Featured Savings Rates

Popular Posts

Featured Accounts
Offers & Promotions
Bank of America

Update on Bank of America's $75 Checking Account Bonus


Update 6/27/08: Bank of America has again extended the promo. The new expiration date is 9/30/08, and the new promo code is AOU260608. Unfortunately, they're getting more stingy. The new bonus is now only $50.

Bank of America has again extended its $75 checking account promotion (it used to be a $100 bonus). The promo code is AOU260508. The new expiration date is 7/31/08. It's available through the online application or in any BofA branch. I noticed in the online application that you can select the MyAccess Checking, and there's a note that it's a special online only offer in which it'll be free with no direct deposit requirement and no minimum balance required.

Some important details from the offer's small print include: The minimum deposit required to open a new, personal checking account and receive the $75 offer is $100. Offer does not apply to second or multiple checking accounts and/or existing checking customers. Money will be deposited within 90 days of opening your new account. Limit one check per household. Value of the offer will be reported to the IRS on Form 1099.

Hard Credit Pull

There are some things to note regarding BofA. First, many have reported that BofA does a hard credit inquiry on your first checking account. This can ding your credit score a little for a few months.

Receiving the Bonus

It can take patience and persistence to receive the bonuses. The bonuses that I've received only came after reminding them using their online message system. Others have had to make many calls to a banking rep. Not everyone has been successful; however, several readers have reported success with this promo in my October post.


Make sure you keep an eye on your statements to make sure no fees start popping up. You might want to make a copy of the application where it states that the MyAccess Checking will be free. BofA also charges for things that you might expect are free. For example, if you make an outgoing ACH transfer, there's a $3 charge (see BofA page).

Customer Service

There have been many reports of bad customer service at BofA. Here's an interesting one that was recently posted at the Consumerist.

One other note about Bank of America checking is that if you want online access, make sure you sign up for a debit card. You'll need that to gain online access.

For more discussion on Bank of America accounts and promotions, please see my Bank of America promotion post. It's a little out-of-date, but it still has some links to ongoing promotions like BofA's Keep The Change program.

Related Pages: checking account, Bank of America

Related Posts

Anonymous   |     |   Comment #1
Regarding the hard pull, be aware that BOA may pull your credit not once but twice, one day after another. They did that to me when I opened a free online MyAccess checking account with the $100 bonus (USPS Movers deal) back in the beginning of the year.
Anonymous   |     |   Comment #2
I opened this account May 19, but I have no access to it (now May 23)... The money is in the account, but I cannot get to it. I only know the last 4 digits of the account number (from the confirmation e-mail), so I cannot get online with it and I have yet to receive my check card or anything else in the mail. Is this normal? How long will it take for me to get something hard that shows I have an account and that I can access it? There are no records at my BoA branch.

How long does the account have to stay opened? I definitely prefer to close this thing out as soon as I get the $75 bonus. I have no use for the extra checking and did this just for the $75.

Thank you
Anonymous   |     |   Comment #3
You need to keep the account open for 180 days.
cjdtech (anonymous)   |     |   Comment #4
Looks like they're becoming more stingy with their bonuses. AOU260608 expires 9/30/08 and is just $50.