how much to open checking account bank of america

Chase Business Bank Account: Starting at $0 in monthly fees (when you Bank of America's Business Fundamentals Checking account includes. Online and mobile banking; Bill pay; eStatements (paper statements available for a $2 monthly fee); Mountain America Visa® debit cards; Unlimited check-writing. Bank of the West offers a variety of financial services; including checking and savings accounts, credit cards, auto, home and personal loans.

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How To Open a Bank of America Checking Account

Banking / Checking Account

LOS ANGELES, CA/USA - AUGUST 30, 2014: Bank of America Center.

Ken Wolter /

Whether you need a convenient way to pay bills, track your finances or provide proof of payment, having a checking account can come in handy. It also serves as a more secure method of payment than cash.

Although there’s no shortage of financial institutions to choose from when you’re interested in opening an account, Bank of America is ranked as one of the best national banks of 2021. So it’s not by accident that the bank has several good checking account options for you to consider. Read on for the full details of the bank’s Advantage Banking checking account settings and what you’ll need to open an account.

What Do You Need To Open an Account at Bank of America?

To open a checking account with Bank of America, you’ll need to provide your personal information to complete the application, including:

  • Current mailing address
  • Social Security number
  • Email address
  • Account number (if you have an existing checking account)
  • Same information for any joint account holder

You’ll be required to show two forms of identification. Acceptable primary forms of ID include:

  • Driver’s license
  • State-issued ID with photo
  • U.S. passport
  • Military ID with photo
  • Bank of America-branded debit or credit card with photo

Your second form of ID verifies your primary ID. Types of acceptable secondary IDs include:

  • Major credit card from another financial institution
  • Major retail credit card from a national department store or retail company
  • Debit card with Visa or Mastercard logo from another financial institution
  • U.S. college or university ID
  • U.S. student ID card from a local high school
  • U.S.-issued employment or work ID card or badge

Decide Which Bank of America Account Is Best for You

Once you’ve gathered your documents, you’ll need to choose the Bank of America checking account setting that best suits your needs. Bank of America currently offers three options:

  • Bank of America Advantage Plus Banking®: This account setting is designed for individuals and students who want an account with a low minimum balance requirement. The monthly service fee is $12, but Bank of America will waive the fee if you have a monthly $250 direct deposit, you maintain a $1,500 minimum daily balance, you’re a student less than 24 years old or you enroll in the Preferred Rewards program.
  • Bank of America Advantage Relationship Banking®: This account setting is for individuals who maintain a high balance in their checking account. You’ll earn interest and receive perks such as no service fees, free incoming domestic wires and the option to open other checking or savings accounts with no monthly maintenance fees. If you don’t maintain a combined $10,000 in balances among all of your Bank of America accounts, and you’re not a member of the Preferred Rewards program, then you’ll have to pay a $25 monthly service fee for Advantage Relationship.
  • Bank of America Advantage SafeBalance Banking®: The Advantage SafeBalance is a “checkless” checking account setting, which means there is no paper check writing for this account setting. It is more of a digital payment method with a $4.95 monthly service fee that is waived for students and Preferred Rewards members.

Now that you’ve reviewed what Bank of America’s Advantage Banking checking settings have to offer, you can make an informed decision as to whether one suits your needs. If you’re still not sure or want to read more before you decide, check out a review of the bank that covers its products, fees and how it compares to its competitors.

Click through to learn more about Bank of America and decide whether it’s the right bank for you.

This article has been updated with additional reporting since its original publication.

About the Author

Alicia Bodine is a New Jersey-based writer specializing in finance, travel, gardening and education. With more than 13 years of experience, her work has appeared in, Livestrong, eHow, USA TODAY, GlobalPost, and wiseGEEK.



