Bank of America Promotions – $100, $200, $500 Checking Offers

Bank account promotions can help you earn more for opening a new account. Check out what Bank of America has to offer new customers who open qualifying accounts.

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Navigating the world today practically requires a bank account. With so many banks to choose from and hundreds of perks to contemplate, it can be difficult to figure out which one is the best for you.

Taking advantage of Bank of America promotional offers can help you narrow the list down. Then again, it can open up a whole new set of opportunities to choose from. 

If you’re partial to Bank of America and want to see what this financial institution can do for you, you’ve come to the right place. Our guide introduces you to some of the best promotions this bank offers currently, including both personal and business accounts.

There are plenty of rewards available for the taking and we’ve got all the guidelines you need to follow to get them.

Are you ready to see how much you can earn from opening a Bank of America account? Let’s get started!

What Perks Does Bank of America Offer? 

Bank of America is the second-largest bank in the United States with over 37 million customers. There are just over 4,000 physical locations across the nation, with access to over 16,000 ATMs. Bank of America offers customers a wide variety of financial products to choose from, including the promotions listed below. 

Depending on your qualifications, you may be eligible for a bonus for opening a new checking account. You’ll need to make a minimum direct deposit within a set time if you open a personal checking account.

Business checking accounts require a minimum number of new-money deposits and an average daily balance to qualify. Visit your local Bank of America for more details, but in the meantime, check out the promotions they’re offering for 2023.

Related: Bank of America Overdraft Fees and Limits

Bank of America Promotions for 2023

For each of these promotions below, you’ll need to open a new account and keep the account open to receive the corresponding bank account bonus. In some cases and states, your bonus may be taxable. 

Advantage Banking: $100

Bank of America offers three different checking accounts within the Advantage Banking tier that all offer a $100 new account offer. Each one offers various services, along with a corresponding monthly fee.

All three Advantage Banking checking accounts are eligible to enroll in Preferred Rewards, which ups the ante when it comes to perks.

<strong><strong>Bank of America Advantage SafeBalance Banking</strong></strong>

Bank of America Advantage SafeBalance Banking: Though this basic checking account doesn’t allow you to write paper checks, it does offer one of the lowest minimum deposits required to open the account. You’ll need at least $25 to get started, but you’ll pay a $4.95 monthly fee unless you are a student under 24 years old or are enrolled in Preferred Rewards.

<strong><strong>Bank of America Advantage Plus Banking</strong></strong>

Bank of America Advantage Plus Banking: This checking account from Bank of America resembles your average checking account with some perks. You will pay a $12 monthly maintenance fee, but again, you can avoid this fee if you’re a student or a Preferred Rewards member. Additional eligibility requirements for waiving the monthly fee include having a qualifying deposit of $250 or more or a daily balance of $1,500 or more. You’ll need at least $100 to open this account. 

<strong><strong><strong>Bank of America Advantage Relationship Banking</strong></strong></strong>

Bank of America Advantage Relationship Banking: Members who open this account earn interest on their balance, though you’ll still need at least $100 to fund the account. The $25 monthly fee goes away if you’re a Preferred Rewards member or have a combined balance of $10,000 or more in your linked accounts. 

Keep in mind:

You can easily open any of the above checking accounts online using the offer code: DNA100CIS to earn a $100 bonus.

You’ll need to receive a qualifying direct deposit of at least $1,000 within three months of opening the account.

Qualifying deposits include those from a salary, pension, or Social Security benefits. You must open the account by December 31, 2022 to receive the reward, which will be awarded within 60 days of meeting the requirements.

Business Checking: $100-$200

Bank of America also offers several business bank accounts to help support your livelihood:

<strong>Business Advantage Fundamentals</strong>

Business Advantage Fundamentals: Bank of America’s basic business checking account allows you 200 free transactions per month and requires $100 to open. You’ll pay a monthly maintenance fee of $16 unless you make a purchase of $250 or more with your debit card. You can also waive the fee by enrolling in Preferred Rewards, just like with Bank of America’s personal checking accounts.

<strong><strong><strong>Business Advantage Relationship Banking</strong></strong></strong>

Business Advantage Relationship Banking: For a more comprehensive approach to business banking, choose this account from Bank of America. There is a $29.95 fee associated with the account, which you can waive if you keep a combined average balance of $15,000 or more or become a Preferred Rewards member. Your business will get 500 free transactions with this account, which requires $100 to open. 

Keep in mind:

To earn free money while setting up your business checking account, go online and open one of the Business Advantage checking accounts above.

As long as you make a qualifying direct deposit of $3,000 within 30 days of opening the account and maintain that balance until the account is 90 days old, you’ll be eligible for a $200 bonus.

If you can only deposit and maintain a $1,000 balance, you’ll be rewarded with $100 instead.  

These accounts give your business access to Cash Flow Monitor and many other tools in addition to specialists who can help you navigate the world of business.

Bank of America’s business accounts are best for small businesses looking to get ahead as they grow.  

Bank of America® Premium Rewards® Credit Card – $500

Bank of America® Premium Rewards® Credit Card

Bank of America also offers several promotions for their credit cards as well. The Premium Rewards Credit Card carries with it an annual fee of $95, but you can earn up to $500 if you spend $3,000 or more within 90 days of opening the account.

Bank of America rewards you with two points for every dollar you spend, and you can redeem these points for travel statement credits.

Best of all, there’s no expiration date on this offer, so as long as you qualify for the card, you can earn up to $500 in rewards. 

Bank of America’s Premium Rewards Credit Card also rewards you with up to $200 for TSA PreCheck or Global Entry every four years. The APR ranges from 18.99% to 25.99%, which is a little steep compared to other cards, but it can be worth it if you travel a lot and want these benefits.

