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U.S. Bank offers as much as $900 in cash when you open a new account. Here's how to qualify for a U.S. Bank welcome bonus.

Direct deposit requirements: See if you need to set up direct deposit and what the terms are. Make sure you can easily arrange this with your employer or source of income.

Bank of America is currently offering new customers a $300 checking account bonus, as well as a $200 business checking account bonus.

The decision is not surprising when you consider that only 485,766 Social Security checks are mailed each month, which pales in comparison to the 68,104,184 direct deposit payments made each month.