Bank of America Promotions for December 2024 ($300 Checking Account Bonus)

Bank of America is the second largest bank in the United States, with more than $2.5 trillion in assets. Its headquarters is in Charlotte, North Carolina, but it has branch locations all over the county and serves over 69 million consumer and small business customers.

Over the years, Bank of America has also offered generous bank bonuses throughout the year. Here is a roundup of all the current Bank of America promotions you can take advantage of.

Bank of America Promotions and Offer Code

Bank of America Advantage Plus Checking Account – $300 bonus offer

Through January 31, 2025, you can earn a $300 bonus when you sign up for a Bank of America Advantage Plus checking account and complete the following requirements.

1. Open a Bank of America Advantage Plus checking account and use offer code LHR300CIS.
2. Set up $2,000 or more in qualifying direct deposits into your new checking account within 90 days of account opening.

Once the requirements have been completed, Bank of America will deposit the bonus into your account within 60 days. You will not be eligible for this checking account bonus if you already have an Advantage Plus account or have closed an account within the past 12 months.

Advantage Plus Requirements and Account Fees

• To open a Bank of America Advantage Plus personal checking account, you’ll need a minimum opening deposit of at least $100.
• Qualifying direct deposits must come from an employer in the form of your salary or from a pension or social security benefits.
• This account has a $12 monthly maintenance fee unless you have at least $250 in monthly qualifying direct deposits, maintain a daily minimum balance of at least $1,500, or are a member of their Preferred Rewards program.

Bank of America Advantage Relationship Checking Account – $300 bonus offer

Through January 31, 2025, you can earn a $300 bonus when you sign up for a Bank of America Advantage Relationship checking account and complete the following requirements.

1. Open a Bank of America Advantage Relationship checking account and use offer code LHR300CIS.
2. Set up $2,000 or more in qualifying direct deposits into your new checking account within 90 days of account opening.

Once the requirements have been completed, Bank of America will deposit the bonus into your account within 60 days. You will not be eligible for this checking account bonus if you already have an Advantage Relationship account or have closed an account within the past 12 months.

Advantage Relationship Requirements and Account Fees

• To open a Bank of America Advantage Relationship personal checking account, you’ll need a minimum opening deposit of at least $100.
• Qualifying direct deposits must come from an employer in the form of your salary or from pension or social security benefits.
• This account has a $25 monthly maintenance fee unless you maintain a minimum balance of at least $20,000 or are in their Preferred Rewards program.
• You can earn interest up to 0.02% APY with your Advantage Relationship checking account

Bank of America Advantage SafeBalance Checking Account – $300 bonus offer

Through January 31, 2025, you can earn a $300 bonus when you sign up for a Bank of America Advantage SafeBalance checking account and complete the following requirements.

1. Open a Bank of America Advantage SafeBalance checking account and use offer code LHR300CIS.
2. Set up $2,000 or more in qualifying direct deposits into your new checking account within 90 days of account opening.

Once the requirements have been completed, Bank of America will deposit the bonus into your account within 60 days. You will not be eligible for this checking account bonus if you already have an Advantage SafeBalance account or have closed an account within the past 12 months.

Advantage SafeBalance Requirements and Account Fees

• To open a Bank of America Advantage SafeBalance personal checking account, you’ll need a minimum opening deposit of at least $25.
• Qualifying direct deposits must come from an employer in the form of your salary or from pension or social security benefits.
• This account has a $4.95 monthly maintenance fee unless you are under 25, maintain a minimum daily balance of $500 or more, or are a member of the Preferred Rewards program.

Bank of American Business Advantage Fundamentals Account – $200 bonus offer

Through December 31, 2024, you can receive a $200 cash bonus when you sign up for a new Bank of America Business Advantage Fundamentals Checking account and complete the following requirements.

1. Sign up for a new Business Advantage Fundamentals account.
2. Deposit $5,000 or more in new money into your new Business Advantage Fundamentals checking account within 30 calendar days of account opening.
3. Maintain a $5,000 account balance until 90 days after account opening.

Once you’ve completed the requirements, your bonus will be paid into your account within 60 days. You will not be eligible for a Bank of America business checking bonus if you already have an account or you’ve had an account open in the past 12 months.

Business Advantage Fundamentals Requirements and Account Fees

• This account has no monthly maintenance fee for the first 12 months. Afterward, it will be $16 unless you maintain a $5,000 combined average balance, spend at least $500 in new net purchases with your business debit card, or are a Preferred Rewards for Business member.

Bank of American Business Advantage Relationship Account – $200 bonus offer

Through December 31, 2024, you can receive a $200 cash bonus when you sign up for a new Bank of America Business Advantage Relationship Checking account and complete the following requirements.

1. Sign up for a new Business Advantage Relationship account.
2. Deposit $5,000 or more in new money into your new Business Advantage Relationship checking account within 30 calendar days of account opening.
3. Maintain a $5,000 account balance until 90 days after account opening.

Once you’ve completed the requirements, your bonus will be paid into your account within 60 days. You will not be eligible for a Bank of America business checking bonus if you already have an account or you’ve had an account open in the past 12 months.

Business Advantage Relationship Requirements and Account Fees

• This account has a $29.95 monthly maintenance fee unless you maintain a $15,000 combined average balance or are a Preferred Rewards for Business member.

Merrill Edge Self-Directed Account – up to $600 bonus offer

For a limited time, you can earn up to a $600 cash bonus when you sign up for a new Merrill Edge self-directing trading account. To earn your bonus, you need to complete the following requirements.

1. Open an eligible Merrill Edge self-directed trading account and use offer code 600ME.
2. Within 45 days of account opening, deposit $20,000 to $49,999.99 and earn $100; deposit $50,000 to $99,999.99 and earn $150; deposit $100,000 to $199,999.99 to earn $250, or deposit $200,000 or more to earn $600.
3. Maintain your balance for at least 90 days.

Once you’ve completed the requirements, your bonus will be deposited into your account within two weeks.

How Do These Bank of America Bonuses Compare?

Bank of America has some great sign-up bonuses, but they won’t be available for everyone. Below are a few other checking account bonuses you can consider instead.

Pros and Cons of Bank of America Promotions

Before signing up for a Bank of America bonus offer, consider these pros and cons.

Pros

• Low minimum deposit is required to receive a bonus
• Bank of America has been know to offer targeted bonuses to some customers

Cons

• Bank of American bonuses are taxable
• Not eligible if you already have an open account or have had one in the past 12 months.
• Monthly maintenance fees may apply

Does Bank of America Offer a Savings Account Bonus?

Currently, there are no Bank of America Savings Account bonuses available. Instead, consider this promotion for a Discover Online Savings account.

How to Apply for a Bank of American Business Checking Account?

If you want to apply for a Bank of America business checking account, you must have the following information available.

• Name and address of your business
• Business documentation (this could include your articles of incorporation or articles of organization)
• The date you established the business
• Business Tax ID number
• Social security number, date of birth, and address of the principal business owner

Frequently Asked Questions

Are Bank of America promotions taxed?

If you receive a Bank of America bonus, it is considered interest income. That means you will receive a 1099-INT at the end of the year.

Is a Bank of America checking account bonus worth it?

Bank of America account bonuses are worth it if you want to open a new personal or business checking account. They have relatively easy requirements and the welcome bonus is usually one of the best available.

Who is eligible for a Bank of America bonus?

You’re eligible for a Bank of America bonus if you don’t already have a checking account or haven’t had an account in the past 12 months. You must also complete all the bonus requirements before the cash bonus is deposited into your account.