Bank of America Business Checking $200 Bonus

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Bank of America : Business Checking

$200

Offer Expires In

How To Earn The Bonus

  1. Open a new Business Advantage Relationship Banking or Business Advantage Fundamentals™ Banking account.
  2. Within 30 days, make qualifying deposits of $3,000 or more in new money.
  3. From day 31- day 90, maintain an average balance of $3,000.
  4. Bonus will be deposited directly into your Business Advantage Banking account within 60 days from the end of your qualifying period.

Available in Your Area?

Yes

Monthly Fees?

Varies

Open Online?

Yes

Credit Pull?

Soft

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at Bank of America

Bank of America is offering a $200 welcome bonus when you open a new business checking account and maintain a minimum balance. What's even more? You can stack this offer with an eligible small business credit card for an extra $300 bonus to earn a total of $500.

How To Earn The Bonus

The Bank of America Business Checking promotion requires you to deposit and maintain a minimum balance in order to earn the $200 bonus.

Full requirements to receive this bonus are:

  1. Open a new Business Advantage Relationship Banking or Business Advantage Fundamentals™ Banking account.
  2. Within 30 days, make qualifying deposits of $3,000 or more in new money.
  3. From day 31- day 90, maintain an average balance of $3,000.
  4. Bonus will be deposited directly into your Business Advantage Banking account within 60 days from the end of your qualifying period.

The fine print

  • Offer only available to business owners who receive this offer via a direct communication from a Bank of America Small Business Specialist or from a Bank of America communication.
  • This offer is intended for new customers only; your business is not eligible for this offer if you were an owner or signer on a Bank of America Business Advantage account within the last six (6) months.
  • Bank of America employees are not eligible for this offer.
  • This offer is not available in a Bank of America financial center or online at bankofamerica.com/smallbusiness.
  • Offer expires on December 31, 2022 and all qualifying activities must be completed within the stated time frames in order to be eligible for this offer.
  • This offer may not be combined with any other offers.
  • You must meet the requirements of this offer, in order to receive the bonus associated with that offer.
  • Bank of America may change or discontinue this offer at any time before this date without notice.
  • Only one Banking Relationship bonus offer per business owner, regardless of the number of businesses owned or operated by the customer.

How does this checking offer from Bank of America compare?

To help you determine how this bonus stacks against the rest, here are some of the most popular offers available right now:

Chase

Chase Business Complete Banking℠

Bonus
$300
Account Type
Business Checking
Expires In
20 days
Requires
  • Min Balance
  • Card Spend (optional)

Axos

Business Interest Checking

Bonus
up to $200
Account Type
Business Checking
Expires In
91 days
Requires
  • Min Balance

Amex

Business Checking

Bonus
$300
Account Type
Business Checking
Expires In
Limited Time
Requires
  • Min Balance

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.

Business Advantage Fundamentals™

Business Advantage Fundamentals is a business checking account that gives you access to business-specific digital tools like Cash Flow Monitor, access to small business specialists, and all of the security and support you'd expect from a national bank with a huge footprint.

By banking with Bank of America, you'll also receive discounts and rewards on their other business products, like a 25% rewards bonus on eligible credit cards, a $10 credit for the payroll services, and a 5% interest rate boost on business savings accounts.

Fees

Business Advantage Fundamentals™ does charge a monthly fee of $16, but there are ways to get this waived:

  • Maintain a $5,000 combined average balance.
  • OR, spend at least $250 in new net purchases on your business debit card.
  • OR, become a member of Preferred Rewards for Business.

Business Advantage Relationship

Business Advantage Relationship is Bank of America's premium business checking account. The account gives you access to business-specific digital tools like Cash Flow Monitor, QuickBooks integration, customizable control for employee access, access to small business specialists, plus all of the security and support you'd expect from a national bank with a huge footprint.

By banking with Bank of America, you'll also receive discounts and rewards on their other business products, like a 25% rewards bonus on eligible credit cards, a $10 credit for the payroll services, and a 5% interest rate boost on business savings accounts.

Fees

Business Advantage Relationship does charge a monthly fee of $29.95, but there are ways to get this waived:

  • Maintain a $15,000 combined average balance.
  • OR, become a member of Preferred Rewards for Business.