Bank of America Checking Account Bonus: Your Choice of Account and a Fair Reward

If you’re looking for a new checking account and want to earn some extra cash while you’re at it, Bank of America’s limited-time bonus offer might be worth your attention. Right now, new customers can earn up to $500 in cash when opening an eligible checking account and meeting a few requirements.

Here’s everything you need to know to determine if this offer is right for you — and how to take advantage of it before it expires.

---

💸 What’s the Offer?

Up to $500 cash bonus
✅ Where to open: Online only
📅 Expires: January 31, 2026
🏦 Available Accounts:

• Bank of America Advantage SafeBalance Banking®

• Bank of America Advantage Plus Banking®

• Bank of America Advantage Relationship Banking®

---

✅ How to Qualify for the Bonus

To earn the bonus, follow these steps:

1. Open a new eligible checking account online through the official Bank of America promotional page (SafeBalance, Plus, or Relationship accounts are eligible — SafeBalance for Family Banking is not).

2. Set up and receive qualifying direct deposits totaling at least:

   • $2,000 to earn $100

   • $5,000 to earn $300

   • $10,000 to earn $500

   Deposits must be made within 90 days of opening your account.

3. Keep your account open and in good standing until the bonus is paid.

4. Once all requirements are met, Bank of America will attempt to pay the bonus within 60 days.

---

🔍 What Counts as a Qualifying Direct Deposit?

A qualifying direct deposit includes regular income like your paycheck, pension, or Social Security, sent directly to your account using the account and routing numbers you provide to the payer.

---

💡 Is This Bank of America Bonus Worth It?

It depends on your situation. If you already need a checking account and can meet the deposit requirements (and possibly avoid the monthly maintenance fee), this could be an easy way to earn a solid cash bonus.

But if you’re considering the Advantage Relationship Banking® account specifically, the value gets murkier. This account requires you to maintain a $20,000 balance to avoid the $25 monthly fee — and it only earns 0.01% to 0.02% APY. That same money in a high-yield savings account earning 4% APY could net you far more in interest.

Example:

• $20,000 in Relationship account = $2/year interest

• $20,000 in a 4% savings account = $800/year interest

So while the bonus sounds appealing, the account’s long-term value might not match what you could get elsewhere.

---

🧾 Monthly Fees & How to Waive Them

---

🏦 Breakdown of Eligible Accounts

✅ Bank of America Advantage SafeBalance Banking®

• Best for: Younger users or those who want to avoid overdrafts

• Min. deposit to open: $25

• Notable features:

  • Doesn’t allow overdrafts (transactions declined if funds are insufficient)

  • No overdraft fees

  • Monthly fee waived if you meet certain criteria

---

✅ Bank of America Advantage Plus Banking®

• Best for: Everyday banking needs with easy options to waive fees

• Min. deposit to open: $100

• Notable features:

  • Standard checking account

  • Overdraft protection available (up to 2 fees/day)

  • Easy fee waivers through deposits or balance minimums

---

✅ Bank of America Advantage Relationship Banking®

• Best for: High-balance customers looking for bundled perks

• Min. deposit to open: $100

• Notable features:

  • Pays minimal interest (0.01%–0.02% APY)

  • Ideal only if you already plan to keep a large balance

  • Can help you qualify for Preferred Rewards (with combined $20,000 average balance)

---

🚫 Who’s NOT Eligible?

• If you’ve had a personal checking account with Bank of America in the last 12 months (including joint accounts), you won’t qualify for this offer.

---

🧠 Creditvana Insight

If you’re switching banks or opening a new account, this bonus is a smart way to earn some extra cash — as long as the account fits your banking habits.

But remember: The goal isn’t just to chase bonuses. Make sure the account you open aligns with how you manage your money, and check for other options (like high-yield savings accounts) if you’re looking to maximize your returns.

---

👉 Want More Bonus Offers?

Creditvana keeps track of the best bank bonuses, rewards checking accounts, and cash offers — so you don’t miss an opportunity to put your money to work for you.

---

Ready to earn your bonus?
Check if you’re eligible and open your account through Bank of America’s promotional page.