About 8-12 weeks after you’ve met the spending requirements, you’ll receive your corresponding reward.

Bank of America® Customized Cash Rewards Credit Card – $200

Bank of America® Customized Cash Rewards Credit Card

You can also earn up to 3% cash back with the Bank of America Customized Cash Rewards Credit Card.

There’s no annual fee and you’ll have the benefit of 0% APR for the first 18 billing cycles. After that, the variable APR ranges from 16.99% to 26.99%.

In order to earn the $200 bonus, you’ll need to spend at least $1,000 on purchases within the first 90 days.

Balance transfers won’t count for the bonus and you’ll have to open a new account to qualify. You can also boost your points through a Preferred Rewards membership.

Once you qualify for and meet the requirements of this promotion, you’ll receive your bonus in 8-12 weeks. 

Bank of America® Travel Rewards Credit Card – $250

Bank of America® Travel Rewards Credit Card

If the idea of an introductory 0% APR piqued your interest, you should check out the Bank of America Travel Rewards Credit Card.

This card offers you unlimited points of 1.5 points per dollar and rewards you with 25,000 bonus points (a $250 value) when you open the account.

You must spend at least $1,000 within the first 90 days but you can spend the 25,000 points on travel and dining. 

This particular Bank of America credit card offers no annual fee or foreign transaction fees. Once the introductory APR rate expires, your new rate can range anywhere from 16.99% to 26.99%.

Merrill Edge Self-Directed Investment Account

Finally, Bank of America also offers an investment account you can take advantage of to earn rewards. This stock broker promotion is available nationwide to new accounts opened online. Just use promo code 600ME to get started. 

To earn your $600 welcome bonus, open a Merrill Edge Self-Directed investment account and make an initial deposit within 45 days.

You’ll need to maintain that balance for 90 days after opening the account to earn your bonus, which is deposited 14 days after that. 

To earn the full $600, you’ll need to deposit $200,000 within 45 days of opening the account. If you can only deposit between $20,000 and $49,999, you’ll earn a $100 reward for doing so.

If you’re enrolled in the Preferred Rewards program, you may be eligible to increase this bonus to $1,000.


There are several alternatives to these Bank of America promotions that you can take advantage of to increase your wealth with passive income.

These are the best bank accounts may or may not offer some of the same features as Bank of America does, so it’s worth a second look to compare them.

Chase Business Complete Checking®: There’s no minimum deposit required to open this bank account. You also won’t have to set up direct deposit to earn up to $300 in rewards. This account does come with a $15 per month maintenance fee, but there are ways you can waive that with specific actions.

Citi Priority Account: This bank account allows you to earn $200 for a minimum balance of $10,000 to $30,000. Citi sets up their rewards for this account in tiers, so you can earn more if you deposit more money. There is a $30 monthly fee associated with this account, but you can waive that if you maintain a balance of $30,000 or more. 

Discover Online Savings: If you’re looking for a savings account, such as one to save for self-employment taxes, give Discover a try. The Online Savings account rewards you with $150 as long as you deposit at least $15,000 total in the first month. You can apply online or over the phone by using promo code CY922.

The best way to make the most of your new bank account is to earn rewards for your money. Be sure to read the fine print on these offers, as you’ll need to keep accounts open for a certain amount of time with each one. Failure to do so can result in losing your bonus and potentially even paying to close the account.   

Contact Bank of America Customer Service 

Have questions about a BoA bank bonus? You can contact Bank of America’s customer service representatives during Bank of America hours of operations, which is Monday through Friday from 8 a.m. to 9 p.m. Eastern Time (ET) at 1-800-432-1000. This line is also available for calls between 8 a.m. and 8 p.m. ET on Saturdays and 8 a.m. to 5 p.m. ET on Sundays. 

Here are additional numbers you can call for support: 

  • 1-800-933-6262 for technical support
  • 1-800-732-9194 for credit card support, including lost or stolen cards

You can also contact BofA customer service through online chat via the website or by mail at:

Bank of America

PO Box 25118

Tampa, FL 33622-5118


How can I get $100 from Bank of America?

You can earn $100 from opening a Bank of America Advantage Banking account or a Business Advantage Banking account. You may also be eligible to earn rewards from Bank of America credit card promotions. 

Who is eligible for a Bank of America bonus?

As long as you can qualify for a new bank account, you’re eligible for a Bank of America bonus. Simply follow the guidelines to earn your bonus. 

What banks are offering free money when you open an account?

Bank of America, Chase, Citi, and Discover all offer free money when you open an account, as long as you follow the associated guidelines. There are many other banks that will reward you in kind as well. 

What perks does a Bank of America account offer? 

Bank of America accounts allow you to take advantage of the benefits most checking accounts offer. In addition, if you become a Preferred Rewards member, you’re eligible for more perks. 

Put Your Money to Work with Bank of America Promotions

We hope you’ve found the Bank of America promotions within this article helpful in finding ways to make your money work for you. There are several opportunities you can take advantage of, from bank accounts for personal and professional use to credit cards and investment accounts. With these tools at your fingertips, there’s no telling what you can accomplish financially.

Other Bank Promotions:

About the author

Brian Meiggs
Hi, I'm Brian Meiggs! A personal finance expert, entrepreneur, and the founder of My Millennial Guide. My drive is to help others unlock the wealth of freedom and pave the path to financial success. With my bachelor's degree in finance, I help millennials follow the smart money in order to increase their earning potential and start building wealth for the future. I write regularly about side hustles, investing, and general personal finance topics aimed to help anyone earn more, pay off debt, and reach financial freedom. I have been quoted in major publications including Business Insider, Yahoo Finance, NASDAQ, Discover, GoDaddy, BiggerPockets, Fox News,, Quick Sprout, Money Geek, MSN Money and many more!