BankDirect Referral Thread (AA Miles in Lieu of Interest)

The time has come for the inevitable BankDirect referral thread!

Here's the deal: BankDirect offers a mileage checking account with American Airlines (and some other mileage-earning accounts, also with AA). To keep it simple, these accounts earn one mile per $10 per month, so 1,000 miles per $10,000 per month. That earning ratio is limited to $200,000 or 20,000 miles per month, per AA number, effectively.

Beyond the miles-instead-of-interest earnings, new customers earn 1,000 miles for opening and funding the account, and an additional 1,000 miles if they are referred by a current account holder, who also receives 1,000 miles for the referral. Hence the point of this thread. There are also bonuses for direct deposit and bill pay.

Here's a full list of the ways to earn mileage with BankDirect:

http://www.bankdirect.com/products/checkingmileage.aspx

So if you are looking to open a new BankDirect account, please get a referral from a MilePoint member! It's good for you, and it's good for someone here!

Just post below that you're looking for a referral, and some mile-hungry member (hopefully me!) will send you a "new conversation" which is basically a personal message, asking for your email address, and then, with your email address, they'll send you a referral through the BankDirect site, and they'll message you back the pertinent info you need to complete the deal (you'll need the email address and first and last name of the current account holder).

One final note: there are changes happening in the world of miles-instead-of-interest, and, as with prior changes, it seems that having open accounts before the changes take effect means you are grandfathered in to some of the better parts of these deals. So if you're on the fence, at least open an account now and put some money in (the minimum is only $100), even if you're just doing it to get the account opened under the more beneficial rules.

Excellent idea, I also offer referrals for the mere price of free.

Can't argue with free! I'm gonna go ahead and match that offer. Hopefully, no one will try to one-up us.

I'm glad to provide a referral to anyone who needs one. Just send a PM.

(I thought we already had a thread for this?)

The bonuses are nice if you don't mind the $2500 minimum:

1. 1000 miles for opening the account
2. 1000 for being referred
3. 10,000 for direct deposit
4. 5,000 for using bill pay for 12 months.
5. 5,000 for using your BankDirect Visa CheckCard

1. 1000 miles for opening the account
2. 1000 for being referred
3. 5000 for direct deposit
4. 2000 for using bill pay for 12 months.

That's 22000 9000 miles plus 100 miles per month per $1000 balance. Miles post during the 1st week of each month. I received my first bonus just a few weeks after funding the account. Both parties get the 1000 mile referral bonus,

Actually, if you look at the letter I stole from FT, direct deposit is now going to be 10,000 miles, bill pay is 5,000, and there's another 5,000 for using a Visa check card.

As far as having another thread, I dug around, and I couldn't find one.

I got that letter in the mail today. (and am also happy to provide referrals via 'conversations')

I still never got credit for adding Direct Deposit. I guess it pays off to wait until Apr 1 now..

Yup - I got mine a year ago. But I did have to put through a private message to them to get the credit. So, I guess you're right to wait.

I wonder if you can talk them into giving you another 5,000

They've treated me well and fairly. I don't think I'd feel good about pushing this one. I already cut the direct deposit once I got the bonus.

I'm actually interested in signing up if someone want to provide me with a referral.

Sent you a PM. Enjoy!

You've got a Conversation!

Thanks guys, to be fair, I'll use GreyedOut's info since he beat you by a minute. Thank you!

Thanks - I'm gunning for the next one!

Thanks Jason; sorry schnitzel.

And good call on not pushing BankDirect on for getting the new miles, though I do wonder why they sent this out to existing customers... the only real change for existing customers seems to be the increased mileage award on balances over $200,000.

Hopefully the higher initial direct deposit bonus will encourage more people to join.

From what folks on FT have posted, it seems many have very big balances.

I only received the letter today, after I posted all of that. (Technically the new bonuses aren't happening until April 1st). To revise my list:

1. 1000 miles for opening the account
2. 1000 for being referred
3. 10,000 for direct deposit
4. 5,000 for using bill pay for 12 months.
5. 5,000 for using your BankDirect Visa CheckCard

That's 22,000 miles (!) plus 100 miles per month per $1000 balance. Miles post during the 1st week of each month. I received my first bonus just a few weeks after funding the account. Both parties get the 1000 mile referral bonus,

Just send me your email if anyone wants a referral. Thanks!

Talk about a bad day to be stuck in meetings, but I did get a free lunch out of it, and snacks.

I received a letter too. I'm not 100% sure about item #2. My letter only mentions receiving a 1000 mi. for referring someone. It is not clear that you also earn 1000 mi. for being referred. You certainly receive it now, but I'm not so sure about after April 1st.

If they didn't reward the person opening the account, what would the impetus be for the person being referred? I'm pretty sure it'll continue.

I need a referral. Please send me the link. thanks!

Got it! PM sent!

If you refer someone to the SPG Amex, you get a bonus but the person being referred doesn't get any extra bonus for being referred. I agree it probably isn't changing, but I just wanted to point out it wasn't explicitly stated.

Good point. Understood.

I would like a referral as well. Thanks!