Great post. There's a less scalable but additional way to take in a bunch of cash from banks with zero risk. A lot of banks offer sizable cash incentives to open accounts. Usually the payout is $300-$500 to open an account, hold a minimum cash balance for three months (often just $1,500), or make three direct deposits if you have a W-2 job. After the payout you close the account and move on. One thing to watch: payout WILL be reported to the IRS as 1099 income, so put that aside for tax day.
Great post. There's a less scalable but additional way to take in a bunch of cash from banks with zero risk. A lot of banks offer sizable cash incentives to open accounts. Usually the payout is $300-$500 to open an account, hold a minimum cash balance for three months (often just $1,500), or make three direct deposits if you have a W-2 job. After the payout you close the account and move on. One thing to watch: payout WILL be reported to the IRS as 1099 income, so put that aside for tax day.