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Pamela Rappaport said
on 6/3/2009 Good to know!
emilyream said
on 2/13/2009 Thats good news. :) someone else also said bank of america counts paypal as a direct deposit. I just sent 5 dollars to paypal to send back to myself :]http://209.85.173.132/search?q=cache:JV2a6b1vc1kJ:www.fatwallet.com/forums/finance/432086 paypal direct deposit
emilyream said
on 2/13/2009 Thats good news. :) someone else also said bank of america counts paypal as a direct deposit. I just sent 5 dollars to paypal to send back to myself :]http://209.85.173.132/search?q=cache:JV2a6b1vc1kJ:www.fatwallet.com/forums/finance/432086 paypal direct deposit
WebSavvyMom said
on 2/13/2009 Emily, here is part what I wrote on my blog re how I discovered the tip:I actually found it out by chance. I called Bank of America customer service at the end of last year (end of 2007), and asked if they can waive my MyAcess account maintenance fee, since I am a long time Bank of America customer, and they have did this once for me for the last six month. The lady on the phone told me that she can’t do that, unless there is electronic money transfer to my account. Since she said “electronic transfer”, I asked her if Paypal transfer is OK? She said:”Yes, as long as it is electronic transfer.”So My understanding is Bank of America considers paypal transfer/withdraw is electronic transfer (which makes sense). And I have been doing the monthly $5 paypal transfer to our BoA joint account (Hubby and I) and have been avoiding the monthly fee every month. I am positive it's the Paypal tranfer
emilyream said
on 2/13/2009 I just read about qualifying direct deposits in the "Personal schedule of Fees" (effect december 1, 2008) That I got when opening my account. It says qualifying direct deposits are electronic deposits of periodic payments-- such as salary, pension, social security and supplemental security income benefits or other regular monthly income-- made into your checking account through the automated clearing house by your employer or other payer. Other transfers and deposits do not qualify for the reduction in the monthly maintenance fee. non- qualifying transfers and deposits include:teller deposits, wire transfers, non-periodic direct deposits (such as tax refunds), online banking transfers, telephone transfers, atm transfers and deposits, and other similar transfers or deposits. It's paypal like a wire transfer? I think you just lucked out WebSavvyMom. This is effective since dec 1 2008,
WebSavvyMom said
on 2/12/2009 emilyream, I am not sure why. I am still doing this every single month, and not paying any bank monthly fee!!
emilyream said
on 2/12/2009 how come this has low ratings? Does it not really work?? ...
emilyream said
on 2/10/2009 This is very helpful! I'm so happy I don't have to pay a stupid fee just because my job won't do direct deposit. Thanks :]
Pamela Rappaport said
on 11/29/2008 That is great to know! Thanks!