Bank of America dates back 240 years and is one of the country’s largest banks. They have over 68 million customers across consumer and business banking products and 3,900 financial retail centers to serve you.
Like most big banks, Bank of America continually runs promos to get new clients.
I’ve narrowed down the Bank of America promotions and what’s required to earn them to help you make the most of your money.
Bank of America’s Current Promotions
Here are the current Bank of America promotions you can benefit from today:
- Bank of America Personal Checking Account for Current Customers: $300 Bonus
- Bank of America Personal Checking Account for New Customers: $200 Bonus
- Bank of America Business Checking Account: $200 Bonus
- Bank of America Credit Card Promotions
1. Bank of America Checking Account Bonus for Current Customers: $300 Bonus
If you’re already a Bank of America customer with a savings account, now is a good time to open a personal checking account and get rewarded for it.
This checking offer is by invitation only, meaning you must get a promo invite from Bank of America.
Taking advantage of this targeted offer is easy – all you need to do is log in to your Bank of America account through the advertisement or communication received from the bank and follow the instructions.
- Offer: Earn $300 for opening a Bank of America checking account linked to your existing Bank of America savings account
- Requirements: Open a new Bank of America checking account linked to an existing Bank of America savings account and deposit at least $4,000 within 90 days.
- Monthly fee: The $4.95 to $25 monthly fee can be waived by enrolling in Preferred Rewards or meeting the minimum balance requirements of the chosen account.
2. Bank of America Checking Account Bonus for New Customers: $200 Bonus
- Expires: 1/31/2024
Open a new checking account at Bank of America and you can earn a $200 bonus.
BofA has three checking accounts to choose from including a checkless checking account, an everyday bank account, and a premier checking account that earns interest.
- Offer: Earn $200 to open a new checking account as a new customer at Bank of America (you must not have owned a BofA checking account before).
- Code: TWA200CIS
- Requirements: Open a new personal checking account of your choosing, and set up direct deposits of at least $2,000 per month within 90 days of opening the account.
- Monthly fee: The $4.95 to $25 monthly fee can be waived by enrolling in Preferred Rewards or meeting the minimum balance requirements of the chosen account.
3. Bank of America Business Checking Account: $200 Bonus
- Expires: 12/31/2023
Eligible business owners can get a $200 cash bonus when opening a qualifying business account.
Business owners can enjoy digital banking tools, such as Zelle and Cash Flow Monitor, access to small business specialists, and the ability to earn Preferred Rewards for business owners.
- Offer: Earn a $200 bonus when you open a Bank of America business checking account,
- Requirements: Open a new Bank of America business checking account (two options), make $5,000 in qualifying deposits within 30 days, and maintain the minimum required balance of $5,000 for 60 days. *You must not have owned a Bank of America business bank account within the last 12 months to qualify.
- Monthly fee: The $16 to $29.95 monthly fee can be waived by maintaining an average $5,000 – $15,000 balance (depending on the account) or enrolling in Preferred Rewards.
4. Bank of America Credit Card Promotions
Bank of America offers several credit card promotions with easy-to-meet requirements.
Bank of America Customized Cash Rewards
Earn $200 in cash rewards for using your Bank of America Customized Cash Rewards credit card and choose one category you’d like to earn 3% back on all purchases while earning 2% back on groceries up to $2,500 and 1% unlimited on everything else.
- Offer: $200 bonus cash reward when you open a new account and meet the requirements, plus get 0% APR for the first 15 billing cycles on purchases and balance transfers
- Requirements: Spend $1,000 within 90 days of opening the account
- Fee: No annual fee
Bank of America Unlimited Cash Rewards
Earn $200 cash rewards for using your Bank of America Unlimited Cash Rewards credit card and enjoy no limit to the amount of cash back earned.
- Offer: $200 bonus cash reward when you open a new account and meet the requirements, plus get a 0% APR for the first 15 billing cycles on purchases and balance transfers
- Requirements: Spend $1,000 within 90 days of opening the account
- Fee: No annual fee
Bank of America Premium Rewards
Earn unlimited points that don’t expire, including two points for dining and travel and 1.5 points on everything else, while enjoying access to luxury hotel collections, concierge service, credits for TSA PreCheck® and Global Entry, and travel protection.
- Offer: Earn 60,000 bonus points, which equals $600
- Requirements: Spend $4,000 within 90 days of opening the account
- Fee: $95
Bank of America Premium Rewards Elite
Earn unlimited points that don’t expire, including two points for dining and travel and 1.5 points for all other purchases, while enjoying access to airport lounges, premier hotel amenities, and statement credits for TSA PreCheck® and Global Entry.
- Offer: Earn 75,000 bonus points, which equals $750
- Requirements: Spend $5,000 within 90 days of opening the account
- Fee: $550
Susan G. Komen® Customized Cash Rewards Credit Card
Support the fight against breast cancer and earn 3% cash back in a category of your choosing, 2% on groceries up to $2,500 and 1% back on everything else
- Offer: Earn a $200 cash bonus reward
- Requirements: Spend at least $1,000 on your new card within 90 days
- Fee: None
Bank of America Promotions: Tips
The Bank of America promotions can help you earn or save hundreds of dollars. Here are some tips to maximize your savings.
- Read the fine print: Be sure you understand the minimum requirements, whether it’s a specific bank balance you must keep or a minimum amount you must spend on a new credit card.
- Watch the timeline: Most rewards have a specific timeline. Make sure you follow the timeline and complete the requirements within them.
- Follow enrollment instructions: Most Bank of America promotions are online and only good through their webpage. If you navigate away from the site, you could lose the promotion.
- Check back often: Bank of America promotions change often, so check back frequently to see what other rewards you may earn.
About Bank of America
Bank of America is the second-biggest bank in the US, surpassed only by JPMorgan Chase Bank. Their total asset value is well over 2 billion dollars.
Founded in 1904, they operate in over 35 different countries worldwide, offering both personal and business banking services.
To help customers get the most out of their banking, they are offering bonuses and promotions for both types of customers that you can take advantage of today when opening a new bank account.
If you’re looking at opening a new Bank of America checking or savings account for personal or business use, then Bank of America is worth considering. They not only offer great bonuses and promotions, but their accounts also come with some nice perks.
Frequently Asked Questions
What is a bank bonus?
Banks, like other businesses, depend on their customers to make money. To attract new customers, banks offer bonuses. The bonuses vary from bank to bank and even within the same bank from month to month.
While free money always seems like a good idea, understanding the offer’s terms helps ensure you can get the most out of it.
Are there things to look out for with Bank of America Promotions?
Bank bonuses and promotions are generally a good thing, but it does not mean we should try to take advantage of all of them. Read the fine print, consider the big picture, and choose the offers with terms and conditions you can meet that won’t cause financial issues.
For example, don’t apply for every credit card offer you find, or keep opening new bank accounts. Ensure you need the credit card or the bank account is FDIC-insured before accepting an offer. Also, ensure you can meet the requirements, and the work required to get it is worth it.
Is A Bank of America Bonus Promotion for You?
If you’re looking to open a new personal checking account, a savings account, or even a business account, Bank of America has many offers to help you get started.
As always, take the time to shop around by looking at bonuses and promotions offered by other banks. This will help you ensure you get the best deal for you.
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