Bank of America Checking Account Cash Bonus Promotion (2024)

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 new customers – Bank of America has a $200 Bonus Offer. (plus one offer for business checking)

And one bonus offer for Merrill Edge, their brokerage.

Member FDIC.

💵 U.S. Bank – up to $450

Earn up to $450 when you open a new U.S. Bank Smartly® Checking account and a Standard Savings account and complete qualifying activities. Subject to certain terms and limitations. Offer valid through July 17, 2024. Member FDIC.

Offer may not be available if you live outside of the U.S. Bank footprint or are not an existing client of U.S. Bank or State Farm.

Learn more about this offer

• This Bank of America’s Cash Bonus Offer is very popular!
• BMO Bank offers $500 Cash for a new account.

Promotions For New Customers to Bank of America — Cash Bonus Offer

If you are not a Bank of America Advantage Banking customer, their nationwide online offer is a $200 Bonus Offer and must be opened through the Bank of America promotional page.

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.

To qualify, open a new eligible Bank of America Advantage Banking account through the promotional page and set up and receive Qualifying Direct Deposits totaling $2,000 or more into that new eligible account within 90 days of account opening.

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.

Bank of America, N.A. Member FDIC.

Bank of America Business Banking – $200

Bank of America will give you a large cash bonus when you make large qualifying deposits within 30 days of opening the checking account and then maintaining the average balance during a 60-ish day maintenance period. These must be funds that is not currently or previously been held at an account at Bank of America or Merrill.

The $200 bonus offer is simple – make deposits of $5,000 or more in New Money within 30 days of account opening and then keep it there during the Maintenance Period, which starts 31 days after account opening and ends 90 days after account opening.

You can open either a Business Advantage Fundamentals™ Banking or Business Advantage Relationship Banking account for this bonus. Both have a monthly fee that can be avoided.

Merrill Edge Self-Directed – up to $600

Bank of America’s Merrill Edge has a welcome bonus offer of up to $600 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 600ME.

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

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.

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.