Prolonged to June 30, 2025
now expires 5/31/2025
Prolonged via Jan 31, 2025
Replace 10/1/24: Bonus is now $300 (up from $200) there may be additionally a $500 bonus presently. I’ve tried to refresh this web page utterly as nicely.
Provide at a look
The Provide
- Financial institution of America is providing a $300 bonus if you open a brand new eligible checking account and full the next necessities:
- Arrange and obtain Qualifying Direct Deposits of $2,000 or extra into that account inside 90 days of account opening
The Superb Print
- This provide is obtainable on-line solely and will not be obtainable when you go away this web page, go to bankofamerica.com, go to a Financial institution of America monetary middle, or when you name the financial institution. It’s possible you’ll obtain totally different Financial institution of America promotional checking presents by varied strategies, i.e., mail, in particular person or e-mail/on-line. These promotional presents might have totally different phrases based mostly on how Financial institution of America introduces them. To make sure you reply to the right provide, please reference the unique provide acquired.
- This provide is proscribed to people who haven’t owned or co-owned a Financial institution of America private checking account throughout the final twelve (12) months. Fiduciary accounts (e.g., trusts), Financial institution of America Benefit SafeBalance Banking® for Household Banking accounts, and enterprise accounts will not be eligible for this provide. Provide can’t be mixed with some other checking provide and is proscribed to at least one bonus per account and per buyer. Provide expires on January 31, 2025. Financial institution of America might change or discontinue this provide at any time earlier than this date with out discover.
- (1) Open a brand new eligible private checking account on-line via this provide’s webpage by January 31, 2025, to be enrolled on this provide.
- Financial institution of America Benefit SafeBalance Banking®, Financial institution of America Benefit Plus Banking®, Financial institution of America Benefit Relationship Banking® accounts are eligible for this provide. Financial institution of America Benefit SafeBalance Banking® for Household Banking accounts are not eligible for this provide.
- (2) Arrange and obtain Qualifying Direct Deposits totaling $2,000 or extra into that eligible Financial institution of America Benefit Banking account inside ninety (90) days of account opening.
- A “Qualifying Direct Deposit” is a direct deposit of standard month-to-month revenue — equivalent to your wage, pension or Social Safety advantages, that are made by your employer or different payer — utilizing account and routing numbers that you simply present to them. Examples of non-qualifying transfers and deposits embody the next: teller deposits, wire transfers, debit card transfers, ATM transfers or deposits, On-line and Cell Banking transfers or deposits, or transfers from a financial institution or brokerage account or Merrill funding account.
- After you fulfill all the necessities, we’ll try and deposit the earned bonus immediately into your new eligible Financial institution of America Benefit Banking account inside sixty (60) days. The brand new eligible Financial institution of America Benefit Banking account have to be open and in good standing as much as and together with the date any earned bonus is paid.
- Your receipt of any bonus is topic to validation that you’ve offered all the data we require in reference to sustaining the account. This contains info wanted to determine every account proprietor and to report the bonus to the Inside Income Service (IRS), together with a validly accomplished IRS Kind W-9 or Kind W-8 (as relevant). The worth of this bonus might represent taxable revenue to you. To the extent required by regulation, Financial institution of America might withhold tax or different quantities from the cost. Financial institution of America might concern an IRS Kind 1099 (or different applicable type) to you that displays the worth of such bonus. Please seek the advice of your tax advisor, as neither Financial institution of America, its associates, nor their workers present tax recommendation.
Avoiding Charges
Month-to-month Charges
The SafeBalance has a $4.95 month-to-month price, that is waived with any of the next:
- An proprietor of this account is underneath the age of 25
- Preserve a minimal each day steadiness of $500 in your account
- Are a member in our Most well-liked Rewards program
Early Account Termination Price – None
This account has no early account termination price.
Our Verdict
There’s a $500 bonus, however that requires a $15,000 deposit for 90 days. I feel the presents are comparable when you think about a 5% APY account would earn ~$185 over that interval so most individuals can be higher off with this provide because it’s a bit extra versatile. The one draw back is that this one does require a direct deposit. We are going to in fact add this to our greatest checking account bonuses.
Helpful posts concerning financial institution bonuses:
Publish historical past:
- Replace 5/23/24: Prolonged till 9/30/24
- Replace 1/23/24: Prolonged till 5/31/24
- Replace 9/11/23: Prolonged till January 31, 2024 and bonus elevated to $200.
- Replace 6/29/23: Prolonged till August 31, 2023.
- Replace 12/1/22: Prolonged till June 30, 2023
- Replace 11/21/21: Prolonged till June 30, 2022
- Replace 6/30/20: Prolonged till December 31, 2021
- Replace 12/23/20: Prolonged till June 30, 2021.
- Replace 6/12/20: This has been prolonged till December thirty first, 2020. We’d nonetheless advocate ready for a $300 provide to return.
- Replace 1/2/19: This has been prolonged till June thirtieth, 2020. In all probability greatest to attend for a $300 provide to return although. Hat tip to reader Kyle
- Replace: There may be now a brand new larger deal for $300
- Replace 2/18/19: Deal has been prolonged till December thirty first, 2019.
- Replace 1/2/2019: Deal has been prolonged till February twenty eighth, 2019.
- Replace 10/03/18: Provide is again and legitimate till December 31, 2018. Might particularly make sense at the side of the upgraded $900 Merrill Edge provide. (Hat tip to reader LW)
- Replace 03/26/17: Provide is again and legitimate till Could thirty first, 2018. Hat tip to reader Bhanna.
- Replace: 01/10/18: Provide is again and legitimate till February twenty eighth, 2018. Had been expired since finish of December 2017. Additionally appears to be like such as you’ll be eligible for a second bonus so long as your previous account has been closed for six months. Hat tip to reader LAG.
- There’s a focused $300 provide, please examine to see when you’re focused for that earlier than occupied with this one!