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RD
RD

Did I screw up it up?

12/18 – Open

12/24 – 1/23 – 11 different $1 ACH transfers from Ally

2/5 – $20k deposit from Ally (this is the 49 day mark)

3/19 – $20k withdrawal

No bonus yet.

Dan
Dan

Did you ever get the bonus? Thanks.

mishyq
mishyq

I am targeted for the SB750 offer, the offer expires June 12, 2020

Has anyone actually have to go through the below when applying for BOA Business Checking Account – specifically, the first step under “What to expect after applying”?

I was only planning to applying as sole proprietorship (SSN) and not sure what “supplemental documents” they need. Afaik, none are needed for my state

**The information you’ll need to apply**
Business documentation such as filing documents, articles of organization, articles of incorporation and/or certificate of resolution
Business Tax ID
Name and address of the business
The state in which the business operates
The state in which the business was formed
Date the business was established
The SSN, address and DOB of the business owner
What to expect after applying
When your application is complete, you will receive a confirmation email within a couple of hours.

**What to expect after applying**
You’ll need to fax your supplemental documents to 800.435.0051 or scan and email them to SmallBus.Documents@bankofamerica.com (include your application ID on the fax cover sheet or in the email subject line).

After your account is approved, you must send a signature card through traditional mail or take the card to a local financial center.

You can fund your account while applying by using a debit card, transferring money from another account or writing a check.

Once your account is open, you may access Online Banking and you will receive your checks and debit card(s) in approximately 7 to 10 business days.

nycdpj
nycdpj
John
John

guess they learned, lol, now you have to keep the money in there for 60 days.

Tim
Tim

Completed reqs 1/7, bonus just posted today 2/21.

dl73
dl73

11/29 – Single $20.1k check deposit in branch (which they held for 10 days)
12/11-12/13 Initiated 10 online billpays from BOA site
2/21 – $500 Bonus posted

John
John

Got mine as well, deposited 20k of checks at ATM and made various low-value debit purchases and the rest was billpaid out (early January). My city only has BofA ATMs, no branches.

bax
bax

I’m told it needs to be multiple cumulative “deposits” instead of a single “deposit” of $20k. WTF.

bax
bax

Also just heard that Escalation doesn’t consider the 20+ Bill Pay I made on the BOA site as “Qualifying Electronic Payments”. Rather, I’m supposed to make 10 electronic payments using only the Routing and Account Numbers, but not the debit card number, with other external sites/merchants. Double WTF.

Good thing I saved a copy of the terms & conditions, and am able to call out that BS: “Make ten (10) Qualifying Electronic Payments within 60 days of opening that new business checking account.
Qualifying Electronic Payments include, debit card, online bill pay, or ACH transactions, wire transfers or Zelle
payments (starting/available in June).”

RD
RD

Bax could you share the copy of of Terms and Services?

Baked
Baked

How did you resolve it with them ? About to go through this process myself…

bax
bax

Still unresolved, waiting for a call back from a customer service supervisor, supposedly within 48 hours. Now it’s going on 72 hours.

Baked
Baked

Did the supervisor get back to you ? Any luck with resolving this ?

bax
bax

No, they (same department, but different call centers; don’t know how to get back in touch with the Albuequeque NM call center that made the promise) reneged on that promise completely; telling me to wait until March 17th (that’s 150 days since account opening and 120 days since I met all the requirements). So I CFPB’ed them. Now waiting on that.

RD
RD

Do you have $20K parked there while waiting on CFPB

Tim
Tim

I made exactly only one deposit of $20,100 and my bonus just posted today.

bax
bax

Yeah, plenty of DPs everywhere that show one deposit should be ok. Actually I found I also had a second “deposit” (an ATM deposit of cash) made within 60 days. Just goes to show how “creative” BOA is at finding excuses and antagonizing us churners.

Josh
Josh

So how do we get targeted? 🙂

Tim
Tim

I want to point out a different angle that people may have missed doing the $20,000 bonus.

