Bank of America $500 Bonus for New Checking Account
Bank of America has launched an offer that will get you a $500 bonus for opening a new checking account. This offer is available nationwide, and direct deposit is not required. Let’s take a look at the details.
The Offer
To earn this $500 bonus, you must open a new eligible Bank of America checking account with promo code MCC500CIS and deposit $15,000 or more in new money directly into the new checking account within 30 days of account opening.
You must maintain your checking account balance at $15,000 or above daily from days 31 to 120 after opening your account.
You also need to actively use the account by doing one of the following within 120 days of opening to receive a $500 bonus:
- Make at least one qualifying direct deposit
- Send a payment through Zelle® using your newly acquired checking account
- Make a Bank of America Mobile Check Deposit
- Use Bank of America Bill Pay to send a payment
Key Terms
- Bank of America Advantage SafeBalance Banking® for Family Banking accounts are not eligible for this offer.
- Use offer code MCC500CIS when opening your new account to enroll in this offer.
- You are not eligible for this offer if you were an owner or co-owner of a Bank of America personal eligible checking account within the last twelve (12) months.
- Offer limited to one incentive per client.
- Clients must have a U.S. domestic address (this includes Puerto Rico and P.O. Boxes) to qualify for this offer. Clients with any foreign address are not eligible for this offer.
Conclusion
The main requirement for this $500 bonus is that you need to deposit $15,000 in the new account and you must maintain that balance for about 90 days. That’s a good return compared to current interest rates.
The best option for this bonus is the Advantage SafeBalance Banking account which comes with a $4.95 annual fee that can be waived with a $500 balance, or if one of the account owners is under 25 years old.
HT: Doctor of Credit
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