Receive $50 when you open a new checking account with Bank of America

July 5, 2012 11 Comments »
Receive $50 when you open a new checking account with Bank of America

Bank of America sure flipped the switch on their overall outlook to checking accounts. After a short-lived but frenzy-stirring threat to impose monthly checking account fees, Bank of America has not only rescinded that notion but is now offering $50 bonuses to NEW checking account holders.

It is a fairly decent offer when stacked up against some of the other top checking account bonuses this year simply because you’re only required to make an initial deposit of $25 to earn the $50 bonus.

Bank of America has three different checking accounts available that come with the $50 bonus. All of which have the potential of fees if you don’t meet the requirements. Below are the three different accounts as well as their fee structure.

Bank of America Checking Account Options 2012:

(All of the three options come with the $50 bonus. See below for bonus code, terms and conditions.)

1)  “ebanking” - No monthly service charge when you choose online paperless statements and make your deposits and withdrawals online or by ATM, without a teller.

2) “My Access Checking” - No monthly service charge when you set up at least one qualifying direct deposit of $250 or more each month, for example with payroll or Social Security payments, or maintain an average daily balance of $1,500 or more in your account. Otherwise the charge is $12 per month.

3) Prima with Tiered Interest Checking - Maintain a $10,000 average daily balance, otherwise $25 monthly service charge.

The first two accounts are excellent options for new checking account holders who are looking for something simple with an easy way to avoid fees. I can’t imagine BofA is having success with the third option though as interest rates may as well be zero. The average daily balance is extremely steep for the threat of a relatively large fee of $25.00.

$50 Bonus for New Checking Account Holders:

1) Fill out our easy online application using Offer Code GROUP50.
2) Set up a qualifying Direct Deposit into your new checking account within 60 days of account opening. Learn how to set up Direct Deposit.
3) Receive your $50 bonus, directly deposited to your new checking account, within 120 days once qualifications are met.

Offer Available through 7/31/2012.

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  • Sarah

    thanks for the tip! I opened an account with them today….VERY EASY to do!

  • Chad

    yea this deal is a peach. it used to be $75 bucks too. i did it 6 mo’s ago.

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  • http://www.bloggingbanks.com BloggingBanks

    Last year I got a $100 bank bonus from BofA. Btw I was going to write about this deal as well, but you got it first :-)

    I added you to my blogroll, I like your site.

  • admin

    Thanks for the ad!

  • Aleksey

    Here is a promo from CHASE. When you open a CHASE Free Checking account and set up Direct Deposit, you will receive a $125 deposit from CHASE into your account.

    I used this promo in June and Chase is still doing this.

    You can open this account on-line. To get the deal use the following Coupon Code: 3302697030420017

    If, instead you prefer to open an account at your local branch, you will need to present the coupon to a banker at your local Chase branch. While I could mail your the coupon, I think less of a hassle is to go with an on-line application. On the side note – I got this coupon/promotion from the USPS change of address package at the post office located in Upstate New York (they typically have a bunch offers there for those on the move, like cell telephone companies, retailers like HomeDepot, and more recently – banking services).

    Additional info:

    1. Offer valid through 01/31/2009.
    2. To qualify for the offer you must open a new Chase Free Checking (no monthly service fee; on-line access) with a $100 minimum opening deposit of new money (money not currently held by Chase or its affiliates).
    3. The $125 bonus is not available to customers with an existing Chase checking account.
    4. Within 60 calendar days of account opening, you must initiate a monthly direct deposit such as payroll, pension or Social Security, or other gov benefits (or other kinds of direct deposits, such as disbursement coming from amazon.com, ebay, craig list, etc. seller accounts).
    5. The $125 bonus will be deposited intoyour new account within six weeks after the initial direct deposit has posted to your account.

    Good luck!

  • Aleksey

    Check out Rewards Checking Account – 4.75 APY interest from Tioga State Bank.

    They have a bunch rules to get this special interest rate (not impossible though…). For more details go to:

    http://www.tiogabank.com/86160.html#choose

  • Sammuel

    Hey Aleksey,

    Do you have a link for the Chase Deal?

  • Aleksey

    Sammuel,

    Here is CHASE policy on special offers – I am copying this from https://www.chase.com/psmhelp/index.jsp?pg_name=ccpmapp/shared/help/page/Coupon_Offer

    If an offer you’ve received online or in the mail includes a coupon, you can redeem it at your local branch. And now most products are even available online. Here’s how you can redeem:

    To redeem at a branch, remember to take the mailing or a print out of the offer with you. Please do not cut out the coupon. You’ll need the entire offer.

    To redeem online, look for the green button next to each product offering on chase.com/checking. If available, click the button and enter the 16-digit coupon code printed on the offer in the Account Options section. See below for an image of this section in the online application.

    I can also mail you the actual coupon if you wish…

    Let me know!

    Best…Aleksey

  • Sammuel

    Thanks Aleksey!

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