Minimum deposit to open


Fee$12 per month
To waive the fee· Make one qualifying direct deposit of $250 or more
· OR maintain a minimum daily balance of $1,500
· OR sign up for Preferred Rewards
· OR be under the age of 24 and enrolled in school
Minimum deposit to open$100
ATMsOver 16,000 ATMs
ATM transaction fee$0
Out-of-network ATM fee$2.50
Overdraft fee$35
Nonsufficient funds fee$35
  • Mobile/remote check deposit

Review by

Peter Carleton

[email protected]

Peter Carleton is a writer that covers banking and investing, breaking down what you need to know about where you put your money. When Peter's not thinking about cutting-edge banking apps and robo-advisors, he runs a creative agency and spends his spare time cooking or reading.

Expert review

Bank of America’s Advantage Plus Banking is best for those who want to write checks and like banking at physical branches. This no-frills checking account offers a handful of ways to access your money, and you can sign up for Balance Connect, BofA’s overdraft protection service.

But it also has higher fees and a smaller ATM network than many other banks. And you’ll need to deposit at least $100 to open the account.

If you’re looking for a traditional bank that lets you meet with bankers face-to-face, this account is a decent option. But many online-only banks like Ally Bank offer more features and convenience, and they don’t make you satisfy certain criteria to avoid a monthly fee.

You can open this account at a branch, by phone or online:

  1. Go to the provider’s site and follow the steps to apply.
  2. From the Bank of America website, click Checking, then Bank of America Advantage Banking.
  3. Scroll down to Advantage Plus, click the down arrow, then click Open now.
  4. Select any options that apply to you, then click Go to application.
  5. Enter your personal information, then click Continue.
  6. Set up and fund your account, review the details and Submit your application.


Regardless of how you open this account, you’ll need to meet a few eligibility requirements:

  • Have an initial deposit of at least $100
  • Possess a valid Social Security number
  • Have a permanent US address
  • Hold valid state-issued ID or a passport
  • Be at least 18 years old if opening online

Required information

During your application, you’ll need to provide the following information:

  • Name
  • Date of birth
  • Address
  • Employment information
  • Contact information
  • Social Security number — or passport for international applicants

Bank of America Advantage Plus Banking is covered by FDIC deposit insurance and issued by one of the Big Four banks, but besides security, you’ll also get:

  • Balance Connect. This optional overdraft protection service lets you link up to five other BofA accounts as back-up funding sources in case you overdraw. There is a $12 fee per use, but that’s easier to swallow than the $35 fee the bank usually charges.
  • Preferred rewards. Join the Preferred Rewards program to get better interest rates, credit card bonuses, ATM fee waivers and more.
  • Money management tools. Use the budgeting tool to take control of your money by tracking your habits and creating budgets.

When you sign up for this account, you’ll get a Visa debit card that allows you to shop almost anywhere. Plus, you’ll have access to over 16,000 fee-free ATMs and over 5,000 branches.

As an added bonus, you can use cardless ATMs to make transactions using only your smartphone or other contactless device.

If you use an out-of-network ATM, you’ll pay the following fees:

  • Domestic ATM fee: $2.50 per transaction plus fees from the ATM owner.
  • Foreign ATM fee: $5 per transaction plus fees from the ATM owner.

Bank of America Advantage Plus Banking comes with a few drawbacks to be mindful of:

  • Monthly service fee. You’ll pay $12 per month to keep the account open, but you can avoid the fee if you meet any of the following criteria: you’re a student younger than 24; receive at least one direct deposit of $250 or more per billing cycle; maintain a minimum daily balance of $1,500 or qualify for BofA’s Preferred Rewards program.
  • Opening deposit. It takes a deposit of at least $100 to open the account.
  • Overdraft fees. If you don’t have any other BofA accounts, you can’t take advantage of Balance Connect, the bank’s optional overdraft protection service. This means you’ll pay $35 per overdraft, up to four times a day.

If you’re searching for a checking account with low fees and a low minimum deposit, you’ll want to keep looking. As always, compare your options when choosing a checking account.

