credit card charges, so another reason to use the credit card only:

1) has at least one ACH transaction per month (pension deposit counts for this, also regular or one time transfers from brokerage)
2) logs in to checking at least once per month
3) electronic statements, not paper
4) min of 15 charges on credit card or debit or both combined for a total of $500 min

All this is easy peasy for me and does not seem like a "game" at all, but to each his own

for me it is just a way to get enough interest to pay say the water bill for "free" each month, so i guess you can call that a "game" if you must. The rest of my charges get done with cards that give me travel points or a larger cash back

The OP said debit card, not credit card.

 

[COcheesehead]

I don't think an ATM card will work at the grocers. They are just for getting cash out of your account. You can often use an ATM card at a different bank, but you'll probably pay a fee to do so.

An ATM card doesn't have the Visa or MasterCard logo on it, just the name of the bank or credit union that issued it. A debit card has one of those logos.

You can use a debit card at the grocers and my debit card has a Visa logo on it.

I think it depends on the bank. Years ago, like 25, I had an ATM only card.

 

[braumeister]

No, that is what I was trying to say.

The definition of an ATM Card is that is doesn't have the Visa or MC logo and can only be used to get cash from your account.

Debit cards have the logo and can be used for purchases at stores.

 

[Walt34]

I don't think an ATM card will work at the grocers. They are just for getting cash out of your account. You can often use an ATM card at a different bank, but you'll probably pay a fee to do so.

That's how it works for us. I've never used the ATM card anywhere but the bank that issued it but DW did once at the beach with her sister. The fee was $2 or $3 but that was cheaper than the 40-mile round trip to the bank branch at that location.

I've heard that the Sheetz (combination gas station/convenience store/fast food stores) around here don't charge the fee, figuring that you'll spend some of that cash in the store so they eat the cost. I'll have to try that out someday.

 

[COcheesehead]

No, that is what I was trying to say.

The definition of an ATM Card is that is doesn't have the Visa or MC logo and can only be used to get cash from your account.

Debit cards have the logo and can be used for purchases at stores.

I have a Visa debit card issued by Fidelity that I can use at ATM’s (no fee by the way) and for transactions.

 

[braumeister]

I have a Visa debit card issued by Fidelity that I can use at ATM’s (no fee by the way) and for transactions.

I don't think you're getting it yet.

Of course you can use your debit card to get cash at an ATM as well as at stores. The point is that you can't use an ATM card at a store.

 

[brucethebroker]

Regarding OP's original question, how to get enough debit uses to hit the 12 a month:
Purchase your gas at $5-$10 a stop-don't fill up.
Buy a big Coke/coffee while there on a separate transaction. If you do this 2X a week, you will have 8 of your 12 transactions by the end of the month. Take spouse to lunch 1X a week, and each pay with your own debit card. There....easy, peasy.