Best Bank of America Promotions of September 2023 ($100 – $1000 Offers)

Below is a compilation of all the Bank of America checking, savings, and business account bonus offers currently available.

Typical offers have been for $100, $200, $300 and up to $2,500.

Bank of America is one of the “big four” largest banks in the United States and they’re good with providing welcome offers to get new customers.

Its headquarters are in Charlotte, NC, but it does business in more than 35 countries around the world.

Merrill Investing is also part of Bank of America, and between the two brands, you can find almost any kind of financial product you could want: checking and savings accounts, home and auto loans, HSAs, business products, credit cards, CDs, money market accounts, IRAs, and more.

Bank of America’s online and mobile tools offer a good digital experience with alerts, mobile check deposits, spending charts, easy card replacement requests, digital wallets, and more.

Their customer service generally gets positive nods, offering convenient hours and real people on the other end of the line.

The trade-off for having a lot of banking products, a huge network of physical locations and ATMs, and a well-reviewed digital experience is that the interest rates won’t blow your mind.

Best Bank of America Promotions

Bank of America wants you as a new customer, so they often have good welcome bonuses available.

See the current promotions below.

READ MORE: GET TOP OFFERS FROM CHASE, AXOS, TD BANK AND U.S. BANK.

How Can You Get a Bank of America Checking Account Bonus?

As a new consumer checking customer at Bank of America, it’s not too hard to qualify for an offer. 

• You can open a new Bank of America checking account with a special offer code. The deal may only be available online.
• Meet the requirements for the promotion. Most personal checking accounts require at least one direct deposit every month.
• Usually, it takes 60 days after you meet the requirements to get your bonus.

Take a look at the current offers above and read the offer terms carefully.

READ MORE: GET THIS BANK OF AMERICA CHECKING BONUS BEFORE IT EXPIRES

What You Need to Know About Bank of America Checking Offers

You can find several different checking products for consumers under the Advantage Banking brand, including:

• Bank of America Advantage SafeBalance Banking^®. This account doesn’t have paper check writing privileges and has a $4.95 monthly maintenance fee (details on waiving this fee are below).
• Bank of America Advantage Plus Banking^®. This account is their best choice for everyday banking and has a $12 monthly fee (details on waiving this fee are below).
• Bank of America Advantage Relationship Banking^®. This account earns interest and has extra perks – it has a $25 monthly fee (details on waiving this fee are below).

What Counts as a Direct Deposit?

Checking bonus offers from Bank of America typically require an offer code to apply online. And direct deposit is usually required to qualify.

Qualifying direct deposits include deposits of regular monthly income, such as salary, pension or Social Security.

When Will You Receive Your Bonus?

The terms state that Bank of America will attempt to deposit your bonus within 60 days after you satisfy the offer requirements.

How Can You Avoid The Monthly Fee?

There are several ways for Advantage Banking customers to waive the monthly maintenance fees.

• Bank of America Advantage SafeBalance Banking^®. Students under age 25 or other account holders under 18 can receive monthly maintenance fee waivers for this account.
• Bank of America Advantage Plus Banking^®. The monthly maintenance fee can be waived each month with a qualifying direct deposit of $250, or by maintaining a daily balance of $1,500 or more.
• Bank of America Advantage Relationship Banking^®. The monthly maintenance fee can be waived with a combined balance of at least $10,000 across linked accounts. 
• Also, there are no monthly maintenance fees for any Advantage Banking checking account if you’re enrolled in Preferred Rewards.

READ MORE: CHASE IS OFFERING A WELCOME BONUS FOR NEW PERSONAL CHECKING ACCOUNTS

Other Things You Should Know About Bank of America Checking Offers

• Your account must remain open to receive the bonus offer. Bank of America wants you to keep your account open until the date your bonus is paid. When a customer meets the requirements, they usually get their cash within 60 days.
• You may have to pay taxes on the bonus. Your bonus money in your bank account could count as taxable income. Bank of America may send you an IRS Form 1099 showing how much your welcome bonus was worth.
• You must be a new customer to qualify for the bonus. Welcome bonuses from Bank of America are for people who open a new checking account. You are a new personal checking customer if you haven’t owned or co-owned a Bank of America consumer checking account in the last 12 months. As a new personal checking customer, you can only get one welcome bonus.

READ MORE: CUSTOMERS ARE GETTING BIG BONUSES WITH U.S. BANK

Bottom Line

BofA has a large number of customers in the United States. Some of these customers carry large balances and are eligible for its Preferred Rewards program, which gives them extra perks, lower fees, and rewards multipliers.

Bank of America is also eager to bring in new customers, and it uses sign-up bonuses to do so.

If you want a new bank account, you might want to look into Bank of America checking promotions. As a welcome bonus, you can get a good amount of cash, but keep in mind that other banks may have more generous offers.

READ MORE: SEE THE BEST BANK BONUSES HERE AND THE BEST INVESTING BONUSES HERE.

Frequently Asked Questions (FAQ)