Bank of America $500 Checking Bonus
Bank of America is offering up to a $500 bonus for customers who open a new checking account. This offer is available nationwide and it requires a direct deposit. Let’s see how this bonus works, and who is eligible.
How to Earn This Bonus
- Open a new eligible checking account.
- Set up and receive Qualifying Direct Deposits into your new account within 90 days of account opening. Your bonus amount will be based on the total amount of your qualifying direct deposits received in the first 90 days.
- $100 bonus with $2,000 in direct deposits
- $300 bonus with $5,000 in direct deposits
- $500 bonus with $10,000+ in direct deposits
- If you’ve met all requirements, 90 days after account opening we’ll attempt to deposit your bonus into your new eligible account within 60 days.
Are You Eligible?
Here are the eligibility details for this bonus:
- Offer is available nationwide through promo page, if you visit a Bank of America financial center, or if you call the bank.
- Offer 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), Bank of America Advantage SafeBalance Banking® for Family Banking accounts, 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.
- Bank of America may change or discontinue this offer at any time before this date without notice.
- Only new checking customers can take advantage of this offer.
Account Fees
- The Advantage SafeBalance Banking account has a monthly fee of $4.95 which is waived when you meet one of the following:
- An owner of this account is under the age of 25, OR
- Maintain a minimum daily balance of $500 or more in your account, OR
- An owner of this account is a member of the Preferred Rewards program
Guru’s Wrap-Up
This is a good bonus from Bank of America if you can easily complete the direct deposit requirement. For the maximum bonus of $500 you would need total direct deposits of $10,000+ within the first 90 days.
Bank bonuses are a great way to earn some extra income, often from the comfort of your home. You can take a look at my bank bonus results for 2022 where I made over $6,000. If this bonus is not for you, then you can check our full list of available bank bonuses. You can also access bonuses available in your state by clicking the article tags below, or visiting dannydealguru.com/tag/NY-bank-bonus/. Just replace NY with your state or with “nationwide”.
And, if you’re new to bank account bonuses, you can learn more about churning bank accounts here.
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💡 Link & Full Details
- OFFER PAGE
- Max Bonus: $500
- Account Type: Advantage SafeBalance
- Availability: Nationwide
- Type of Inquiry: Soft pull
- Direct Deposit Requirement: $2K-$10K within 60 days (see what works)
- Other Requirements: None
- Credit Card Funding: None
- Monthly Fee: $4.95 (waivable)
- Early Account Closing Fee: $25
- Expiration Date: 01/31/26
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