Offer is limited to individuals who receive the offer via a direct communication from Bank of America and have not owned or co-owned a Bank of America personal checking account within the last twelve (12) months. Fiduciary accounts (e.g., trusts) and business accounts are not eligible for this offer. Offer cannot be combined with any other checking offer and is limited to one bonus per account and per customer. Offer expires on April 30, 2023. Bank of America may change or discontinue this offer at any time before this date without notice.   

Requirements to Receive the $300 Checking Bonus:

(1)   Enroll in this offer through a Bank of America associate OR by clicking the enrollment button or link in a direct communication from Bank of America.

(2)   Open a new Bank of America Advantage Banking account by April 30, 2023.

(3)   Set up and receive Qualifying Direct Deposits totaling $4,000 or more into that Bank of America Advantage Banking account within ninety (90) days of account opening.

A “Qualifying Direct Deposit” is a direct deposit of regular monthly income – such as your salary, pension or Social Security benefits, which are made by your employer or other payer – using account and routing numbers that you provide to them. Examples of non-qualifying transfers and deposits include the following: teller deposits, wire transfers, debit card transfers, ATM transfers or deposits, Online and Mobile Banking transfers or deposits, or transfers from a bank or brokerage account or Merrill investment account.

After you satisfy all of the requirements, we will attempt to deposit the earned bonus directly into your new Bank of America Advantage Banking account within sixty (60) days. The Bank of America Advantage Banking account must be open and in good standing up to and including the date any earned bonus is paid.

To receive your bonus you must provide all of the information we require in connection with opening the account. This includes information we require to identify each account owner and to report the bonus to the Internal Revenue Service (IRS), including a validly completed IRS Form W-9 or Form W-8 (as applicable). The value of this bonus may constitute taxable income to you. To the extent required by law, Bank of America may withhold tax or other amounts from the payment. Bank of America may issue an IRS Form 1099 (or other appropriate form) to you that reflects the value of such bonus. Please consult your tax advisor, as neither Bank of America, its affiliates, nor their employees provide tax advice.  

Additional Terms and Conditions: All account applications are subject to approval. The minimum deposit required to open a Bank of America Advantage SafeBalance Banking® account is $25. The minimum deposit required to open a Bank of America Advantage Plus Banking® account is $100. The minimum deposit required to open a Bank of America Advantage Relationship Banking® account is $100, and the Annual Percentage Yield (APY) is as follows: less than $50,000, 0.01%; $50,000 and over, 0.02%. APYs are accurate as of 3/8/2023. For today’s rates, select the applicable account at bankofamerica.com/depositsrates. Rates may change at any time without prior notice, before or after the account is opened, and may vary by location. Fees may reduce earnings. Accounts, product terms, and fees may vary by location, and we may discontinue and/or add new account types at any time. Please consult a financial center, visit bankofamerica.com or see the Personal Schedule of Fees (found at bankofamerica.com/fees) for account fees and additional information about accounts.

Reproduction, purchase, sale, transfer or trade of this offer is prohibited.

No paper check writing available with this account setting.

How to qualify as a Student: For Bank of America Advantage SafeBalance Banking, when you notify us an owner of this account is a Student, we will waive the monthly maintenance fee on the account for each statement cycle during which such owner of the account qualifies as a Student. A Student is defined as an account owner who is both enrolled in school or an educational or vocational program and under 25 years old. Please refer to your Personal Schedule of Fees for details. Fiduciary titled accounts, including UTMA / UGMA, do not qualify for the under the age of 18 or the Student waiver.

Balance Connect® for overdraft protection allows you to link your eligible checking account with up to 5 eligible Bank of America accounts for overdraft protection. This optional service can help you cover your payments and purchases, and help avoid overdrafts and overdraft fees by automatically transferring available funds from your linked backup account(s) when needed. If your linked backup account does not have enough available funds to cover the necessary amount, we may decline to make the transfer. Overdraft protection transfers from a linked savings account count towards the six transactions you're allowed each month from your savings account and may lead to a Withdrawal Limit Fee on your linked consumer savings account(s). Please refer to your Personal Schedule of Fees for details. Overdraft protection transfers from a linked Bank of America Home Equity Line of Credit are considered advances and the amount advanced is subject to interest or finance charges as provided in the Line of Credit Agreement. Please refer to your Line of Credit Agreement for additional details. Overdraft protection transfers from a linked credit card will be Bank Cash Advances under your Credit Card Agreement and will accrue interest at the APR stated in your Credit Card Agreement. Please refer to your Credit Card Agreement for additional details.

No fee for incoming domestic wire transfers, stop payments and other services. Please refer to your Personal Schedule of Fees for details.

Preferred Rewards Program Eligibility: You can enroll, and maintain your membership, in the Bank of America Preferred Rewards program if you have an active, eligible personal checking account with Bank of America ® and maintain the balance required for one of the balance tiers. The balance tiers are $20,000 for the Gold tier, $50,000 for the Platinum tier, $100,000 for the Platinum Honors tier, $1,000,000 for the Diamond tier and $10,000,000 for the Diamond Honors tier. Balances include your combined, qualifying Bank of America deposit accounts (such as checking, savings, certificate of deposit) and/or your Merrill investment accounts (such as Cash Management Accounts, 529 Plans). You can satisfy the combined balance requirement for enrollment with either:

1. a three-month combined average daily balance in your qualifying deposit and investment accounts or

2. a current combined balance, provided that you enroll at the time you open your first eligible personal checking account and satisfy the balance requirement at the end of at least one day within 30 days of opening that account.

After enrollment you must maintain the three-month combined average daily balance to stay in the program.

Refer to your Personal Schedule of Fees for details on accounts that qualify towards the combined balance calculation and receive program benefits. Eligibility to enroll is generally available three or more business days after the end of the calendar month in which you satisfy the requirements. Benefits become effective within 30 days of your enrollment, or for new accounts within 30 days of account opening, unless we indicate otherwise. Bank of America Private Bank clients qualify to enroll in the Diamond Tier regardless of balance, and may qualify for the Diamond Honors tier based on their qualifying Bank of America Merrill and Private Bank balances. Certain benefits are also available without enrolling in Preferred Rewards if you satisfy balance and other requirements. For details on Bank of America employee qualification requirements, please call Employee Financial Services or, visit refer to the Bank of America intranet site. Employees of companies participating in the Bank of America Employee Banking and Investing Program may be eligible to participate on customized terms. Refer to CEBI Program for details.

The mobile feature, Erica, is only available in the English language. The feature requires that you download the latest version of the Mobile Banking app and is only available in the Mobile Banking app for select iOS and Android devices. Message and data rates may apply. Your chat may be recorded and monitored for quality assurance.

When you place a lock on your debit or ATM card via Online or Mobile Banking, it will prevent most types of card transactions from being processed until you take action to unlock your card. Any virtual cards linked to the locked card will also be locked. However, the lock will not stop card transactions presented as a new recurring or a previously scheduled recurring transaction by the merchant, transactions using other cards linked to your deposit account, or the posting of refunds or credit adjustments to your account. Additionally, transactions that occurred prior to locking the card will not be affected. Locking your card is not a replacement for reporting your card lost or stolen. This feature is available on the Mobile Banking app for iPad, iPhone and Android devices. Data connection required. Wireless carrier fees may apply.