Case study: Jenn’s experience – May 2019

profile pic

Jennifer Gimbel

I’ve had a Bank of America Advantage Plus Checking Account for over 15 years now — this was the first checking account I opened when I was in high school. The reason I first chose BoA was because of how many ATMs it has around the country, which I’ve found convenient over the years.

However, I’ve recently been thinking of opening a checking account with a different bank because of how many times my BoA debit card has been “compromised.” Though I’ve thankfully never had my account hacked, I’ve gone through over five different debit cards over the years due to potential security risks. Between waiting days for my new debit card to arrive and having to change the payment information on a lot of my online accounts, it’s been a bit of a hassle.

Compare similar checking accounts based on fees, ATM networks and minimum initial deposits.


How Much Should I Keep in My Checking Account?

A checking account is a prerequisite for many aspects of modern life -- utilities, gym memberships, and even other financial accounts like credit cards. But while having a checking account is a given, there isn't a hard rule for how much to keep in checking. 

Below, I'll explain the ins and outs of deciding how much to keep in checking without getting too scientific about it.

The right amount of money to keep in a checking account

One helpful rule of thumb is to keep one to two months' worth of spending in your checking account. The rest of your funds should go to savings accounts or retirement and investment accounts. The rationale for this boils down to four simple and straightforward reasons:

1. You'll largely avoid the risk of an overdraft

Even the wealthiest people can slip up and spend more than they have in their checking account. If your checking account balance falls below $0, you'll incur overdraft fees. You could pay $35 or more for every transaction made while your balance is below $0. Some traditional banks can hit you with more than $195 in charges for multiple overdrafts in a single day. Many banks offer overdraft protection, typically for a fee, to protect you from these extra charges. 

2. Pre-authorization holds can hurt

Some merchants are notorious for doing "pre-authorization holds" on debit cards. For example, if you use your debit card to buy gas, the gas station may place a hold on your card for up to $100. This reduces your available balance (but not your actual balance) by that amount. When the actual purchase amount clears your account, the gas station will then release the hold. 

Pre-authorizations can tie up your money until they are released. They are commonly used by hotels and rental cars, and can tie up your money for days at a time. Preauthorizations can hit your checking account balance. A better option? Use a credit card, especially a travel credit card, rather than a debit card for these payments. 

3. You'll need to meet the minimum balance requirement (and then some)

Most traditional banks require you to maintain a minimum account balance to avoid monthly service charges. These typically range from $100 to $2,500, though most are much closer to the lower end. If your bank has a particularly high minimum balance requirement, you don't want to have to worry about how much to keep in your account. Your priority should be to switch to a no-fee, no-minimum online checking account. 

Minimum balances aside, how much money can you have in a checking account? There is no maximum limit, but your checking account balance is only FDIC insured up to $250,000. However, as we'll cover shortly, it makes sense to put extra cash somewhere it will earn interest.

4. Liquidity matters

Most vendors take cash, debit, and/or credit cards. However, a select few are cash-only or cash- and debit-only. Having money in a checking account means you're only an ATM or debit card away from making a purchase with a payment-picky vendor. This is especially important when you keep your savings and checking at different banks, and transfers aren't instantaneous.

Admittedly, one to two months' worth of spending is a somewhat arbitrary amount to keep in a checking account. But it's high enough for most people to go a long time without having to move money between accounts and avoid an overdraft.

If you get paid by direct deposit into a checking account biweekly, keeping a checking account balance of one month's spending will all but guarantee you never overdraft your account.

Why you shouldn't keep all your money in a checking account

In a perfect world, we'd all keep our money in savings accounts and skip the checking account altogether. But because regulations limit savings accounts to six transactions a month, they aren't practical for people who need to pay bills or make debit card purchases.

