Bank of America Business Checking $200 Bonus

If you're a business owner in the market for a new checking account, be sure to check out this offer from Bank of America.

They're offering a $200 bonus when you open a new business checking account and maintain a minimum balance. Not only that, but you can also stack this offer with an eligible small business credit card to earn an extra $300, for a total bonus of $500.

To qualify, you can choose between Bank of America's Business Advantage Relationship Banking or Business Advantage Fundamentals™ Banking accounts. Both have monthly fees that can be waived. Then, you'll just need to deposit $5,000 into your new account. Pretty simple!

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 Bank of America business checking account.
2. Within 30 days, make qualifying deposits of $5,000 or more in new money.
3. From day 31- day 90, maintain an average balance of $5,000.
4. Bonus will be deposited directly into your Business Advantage Banking account within 60 days from the end of your qualifying period.

Open a Business Checking account before the bonus expires on June 30, 2023

The fine print

• Offer is available only to applicants who apply for a new account online.
• 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 (12) months.
• Bank of America employees are not eligible for this offer.
• Offer expires on June 30, 2023 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 business 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

49 days

Requires

• Min Balance
• Card Spend (optional)

Full Details

U.S. Bank

Business Checking

Bonus

$500

Account Type

Business Checking

Expires In

24 days

Requires

• Min Balance
• Bill Pay (optional)
• Card Spend (optional)

Full Details

Live Oak

Live Oak small business checking

Bonus

$150

Account Type

Business Checking

Expires In

1 day

Requires

• Min Balance
• Bill Pay (optional)
• Card Spend (optional)

Full Details

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.

Learn more in our Bank of America review

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.

Apply now for a Business Checking account to earn the $200 bonus offer

Bank of America Locations

You may sometimes be required to visit a branch in-person to take advantage of a welcome offer. Or, you may just prefer the convenience of banking with institutions that have locations near you.

Fortunately, Bank of America has a total of 3955 branches in the United States.

Get a better idea of how well Bank of America can serve you by checking out their branches closest to your area: