Bank Of America Personal Checking Review: $300 Promotion

Editor Rating
Rated 3.5 stars
Very Good

^$150

BOA Personal Checking $150 Bonus
Reviewed by: Tony Phan
Published on: June 14, 2016
Last modified: June 16, 2016

Popularity
Editor: 90%
Worthwhile?
Editor: 80%
Availability
Editor: 75%
Features
Editor: 90%

Bank of America has two personal checking account options to choose from, which I’ll review here, along with some current sign-up promotions.

BOA Personal Checking review highlights:

Current promotions
Checking account comparisons

See all my Bank of America reviews
See my Best Bank Promotions List

Bank Of America Personal Checking $300 Bonus

This $300 bonus from Bank of America is for a new Core or Interest checking account and direct deposit is required. You must not already already a personal Checking account with Bank of America to qualify.

This is a targeted offer and the terms state that you must have received this offer via a direct communication from Bank of America, although I’m not sure if they’ll actually verify it.

Bank Of America $300 Personal Checking Bonus

Core or Interest Checking are eligible accounts
$300 bonus expires 12/31/2016
Direct deposit is required for this offer
Offer available nationwide

Opening an account will trigger a Soft credit inquiry, which doesn’t affect your credit score
You can’t fund the opening deposit with a credit card
Core Checking requires a $25 opening deposit and the Interest Checking a $100 opening deposit

Learn More

How To Get Your $300 Bonus

Open a Core or Interest Checking account online, in-branch, or over the phone by the offer expiration date.
Set up qualifying direct deposits totaling $4,000 or more within 90 days from account opening. Bank of America does have some reported alternatives to trigger the Direct Deposit requirement.
*You must not have been a signer or owner of a Bank of America personal Checking account within the last 6 months.
Once you’ve met the requirements, you will get the bonus deposited within 60 days.

A “Qualifying Direct Deposit” is a recurring direct deposit of a paycheck, pension, Social Security or other eligible regular monthly income, electronically deposited by an employer or an outside agency into your new checking account.

Waiving The Monthly Fees

The Core Checking Account has a $12 Monthly Fee that you can waive by doing ONE of the following each month:

Have one direct deposit of at least $250 post to the account, OR
Maintain an average daily balance of $1,500 or more, OR
If you are a Bank of America Preferred Rewards client, you can waive the first 4 Checking and Savings accounts

The Interest Checking Account has a $25 Monthly Fee that you can waive by doing ONE of the following each month:

Maintain combined balances of $10,000 or more. Combined balances can be in the following accounts:
- Eligible linked Checking, Savings and Money Market Savings accounts
- Linked personal CDs and IRAs
- Eligible linked Merrill Edge and Merrill Lynch investment accounts
If you are a Bank of America Preferred Rewards client, you can waive the first 4 Checking and Savings accounts

Account Features

Bank of America Core Checking	Bank of America Interest Checking
Online and Mobile Banking Debit chip card Thousands of ATMs & financial centers	Online and Mobile Banking Debit chip card Thousands of ATMs & financial centers Earn interest No fees for cashier’s checks, money orders or Overdraft Protection transfers from eligible linked accounts No fees for standard checks and incoming domestic wires No monthly maintenance fees for additional accounts

Author’s Verdict

I’d go with the Core Checking account as it comes with most of the features you’d likely need, and especially if you’re only opening for the $300 bonus. To me the easiest way to waive the monthly fee would be to keep at least $1,500 in the account. A $300 promotion for a personal Checking account from Bank of America doesn’t come around too often, so take advantage of it while it lasts!

Bank Of America $100 Bonus

Coupon Link: $100 Promotion(scroll down to find it)
Expiration: 12/31/2016
Bonus Amount: $100
Account(s) Eligible: Core Checking^® & Interest Checking^®
Availability: Nationwide, but you must be an active employee or current retiree of an enrolled Bank of America at Work® employer. You can enter your company’s name when you click on the coupon link to search.
Hard/Soft Inquiry: Soft
Opening Deposit Credit Card Funding Eligibility: No, but $250 with a debit card works
Direct Deposit Requirement: Direct Deposits totaling $2,000 every 30 days from account opening date for 90 days.
Monthly Service Fee: $12(Core Checking^®) or $25(Interest Checking^®) *Can be waived(see bottom section).
Other Requirements: Be sure to enter offer code BAW100N. Minimum open deposit for Core Checking is $25 and Interest Checking is $100.
*Tips: Must not currently have a personal checking account with BOA, or one closed within the last 6 months.
Competitor Bonus:
Related Bonus: BOA Business Checking Promotions

Bank of America $150 Bonus

Bank of America $150 Promotion — BOA $150 Promotion

Here’s a $150 bonus offer for new Checking account customers.

