HI Leslie, sure..below is taken directly from the Bank Direct site. Also, 2nd below is a current thread on this program from Flyer Talk.
Before I deposited the significant amount
to earn 20K/mo checked with our CPA...he said as long as we keep the amount under the FDIC insured amount..happy flying. Plan to have
Ida open her Bank Direct milage account in next month to earn either 10-15K month. Per BDirect
rules u are limited to two accounts per household. My logic is the interest rate
on our AMA is near zero, ff miles are non taxable
besides with our one to two cruises per year (while Ida works) the deposits easily pay for
our overseas award seats.

Also, I learn/glean many of these "free" (except for the time it takes to sign up), ff offers from what I consider the best ff blog site around (have earned over 500K ff miles in last two years following his tips):

http://frugaltravelguy.blogspot.com/
Lastly, Leslie if u decide to open an account, please consider using me (my email is in the LCT directory) as a referral...I will get 1000 AA miles if you do, thanks.


Bank Direct Mileage Checking account info:

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

Flyer Talk Thread here:

http://www.flyertalk.com/forum/american-aadvantage/1047553-questions-bankdirect.html