Bank of America Bonus Updates
Update on January 16, 2023 – Bank of America has a targeted offer with $300 bonus for checking account which is valid till April 30, 2023 and required $4,000 in direct deposit within 90 days. It seems like offer code is not required. You can try your luck as no adverse data points been reported so far.
Update on January 1, 2023 – Bank of America has extended the checking bonus to June 30, 2023. New offer code is DNE100CIS
Bank of America
Bank of America is offering $100 bonus for opening their Advantage SafeBalance or Advantage Plus or Advantage Relationship. The offer is valid online only. To be eligible, you need to open the checking account and setup a direct deposit of at least $1000 within 90 days of account opening.
Although Bank of America charges account fees of either $4.95 or $12 or $25 depending on the account type, it can be avoided by fulfilling minimum deposit requirement or qualifying activities.
Bank of America Checking Account Bonus Summary
Bonus – $100
Account – Advantage SafeBalance or Advantage Plus or Advantage Relationship
Direct Deposit – Yes, at least $1000 within 90 days
Availability – Nationwide (Online only)
Offer code – DNA100CIS
Offer Expiry – Dec 31, 2022
Account Fees – $4.95 or $12 or $25 monthly (See below on how to avoid it)
Link for the Offer
- Open a new account using the link and offer code DNA100CIS
- Deposit $25 (Advantage SafeBalance) or $100 (Advantage Plus or Advantage Relationship) to open the account
- Get qualifying direct deposit of $1000 within 90 days of account opening
BonusCoach’s List of Best Bank Account Bonus
Checking Account Fees | How to Avoid It?
- Bank of America Advantage SafeBalance Banking- $4.95 monthly. To avoid it:
- Enrolled in Preferred Rewards, or
- Qualify as a Student under 25.
- Bank of America Advantage Plus Banking – $12 monthly. To avoid it:
- Have a qualifying minimum direct deposit of $250 or more, or
- Maintain the minimum daily balance requirements of $1500 , or
- Enrolled in Preferred Rewards, or
- Qualify as a Student under 25
- Bank of America Advantage Relationship Banking- $25 monthly. To avoid it:
- Maintain a combined balance of $10,000 or more during each statement cycle, or
- Enrolled in Preferred Rewards
Early Account Termination Fees
There is no mention of early termination fees. Bonus would be deposited within 60 days and account has to be in good standing.
The Fine Print
Offer is available online only and is limited to individuals who have not owned or co-owned a Bank of America personal checking account within the last twelve (12) months. Fiduciary accounts (e.g., trusts) and business accounts are not eligible for this offer. Offer cannot be combined with any other checking offer and is limited to one bonus per account and per customer. Offer expires on Dec 31, 2022. Bank of America may change or discontinue this offer at any time before this date without notice.
Requirements to Receive the $100 Online Only Offer Bonus:
(1) Open a new Bank of America Advantage Banking account online using offer code DNL100CIS by Dec 31, 2022, to be enrolled in this offer.
(2) Set up and receive Qualifying Direct Deposits of $1,000 or more into that new Bank of America Advantage Banking account within ninety (90) days of account opening.
A “Qualifying Direct Deposit” is a direct deposit of regular monthly income – such as your salary, pension or Social Security benefits, which are made by your employer or other payer – using account and routing numbers that you provide to them. Examples of non-qualifying transfers and deposits include the following: teller deposits, wire transfers, debit card transfers, ATM transfers or deposits, Online and Mobile Banking transfers or deposits, or transfers from a bank or brokerage account or Merrill investment account.
After you satisfy all of the requirements, we will attempt to deposit the earned bonus directly into your new Bank of America Advantage Banking account within sixty (60) days. The new Bank of America Advantage Banking account must be open and in good standing up to and including the date any earned bonus is paid in order to receive the bonus.
To receive your bonus you must provide all of the information we require in connection with opening the account. This includes information we require to identify each account owner and to report the bonus to the Internal Revenue Service (IRS), including a validly completed IRS Form W-9 or Form W-8 (as applicable). The value of this bonus may constitute taxable income to you. To the extent required by law, Bank of America may withhold tax or other amounts from the payment. Bank of America may issue an IRS Form 1099 (or other appropriate form) to you that reflects the value of such bonus. Please consult your tax advisor, as neither Bank of America, its affiliates, nor their employees provide tax advice.
Additional Terms and Conditions: All account applications are subject to approval. The minimum deposit required to open a Bank of America Advantage SafeBalance Banking® account is $25. The minimum deposit required to open a Bank of America Advantage Plus Banking® account is $100. The minimum deposit required to open a Bank of America Advantage Relationship Banking® account is $100.