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Bank of America Checking Account Bonuses

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Bank of America
Last year there were several Bank of America checking and savings account bonuses. There doesn't seem to be as many this year, but a few have been found. The best online one is a $75 bonus for opening a new checking account. Here's the promotional page. To receive your $75, apply online or go to your branch. Use offer code AOU26, and open a personal checking account before May 31, 2007. Some important small print of this offer includes: Offer does not apply to second or multiple checking accounts and/or existing checking customers. This minimum deposit required to open a new, personal checking account and receive the $75 offer is $100.

If the above bonus expires, you'll have more time for this $50 checking account bonus. Here's the promotional page. Looks like this one must be done all online. The promo code for this is GROUP50. This offer doesn't expire until 12/31/07. According to the small print: Limit one $50 incentive per household every 60 days. Offer valid only for new checking accounts.

For a discussion about Bank of America checking accounts, fees and other issues, please refer to my Bank of America bonus summary post.

Thanks to Christopher who mentioned this new $50 bonus and iBankDesign for the bonus links.

[Update 3/25/07: $75 bonus expiration date extended to May 31, 2007.]

  Tags: checking account, Bank of America

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Comments
18 Comments.
Comment #1 by Anonymous posted on
Anonymous
does anyone have more info on the BOA $75 bonus? do you have to enroll in billpay or be charged a monthly fee? Is it worth the hassle? Do they do a hard pull? Any info is appreciated, thanks!

1
Comment #2 by NoBrainerDeals.Net (anonymous) posted on
NoBrainerDeals.Net
If you do a billpay (just write a check to yourself if you have to) the account is free. So you may have to write three checks depending on how long it takes them to credit the account witht the bonus. If you think $75 is worth writing three checks, then yeah, open it. :)

You can also do direct deposit to get a free account but that seems like more of a hassle if you're going to close it after you get the $75.

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Comment #3 by Anonymous posted on
Anonymous
I opened the account expecting to avoid the monthly fee by doing a bill pay. To verify this, I decided to send two separate customer service messages(to play it safe). Both responses said that the bill pay option expired on 12/31, and that the only way currently to get the bonus while at the same time avoiding the $5.95 monthly fee was thru a regular direct deposit. Obviously, this is important for all to know.

1
Comment #4 by Patrick (anonymous) posted on
Patrick
A tip for people doing a BofA online account opening bonus deal: When you open your account online, choose to fund the initial deposit with a credit or debit card. That way, if you have a rewards/cash-back card, you'll get free cash and/or points just for putting money into the BofA account. The more you put in, the more you get back. I did this with my paypal cashback (1.5%)card and it worked.

On a related note, I've got six VirtualBank referrals left, so if anybody wants an even easier bank bonus, just email me:

trick3LL@yahoo.com

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Comment #5 by Anonymous posted on
Anonymous
DO NOT DO BUSINESS WITH BOA!!! There is a national boycott started by Clark Howard. They have treated there customers like criminals. Check Clark Howards web page for details. Millions of dollars have been withdrawn from them in protest.

1
Comment #6 by drdavidge (anonymous) posted on
drdavidge
According to this FatWallet thread, BOA counts PayPal transfers as direct deposits.

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Comment #7 by Banking Guy (anonymous) posted on
Banking Guy
Clark does have some good points about what BoA did in that case. I had some trouble finding the info at Clark Howard. I finally did find some links:

Clark Howard BoA Meter

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Comment #8 by rramos (anonymous) posted on
rramos
Unfortunately, Clark Howard has blown this out of proportion. As a bank employee, BofA did what any other bank would have done. That's what banks train us to do. BofA is getting a bad rap simply because it is huge.

BofA has exceeded all my expecatations and that is why I have all my money with them in a vsriety of accounts including brokerage.

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Comment #9 by Anonymous posted on
Anonymous
DO NOT DO BUSINESS WITH BOA!!! There is a national boycott started by Clark Howard. They have treated there customers like criminals. Check Clark Howards web page for details. Millions of dollars have been withdrawn from them in protest

1
Comment #10 by Victoria (anonymous) posted on
Victoria
To receive your $75, apply online or go to your nearest banking center. Use offer code AOU26, and open a personal checking account before May 31, 2007.

It looks like the offer was extended (as predicted).

1
Comment #11 by gary (anonymous) posted on
gary
According to their website, BofA MyAccess checking account is now free.

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Comment #12 by Banking Guy (anonymous) posted on
Banking Guy
Are you sure it's for all states? When I go to BofA's MyAccess page, I see it listed as free for Texas and Georgia (see page). But for other states, it's still requiring dd to avoid a fee. It does show a $50 bonus (see page).

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Comment #13 by Anonymous posted on
Anonymous
Anyone know when this $75 offer started? I opened my account in January 26, 2007 and the clerk told me there's no promotion going on. Now I call BoA, they don't give it to me, saying that the promotion is not avail when I open my account. However, they failed to say when the promotion started.

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Comment #14 by Rah (anonymous) posted on
Rah
Please don't do business with Bank of America. I wish I had known about their poor customer service last year. When hearing horror stories of Rude customer service from Co-workers, that tells me I am not alone. Duplicated payments...Stop payment still paid out creating overDraft fee. Mine is a Wachovia Credit Card which used to be handled by MBNA bought out by BOA. NIGHTMARE after Nighmare. If you have a fraudlent transaction, good luck.

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Comment #15 by Anonymous posted on
Anonymous
All I need to know is how long the account needs to remain open.. anybody know? Couldn't find it in the terms & conditions.

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Comment #16 by Anonymous posted on
Anonymous
I filled out the application 2 weeks ago and used my ING Electric Orange debit card to fund the initial deposit. The funds were taken out immediately, but so far, I have not received any notification from BoA that my new checking account is open. Anyone else have this experience?

This obviously begs the question of whether this is ethical practice, since BoA is essentially getting a free loan from me during this time, while I have no access to that money and am losing the 4% interest that the money was earning in my ING account.

1
Comment #17 by Anonymous posted on
Anonymous
The fine print on this deal says it expires on 9/30/07. I'm going to take that to mean it's still valid.

1
Comment #18 by Anonymous posted on
Anonymous
First, I will never fall for this trick from BofA again. I opened one account under Offer Code GROUP50 (March 26) and another a week later Offer Code CH100CTA (April 2). Today I am still fighting, screaming, and kicking to get the $150.00 (4 mths later)! We have banked with them since 1955 and this is the worse customer service outfit I have ever experienced. They should not be allowed to stay in business as I consider this FRAUD. Every time I call and speak to the floor supv its another excuse and delay. Enough is enough I encourage everyone to blacklist them and refuse to do service.

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