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Bank of America

Bank of America's $50 Checking Account Bonus


Bank of America has long offered this USPS movers checking account bonus. Last year the bonus had been $100. Unfortunately, the bonus amount has fallen, and it's now $50. But if you're looking to open a Bank of America checking account, it's better than nothing.

The promo code is AOU261208. The new expiration date is 2/27/09. 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 bonus 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. A reader noted in a previous BofA post that he received two pulls when he did this promo in early 2008. A hard credit inquiry 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 2007 post. A reader noted that the account must remain open 180 days.


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.

Other Bank Bonuses

Some other recent bonuses of note:
  • ING Direct $50 bonus for its Electric Orange Checking (bonus review)
  • WTDirect $50 to $250 bonus for its savings account (bonus review)
  • ETRADE $25 bonus for its Complete Savings (bonus review)
  • Citibank $25 bonus for its Ultimate Savings (bonus review)
Refer to my bank bonus page for all of the recent bank bonuses.

Related Pages: checking account, Bank of America

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Anonymous   |     |   Comment #1
BofA did not pay me the promo $75 bonus as advertised when I opened a checking account earlier this year. I called them at least 3 times about it. After 5 months of waiting, I closed my account and decided never to do business with them again.