There’s a Bank of America checking bonus available right now, and the requirements aren’t too stringent. As you’d expect it’s limited to people who don’t already have a checking account at BOA.
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The Details
Bonus
- $200 deposited into your new accoutn within 60 days of satisfying the requirements.
Requirements
- Open a new account online with the offer code TWA200CIS
- Receive qualifying direct deposits that total $2000 or more within 90 days of opening the account.
Exclusions
- You cannot have held a BOA checking account in the previous 12 months.
Fees
- There are three separate checking accounts, each with different fees:
- Safe Balance – $4.95 monthly, waivable if you are under 25, maintain a daily minimum balance of $500, or are a member of the preferred rewards program
- Advantage Plus – $12 monthly, waivable if you have at least one direct deposit of $250 or more, maintain a minimum daily balance of $1500, or are a member of preferred rewards
- Advantage Relationship – $25 monthly, waivable if you maintain a minimum daily balance of $20000 or are a member of the preferred rewards program
Deadlines
- Must sign up by 5/21/24
Benefits
- Bank of America debit and credit cards get free entry into museums and attractions on the first weekend of every month. You can find more info on the Museums On Us page on the BOA site.
- Beyond that the benefits change depending on which account you hold:
- Safe Balance – Prevents most overdraws to eliminate overdraft fees
- Advantage Plus – Connect up to 5 other BOA accounts to protect against overdrawing your balance
- Advantage Relationship – Same as Advantage Plus, but also earns interest. The amount earned changes depending on location, but it’s something like 0.01%
Notes
Thoughts About The Bank Of America Checking Bonus
The requirements for the bonus are straightforward, and I’d put the amount required as a direct deposit in the middle tier. It’s not in the >=$500 range like Chime tends to be, but it’s also not in the $5000 range like a recent U.S. Bank promo.
I think the bonus of $200 is solid for the level of effort required.
The Safe Balance and Advantage Plus accounts are easy to keep fee-free. Of course, I’d like no fees to begin with, but these aren’t hard to avoid.
The perk of getting into museums and attractions for free one weekend a month is very cool and could be a reason to hold a no-fee Bank of America card all on its own. I love unique perks like this.
It’s also worth noting that Bank of America offers a loyalty program that will boost rewards on their credit cards. It requires you to hold a certain amount of value in BOA accounts. If you’re interested in maxing out the rewards on one of their cards this account could be a start.
Get The $200 Bonus
This link will take you to the sign up page on the Bank of America website.
Featured photo by Don Stouder on Unsplash
