Prolonged to June 30, 2025
now expires 5/31/2025
Prolonged by Jan 31, 2025
Replace 10/1/24: Bonus is now $300 (up from $200) there’s additionally a $500 bonus at present. I’ve tried to refresh this web page fully as effectively.
Supply at a look
The Supply
- Financial institution of America is providing a $300 bonus while 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 Tremendous Print
- This supply is accessible on-line solely and will not be out there if you happen to go away this web page, go to bankofamerica.com, go to a Financial institution of America monetary heart, or if you happen to name the financial institution. You might 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 could have totally different phrases based mostly on how Financial institution of America introduces them. To make sure you reply to the right supply, please reference the unique supply acquired.
- This supply 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 supply. Supply can’t be mixed with some other checking supply and is proscribed to 1 bonus per account and per buyer. Supply expires on January 31, 2025. Financial institution of America could change or discontinue this supply at any time earlier than this date with out discover.
- (1) Open a brand new eligible private checking account on-line by this supply’s webpage by January 31, 2025, to be enrolled on this supply.
- 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 supply. Financial institution of America Benefit SafeBalance Banking® for Household Banking accounts are not eligible for this supply.
- (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 normal month-to-month revenue — comparable to your wage, pension or Social Safety advantages, that are made by your employer or different payer — utilizing account and routing numbers that you just 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 are going to try to deposit the earned bonus instantly 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 should 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 supplied all the data we require in reference to sustaining the account. This contains data wanted to determine every account proprietor and to report the bonus to the Inner Income Service (IRS), together with a validly accomplished IRS Kind W-9 or Kind W-8 (as relevant). The worth of this bonus could represent taxable revenue to you. To the extent required by legislation, Financial institution of America could withhold tax or different quantities from the fee. Financial institution of America could situation 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 charge, that is waived with any of the next:
- An proprietor of this account is underneath the age of 25
- Preserve a minimal day by day stability of $500 in your account
- Are a member in our Most well-liked Rewards program
Early Account Termination Payment – None
This account has no early account termination charge.
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 will likely be higher off with this supply because it’s a bit extra versatile. The one draw back is that this one does require a direct deposit. We’ll in fact add this to our greatest checking account bonuses.
Helpful posts concerning financial institution bonuses:
Put up 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 supply to return.
- Replace 1/2/19: This has been prolonged till June thirtieth, 2020. In all probability greatest to attend for a $300 supply 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: Supply is again and legitimate till December 31, 2018. Might particularly make sense along side the upgraded $900 Merrill Edge supply. (Hat tip to reader LW)
- Replace 03/26/17: Supply is again and legitimate till Might thirty first, 2018. Hat tip to reader Bhanna.
- Replace: 01/10/18: Supply is again and legitimate till February twenty eighth, 2018. Had been expired since finish of December 2017. Additionally seems to be such as you’ll be eligible for a second bonus so long as your outdated account has been closed for six months. Hat tip to reader LAG.
- There’s a focused $300 supply, please verify to see if you happen to’re focused for that earlier than fascinated about this one!
