Bank of America Advantage Banking Account $100 Bonus

Bank of America : Advantage Banking Account

Bonus Amount
$100
Account Type
Advantage Banking
Available In Your Area?
Yes
Offer Expires In
Bonus Requirements
  1. Open a new Bank of America Advantage Banking personal checking account using the link below.
  2. Within 90 days, receive two direct deposits of $250 or more.
  3. Bonus will be deposited directly into your account within 60 days of meeting the requirements.
Other Details
Hard Credit Pull?
Monthly Fees?
Varies By Account
Open Online?
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Bank of America is offering $100 for opening a new personal checking account.

It's not a huge bonus, but it's available nationwide and the requirements are super low.

How To Earn The Bonus

The Bank of America Advantage Banking Account promotion requires you to set up direct deposits in order to earn the $100 bonus. Full requirements to receive this bonus are:

  1. Open a new Bank of America Advantage Banking personal checking account using the link below.
  2. Within 90 days, receive two direct deposits of $250 or more.
  3. Bonus will be deposited directly into your account within 60 days of meeting the requirements.

The fine print

  • When opening your new account, use the promo code DOC100CIS.
  • A “Qualifying Direct Deposit” is a direct deposit of regular monthly income – such as your salary, pension or Social Security benefits, which are made by your employer or other payer – using account and routing numbers that you provide to them. Examples of non-qualifying transfers and deposits include the following: teller deposits, wire transfers, debit card transfers, ATM transfers or deposits, Online and Mobile Banking transfers or deposits, or transfers from a bank or brokerage account or Merrill account.
  • You are not eligible for this offer if you were an owner or co-owner of a Bank of America personal checking account within the last twelve (12) months.
  • Fiduciary accounts are excluded. Offer does not apply to business, second or multiple personal checking accounts.
  • All account applications are subject to approval.

Why Bank of America?

Bank of America is one of the "big four" banks in the United States, and is headquartered in Charlotte, but operates in more than 35 countries around the world. Merrill Investing also falls under the Bank of America umbrella, and between the two brands, you can find nearly any financial product you'd want: checking and savings accounts, home and auto loans, HSAs, business products, credit cards, CDs, money market accounts, IRAs, and more.

Their online and mobile tools offer a solid digital experience with alerts, mobile check deposits, spending charts, easy card replacement requests, digital wallets and more. Customers also tend to rank their service favorably, with convenient support hours and real humans on the other line.

The trade off to a plethora of banking products, a huge network of physical locations and ATMs, and a well-reviewed digital experience are the same as most of the other big banks: don't expect wow-ing interest rates. Plus, you'll want to be sure to avoid their penalty fees, which are steep and can be harsh. For example, their overdraft fee is $35, and their policy allows them to charge it as often as 4 times each day.

Advantage SafeBalance

Advantage SafeBalance is an entry-level online checking account that appears to be aimed at those who have a tendency to overdraft their account.

With an Advantage SafeBalance account, there are no overdraft fees, because any debit card charges that might put your account into the negative will be automatically declined. And since checks are often the culprit when it comes to overdraft fees, you cannot write checks with this account.

Fees

Advantage SafeBalance does charge a monthly fee of $4.95, but there are ways to get this waived:

  • Enroll in Preferred Rewards, which requires a three-month average daily balance cumulatively across qualifying Bank of America deposit accounts and/or your Merrill investment accounts of at least $20,000 (for the Gold tier – or $50,000 for Platinum and $100,000 for Platinum Honors tiers).
  • OR, be a high school or college student under age 24.

Advantage Plus

Bank of America’s Advantage Plus is the company’s most popular checking account. You can write paper checks and set up overdraft protection with a linked savings account if you have one.

Fees

Advantage Plus does charge a monthly fee of $12, but there are ways to get this waived:

  • Have at least one qualifying direct deposit of $250.
  • OR, maintain a minimum daily balance of $1,500.
  • OR, be a high school or college student under age 24.
  • OR, enroll in Preferred Rewards, which requires a three-month average daily balance cumulatively across qualifying Bank of America deposit accounts and/or your Merrill investment accounts of at least $20,000 (for the Gold tier – or $50,000 for Platinum and $100,000 for Platinum Honors tiers).

Advantage Relationship

Bank of America’s Advantage Relationship Banking account is an interest-earning checking account that’s designed for people who are able to maintain higher account balances.

Account holders can write checks, earn interest on deposits, and you can also set up overdraft protection.

Fees

Advantage Relationship does charge a monthly fee of $25, but there are ways to get this waived:

  • Maintain a combined balance of $10,000 in linked checking and savings, CDs and IRAs, or Merrill investment accounts.
  • OR, enroll in Preferred Rewards (though this has higher balance requirements than the $10,000).