Citi Ready Credit - 70k Velocity points with $500 balance transfer

Is is just a normal Bank account transfer setup and it will count towards the Bonus?

Thanks for answering
Yes - it's basically a direct deposit of $5k into another account, then making a payment into the account of $1 (something I like to do to check the account number is correct) and $4,990 the next day (so the account remains in debit).
 

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