Bank of America is Offering a $500 Bonus Nationwide
Bank of America has a bonus for those who are looking for a new business checking account. You can make $500, although it’s most likely $300 and a credit card bonus for most people. This is the same bonus that some people have been targeted with in the past, but it is now available for everyone.
The Offer
Here’s how the bonus works:
- Open a Business Advantage Checking account OR Business Fundamentals® Checking account by March 29, 2019 and make Qualifying Deposits of at least $5,000 in the first 60 days after account opening. Qualifying Deposits are deposits of funds into your new small business checking account that are not transfers from other Bank of America® and/or Merrill Lynch® accounts.
- Customize your relationship with us by adding 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.
Key Terms
- Offer only available to customers who receive this offer via a direct communication from a Bank of America small business specialist or from a Bank of America communication.
- You must open your Bank of America business checking account by March 29, 2019
- Business Fundamentals® Checking has a $18 monthly fee that is waived when:
- Spend $250 in net new purchases on a business debit or credit card
- Maintain an average monthly balance of $5,000 or more
- Maintain a minimum daily balance of $3,000
- Maintain a combined average monthly balance of $15,000 or more in your linked Bank of America accounts
- No early closing fee.
Conclusion
Even though it’s advertised as a $500 bonus, only $300 is likely the most that you will be able to get. You need to be approved for and activate a Bank of America Merchant Services account to get the full $500 bonus, and that’s not worth it, unless you need it for your business.
For the $300 bonus you need to also open a credit card, and you can stack this with a signup bonus for a credit card that you might have your eyes on.
The offer also has a targeted language but it should be available for everyone since it shows up on the public page.
HT: Doctor of Credit
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If you do the credit card option, do you end up with $300 + $200 + $200 for the credit card bonus = $700 total?
You are reading it wrong.
$300 for an account
$500 if you *either* open a CC or a merchant account.