When you sign up for the checking account, it asks you if you want to enroll in Preferred rewards for business. If you check this box, and deposit $20,000 within 30 days, you automatically qualify for Gold as soon as you make the deposit, you don’t have to meet the usual 3 month waiting time.

Once you have the Preferred Rewards for Business Gold status, you automatically qualify for gold status for 12 months before they give you another balance test. This means you get the extra 25% rewards on boa business cards, and even better it makes the checking account completely fee free (therefore you don’t need to keep the $3K min balance in the account).

Pretty sweet deal for a fee-free year of business checking with a free year of 25% business CC rewards booster.

I guess you could use the same loophole to get Platinum/Honors status if you make an initial deposit of $50K/$100K, given that you don’t seem to need to keep the balance there to keep the benefits.

Baked
Baked

Tim Big thanks for this great tip !!! Platinum Honors benefits on the checking and also biz card.

COBOLCODERUSEALLCAPS
COBOLCODERUSEALLCAPS

10/11 – Account opened
10/18 – $20,100 check deposited
10/21 – 15 $0.01 debit card transactions and 10 Zelle transactions
01/17 – $500 bonus showed up

jx
jx

Did they ask you business documents?

COBOLCODERUSEALLCAPS
COBOLCODERUSEALLCAPS

No, mine was a sole proprietorship.

Baked
Baked

Congrats on getting the bonus. Why did you do both debit card transactions and zelle ?

COBOLCODERUSEALLCAPS
COBOLCODERUSEALLCAPS

I was paranoid because I finished the 15x debit transactions and didn’t get the bonus within the week, so I did extra qualifications just in case.

Baked
Baked

Thanks for the quick and frank response. Healthy paranoia is healthy! 🙂

Bobby
Bobby

Lol, I love DoCers. Healthy paranoia in search of greens!!

-t
-t

Anyone had the bonus post recently? I met all the requirements November 14th, but haven’t received the bonus. This is definitely different than the early datapoints of this bonus posting quickly.

CericRushmore
CericRushmore

About the same for P2. She is also still waiting.

Jennifer
Jennifer

Were you targeted via email? I just got approved online and am going to call a business banker to make sure my bonus was added. If not, I will just cancel the accounts.

-t
-t

Yes, I was targeted through a link after logging in on the desktop.

JC
JC

I just got my bonus yesterday. $500, after opening account on 9/30. So if you opened your account in November, just hang tight! It’s coming.

Miolry
Miolry

Was targeted on the online banking homepage. Applied in October. Met terms November 25 via three 7k+ mobile check deposits into account, along with AMZN reloads. No bonus yet. In early November I received a letter specifically stating the offer terms. Have screenshot of application page with offer code filled in.

Was just charged my first 29.95 monthly fee. Terms state bonus will be deposited within 60 days after eligibility period, which for me would be 2/2. I’m going to give it another month.

-t
-t

Thanks for the datapoint.

Why did you open the business advantage account?

Ferris
Ferris

She opened the bank account because she really loves Bank of America. Isn’t that why everyone opens up these accounts at DoC?

-t
-t

I guess I should have phrased the question as, “Why did you open the Advantage account instead of the Fundamentals?”

-t
-t

My bonus paid out late yesterday, 1/17.

Opened 9/24, met requirements 11/15.

CericRushmore
CericRushmore

P2 Bonus just posted. Check those accounts! She finished the requirements in November.

Erik
Erik

I was *not targeted* but started the application (with bogus SS#, name etc) to see if I would get an Offer Code;
On page 2 (Personal Information – but no info added) I selected “Do you have an offer code?”
It then showed Offer Code= SSDDIG.

Did anyone else see this? I wonder if that would mean that the promo would work…?

Jack
Jack

“SSDDIG is the same code I had prefilled in my targeted app yesterday that was mentioned by a below user. Just know that BOA is on record saying it doesn’t matter if you use the code or not if you weren’t targeted.” This is an exact quote from a previous post.