Posted by William Charles on January 28, 2016
Bank Account Bonuses

Published on January 28th, 2016 | by William Charles


Bank of America $100 Business Checking Bonus – Nationwide & Online

There’s now a sign up bonus for $200 with the same requirements, so this $100 bonus is useless.

Offer at a glance

  • Maximum bonus amount: $100
  • Availability: Nationwide
  • Direct deposit required: Yes, $1,000+ (not usual restrictions on this account)
  • Additional requirements: None
  • Hard/soft pull: Soft
  • Credit card funding: None, but can fund with a debit card up to $250
  • Monthly fees: $16-$29.95
  • Early account termination fee: None mentioned
  • Expiration date: December 31st, 2016

The Offer

Direct link to offer

  • Receive a sign up bonus of $100 when you open a new eligible small business checking account with Bank of America and complete the following requirements:
    • Make at least $1,000 in Qualifying Deposits (less cash received) into that new business checking account within sixty (60) days of account opening

bofa $100 business checking

The Fine Print

  • You are not eligible for the $100 Bonus if you were an owner or signer on a Bank of America business checking account within the last six (6) months
  • Offer is available only online and not available in a financial center or by phone
  • “Qualifying Deposits” are deposits of funds new to Bank of America and/or Merrill Lynch®
  • If you meet the Requirements to Receive the $100 Bonus, we will make every attempt to deposit the earned $100 Bonus directly into your new business checking account within ninety (90) days of meeting the Requirements to Receive the Bonu
  • Eligible accounts are Business Advantage & Business Fundamentals
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Business Fundamentals $16 Per Month

Monthly fee is waived if you do any of the following:

  • A $3,000 minimum daily balance in your primary account
  • A $5,000 average monthly balance in your primary account
  • A $15,000 combined average monthly balance in linked business accounts
  • Make $250 in net new qualifying purchases each billing cycle on your Bank of America business credit or debit cardfootnote

Business Advantage $29.95 Per Month

The Business Advantage checking account comes with a monthly fee of $29.95 per month, but this fee is waived for the first three months. After this introductory period you need to do any one of the following to keep it fee free:

  • $15,000 average monthly balance
  • $35,000 combined average monthly balance of linked business accounts
  • Spend $2,500 per month in new purchases using a linked Bank of America business credit card
  • Actively use Bank of America Merchant Services or Payroll Services by Intuit® or Remote Deposit Online service

I think the best option is to not worry about the monthly fee the first three months and then either have a $15,000 average balance (you’d be losing out on $12.5 a month in interest compared to a 1% checking account) or putting $2,500 per month on a linked Bank of America business credit card.

Our Verdict

Bank of America offered a much better $2,000 in branch bonus last year, I doubt they will offer something so great again but who knows. You should be able to get this deal again once your account has been closed for 6 months. Personally I’d just wait, this $100 bonus isn’t due to expire until December so worth holding out for something better and if nothing comes along then this would be an option. Personally I think keeping the account fee free is a bit too much of a hassle, but the direct deposit requirements are easy to meet. Because of these reasons I haven’t added this to my best new checking account list.

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$100 for Personal Checking is also available.

Open a Bank of America Core Checking® or Bank of America Interest Checking® account by April 15, 2016
Set up and receive 2 qualifying direct deposits of $250 or more each within the first 90 days of opening your new checking account


Eligibility: Offer only available to customers and Bank of America employees who receive this offer via a direct communication from Bank of America. New personal checking account must be opened by April 15, 2016. Bank of America may change or terminate this offer before this date without notice. 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.

Not sure if you can get if without being targeted. The link is public. I get this offer when I log out of my BoA credit card account.


was there an actual definitive expiration for the $1-2k BoA Biz Checking promo last year. did it for sure end on 11/30 or can you still call up your local banker and get enrolled in it still?

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