Bank of America is offering a tiered $100–$500 cash bonus when you open a new eligible checking account and complete qualifying direct deposits.

This is a solid offer — especially for those who can route payroll or regular income through the account. Even better: Bank of America typically pays these bonuses pretty quickly.

Here’s everything you need to know.

Who’s Eligible

You must:

• Open a new eligible checking account through the official offer page by May 31, 2026

• Not have owned or co-owned a Bank of America personal checking account within the last 12 months

Eligible Accounts

Only the following accounts qualify:

• SafeBalance Banking

• Advantage Plus Banking

• Advantage Relationship Banking

❌ SafeBalance Banking for Family Banking accounts are not eligible.

Bonus Tiers (Based on Direct Deposits in First 90 Days)

Set up qualifying direct deposits within 90 days of account opening. Your bonus depends on how much hits the account during that period:

• $100 bonus – $2,000 in total direct deposits

• $300 bonus – $5,000 in total direct deposits

• $500 bonus – $10,000+ in total direct deposits

Once you meet all requirements, Bank of America will attempt to deposit your bonus within 60 days after the 90-day qualification period.

In practice, this one usually pays much faster.

Monthly Fees (And How to Waive Them)

Each account has a monthly fee, but all are avoidable.

Advantage Plus Banking

$12/month — waived if you meet any ONE of the following:

• At least one qualifying direct deposit of $250+

• Maintain a $1,500 minimum daily balance

• Account owner is enrolled in Preferred Rewards

Advantage Relationship Banking

$25/month — waived if:

• Maintain a $20,000 minimum daily balance

OR

• Account owner is enrolled in Preferred Rewards

SafeBalance Banking

$4.95/month — waived if:

• Account owner is under age 25

• Maintain a $500 minimum daily balance

• Account owner is enrolled in Preferred Rewards

Early Account Termination Fee

Good news — there is NO early account closure fee.

Just note: you’ll need to call Bank of America to close the account when you’re ready.

Final Thoughts

This is a straightforward checking bonus with flexible tiers:

• Low barrier entry at $2,000 for $100

• Scales nicely to $500 if you can route $10k+ in deposits

• No early closure penalty

Link to the offer: Bank Of America