Promotion Link: $150 BOA Promotion
Expiration: 04/15/2016
Bonus Amount: $150
Related Bonus: BOA Business, BOA Savings
Competitor Bonus:
Account(s) Eligible: Core Checking, Interest Checking
Availability: Nationwide
Hard/Soft Inquiry: Soft
Opening Deposit Credit Card Funding Eligibility: Not eligible
Direct Deposit Requirement: Yes, see requirements.
Monthly Service Fee: $12(Core Checking®) or $25(Interest Checking®) *Can be waived(see bottom section)
Other Requirements:
- Initial $100 Bonus:
  - Open a Bank of America Core Checking or Bank of America Interest Checking account by April 15, 2016.
  - Set up and receive 2 qualifying direct deposits of $250 or more each within 90 days of opening your checking account.
- Additional $50 Bonus:
  - Direct deposit your federal tax refund of at least $500 into any Bank of America checking or savings account by June 1, 2016.
*Tips:
- You are not eligible for this offer if you were a signer on or owner of a Bank of America personal checking account within the last 6 months.
- A “Qualifying Direct Deposit” is a recurring direct deposit of a paycheck, pension, Social Security or other eligible regular monthly income, electronically deposited by an employer or an outside agency into your new checking account.
- A transfer from a brokerage account or Merrill Edge or Merrill Lynch account is not a Qualifying Direct Deposit.

Bank Of America $500 Promotion

This $500 bonus was sent to BOA customers, such as credit card customers, who don’t have a BOA checking/savings account.

Coupon Link: *Currently unavailable
Expiration: Expired
Bonus Amount: $500
Account(s) Eligible: (Interest Checking or Core Checking) + Savings combined
Availability: Nationwide
Hard/Soft Inquiry: Soft
Opening Deposit Credit Card Funding Eligibility: No, but $250 with a debit card works
Direct Deposit Requirement: Two Direct Deposits totaling $2,000 within 90 days of opening.
Monthly Service Fee: $12(Core Checking^®) or $25(Interest Checking^®) *Can be waived(see bottom section)
Other Requirements: The savings account is the Rewards Money Market Savings and you must deposit at least $20K in new balances within 60 days of opening the new checking account and keep that balance for 30 consecutive days.

Bank Of America $300 Promotion

This is a targeted offer where current Bank of America customers reportedly received communication about it, but you’ll be eligible as long as you currently hold a BOA credit card.

Coupon Link: *Currently unavailable
Expiration: Expired
Bonus Amount: $300
Account(s) Eligible: Interest Checking or Core Checking
Availability: Nationwide
Hard/Soft Inquiry: Soft
Opening Deposit Credit Card Funding Eligibility: No, but $250 with a debit card works
Direct Deposit Requirement: Two Direct Deposits totaling $2,000 within 90 days of opening.
Monthly Service Fee: $12(Core Checking^®) or $25(Interest Checking^®) *Can be waived(see bottom section)
Other Requirements: Must not currently have a BOA checking account or one closed in the past 6 months.

BOA Core Checking Vs. Interest Checking Features:

Core Checking Features

Low opening deposit: $25
Nearly 5,000 branches you can visit
Online, Mobile, and Text banking: Online Bill Pay, payment reminders, customizable alerts.
Debit card is chip-enabled
Sign up for the optional Keep the Change Savings Program where every debit card purchase is rounded up and that difference is transferred to your savings account to promote saving.
Compare to: Chase Total Checking
Pair it with: BOA Savings Account

Waive $12 Core Checking® fee meeting ONE requirement each statement cycle:

Have at least one qualifying direct deposit of $250 or more, OR
Maintain an average daily balance of $1,500 or more, OR
When you are a Bank of America Preferred Rewards client (waiver applies to first 4 checking and savings accounts)
Students under age 23 are eligible for a waiver of the monthly maintenance fee while enrolled in a high school or in a college, university, or vocational program.

Interest Checking Features

Same features as the Core Checking, with these additions:

Higher opening deposit: $100
Eligible for 3 additional Interest Checking accounts and 4 savings accounts with no monthly fee
Earns interest on your balance (see rates)
Fee-free cashier’s checks/money orders
No fee for overdraft protection transfers from a linked deposit account.
Compare to: Chase Premier Plus Checking
Pair it with: BOA Savings Account

Waive $25 Interest Checking® fee meeting ONE requirement each statement cycle:

Maintain combined balances of $10,000 or more. Combined balances include:
- Average daily balances for the statement cycle in eligible linked checking, savings and money market savings accounts, AND
- The current balances, as of the end of the checking statement cycle in linked personal CDs and IRAs, AND
- The current balance, as of two business days before the end of the checking statement cycle, in your eligible linked Merrill Edge and Merrill Lynch investment accounts.
When you are a Bank of America Preferred Rewards client (waiver applies to first 4 checking and savings accounts)

Keep checking back here for updated cash promotions and other offers for these personal checking accounts.