Bank Direct question?

Discussion in 'American Airlines | AAdvantage' started by scotchjeff, Oct 7, 2011.  |  Print Topic

  1. scotchjeff

    scotchjeff Active Member

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    How long does it take for the Bank Direct miles to show up in my AA acct? If I sign up tomorrow and drop some $$$ in that acct how long will it take to transfer?

    Dec 2011 is the cut off for AA miles that will count towards LT status....I am going back and forth on whether or not I can pull off LT Gold by Dec 2012.

    Thanks!
     
  2. viguera
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    viguera Gold Member

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    It took 6 days from when I opened my account until the miles showed up on my AA account.

    Of course that might have been that I hit a certain sweep window or something, but I'm fairly sure I got the miles for opening the account and the referral even before I received my checks in the mail.
     
  3. NYBanker
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    NYBanker Gold Member

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    They're pretty quick.
     
  4. JetsettingEric
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    JetsettingEric Silver Member

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    just keep in mind the sign-up bonuses take time and have minimum requirements. I remember gary suggested on his blog (viewfromthewing) how to use the shopping mall as a way to earn points quickly using gift cards.
     
  5. gleff
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    gleff Co-founder

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    Your miles from average monthly balance will post during the first week of the following month.
     
  6. Gary Steiger
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    Gary Steiger Silver Member

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    In my experience, it takes a long time between online application and actually opening an account, then longer to fund it. They use snail mail to send you papers you must sign, then you use snail mail to send these back. Any error on the papers, repeat.

    Miles post promptly after the statement closes at the end of the month.

    If you apply right away and are very careful filling out the forms they mail to you, you probably have time to get this done by the end of the month.

    You can get extra miles be being referred by someone. I can't - I have reached my 10 referral limit, a limit they recently started to enforce.
     
  7. FLYERIL
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    FLYERIL Silver Member

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    You can start the process on-line and print the papers off yourself and mail them in, which does shorten the process by a few days. There is a place where you must initial the type of account that is not highlighted and I almost missed.
     
  8. Gary Steiger
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    Gary Steiger Silver Member

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    That's the one I missed. Cost me more than a week.
     
  9. Slow_Mustang
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    Slow_Mustang Silver Member

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    20K miles/month is worth all the trouble to go through (including the foul ups). To get the points in a hurry to beat the deadline for getting AA status is another story.
     
  10. HaveMilesWillTravel
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    HaveMilesWillTravel Gold Member

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    I just looked at Bank Direct (hoping they'd have an iPhone check scanning app) and noticed that the 10k direct deposit bonus has these conditions:

    http://www.bankdirect.com/programs/aafaq.aspx?q=1

    In order to receive the one-time 10,000 mileage credit for direct deposit, you must deposit your FULL payroll direct deposit from ALL income sources to a BankDirect Mileage Checking Account. If you have more than one employer, you must deposit the FULL amount of your entire payroll direct deposit from EACH and EVERY income source in order to receive the one-time 10,000 mileage credit. Your direct deposit from ALL income sources must be deposited for 3 consecutive months in order to earn the one-time 10,000 mileage credit. The one-time 10,000 mileage credit is paid out after you have reached the minimum 3 month consecutive deposit requirement from ALL income sources.

    How do they verify that one is depositing the full payroll from all income sources? With my employer I can split up my salary among many different direct deposit accounts, and I assume that the total amount won't be disclosed to each bank.
     
    JohnDeere19 likes this.
  11. free101girl
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    free101girl Silver Member

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    Opened CD on 8/27. Took around 2 weeks to finalize everything: you have to send in paperwork and then they take awhile to process it. Got miles on 10/5. Apparently once the account is open, miles post on the first business day after the 3rd of the month.
     
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  12. HaveMilesWillTravel
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    HaveMilesWillTravel Gold Member

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    Wait... CD? I just took a look and if I put $20k in a 2-year CD, do I really get 480k RDM? (1000 RDM * 20 * 24 months) Given the current interest rates, this seems like a no-brainer... what am I missing?
     
  13. FLYERIL
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    FLYERIL Silver Member

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    I don't have a CD, just a checking account; however I believe you are misreading the CD info. It says that you get 1,000 miles per $1,000 put in a two-year CD. Consequently, $20,000 would yield 20,000 miles total.
    Your post did get me to read the CD rules to determine if I wanted to get in on a CD.
     
  14. HaveMilesWillTravel
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    HaveMilesWillTravel Gold Member

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    LOL... yeah, I read a "per month" into the T&Cs where there wasn't one. And obviously shouldn't be one.
     
  15. sun
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    sun Silver Member

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    They ask for income details in the application. They can also ask for a copy of your paystub.
     
  16. JohnDeere19
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    JohnDeere19 Gold Member

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    That's a bit over the top as far as requirements go!
     
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  17. HaveMilesWillTravel
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    HaveMilesWillTravel Gold Member

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    I have never had a bank ask for a pay stub when I opened a bank account. I am certainly not going to mail Bank Direct one or for that matter disclose my income. It's after all a checking or savings account, not a mortgage loan.
     
  18. sun
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    sun Silver Member

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    I agree that what they are asking is excessive. There are reports on FT of BD denying the direct deposit bonus pending receipt of paystub. This is a recent change. I got the old bonus with a direct deposit of $100. I also didn't have to give them irrelevant info when I opened my account and when they sent me a letter around the time they changed the product asking for all these details, I didn't bother replying.
     

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