![]() The Forbes Advisor editorial team is independent and objective. You can receive only one welcome bonus as a new personal checking customer. You qualify as a new personal checking customer if you have not owned or co-owned a Bank of America consumer checking account within the last 12 months. You Must Be a New Customerīank of America welcome bonuses are for new checking account customers. ![]() The bank says it may also issue you an IRS Form 1099 that reflects the value of your welcome bonus. If required by law, Bank of America may withhold taxes or other amounts from your bonus payment. Your bank account bonus may be considered taxable income. ![]() Customers usually receive their cash within 60 days after meeting the qualification requirements. What Else Should You Know About Bank of America Checking Account Promotions? Your Account Must Be Open To Receive a Welcome Bonusīank of America requires that you keep your account open until the date your bonus is paid. They have fairly simple requirements to qualify, but they’re not as generous as some of the best bank bonuses out there. Is a Bank of America Welcome Bonus a Good Deal?īank of America’s welcome bonuses for new personal checking accounts are competitive, on par with bonuses frequently offered by other large national banks. You pay no service fees for any Advantage Banking checking account if you’re enrolled in Preferred Rewards.With Advantage Relationship Banking, Bank of America waives the monthly maintenance fees when a customer keeps a combined balance of at least $10,000 across linked accounts.Advantage Plus Banking customers can have the monthly maintenance fee waived each month with a qualifying direct deposit of $250, or by maintaining a daily balance of $1,500 or more.Students under age 25 or other account holders under 18 can receive monthly maintenance fee waivers for Advantage SafeBalance Banking accounts.Can you avoid the monthly service fee? Bank of America offers several ways for Advantage Banking customers to waive the monthly maintenance fees.Is there a time limit on the offer? It’s available to new customers who open accounts by Jun.When do you receive your bonus? Bank of America says it will attempt to deposit your bonus within 60 days after you satisfy the qualification requirements.What is considered a direct deposit? Deposits of regular monthly income-such as a salary, pension or Social Security-using your account and routing numbers count as qualifying direct deposits for this promotion.Then, set up and receive qualifying direct deposits totaling $1,000 or more into the account within 90 days of account opening to receive a $100 bonus. ![]() What is the offer? Open a new Bank of America Advantage Banking personal checking account online, using offer code DNE100CIS.Options include: Bank of America Advantage SafeBalance Banking®, a “checkless” checking account that doesn’t allow paper check writing and has a $4.95 monthly maintenance fee Bank of America Advantage Plus Banking®, which the bank calls “a good choice if you want everyday banking” and carries a $12 monthly fee and Advantage Relationship Banking, which earns interest and has a $25 monthly fee. Bank of America Advantage Banking Promotion for 2022: Score $100īank of America offers a suite of checking account products for consumers, under its Advantage Banking brand. Here are the current Bank of America new-account promotions for individual checking customers. Receive your bonus, usually 60 days after you meet the qualifying requirements.Personal checking accounts generally require a minimum ongoing direct deposit. Meet the promotion’s qualifying conditions.Open a new BofA checking account through a promotional offer or by using a Bank of America offer code.It’s relatively easy to qualify for a Bank of America promotion as a new consumer checking customer. How Can You Get a Bank of America Checking Account Offer? ![]()
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