Bank of America ranks among the top banks in the U.S., so it’s highly likely you’ve seen one near your home.
Bank of America Symbol
Its main headquarters is in Charlotte, North Carolina, but the bank has a vast network of ATMs and Financial Centers across the country. A brief glance at their locator showed me 50 branches within just 12.7 miles of my location!
I primarily bank with Bank of America because of its widespread presence.
Only JPMorgan Chase surpasses Bank of America in size. Discover how they’re offering incentives for new account openings today.
There’s a current special offer of $100 for newcomers at Bank of America.
They also have an exclusive deal for Merrill Edge, their investment wing.
Insured by FDIC.
New Customer Promotions at Bank of America — Cash Incentive
Bank of America Reward Overview:
- Reward: $100. Further details available on the offer page.
- Eligibility: Only new checking account holders.
- Promotion Code: DMF100CIS
- How to Apply: Exclusively online.
Steps to Receive the Bonus:
- Launch a Bank of America Advantage Banking checking account from the promotional link.
- Within 90 days of initiating your account, establish and get direct deposits amounting to at least $1,000.
- Within 60 days, Bank of America aims to credit the bonus.
Specific terms apply. Refer to the offer details on Bank of America’s website.
Offer Validity: Expires on 8/31/23
If you haven’t yet become a Bank of America Advantage Banking member, their national online promo awards a $100 bonus, accessible only via the Bank of America promotional link.
Three distinct Bank of America accounts are eligible for this incentive:
- Bank of America Advantage SafeBalance Banking® – Opening deposit of $25, $4.95 monthly fee. Fee exemptions apply for students under 25 or members of Preferred Rewards.
- Bank of America Advantage Plus Banking® – Opening deposit of $100, $12 monthly fee. The fee can be dodged by joining Preferred Rewards, having at least a single qualifying direct deposit of $250 or more, or by maintaining a daily average balance of at least $1,500 every statement period.
- Bank of America Advantage Relationship Banking® – Opening deposit of $100, $25 monthly fee. The fee can be bypassed if you sustain a combined balance of a minimum of $10,000 in qualifying linked accounts each statement period or by joining Preferred Rewards.
To secure your bonus, initiate the account and within 90 days, establish and obtain qualifying direct deposits amounting to a minimum of $1,000.
Remember, the promotional code for this Bank of America offer is DMF100CIS. Using the links here will auto-fill the code for you.
Insured by FDIC.
Merrill Edge Self-Managed – Earn up to $1,000
Bank of America’s Merrill Edge extends a welcoming bonus of up to $1,000, contingent on your deposit amount. Merrill Edge focuses on brokerage services, and their Self-Managed account lets investors personally oversee their investments.
The conventional deal provides up to $600 as a bonus. Occasionally, exclusive promotions emerge if you scout for them. The bonus scale is determined by the size of your qualifying deposit, which should be made within 45 days and retained for at least 90 days.
Promotion code: 1000PR.
| Qualifying Assets | Cash Bonus |
|---|---|
| $5,000 – $19,999 | $50 |
| $20,000 – $49,999 | $125 |
| $50,000 – $99,999 | $200 |
| $100,000 – $199,999 | $350 |
| $200,000 or more | $750 |
If you’re not part of the Preferred Rewards scheme, the bonus structure is:
$20,000 – $49,999: $100
$50,000 – $99,999: $150
$100,000 – $199,999: $250
$200,000+: $600
Comparing the Bonus
While the $100 bonus might appear modest, the benefit lies in the widespread accessibility of Bank of America branches. Their vast reach is a primary reason I bank with them.
In my experience, I’ve not come across a more lucrative offer from them, making this a decent incentive for newcomers.
Other notable offers include:
- ⭐Citi Priority Account – Earn up to $2,000 by opening an account before 1/9/2024. Deposit at least $10,000 in New-to-Citi® funds within 20 days and maintain for 60 days post the 21st day. Bonus scales with the deposit amount, with the base tier starting at $10,000.
- Discover Online Savings Account – Earn $150 or $200 by opening your premier Discover Online Savings Account using the promo code WH623 and depositing a minimum of $15,000 within 30 days. Deposits of $15,000 earn $150, while $25,000 deposits earn $200.
- Chase Total Checking® – Avail $200 upon opening a Total Checking account and arranging direct deposit within 90 days. The account has a waivable $12 monthly fee with a direct deposit of merely $500.
In a nutshell, while Bank of America’s offer is decent, other banks with comparable or larger networks (like Chase) present similar bonuses.
Bank of America Inquiries Answered:
- Offer Code for Bank of America? For the $100 bonus, the code is DMF100CIS.
- Does Bank of America Offer New Account Bonuses? Yes, like the current $100 offer which requires new account holders to establish and obtain direct deposits totaling at least $1,000 within 90 days.
- What is DMF100CIS? It’s the promotional code needed to avail the $100 bonus when opening a new checking account.
- Bonus Amount using DMF100CIS? $100 for new checking accounts.
- Bank of America Checking Account Fees? The three types of checking accounts have monthly fees ranging from $4.95 to $25. These can be sidestepped with direct deposits or maintaining a certain balance.
Bank of America Cash Reward Review
Score: 8.5/10
Strengths:
- $100 incentive for new clients
- Extensive nationwide presence
- Simplified bonus prerequisites
- Museums on Us initiative
Drawbacks: - Reduced bonus for external customers
- Accounts yield minimal to no interest
- Monthly upkeep costs (though they can be bypassed)
