Bank of America Offering a $500 Bonus for New Business Checking Accounts

Bank of America Offering a $500 Bonus for New Business Checking Accounts

Bank of America has a new bonus of $500 for those who open a Business Checking account. This offer requires $20,000 in funds that you need to deposit n your new account and keep in there for 2-3 months. Let’s take a look at the details.

The Offer

Here are the requirements to earn this $500 cash bonus:

1. Open a new Business Advantage Relationship Banking or Business Advantage Fundamentals Banking account by July 31, 2022: AND
2. Make Qualifying Deposits of $20,000 or more in new money into your new Business Advantage Banking account within thirty (30) days of account opening; AND
3. Maintain an average balance of $20,000 during the Maintenance Period (begins thirty-one (31) days after account opening and ends ninety (90) calendar days after account opening) into the new Business Advantage Banking account.

Promotion Page

Key Terms

• New customers only; you are not eligible for this offer if you were an owner or signer on a Bank of America Business Advantage Banking account within the last twelve (12) months.
• Your account does not qualify for the bonus until you provide all of the information we require in connection with opening the account by the promotion end date July 31, 2022.
• Business Advantage Fundamentals Checking has a $16 monthly fee that can be waived with $250 in net new purchases on a business debit or credit card, average monthly balance of $5,000 or more, or if you become a member of Preferred Rewards for Business.

Conclusion

This is a very good bonus for new business checking accounts. We have previously seen a $750 offer from bank of America, but it required $50K instead.

With this latest offer you need to deposit $20K within the first 30 days and can keep it there for just a little over two months. You can keep the Business Advantage Fundamentals Checking account fee free with a $5,000 balance.

HT: Doctor of Credit

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