Open a new Bank of America business checking account and earn a $500 cash bonus1

Access powerful digital tools, Small Business Specialists and security all in one place. Plus earn a $500 cash bonus when you make Qualifying Deposits in your new business checking account.

A business checking account gives you the tools you need to move your business forward

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Powerful digital tools

 

Manage your business efficiently with customizable digital tools like Cash Flow Monitor2, Mobile Check Deposit3 and access to Zelle®4. All your business transactions in one place.

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Small Business Specialists

 

Our Small Business team is ready to help with the unique challenges small business owners face.

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Secure banking

 

We're committed to keeping your banking information secure so you can bank with confidence.

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Preferred Rewards for Business

 

Eligible members can earn a wide range of valuable rewards, benefits and savings with no fee to enroll in the program5.

Make qualifying deposit to earn cash bonus

Earn a cash bonus in three steps:

  1. Open a new business checking account by July 31, 2022
  2. Make Qualifying Deposits* of $20,000 or more in new money within 30 days of opening the new business checking account
  3. Maintain an average balance of $20,000 for next 60 days (day 31-90) during the maintenance period**
*Qualifying Deposits are deposits of new money, which is money not currently or previously held in any account at Bank of America or Merrill.
**The maintenance period begins thirty-one (31) days after account opening and ends ninety (90) calendar days after account opening.

Start by choosing the right checking account for your business:

Business Fundamentals
Advantage Relationship

Business Advantage Fundamentals™ Banking

Essential digital tools to help you manage your business with a low monthly fee

Options and features of both accounts include

  • Access to Business Advantage 360 online and mobile tools6 including: Cash Flow Monitor2, Mobile Check Deposit3, Remote Deposit Online7 and access to Zelle®4
  • Access to Small Business Specialists who work with you to find solutions that fit your goals
  • Business debit cards with $0 Liability Guarantee and fraud monitoring8

Monthly fee information

$16 or $0 monthly fee*

*Learn how to avoid fee9

Second Business Advantage Banking account

+$16/month

Business Advantage Savings account

+$10/month

Incoming wire transfer fee

Fees vary

Account Management11

+$15/month after first three months

Business Advantage Relationship Banking

Comprehensive financial solutions to help manage your business

Options and features of both accounts include

  • Access to Business Advantage 360 online and mobile tools6 including: Cash Flow Monitor2, Mobile Check Deposit3, Remote Deposit Online7 and access to Zelle®4
  • Access to Small Business Specialists who work with you to find solutions that fit your goals
  • Business debit cards with $0 Liability Guarantee and fraud monitoring8

Monthly fee information

$29.95 or $0 monthly fee*

*Learn how to avoid fee10

Second Business Advantage Banking account

No monthly fee

Business Advantage Savings account 

No monthly fee

Incoming wire transfer fee

No fee

Account Management11

No fee

About applying online

The information you’ll need to apply

  • Business formation date (month/year)
  • Country and state of legal formation and primary business operation (U.S. only)
  • Personal information (i.e. SSN and DOB) for everyone on the application, including those with at least 25% ownership
  • Legal business name and DBA ("doing business as") name, if applicable
  • Business Tax ID (TIN) or Employer Identification Number (EIN) provided by the IRS - sole proprietorships may use SSN

What to expect after applying

  1. When your application is complete, you will receive a confirmation email within a couple of hours.
  2. Application decisions are often immediate. (We’ll let you know if any additional information is required).
  3. You can fund your account while applying by using a debit card, transferring money from another account or writing a check.
  4. Once your account is open, you may access Online Banking and you will receive your checks and debit card(s) in approximately 7 to 10 business days.




Enroll Early in Preferred Rewards for Business

There is no fee to join or participate in the program. As a member, you can earn valuable benefits and rewards on many Bank of America Small Business products and services; such as no fees on select banking services and 25% to 75% bonus rewards on eligible business credit cards.

Early enrollment is available if this is your first checking account with us and you have $20,000 or more in combined balances within 30 days of opening your account. If this is not your first checking account with us you may still be able to qualify under the standard program terms.