Bank of America is one of the largest banks in the United States and there’s a pretty good chance that you have a branch just around the corner from you.
While headquartered in Charlotte, North Carolina, Bank of America has thousands of ATMs and Financial Centers around the nation. I did a quick search on their location tools and found 50 results within 12.7 miles near me!
My main brick & mortar bank is Bank of America for this very reason – they’re everywhere.
Bank of America is the second-largest bank behind JPMorgan Chase – and today you can find out how they will give you money to open an account with them.
Bank of America has one bonus offer for the bank – for new customers – Bank of America has a $200 Bonus Offer.
And one bonus offer for Merrill Edge, their brokerage.
Table of Contents
Promotions For New Customers to Bank of America — Cash Bonus Offer
Bank of America Bonus Summary
- What you get: $200 Bonus Offer, See offer page for more details
- Who qualifies: New checking customers only
- Promotion code: TWT200CIS
- Where to open: Online only
- How to get it:
- Open a Bank of America Advantage Banking checking account through the promotional page.
- Set up and receive qualifying direct deposits totaling $2,000 or more into that account within 90 days of account opening.
- Bank of America will attempt to pay bonus within 60 days.
- Additional Terms and Conditions apply. See the Bank of America offer page for more details.
- When does it expire: 1/31/2024
Three Bank of America Banking accounts qualify for this bonus:
- Bank of America Advantage SafeBalance Banking® – $25 minimum opening deposit and $4.95 monthly maintenance fee. See the offer page for ways to waive the monthly fee.
- Bank of America Advantage Plus Banking® – $100 minimum opening deposit and $12 monthly maintenance fee. See the offer page for ways to waive the monthly fee.
- Bank of America Advantage Relationship Banking® – $100 minimum opening deposit and $25 monthly maintenance fee. See the offer page for ways to waive the monthly fee.
Open the account and Set up and receive qualifying direct deposits totaling $2,000 or more into that account within 90 days of account opening to get your bonus.
Don’t forget, the Bank of America promotional offer code is TWT200CIS. If you click through the links on this site, the code will be entered automatically for you.
Learn more about this offer
(Offer expires 1/31/2024)
Merrill Edge Self-Directed – up to $1,000
Bank of America’s Merrill Edge has a welcome bonus offer of up to $1,000 based on how much you deposit into your account. Merrill Edge is a brokerage account and the Self-Directed account is their self-managed investment account (rather than a robo-advisor).
The standard offer is a bonus of up to $600 but there are often other, non public, promotions if you look around. The amount of the bonus is based on the amount of your qualifying deposit, which you must make within 45 days and keep for at least 90 days.
The offer code is 1000PR.
|Qualifying Assets||Cash Bonus|
|$5,000 – $19,999||$50|
|$20,000 – $49,999||$125|
|$50,000 – $99,999||$200|
|$100,000 – $199,999||$350|
|$200,000 or more||$750|
If you aren’t a Preferred Rewards account, the bonus schedule is:
- $20,000 – $49,999: $100
- $50,000 – $99,999: $150
- $100,000 – $199,999: $250
- $200,000+: $600
(Offer expires 5/26/23)
How Does This Bonus Compare?
The $200 Bonus Offer is good from a dollar perspective but not as high as some others but the requirements are easy. Another advantage is that you get an account that is accessible almost anywhere – Bank of America’s footprint is enormous and that’s one of the reasons why it’s my primary bank account.
Also, I’ve never seen a higher offer from Bank of America so this is not a case of “wait and see” if they make a higher offer sometime later. It’s a nice little bonus for opening an account with them.
⭐ BMO Smart Advantage Checking – $400
BMO Bank is offering a $400 bonus* when you open a BMO Smart Advantage Checking and when you have a total of $4,000 or more in qualifying direct deposits within the first 120 days. It is a very straightforward offer that is available nationwide.
⭐Citi Priority Account – up to $2000
Citi Priority is offering up to $2000 bonus when you open an account by 1/9/2024. Then, within 20 days of opening your account, deposit at least $10,000 in New-to-Citi® funds and keep it there for 60 days after the 21st day. The bonus amount is based on how much you can transfer but the lowest tier starts at $10,000.
Discover Online Savings Account – $150 or $200
Discover Bank is offering a $150 or $200 bonus when you open your first Discover Online Savings Account with the promotion code WH923 and deposit at least $15,000 into the account within 30 days. You get $150 if you deposit $15,000 or more and $200 if you deposit $25,000.
Bank of America – $200 Bonus Offer
Bank of America offers a $200 Bonus Offer cash bonus if you open a new account and Set up and receive qualifying direct deposits totaling $2,000 or more into that account within 90 days of account opening. It has a monthly fee that is easy to have waived.
Chase Total Checking® – $200
Chase Bank will give you $200 when you open a Total Checking account and set up and receive a direct deposit within 90 days. There is a $12 monthly fee that is waivable with a monthly direct deposit of just $500, so no gotchas on this deal!
So as you can see, the public offer from Bank of America is OK. Other banks both have similar large geographic footprints (Chase is bigger) so you aren’t getting anything extra by going with Bank of America.
Before you take advantage of this or any other bank offer, review this guide on bank account bonuses to make sure you know what to watch out for.
The offer code for the $200 Bonus Offer new account bonus is TWT200CIS.
Only when they have an active promotion, such as the $200 Bonus Offer offer for opening a new checking account. The most popular promotion is getting $200 Bonus Offer for opening a new account and Set up and receive qualifying direct deposits totaling $2,000 or more into that account within 90 days of account opening.
TWT200CIS is the promotion code you must enter to get the $200 Bonus Offer bonus for opening a new Bank of America checking account.
The code gives you a $200 Bonus Offer for opening a new Bank of America checking account.
There are three checking accounts and the fees vary from $4.95 a month to $25 a month. They can be waived if you set up a direct deposit or maintain a high enough daily balance.