This is exactly why checking accounts exist: They're transactional accounts where you keep money you may need in the near future. But they aren't a good place to store all your cash for two big reasons:

  1. Low interest rates: Even the very best checking account pays less in interest than an online savings account or money market account. You want to keep most of your cash where it earns the most interest. A checking account is not that place.
  2. Theft risk: Though this is a small risk, the reality is that money you keep in your checking account can be easily accessed via a debit card. If your card is lost or stolen, your account could be wiped out by unauthorized purchases or ATM withdrawals. Debit cards have poor consumer protections against fraud. If it takes you too long to realize your account has been compromised, you could be fully responsible for any fraudulent charges. Meanwhile, many credit card issuers offer zero liability for fraudulent transactions. This means you're totally off the hook if someone makes credit card purchases in your name. This is why we advise using credit cards or cash. You may see this as paranoid, but you only need to have your debit card number stolen once to realize how troublesome it can be.

Don't take these reasons to the extreme. I'm not advising you keep your checking account balance at the bare minimum; just keep things in perspective. Like many aspects of your financial life, it's about avoiding extremes. Don't stress whether you want to keep a checking account balance of one month's expenses vs. three month's expenses. But don't keep all your money in a checking account when it could be earning interest elsewhere.


6 Things Know Before Opening a Bank of America Student Account

Like many college students, opening a bank account could be the first step you take in managing your personal finances. Even if you had a checking or savings account while in high school, you might be considering changing banks in college. Maybe there’s a Bank of America branch on or near your university campus, or perhaps you’ve heard good things about BofA and wonder if that particular bank is a good choice for you. 

This article will provide the information you should know before opening a student account at one of the largest banks in the U.S., Bank of America. Topics covered include:

  • Eligibility requirements for opening a BofA student checking account
  • The difference between the two types of BofA student checking accounts and how to decide which is best for you
  • The pros and cons of opening a Bank of America student checking account
  • What you need to know about BofA checking service fees
  • What you need to know about minimum balances
  • How to decide if a BofA checking account is the right choice for you 

Eligibility Requirements for Bank of America Student Checking Accounts

Bank of America has two types of checking accounts suitable for most students: the BofA Advantage SafeBalance Banking checking account and the Advantage Plus Banking checking account. Even though BofA doesn’t specifically refer to either of these as “student accounts,” they will waive their monthly service fees for students who are under 24 years old and enrolled in high school, a vocational program, or college or university. 

It’s easy to open either of these new accounts. You just need to present your Social Security number, provide a minimum opening deposit of $100 for the Advantage Plus or $25 for the Advantage SafeBalance account, and maintain a permanent address in the U.S. 

Bank of America Advantage SafeBalance vs. Advantage Plus

While the Advantage SafeBalance and Advantage Plus accounts offer a monthly maintenance fee waiver for students, there are significant differences between the accounts:

  • Advantage Plus: The Bank of America Advantage Plus Banking account is a traditional checking account. You can purchase paper checks to write on the account, as well as use a debit card with the account to use for purchases and at ATMs. If you overdraw the account — take out or spend more money than you have in your account at the time — you will be charged an overdraft fee. Note that you might be able to set up overdraft protection for this account, but that would entail setting up a savings account or making some other arrangement with the bank — like a line of credit — that likely won’t be an option if you are a student.
  • Advantage SafeBalance: The Bank of America Advantage SafeBalance Banking account doesn’t offer checks, but you do get a debit card to use. You’ll never be charged an overdraft fee with this account because the bank won’t honor purchases or withdrawals in excess of your balance. If you don’t have enough money in your account to cover the transaction, they will simply decline payment. 

Pros and Cons of Bank of America Checking Accounts

As is the case with all banking options, you’ll find some pros and cons to each. Ultimately, which type of account you choose will depend on your particular circumstances and needs.

The following sections list some of the pros and cons associated with the Bank of America checking accounts to help you make a sound decision. 

