HOW TO PROFIT CHURNING BANK ACCOUNTS IN 2019

What's up guys? It's Graham here. So really quick, I want you to ask yourself these three very important questions.

Number one: Do you want to make an easy 500 bucks?

Number two: Do you have some free time on your hands that you can kill?

And number three: Do you have some extra money lying around you won't really need over the next few months?

Well, if you answered yes to these three questions, then go ahead and smash that like button if you haven't already. But real though, if you answered yes to these questions, I have a very interesting opportunity for you to make some extra cash with very minimal effort.

And yes, I know what you're probably thinking by now, and I'm very starting to disappoint you, but it's not Bitconnect. Instead, it's an opportunity that I like to call bank account churning, and this concept is very simple for just about anyone to do.

Now, just like you can go and sign up for a credit card to get free travel, free airfare, free hotel, and a lot of other stuff with the signup bonus, you can also sign up for bank accounts and get a similar cash reward.

And also, not many people seem to know about this either since it's not really that big yet, and very few people seem to talk about it. I have a feeling that eventually, as credit card rewards slowly start to taper off, more and more people are going to start to turn to bank account churning as a way to earn some pretty decent side money.

The reason why most banks end up doing this is to try to get your attention and earn your business over other banks. By offering a cash signup bonus, it's a great way to gain loyal long-term customers.

These sorts of bonuses are constantly revolving and changing over time, which means that right now, there are so many opportunities out there that are available to you. Earning these bonuses is usually very simple. All you need to do is open up a checking or savings account with one of the banks, move your money in there for the minimum time period, which is typically between 60 and 90 days, then once you get the bonus after that time, you take your money out and then you take that money and open up another bank account elsewhere.

So basically, you could just repeat this process, and every step along the way is worth anywhere from a hundred bucks all the way up to a thousand dollars depending on the offer and how much money you have to work with.

Just think about that for a second! How much Bitconnect and avocado toast could buy you?

Of course, there are a few downsides when doing this; there's nothing really major, but these are a few things that you should absolutely be made aware of. The first one is that many banks out there require that you hold an average daily balance in that account. Otherwise, they start hitting you with maintenance fees.

And trust me when I say this, just like I'm totally against ever paying any interest on a credit card, never pay any sort of maintenance fee on a bank account. It's so unnecessary! You never need to do this, and avoid ever having a maintenance fee in your account. That’s the worst!

In order to really do this properly for free, it's really important that you understand whatever the minimum daily balance is that you need to keep in that account and make sure you do that, so you don't get hit with any sort of maintenance fee.

The second downside here is what I like to call opportunity cost in the sense that most of these savings accounts or checking accounts are not offering you a 2.25 percent interest rate like Marcus by Goldman Sachs, Lloyd, or PNC Bank. This means that you're going to be foregoing getting like a 2.25 percent interest rate in exchange for getting a much larger, more substantial cash bonus upfront.

But keep in mind that in almost every single scenario that I've ever looked at, these cash bonuses for signing up are always significantly higher than what you would be making in a high-interest savings account. So the net profit you'll get from doing this is substantially higher than keeping your money in a savings account.

Finally, number three: It ends up taking a little bit more time to do this than just opening up a credit card. Opening up a bank account is a little bit more involved—not by much if you can do it all online—but still takes a little bit more work, and when counting all of this, every single minute matters.

With that said, I did a lot of research deep on the interwebs to find the best bank account bonuses out there, and these are some of the best bonuses that are available today.

I say all of this as of January 11th, 2019. So if you're watching this in the future, some of these offers may have changed. And also, what's up future people? I hope the future is going well. But keep in mind that if these offers have changed, I will make an update video to this video with maybe some new offers in the future.

All the links to these offers are in the description, so make sure to check that out. None of them are referral links. I have no financial incentive in you signing up for any of these. I don't get anything from it. None of this video is sponsored. They're just straight-up offers that I was able to find that seemed like good deals. So that's it. I don't get money from any of that; they’re just good offers! So enjoy.

Number one: Let's start off with one of the simplest offers out there, but probably also one of the best offers out there. But just as a warning, this offer expires January 19th, 2019. So if you want this, you have to act somewhat quickly.

This offer is when you use the direct link in the description to open up a Chase Bank account. Of course, to be eligible, you must be a brand new Chase Bank customer. For new customers, you're going to be getting a $300 signup bonus when you open up a new Chase checking account and set up direct deposit. Then you can make an extra two hundred dollars if you open up a Chase savings account and deposit fifteen thousand dollars within twenty business days and keep that balance in there for 90 days.

Of course, if you do both of those, they will give you an extra $100 bonus. This means that you can make a guaranteed $600 in 90 days if you have $15,000 and maybe 20 minutes of your time to spare. That works out to be a guaranteed 4% return on your money in about 3 months, and you could do most of this just sitting at your computer.

However, just remember that the Chase checking account ends up charging you a service fee if your daily balance drops below $1,500, and also the savings account has a fee if your balance drops below $300. So you'll definitely want to keep the minimum balances in there so you don't get charged any sort of service fees whatsoever because that is awful! Just don't do that.

