Bank of America is one of the largest banks in the United States and chances are you have a branch just around the corner.
While headquartered in Charlotte, North Carolina, Bank of America has approximately 4,600 retail branch locations and almost 16,000 automated teller machines sprinkled throughout the country. I did a quick search on their location tools and found 50 results within 12.7 miles! (many were ATMs, but still quite a sizable footprint)
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 two cash offers:
- For new customers – Bank of America will give you $100
- For existing customers (maybe) – Bank of America will give you $300
We’ll discuss both:
Citi Priority Account – $300, $700, or $1,500
Citi is offering $300, $700, or $1,500 when you open a Citi Priority Account by 10/4/2021.
Then, within 30 days of opening your account, deposit New-to-Citi funds and keep it there for 60 days. The bonus is based on the amount you transfer, starting at $15,000.
This is a limited time offer so don’t wait!
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Promotions For New Customers to Bank of America — $100
If you are not a customer of Bank of America at all, the offer is not as generous (though not all existing customers are offered the account bonus listed above). Their public nationwide offer is for $100 and to get it, you need to open a new checking account on their offer page.
Three Bank of America Checking accounts qualify for this bonus:
- Bank of America Advantage SafeBalance Banking® – $25 opening deposit, $4.95 monthly fee waived for eligible students or enrolees of Preferred Rewards
- Bank of America Advantage Plus Banking® – $100 opening deposit, $12 monthly fee waived with direct deposit or daily balance requirements, etc.
- Bank of America Advantage Relationship Banking® – $100 opening deposit, $25 monthly fee waived with direct deposit or daily balance requirements, etc.
Open the account and set up and receive at least 2 qualifying direct deposits of $250 or more into that account within the first 90 days of opening and you’ll get your bonus. Confirm the monthly fee waiver rules for each (they can change from when this is published) but they are relatively easy to satisfy.
Don’t forget, the Bank of America promotional offer code is DDX100CIS. If you click through the links on this site, the code will be entered automatically for you.
Learn more about this offer
(Offer expires December 31st, 2021)
Existing Non-Checking Customers — $300
If you already have an account with Bank of America, such as a credit card, but you don’t have a personal checking account, log in.
On the right-hand side of the screen, you’ll see an “Activity Center.” When you click on Special Offers & Deals, you may see the following offer.
“*This exclusive offer is only for select Bank of America® customers who don’t already have a personal checking account with us and who received an email or direct communication from Bank of America.”
The richest one we’ve seen is where you:
- Open a Bank of America Core Checking or Interest Checking account, and,
- Set up a qualifying direct deposit totaling $4,000 or more within the first 90 days of opening your account to get the $300 bonus.
The terms will be similar though the dollar amounts may vary based on what they’ve decided to offer you.
One key point to remember is that both accounts have monthly maintenance fees. These can be waived if you meet other qualifications such as a minimum daily balance or maintaining that direct deposit. The bonus money will be reported as income as a 1099-MISC.
To get this offer, you need to log into your existing Bank of America account and look in the Activity Center menu. If you don’t see it, it’s no longer available.
McAfee® LiveSafe™ 12-Month Subscription for Free
If you are an existing Bank of America customer, you can get McAfee® LiveSafe™ for 12 months absolutely free when you sign up for the service here. McAfee LiveSafe is an antivirus and security suite for your computer that protects PCs, Macs, phones, and tablets – it can also secure your Wifi when you use public networks.
It is structured as a 12-month trial period that will be renewed after the end of the year. You will have to cancel by calling 866-622-3911 or you will be billed. The service is normally $119.99 per year and their public first-year promotion is for only $39.99 (you get it free from Bank of America).
How Does This Compare?
If you’re an existing customer and qualify, the $300 bonus is strong. We maintain a list of bank bonus offers and there are very few offers that are as generous as the $300 (with such easy requirements). Since you already have an existing relationship with Bank of America, it makes the maintenance of the account very easy since you have a login already.
If you’re not a customer, the $100 bonus not bad but not as good as some others.
Citi Priority Account – $300, $700, or $1,500
Citi is offering $300, $700, or $1,500 bonus when you open an account by 10/4/2021. Then, within 20 days of opening your account, deposit at least $15,000 in New-to-Citi funds and keep it there for 60 days. The bonus amount is based on how much you can transfer but the lowest tier starts at $15,000.
Chase Total Checking® – $225
Chase Bank will give you $225 when you open a Total Checking account and set up and set up 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!
Capital One 360 Checking – $150
Capital One 360 has a $150 cash bonus when you open a new account and then receive 2 direct deposits totaling $250 or more within 75 days of account opening. Valid for new 360 Checking account customers. If you had a 360 Checking account with Capital One on or after January 1, 2018, you are ineligible.
HSBC Premier Checking – $600
HSBC has an offer where you can get up to $600 with a 3% cash bonus checking offer on qualifying direct deposits each month for the first six months of opening. It’s one of the more interesting deposit bonuses as it doesn’t rely on your account balance being a certain size. Click here to learn more about this offer.
Bank of America – $100
Bank of America offers a $100 cash bonus if you open a new account and set up and receive at least 2 qualifying direct deposits of $250 or more into that account within the first 90 days of opening. It has a monthly fee that is easy to have waived, you can learn more about this offer here.
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 $100 new account bonus is DDX100CIS.
Only when they have an active promotion, such as the $100 offer for opening a new checking account. The most popular promotion is getting $100 for opening a new account and set up and receive at least 2 qualifying direct deposits of $250 or more into that account within the first 90 days of opening.
DDX100CIS is the promotion code you must enter to get the $100 bonus for opening a new Bank of America checking account.
The code gives you $100 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.
Bank of America $300 Cash Bonus
- $300 for existing customers, $100 for new customers
- Wide geographic footprint
- Relatively easy bonus requirements
- Museums on Us program
- Lower bonus for non-customers
- Accounts pay no or little interest
- Monthly maintenance fees (that can be easily avoided)