For eligible residents nationwide, Bank of America is currently offering up to a $500 bonus when you make qualifying new money deposits in an eligible savings account through May 1, 2019.
To earn $300 of the bonus, you must first open a new Bank of America Advantage Banking account using your unique offer code. Within the first 90 days of account opening, set up and receive qualifying direct deposits totaling $4,000 or more. To earn the rest of the bonus, open a new Bank of America Rewards savings account. Within 30 days of opening deposit $20,000 or more in new money and maintain that for 90 days.
With these saving accounts, you can enjoy features such as overdraft protection, automatic transfers, and preferred rewards clients receive an interest rate booster with a higher APY. If you are interested and qualify, make sure to take advantage of this offer and sign up today! Be sure to also check out other banks such as HSBC Bank, Chase Bank, Huntington Bank, Discover Bank, TD Bank, BBVA Compass Bank or CIT Bank for more promotions. For all the latest Bank of America Promotions, make sure to check out our HMB masterlist!
Credit goes to Abhilash for letting us know about this bank promotion! If you’d like to participate in our Rewards Program, simply contact us when you find a new bank promotion and get paid up to $15!
Editor’s Note: Note that this offer is only available to select Bank of America customers who receive this offer via a direct communication from Bank of America. Fiduciary accounts (e.g., trust accounts) are excluded.
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Bank of America $500 Bonus Info
- Direct Link to Offer
- Bank of America Promotion PDF Printout
- Account Type: America Advantage Banking account and America Rewards savings account
- Availability: Nationwide (Bank Locator)
- Expiration Date: 05/01/2019
- Direct Deposit Requirement: Yes
- Credit Inquiry: Soft Pull
- ChexSystems: Yes
- Opening Deposit: None
- Credit Card Funding: None, but you can fund with a debit card up to $250.
- Monthly Fee: $8 – 12, see below on how to avoid
- Additional Requirements: See below
- Household Limit: None
- Closing Account Fee: Not listed.
What Triggers Direct Deposit? Alternative Methods
Many bank bonuses require you to make real direct deposit from your job to receive the sign up bonus. However, switching to your real paycheck can be frustrating and time consuming. You can find alternative methods below which many readers have reported to trigger direct deposit to receive the sign up bonus. Simply set up ACH transfers from these institutions to trigger direct deposit. Again, Your Mileage May Vary(YMMV). Please help us with your experience if you find a different method or to confirm a current method for direct deposit in the comments section below.
- Amex Serve
- Bank of America
- BECU, Citibank
- Dwolla
- E-Trade
- Fidelity
- HSBC
- Huntington
- KeyBank
- PenFed Trial Deposits
- PNC, Robinhood
- Santander
- Schwab
- USAA
How To Earn Bank of America $500 Bonus
- Enroll in the offer by May 1, 2019. Enroll in the offer by speaking to a Bank of America associate at a participating financial center or by clicking the enrollment link in a direct email communication.
- To earn $300 of the bonus:
- Open a new Bank of America Advantage Banking account using your unique offer code.
- Within the first 90 days of account opening set up and receive qualifying direct deposits totaling $4,000 or more.
- To earn $200 of the bonus:
- Open a new Bank of America Rewards savings account.
- Within 30 days of opening deposit $20,000 or more in new money and maintain that for 90 days.
How to Avoid Monthly Fees
- America Advantage Banking: $12 monthly fee, waive the fee by doing any of the following requirements:
- Maintain a minimum daily balance of $1,500 or more
- Are a student under 24
- Are a preferred rewards client
- America Rewards savings: $8 monthly fee, waive the fee by doing any of the following requirements:
- Maintain a minimum daily balance of at least $500
- Link your Rewards Savings account to your Bank of America Advantage Relationship Banking account (waiver applies to first 4 savings accounts)
- When you are a Bank of America Preferred Rewards client (waiver applies to first 4 checking and savings accounts)
Bottom Line
For those who received this Bank of America targeted offer, take advantage of this promotion and learn more about the $500 bonus. Don’t forget, the $500 bonus will be reported on IRS Form 1099-INT.
For those who are not eligible and did not receive this offer from Bank of America, you can check out our full list of Bank Promotions for all your banking needs.
 The United ClubSM Infinite Card offers 80,000 bonus miles +1,000 Premier qualifying points after you spend $5,000 on purchases in the first 3 months your account is open. You'll earn: • 4X miles per $1 spent on United purchases including tickets, Economy Plus, inflight food, beverages and Wi-Fi, and other United charges. • 2X miles per $1 spent on all other travel • 2X miles per $1 spent on dining including eligible delivery services • 1X mile per $1 spent on all other purchases This card does carry an annual fee of $525. However, you can get up to $100 Global Entry, TSA PreCheck or NEXUS fee credit. In addition, you'll get a savings of up to $320 per roundtrip (terms apply) by getting your first and second checked bags for free! |
