Bankdirect: The best kept secret to getting AA miles?

I've never seen an ATM that dispenses $1 or $2 bills. Are these around? I guess I have never tried to withdraw an amount that was not divisible by $20.

Sounds like the kind of thing you'd see in a 7-11 in a not-so-great part of town, maybe.

Financial institutions love to prey on the poor.

I can request my employer to send any amount for a direct deposit. So, setting up an odd amount, say $541.38 or $5041.38 would seem like a "full" DD. That should meet their requirement. If you can't have the employer send a specific amount for DD, perhaps a %age could be specified.

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Open to sending a referral for BankDirect (Extra 1000 AA miles for both of us)

They probably don't exist. However, I haven't been charged ATM fees in many European/Asian countries and BD gave me a refund anyway.

Yes, I have had this experience, too. It's a nice atm card to have for international travel for this reason.

For international travel, I wish BD had a chip + PIN. That would really distinguish them and bring on the new accounts . . .

When I set mine up, I just sent over 10% of so of my pay. The DD bonus from BD did not post immediately, but a simple email asking about it generated a quick response and depositing of the miles.

Thanks for the info. In case someone is looking for the link to the FAQ on BankDirect's website, here it is:
http://www.bankdirect.com/programs/aafaq.aspx?q=13

How long did it take for the miles from the DD bonus to post after receiving the e-mail from BD? I sent the e-mail asking for the bonus to be given 1 week ago. BD's e-mail response the next day said that my request for the bonus and been submitted and to give them 4-6 weeks for the miles to post. How long is this likely to actually take?

I don't recall it exactly, but I'm pretty sure it was on the order of 1-2 weeks (and certainly not the generic 4-6 weeks you were quoted).

Thanks. Just wanted to know. I was hoping the miles would post within a couple of weeks for a possible redemption by the end of the month.

I think they usually batch bonuses in with the regular monthly postings, which generally occur on the second business day of the month.

I did $500 a nice round number, emailed them and recieved the bonus.

OK - but when? I did that a while ago also, but they seemed to have tightened the rules right around when they increased the bonus.

My first deposit was probably in January and my email was mid-April.

That's right around when the changed the bonus. Did you get 5K or 10K?

5k

So that's the old bonus. With, probably, the more relaxed rules.

Is a Mileage CD (for 6 or 12 months) a good deal? The rate is 250/500 miles per $1K/month for 6/12 months. So, if I understand correctly, a deposit of $10K would yield a 25K/60K AAmiles after 6/12 months. Much better than checking account.

For a CD, the money isn't per month - it's a one-shot deal.

So if you start a six month CD with $10K, you get 2500 miles, once. Compare that to checking where you get 1000 miles per month for the same $10K, and you'd have 6000 miles that way.

Can someone give me a referral as I would like to sign up for a checking acct and CD, thanks! The referral gives each of us 1000 extra miles, is that correct?

BTW, for the 10k direct deposit bonus does anyone know if will they allow paypal payments or an ACH push? And does anyone know what the penalty on breaking a CD is? Thanks

I just started a conversation with you with details.

Yes, we each get 1000 miles out of the deal.

I think they no longer allow PayPal for ACH. For the CD penalty, you have to look at the terms for each duration of CD.

Here's the word from the BankDirect site on CD penalties:

Maybe the next best thing....
Although it doesn't generate actual AA miles, I'm impressed with CapitalOne's mileage rewards options...especially the money market. Safe, liquid, and between points and interest, about 1.6% return.
http://milepoint.com/forums/threads/capitalone-rewards-money-market-account.10770/

My dad hates flying more than he has to and hates investments, so he just sits on his cash. Glad I found out about this because it's perfect for him.