[Expired] [ID, KY, LA, WI] Bank of America $350 Checking Bonus

Deal has expired, view more bank account bonuses by clicking here

Offer at a glance

• Maximum bonus amount: $350
• Availability: Available in selected areas in: ID, KY, LA, WI
• Direct deposit required: $4,000 in 90 days
• Additional requirements: None
• Hard/soft pull: Soft, as long as you opt out of overdraft protection
• ChexSystems: No
• Credit card funding: None, but you can fund with a debit card up to $250
• Monthly fees: $12, avoidable
• Early account termination fee: None
• Household limit: None listed
• Expiration date: September 15th, 2019

The Offer

Direct link to offer

• Bank of America is offering a checking bonus of $350 when you open a new checking account and complete the following requirements:
  • Set up and receive qualifying direct deposits totaling $4,000 or more within 90 days of opening your new checking account

The Fine Print

• This offer is limited to new checking customers only who reside in one of the Markets listed below.
• You are not eligible for this offer if you were an owner or co-owner of a Bank of America personal checking account within the last six (6) months. Fiduciary accounts (e.g., trust accounts) are excluded.
• Offer expires on September 15, 2019.
• Bank of America may change or discontinue this offer at any time before this date without notice.
• This offer is only available in the following Markets (by county or parish (LA only)):
  • Idaho: Ada, Boise, Canyon, Gem, Owyhee
  • Kentucky: Bourbon, Clark, Fayette, Jessamine, Scott, Woodford
  • Louisiana: Jefferson, Orleans, Plaquemines, St. Bernard, St. Charles, St. James, St. John the Baptist, St. Tammany
  • Wisconsin: Columbia, Dane, Green, Iowa
• Requirements to Receive the Online Only $350 Checking Account Bonus and ATM Fee Waiver: (1) Open a new eligible Bank of America personal checking account by September 15, 2019 (you must use the “Open now” link on the offer page at the time of account opening to be enrolled in this offer); AND (2) set up and receive Qualifying Direct Deposits equaling a total of $4,000 or more in your new personal checking account within 90 days of account opening.
• A “Qualifying Direct Deposit” is a recurring direct deposit of regular monthly income – such as your salary, pension or Social Security benefit or other eligible regular monthly income, electronically deposited by an employer or other payer 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. Please see the Personal Schedule of Fees for further explanation of eligible regular monthly income. 
• After you satisfy all of the requirements, we will attempt to deposit the earned bonus directly into your new personal checking account within sixty (60) days. The new personal checking account must be open and in good standing up to and including the date any earned bonus is paid in order to receive the bonus.
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

Easiest account to keep fee free seems to be the Bank of America Advantage Plus Banking account. This has a $12 monthly fee that is waived if you do any of the following:

• Maintain a minimum daily balance of $1,500 or more
• Receive a direct deposit of $250+
• Students under age 24 are eligible to have this fee waived while enrolled in high school, college, university or a vocational program.
• Preferred Rewards clients get this fee waived (waiver applies to first 4 checking accounts).

Early Account Termination Fee

As far as I know there is no early account termination fee.

Our Verdict

Better than the $300 checking bonus that was previously offered. Shame it’s only available in very selected areas. I’ll be adding this to our list of the best checking account bonus.

Hat tip to reader BACS

Useful posts regarding bank bonuses:

• A Beginners Guide To Bank Account Bonuses
• Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
• PSA: Don’t Call The Bank
• Introduction To ChexSystems
• Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
• What Banks & Credit Unions Do/Don’t Pull ChexSystems?
• How To Use Our Direct Deposit Page For Bank Bonuses Page
• Common Bank Bonus Misconceptions + Why You Should Give Them A Go
• How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
• Affiliate Links & Bank Bonuses – We Won’t Be Using Them
• Complete List Of Ways To Close Bank Accounts At Each Bank
• Banks That Allow/Don’t Allow Out Of State Checking Applications
• Bank Bonus Posting Times