Find an updated list of Bank of America promotions, bonuses, and offers here.
Bank of America Advantage SafeBalance Banking and Bank of America Advantage Plus Banking are great options for students in search of a low-cost checking account. Students under the age of 24 have no fees.
See our bank offers page for other offers. Top offers can be found from TD Bank, Chase Bank, Bank of America, BBVA, HSBC Bank, and many more.
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About Bank of America Promotions
Headquartered in Charlotte, North Carolina, Bank of America has grown to become one of the “big four” banks in the United States since its establishment in 1904. With operations in more than 35 countries around the world, Bank of America offers a vast array of products such as CDs, Savings, Checking, much more through a wide network of branches. However, you may want to compare to the national best offers from our Bank Rates page and CD Rates page.
- Availability: Nationwide (Bank Locator)
- Routing Number: Full list here
- Customer Service: 1 (800) 432-1000
While they have a generous bonus, Bank of America doesn’t have great rates for CDs and Savings. You may want to check out our full list of Bank Rates and CD Rates.
I’ll review the Bank of America Promotions below.
Bank Of America Personal Checking $100 Bonus Offer (Available Online)
Bank of America is offering a $100 bonus when you open a Checking Account online and meet the requirements below.
- Account Type: Checking Account
- Availability: Online only
- Direct Deposit Requirement: Yes
- Soft/Hard Pull: Soft Pull
- ChexSystems: Unknown, let us know.
- Credit Card Funding: None
- Monthly Fee: $4.95+, waivable
- Early Account Termination Fee: $40 if closed within 180 days of account opening
- Household Limit: 1
(Expires June 30, 2021)
| You can compare this to several great entry level Checking accounts with bonus offers include the Citi Priority Account (Up to $2000 Cash Bonus), Fifth Third Momentum® Checking ($250 bonus), Chase Total Checking® ($200 bonus), and SoFi Checking and Savings ($325 bonus). |
Bank of America Advantage SafeBalance & Advantage Plus Features
Bank of America Advantage Banking is a checking account that has three different settings. Members are able to switch from one setting to another as their lifestyle and financial needs change. Advantage SafeBalance Banking and Advantage Plus Banking are ideal for eligible students since the monthly fee is waived for those under the age of 24.
Advantage SafeBalance Banking
The Advantage SafeBalance Banking $4.95 monthly fee is waived for eligible students under the age of 24, or if you’re a Preferred Rewards member.
This Advantage setting is a great option if you’re in search of a low-cost checking account and extra benefits. There is no overdraft option – therefore, no overdraft fees – and the account is checkless.
To open an Advantage SafeBalance Banking account, all you need is an initial deposit of at least $25, a Social Security Number and a permanent US address.
Advantage Plus Banking
The Advantage Plus Banking $12 monthly fee is waived for eligible students under the age of 24, you have at least one qualifying deposit of $250 or more, you maintain a $1,500 minimum daily balance, or you’re a Preferred Rewards member.
This Advantage setting allows you to purchase paper checks and set up overdraft protection. It’s important to note that Bank of America charges $35 every time you overdraft.
To open an Advantage Plus Banking account, you’ll need an initial deposit of at least $100, along with a Social Security Number and a permanent US address.
Bottom Line
Lastly, I would definitely take the time and check out Bank of America Advantage SafeBalance Banking and Advantage Plus Banking if you’re a student that’s currently enrolled in school, under the age of 24. The Advantage SafeBalance setting does not offer overdraft protection of checks, while the Advantage Plus setting gives you the option for both.
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