Theresa Stevens is a personal finance writer based in Boston, MA. As a former financial advisor, she has first-hand experience helping people solve their money challenges. When she's not writing, you'll find her trying out a new karaoke spot or plann.
Theresa Stevens ContributorTheresa Stevens is a personal finance writer based in Boston, MA. As a former financial advisor, she has first-hand experience helping people solve their money challenges. When she's not writing, you'll find her trying out a new karaoke spot or plann.
Written By Theresa Stevens ContributorTheresa Stevens is a personal finance writer based in Boston, MA. As a former financial advisor, she has first-hand experience helping people solve their money challenges. When she's not writing, you'll find her trying out a new karaoke spot or plann.
Theresa Stevens ContributorTheresa Stevens is a personal finance writer based in Boston, MA. As a former financial advisor, she has first-hand experience helping people solve their money challenges. When she's not writing, you'll find her trying out a new karaoke spot or plann.
Contributor Brooke Enloe Banking EditorBrooke Enloe is a banking editor. She is an editor and writer, passionate about producing enlightening content for readers. Her articles are about recent banking news, specifically bonuses and new products. Brooke has written copy for various website.
Brooke Enloe Banking EditorBrooke Enloe is a banking editor. She is an editor and writer, passionate about producing enlightening content for readers. Her articles are about recent banking news, specifically bonuses and new products. Brooke has written copy for various website.
Brooke Enloe Banking EditorBrooke Enloe is a banking editor. She is an editor and writer, passionate about producing enlightening content for readers. Her articles are about recent banking news, specifically bonuses and new products. Brooke has written copy for various website.
Brooke Enloe Banking EditorBrooke Enloe is a banking editor. She is an editor and writer, passionate about producing enlightening content for readers. Her articles are about recent banking news, specifically bonuses and new products. Brooke has written copy for various website.
Updated: Jul 1, 2024, 11:34am
Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors' opinions or evaluations.
Getty
Bank of America wants to welcome you as a new customer—with a hundred dollars cash when you open a personal checking account, and even more when you open a credit card.
As the second-largest U.S. bank in terms of assets, Bank of America has a national presence in keeping with its name: It operates approximately 3,900 retail financial centers and 15,000 ATMs across the United States and 35 countries. BofA serves around 68 million U.S. customers, including those who hold a substantial amount of assets with the bank and qualify for its Preferred Rewards program, offering additional perks, reduced fees and rewards multipliers.
Bank of America is eager for new customers, too, and uses attractive sign-up bonuses to bring them in.
Here are the current Bank of America new-account promotions for individual and business checking customers. Offer details are accurate as of July 1, 2024.
Bank of America offers a suite of checking account products for consumers, under its Advantage Banking brand.
Open any of these accounts, and you could earn the bonus below.
Bank of America® Unlimited Cash Rewards credit card: $200 Cash Bonus
Bank of America® Customized Cash Rewards credit card: $200 Cash Bonus
Bank of America® Travel Rewards credit card: 25,000 points
It’s relatively easy to qualify for a Bank of America promotion as a new consumer or business checking customer. Here’s what you need to do:
Bank of America’s welcome bonuses for new personal checking accounts are competitive, on par with bonuses frequently offered by other large national banks. But they’re not as generous as some of the best bank bonuses out there.
Bank of America requires that you keep your account open until the date your bonus is paid. Customers usually receive their cash within 60 days after meeting the qualification requirements.
Your bank account bonus may be considered taxable income. If required by law, Bank of America may withhold taxes or other amounts from your bonus payment. The bank says it may also issue you an IRS Form 1099 that reflects the value of your welcome bonus.
Bank of America welcome bonuses are for new checking account customers.
You qualify as a new personal checking customer if you have not owned or co-owned a Bank of America consumer checking account within the last 12 months. You can receive only one welcome bonus as a new personal checking customer.
If you’re looking for a new bank account, Bank of America checking promotions are worth considering. You can earn a decent amount of cash as a welcome bonus, though be aware that competing banks may have more generous welcome offers.
You can also explore Bank of America credit card promotions for a chance to earn introductory miles, points or cash-back bonuses.
Bank of America promotions are for new customers only. To qualify, you can’t have had a Bank of America personal or business checking account in your name in the last 12 months.
Bank of America checking account promotions are competitive, though it’s possible to find better offers elsewhere. But keep in mind that a bigger welcome bonus may have additional requirements to qualify. For example, you may need to make an initial deposit of several thousand dollars or meet minimum balance requirements every month to earn the bonus.
The best place to look for Bank of America promotion codes is BofA’s website. If you’re not able to find any promo codes listed there, try searching online. You can search for “Bank of America checking account promotions” to see what’s available. With some promotions, you may only receive a code if Bank of America sends it to you directly, through a targeted advertising campaign.
Yes, Bank of America promotions may be considered taxable income. If required by law, the bank will issue an IRS Form 1099 that reflects the value of your reward.
Was this article helpful? Share your feedback Send feedback to the editorial team Thank You for your feedback! Something went wrong. Please try again later.
By Rebecca Lake
By Kevin Payne
By Amanda Claypool
Information provided on Forbes Advisor is for educational purposes only. Your financial situation is unique and the products and services we review may not be right for your circumstances. We do not offer financial advice, advisory or brokerage services, nor do we recommend or advise individuals or to buy or sell particular stocks or securities. Performance information may have changed since the time of publication. Past performance is not indicative of future results.
Forbes Advisor adheres to strict editorial integrity standards. To the best of our knowledge, all content is accurate as of the date posted, though offers contained herein may no longer be available. The opinions expressed are the author’s alone and have not been provided, approved, or otherwise endorsed by our partners.
ContributorTheresa Stevens is a personal finance writer based in Boston, MA. As a former financial advisor, she has first-hand experience helping people solve their money challenges. When she's not writing, you'll find her trying out a new karaoke spot or planning her next trip abroad.
© 2024 Forbes Media LLC. All Rights Reserved.
Are you sure you want to rest your choices?The Forbes Advisor editorial team is independent and objective. To help support our reporting work, and to continue our ability to provide this content for free to our readers, we receive compensation from the companies that advertise on the Forbes Advisor site. This compensation comes from two main sources. First, we provide paid placements to advertisers to present their offers. The compensation we receive for those placements affects how and where advertisers’ offers appear on the site. This site does not include all companies or products available within the market. Second, we also include links to advertisers’ offers in some of our articles; these “affiliate links” may generate income for our site when you click on them. The compensation we receive from advertisers does not influence the recommendations or advice our editorial team provides in our articles or otherwise impact any of the editorial content on Forbes Advisor. While we work hard to provide accurate and up to date information that we think you will find relevant, Forbes Advisor does not and cannot guarantee that any information provided is complete and makes no representations or warranties in connection thereto, nor to the accuracy or applicability thereof. Here is a list of our partners who offer products that we have affiliate links for.
