Bank of America $500 Checking Bonus
Bank of America has a new $500 bonus for customers who open a business checking account. This offer is available nationwide and direct deposit is not required, which makes it available to more people. Let’s see how this bonus works, and who is eligible.
How to Earn This Bonus
Here’s how to earn this $500 bonus:
- Open a new eligible Bank of America checking account using offer code MCC500CIS.
- Deposit $15,000 or more in new money directly into the new checking account within 30 days of account opening.
- Maintain your checking account balance at $15,000 or above daily from days 31 to 120 after opening your account.
- Actively use the account by doing one of the following within 120 days of opening:
- Make at least one qualifying direct deposit
- Send a payment through Zelle using your newly acquired checking account
- Make a Bank of America Mobile Check Deposit
- Use Bank of America Bill Pay to send a payment
Bank of America Advantage SafeBalance Banking, Bank of America Advantage Plus Banking and Bank of America Advantage Relationship Banking for Wealth Management accounts are eligible for this offer. Bank of America Advantage SafeBalance Banking® for Family Banking accounts are not eligible for this offer.
Are You Eligible?
Here are the eligibility details for this bonus:
- This bonus is available nationwide
- You are not eligible for this offer if you were an owner or co-owner of a Bank of America personal eligible checking account within the last twelve (12) months.
- Clients must have a U.S. domestic address (this includes Puerto Rico and P.O. Boxes) to qualify for this offer. Clients with any foreign address are not eligible for this offer.
- Offer limited to one incentive per client.
Account Fees
- Advantage SafeBalance Banking account has a $4.95 annual fee that can be waived with a $500 balance, or if one of the account owners is under 25 years old.
- There is no early closing fee.
Guru’s Wrap-Up
This is a good bonus from Bank of America and it doesn’t require a direct deposit. The offer is available online and nationwide.
You will need to open a new business checking account and deposit $15,000 within 30 days. It’s best to make the deposit closer to the 30th day. You then need to keep that balance from days 31 to 120 after opening your account. So that’s about 90+ days. That makes it about 13% APY which is a very good rate, although for only three months.
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 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: Business Checking
- Availability: Nationwide
- Type of Inquiry: Soft pull
- Direct Deposit Requirement: No
- Other Requirements: $15K balance
- Credit Card Funding: Up to $1000
- Monthly Fee: $4.95 (waivable)
- Early Account Closing Fee: No
- Expiration Date: 12/31/24
HT: Doctor of Credit
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