Bank of America provides various promotional incentives for opening new bank accounts, primarily focusing on checking accounts but also extending to savings options. For July 2026, new clients can receive up to $500 by opening an Advantage Plus account and depositing $10,000 via direct deposit, representing a 5% return. While this offer is attractive for those specifically interested in Bank of America, it's worth noting that other financial institutions may offer more competitive bonuses or higher deposit returns. This guide explores the details of the available Bank of America promotions, their requirements, and other essential account information.
Currently, Bank of America is offering several attractive bonuses for new checking account customers. These include the Advantage Plus, Advantage Relationship, and Advantage SafeBalance accounts, each providing opportunities to earn up to $500. Additionally, expired offers for Business Advantage Fundamentals and Business Advantage Relationship accounts, which offered $200 bonuses, highlight past opportunities for small business owners. The common requirement across these promotions is making qualifying direct deposits within a specified timeframe.
To secure a bonus, new customers generally need to open an eligible checking account through a provided link, ensuring the offer code is automatically applied. For the Advantage Plus, Advantage Relationship, and Advantage SafeBalance accounts, a bonus of $100, $300, or $500 depends on the amount of qualifying direct deposits made within the first 90 days, ranging from $2,000 to over $10,000. These qualifying deposits typically include regular monthly income or government benefits, excluding ATM deposits or peer-to-peer payments. Once requirements are met, the bonus is deposited within 60 days after the 90-day period, provided the account remains active and in good standing. Eligibility usually excludes individuals who have held a personal checking account with Bank of America within the last 12 months.
Account fees and other details vary by account type. For example, the Advantage Plus account has a $12 monthly fee, which can be waived with a qualifying direct deposit of $250 or more, a minimum balance of $1,500, or Preferred Rewards membership. The Advantage Relationship account carries a $25 monthly fee, waived if a minimum daily balance of $20,000 is maintained or if the account holder is a Preferred Rewards member. The Advantage SafeBalance account has a lower monthly fee of $4.95, waived with a minimum daily balance of $500, for account holders under 25, or for Preferred Rewards members. All accounts have out-of-network ATM fees and potential overdraft charges, with specific details differing based on the account structure. Understanding these terms is crucial for maximizing the benefits of these promotional offers.
Investopedia actively monitors various banks and credit unions to provide timely updates on account bonuses, including new, extended, and expired offers. The selection of banks is based on consumer interest, with a focus on reporting the most advantageous promotions. This continuous tracking helps consumers identify and leverage the best available checking and savings account bonuses, ensuring they are informed about current market opportunities and can take advantage of offers that align with their financial goals. This comprehensive overview of Bank of America’s promotions aims to help potential customers navigate their options effectively.
