Posted by William Charles on October 3, 2018
Bank Account Bonuses

Published on October 3rd, 2018 | by William Charles


Bank of America $100 Checking Bonus – Public & Nationwide

Update 10/03/18: Offer is back and valid until December 31, 2018. Could especially make sense in conjunction with the upgraded $900 Merrill Edge offer. (Hat tip to reader LW)

Update 03/26/17: Offer is back and valid until May 31st, 2018. Hat tip to reader Bhanna

Update: 01/10/18: Offer is back and valid until February 28th, 2018. Had been expired since end of December 2017. Also looks like you’ll be eligible for a second bonus as long as your old account has been closed for six months. Hat tip to reader LAG.

There is a targeted $300 offer, please check to see if you’re targeted for that before thinking about this one!

Offer at a glance

The Offer

Direct link to offer

  • Bank of America is offering a $100 bonus when you open a new eligible checking account and complete the following requirements:
    • Receive two qualifying direct deposits of at least $250 each within 90 days


The Fine Print

  • This offer is intended for new checking customers only; you are not eligible for this offer if you were a signer on or owner of a Bank of America personal checking account within the last six (6) months. Offer expires on December 31, 2017 February 28th, 2018 May 31st, 2018; however, Bank of America may change or discontinue this offer at any time before this date without notice.
  • A “Qualifying Direct Deposit” is a recurring direct deposit of a paycheck, pension, Social Security or other eligible regular monthly income, electronically deposited by an employer or an outside agency into your new checking account. A transfer done via ATM, online, or teller, or a transfer from a bank or brokerage account, Merrill Edge® or Merrill Lynch® account is not a Qualifying Direct Deposit
  • If you meet all of the requirements, we will attempt to deposit the earned bonus directly into your new personal checking account within sixty (60) days; if unable to do so, a check will be issued. The new personal checking account must be open up to and including the date any earned bonus is paid in order to receive the bonus.
  • Your account does not qualify for the bonus until you provide all of the information we require in connection with opening the account by the promotion end date. This includes information we require to identify each account owner and to report the bonus to the Internal Revenue Service (IRS), including a validly completed IRS Form W-9 or Form W-8 (as applicable).
  • The value of this bonus may constitute taxable income to you. Bank of America may issue an IRS Form 1099 (or other appropriate form) to you that reflects the value of such bonus. To the extent required by law, Bank of America may withhold tax or other amounts from the payment. Please consult your tax advisor, as neither Bank of America, its affiliates, nor their employees provide tax advice.

Avoiding Fees

Early Account Termination Fee – None

This account has no early account termination fee.

Core Checking

The Core Checking account has a $12 monthly fee, which can be waived in any of the following ways:

  • Make at least one qualifying Direct Deposit of $250 or more, OR
  • Maintain a minimum daily balance of $1,500 or more, OR
  • Be a student under age 23 and enrolled in high school, college, or vocational program, OR
  • Enroll in the Preferred Rewards program and qualify for the Gold, Platinum, or Platinum Honors tier (first 4 checking accounts only).

Interest Checking

The Interest Checking account has a $25 monthly fee, which can be waived in either of the following ways:

  • Maintain combined balances of $10,000 or more each statement cycle, OR
  • Enroll in the Preferred Rewards program and qualify for the Gold, Platinum or Platinum Honors tier (first 4 checking accounts only).
  • “Combined balances” include:
    • Average daily balances for the statement cycle in eligible linked checking, savings and money market savings accounts, AND
    • The current balances, as of the end of the Interest Checking statement cycle in linked personal CDs and IRAs, AND
    • The current balance, as of two business days before the end of the Interest Checking statement cycle, in your eligible linked Merrill Edge and Merrill Lynch investment accounts.

Our Verdict

As mentioned before there is a targeted $300 checking bonus from Bank of America, they both have the same expiry date of December 31st, 2017. If I wasn’t targeted for that deal I’d do this one as it looks pretty easy to meet the requirements and it’s nationwide (you can also repeat it if you haven’t had an account within the last 6 months). Because of that I will be adding this to our best checking sign up promotion page. There is also a $200 business checking bonus or $300 + $200 in branch business checking bonus.

Big thanks to reader, Curmudgeon who let us know. Learn how to find bonuses and contribute to the site here.

Useful posts regarding bank bonuses:

Leave a Reply


newest oldest
Notify of

I know it says it in the fine print but anyone have luck on triggering a DD without actually doing one for BOA?

Be careful when you use that list. Some will only count as direct deposit to waive the fee but not to trigger the bonus. (i.e. ACH)

When is the last time they had a public offer greater than $100, if ever?

Is there any way to see if you are targetted if you have never done anything with BoA or do you absolutely need an account already?

DP: I signed up for this bonus back in December or January, ACH from Discover worked to avoid the account maintenance fee but my bonus never posted.

Thanks for let us know.

Yeah doc I already posted this but my Robinhood DD attempt did not work for the $300 targeted bonus in Feb/March

I really want a checking account for Preferred Rewards but there seems to be mixed DPs about whether or not they actually pull Chex. I’m sure they’ll deny me if they pulled it with how many inquiries I have recently

BoA is not Chex sensitive. You’ll be fine.

I’ll second the lack of sensitivity. Was ‘processing’ for a moment and approved within minutes. No opening deposit was requested, likely because I already have a savings account.
Getting turned down would have been comical though, because I’m about to transfer a large chunk of cash into Merrill Edge.

Not sure if I want to bother trying with so little ACH transfers triggering the bonus.
Not worth annoying my HR people again to change my direct deposit.

Sign-up, transfer money from 10 different bank accounts, hope for the best? lol.

That’ll probably be my strategy as well.

If I close an account on 6/30 and open one on 12/31 am I eligible?

Not very tempting. Plus, I’m still in recovery from the otherwordliness of Wells Fargo and HSBC. Ugh!

I think BOA might be sensitive to having a lot of open accounts. I tried to do the business checking bonus two months ago and had my account closed two days later after opening due to information from “early warning systems”.

I had a similar experience applying for this one. I have added 3 new accounts over the last month, applied for this one, got the debit card and account number, nothing worked, phone reps didn’t have any info to verify me. Went into the branch today and they told me risk management pre-emptively closed the account. Need to go pull my ChexSystems report, but I shouldn’t have any negatives.

We’re there any negatives on your Chex system report?

Made 2 $250 ACH from HSBC didn’t trigger the bonus

Does 360 transfer count?

No DPs on it in the DD methods page. I’d do a backup fund as well

Been getting $150 targeted mailers, one expires soon. Recently got the Merrill+. Any reason to think the $150 mailers will turn into $300 if I wait; or that the Merrill+ will kill chances of future targeted offers?

Is it best to open online opposed to opening in branch? When you state can be funded with a debit card do you do that at the same time when you open the account?

Applied and got rejected. Looks like I’m still banned from BoA..meanwhile Chase and Citi keep calling/emailing me to move my funds back to them for Gold/CPC service.

Still good DP for me. Won’t bother applying for Merrill+ card since that would probably be denied as well…

Why did they ban you?

Opened checking account, linked two other bank accounts to push, pushed one $250 from Schwab Brokerage, account closed by corporate. Waiting on the letter.

Really wanted to establish a relationship here too for CC’s.

Also, I have 20ish checking accounts opened in the past 2.5 months. I see reports they pull Chex and EWS. Not sure if that did me in.

Back to Top ↑