Bank of America $300 Bonus for New Business Relationship
Bank of America has a bonus of up to $500 for new business relationships. You need to open a checking account, a credit card and a merchant services account to get the full bonus. However, you can skip the latter and still get $300, plus the credit card signup bonus.
The Offer
To Earn a $300 Bonus:
- Open a Business Advantage Checking account OR Business Fundamentals® Checking account by July 31, 2018
- Make qualifying deposits of at least $5,000 in the first 60 days after account opening.
- Add one or both of our select business accounts below and meeting the product qualifications:
- Apply, be approved for and open a new small business credit card account and spend at least $500 on the card within 60 days of opening a new business checking account.
- Apply, be approved for and activate a Bank of America Merchant Services account and settle funds totaling a minimum of $1,000 into your new business checking account within 60 days of opening a new business checking account.
To Earn an Additional $200:
You must meet all the three accounts in the $300 bonus.
Account Fees
Business Fundamentals Checking is probably the best option. It comes with a $18 monthly fee that is waived when you meet one of the following requirements each statement cycle:
- Spending $250 per month in new purchases using a linked Bank of America business debit or credit card
- Maintaining a minimum daily balance of $3,000
- Maintaining an average monthly balance of $5,000
- Maintaining a combined average monthly balance of $15,000 in linked accounts
Conclusion
This is not as good as that amazing $1,000 offer that we saw a while back from Bank of America, but should still be worth it. I’m not sure what their Merchant Services account is about but unless you’re interested in that service, I think it’s best to skip it. That leaves you with a maximum bonus of $300. To get the bonus you need to open an business checking account and credit card. You then need to deposit $5,000 within 60 days in the account and also spend $500 in 60 days on your business credit card.
This offer stack with the signup bonus from the business card that you choose. Alaska Airlines Business Card could be the best option.
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