Best Bank of America Checking, Savings Accounts Deals & Bonuses
Bank of America is one of the biggest banks in the country and it's not surprising if you're considering a new account with the bank. On occasion, Bank of America offers attractive deals and bonuses for new account sign-ups.
Find out what account bonuses and promotions are available:
Bank of America Checking Account Deals
Bank of America Checking $100 Bonus
| Type | Details |
|---|---|
| Bonus Amount | $100 |
| Expiration Date | 6/30/2021 |
| Availability | Nationwide |
| Credit Inquiry | Soft Pull |
| ChexSystems (Banking Report) Inquiry | Yes |
| Minimum Opening Deposit | $25 to $100 (depending on the account) |
| Where to Apply | Deals page |
Open a Bank of America Advantage Plus Banking or Bank of America Advantage Relationship Banking account and post 2 direct deposits of $250 or more within 90 days of account opening to earn a $100 cash bonus.
The bonus is deposited into your account within 60 business days of meeting the bonus requirements.
Bank of America Advantage Plus Banking Account Fees
| Type | Fee |
|---|---|
| Monthly Maintenance Fee | $12 |
| Out-of-Network ATM Fee | $2.50 |
| Overdraft Fee | $35 |
| Returned Item | $35 |
| Stop Payment | $30 |
| Deposited Item Returned or Cashed Check Returned | $12 |
| Incoming Domestic Wire Transfer | $15 |
| Incoming International Wire Transfer | $16 |
| Money Order | $5 |
| Cashiers Check | $10 |
How to Avoid the Advantage Plus Banking Account Monthly Fee
This account is the entry-level checking account that is available from Bank of America. It has a $12 monthly maintenance fee that can be avoided when you meet one of the following:
- Have at least one qualifying direct deposit of $250 or more
- Maintain a minimum daily balance of $1,500 or more
- Be a qualifying student under the age of 24
- Have Preferred Rewards status
Bank of America Advantage Relationship Account Fees
| Type | Fee |
|---|---|
| Monthly Maintenance Fee | $25 |
| Out-of-Network ATM Fee | $2.50 |
| Overdraft Fee | $35 |
| Overdraft Protection Transfer | $0 |
| Returned Item | $35 |
| Stop Payment | $0 |
| Deposited Item Returned or Cashed Check Returned | $12 |
| Incoming Domestic Wire Transfer | $15 |
| Incoming International Wire Transfer | $16 |
| Money Order | $0 |
| Cashiers Check | $0 |
Ways to Waive the Advantage Relationship Banking Account Monthly Fee
This account is a premium checking account that allows customers to earn interest on their balances. It has a $25 monthly maintenance fee that can be avoided when you meet one of the following:
- Maintain a combined balance of $10,000 or more in eligible Bank of America deposit accounts, IRAs, and Merrill Edge and Merrill Lynch investment accounts
- Have Preferred Rewards status
Additional perks of this account include free overdraft protection transfers, standard checks, and incoming domestic wire transfers.
Compare to Online Checking Accounts
Bank Bonuses Are Reported on Taxes
In the fine print of Bank of America's account bonuses and deals, it states that the income you receive will be reported to the IRS.
You'll have to report it on your tax return through a Form 1099-INT. You should expect to pay taxes on it -- under your personal tax bracket.
