A Reddit user made $17,000 in a year from “bank churning” – opening new bank accounts for sign-up bonuses, then transferring money and closing accounts to repeat the process. Legit side hustle, but requires organization. Direct deposits and business accounts key to maximizing bonuses. Avoid fees and ChexSystems alerts for success. Fragy’s credit score has not been negatively affected by opening multiple bank accounts, as most banks use ChexSystems to track banking activity rather than credit scores. Fragy received 1099’s for earnings over $600 and reported all earnings to the IRS as taxable income. He sees managing bank accounts as a game and enjoys educating others on maximizing benefits.

Despite potential harm from banks’ practices, Fragy has found success in managing multiple bank accounts for their promotional benefits. He has made over $17,000 in a year through strategic banking hacks, such as taking advantage of promotional offers and carefully reading terms and conditions before applying. Fragy’s approach has turned banking into a profitable venture.

Read more at Yahoo Finance: I Made Over $17K in a Year With These Banking Hacks: Here’s How It Works