Otherwise, this is a great way to earn an extra like 500-600 bucks for really just 20 minutes worth of work.

Now, number two: We have another bank account that I myself use as well, and that would be Citibank. And yes, I'm aware that some people like to call them a bank, but I have yet to have any sort of issues with them besides their app just being kind of old and dated. But besides that, they have been pretty decent.

With this bank, you can earn up to $600 by opening up an account and depositing their minimum requirement. For instance, open an account, deposit $5,000, and keep it in there for 60 days, and they'll give you $200. Or open up an account, deposit $15,000 for 60 days, and make a direct deposit, and receive $500. Or if you're a baller and you just have a spare $50,000 lying around, deposit that fifteen thousand dollars for sixty days, and they'll give you six hundred dollars.

Just like every other bank out there, you do need to keep a minimum of fifteen hundred dollars in there to waive all of their monthly fees, so just go ahead and make sure you keep at least that amount in there.

Okay, so now the next one is just a pretty simple and pretty decent offer, and they're just an all-around pretty good bank account. That would be the Capital One 360 account. With just a few minutes worth of work and a ten thousand dollar deposit, you'll receive a two hundred dollar bonus within sixty days.

The reason why this offer is so good is that Capital One 360 is one of the highest interest rates out there in the savings account. When you deposit more than ten thousand dollars in there, that right now is at 2%, and I have a feeling that's gonna be going up over the next maybe month or so as interest rates go up. That is going to go up as well.

Additionally, this account is free of all fees, which is absolutely amazing! This means if you take your $200 profit and pull out all of your $10,000, you're not gonna be stuck keeping any sort of minimum balance in there or being stuck paying any fees. It's a completely free account, and this also means that you just made another two hundred dollars with really just a few minutes worth of work.

Okay, so the next one is another bank that I talked about recently. It's really being one of the best savings accounts out there because they had one of the highest interest rates out there, which right now is about 2.35%. That would be PNC Bank. You can earn up to three hundred dollars opening up an account with them as follows:

You can earn two hundred dollars by arranging qualifying direct deposits of at least two thousand dollars and making ten debit card purchases on your account. Or, you can earn three hundred dollars by arranging those direct deposits of five thousand dollars or more and making the same ten debit card purchases. Then you'll end up getting your bonus within 90 days of meeting those requirements.

Also, if you keep a minimum of $500 in those accounts, they're gonna waive any sort of service fee.

Now, really quick, here's a very cool life hack for all of you who want to get around that whole ten debit card transactions thing because that is such a huge hassle. What I have done in the past that works really well is you go on Amazon, and you just buy ten $1.00 electronic gift cards. That's it! It codes as ten debit card transactions.

You do that ten times, then you have ten bucks on Amazon that you're probably just going to spend anyway. It's super easy to do, it takes maybe like two minutes to do it. But anyway, that's how I get around it—it's pretty simple, and it's worked really well for me. So go ahead, enjoy!

Now the next one I want to mention really isn't a lot of money, but it's a very simple one for people to do if you have like an extra hundred to like fifteen hundred dollars lying around. Also, this is the bank I pretty much use for all my day-to-day stuff, and checking and savings—all my day-to-day spending is done with this—and that would be Bank of America.

If you sign up for their Advantage Plus banking and deposit a hundred dollars, they will reward you with an extra hundred bucks. Now the only thing to keep in mind with this is that they do end up charging you a twelve dollar monthly maintenance fee, which is absolutely bull, unless you keep a minimum balance in there of fifteen hundred dollars, or you set up direct deposit of at least two hundred and fifty dollars a month, or if you're a student under the age of 24.

So for all of these students out there who don't already have this account, this is probably one of the easiest things to do. Just open up an account; it's totally free. Put in 100 bucks, get 100 bucks back, keep the account open since you're a student and it's free, and just enjoy!

There you go! I get it—100 bucks isn't a lot of money, but hey, you know what? A hundred bucks is a hundred bucks!

Now, obviously, I can only mention so many in a video like this before this video just gets way too long, and people start complaining that I'm just babbling and dragging the video on just so I can hit ten minutes and get that YouTube algorithm sweet spot.

So I will just link to everything else in the description. Trust me when I say this, there are dozens of offers out there. It would be impossible for me to mention all of them.

I'm going to link to my resources in the description if you want to check out every other opportunity that's available. They start from about a hundred bucks and go all the way up to a thousand dollars or sometimes even higher depending on how much money you have to work with and depending on the offer in your state.

Of course, I just want to mention this here one last time: none of this video is sponsored. No one is paying me to make this video. I use none of my own referral links for any of those bank accounts in the description.

The only referral links I have in here are an Amazon referral link at the very bottom and also a referral link for the American Express Platinum—that’s it! Everything else is not any sort of referral link, so I don't get anything from it.

So with that said, you guys, thank you so much for watching! I really appreciate it! If you haven’t already, smash that like button. Make sure to smash that like button! Smash the subscribe button if you're not already subscribed. You should! It's free to subscribe, just hit that subscribe button!

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Thank you again for watching, and until next time!