Pros of Bank of America Checking

BofA’s checking accounts definitely offer some real advantages. They include:

  • Branch accessibility: Bank of America has 4,300 branches spread out over 37 states and Washington, D.C. If you go to school in one of those states, you should easily be able to find a bank branch on or close to campus.
  • ATM accessibility: Bank of America makes on-the-go banking extremely convenient for busy college students. BofA operates around 17,000 ATMs where you can check your balance, make a deposit, transfer funds between accounts or make a cash withdrawal without having to pay a user fee. 
  • Award-winning mobile app and online banking: BofA’s award-winning mobile banking app lets you do practically all of your banking on your smartphone. You’ll be able to see all of your accounts, make mobile check deposits, set up bill pay, transfer funds and instantly send money to friends through Zelle, all without ever having to leave your dorm room. You can also use your computer for online banking.
  • Savings incentives: Bank of America invites debit card users to enroll in its Keep the Change program. Under the program, each time you make a purchase using your debit card, the amount of the purchase is automatically rolled up to the next whole dollar amount, and the excess change is automatically transferred to your savings account. This is a great way to begin budgeting for a spring break trip or saving up for a plane ticket back home.

Cons of Bank of America Checking

Of course, like anything else, banking with Bank of America has a few downsides.

  • Inconvenience: Often, a student will open a bank account in their hometown — maybe because it’s where their parents’ bank is — and then use a branch of that same bank near their college campus when the need arises. However, if you open a Bank of America account in your home state and then end up attending college in one of the 13 states that don’t have a Bank of America presence, you could end up in a bind. Not only will you not be able to do in-person banking when you want to, but you also won’t find fee-free BofA ATMs.  
  • High fees:
    • If you end up using a non-Bank of America ATM with your BofA debit card, you could end up paying a lot in transaction fees. BofA charges $2.50 per transaction, plus, you will be charged whatever fees the financial institution that owns the ATM charges. You could end up paying anywhere from $5 to over $8 or $9 per ATM transaction. 
    • Bank of America also charges high overdraft fees if you choose a checking account — like Advantage Plus — that allows for overdrafts. Bank of America charges its customers $35 each time a checking account is overdrawn. If you make a mistake with your account and write several checks that end up in overdraft, you could easily incur over $100 in fees from that one mistake.  

Bank of America Checking Service Fees

Many banks charge their customers a monthly maintenance fee for their checking account. Bank of America is no exception. While you’ll be allowed to have a service fee-free account until you graduate or reach the age of 24, whichever comes first, you will incur checking service fees if you keep your BofA account beyond graduation. Those fees are:

  • $12 per month for the Core Checking account and Advantage Plus checking account, unless your employer or another person or institution makes a direct deposit of at least $250 each month into your account or you maintain a minimum daily balance of $1,500 or more
  • $25 per month for BofA’s interest checking account, which is waived if you keep a combined $10,000 balance in all of your Bank of America accounts
  • $4.95 a month for your SafeBalance banking account

Bank of America Checking Minimum Balances

The minimum balances BofA charges for its two student-friendly checking accounts — $25 for the SafeBalance and $100 for the Advantage Plus — are not unusual. Many, if not all, banks require some kind of minimum balance to open the account or avoid fees or receive other perks. 

Banks impose minimum balances on account holders because they want more deposits. The more money banks have in their coffers, the more they can lend to people and charge interest for. Also, banking regulations favor banks that maintain a certain level of bank deposits, so incentivizing you to keep money in your account helps banks with compliance. Finally, banks offset their operation costs with the fees they charge customers, so whether you keep a minimum balance, they still make money.  

Confusion can arise, however, because banks use different methods to calculate whether and when you have met the minimum balance. Be sure to ask the bank how and when they calculate their minimum balance requirements, including what constitutes a statement cycle, before deciding to open your account. Also, be sure to ask if there are other ways to avoid incurring fees after you stop being an eligible student, such as using online banking or setting up direct deposit. 

Is Bank of America Checking Good for You?

Whether Bank of America ends up being the right choice for a student checking account depends on if the benefits outweigh any potential problems for you. As one of the largest banks in the country, there’s a good chance that you will have a BofA branch in proximity to your home or campus. However, if you are studying in a state without a BofA, you could end up incurring a lot in ATM fees.

If you decide to go with a BofA account, you’ll need to choose between the Advantage Plus or SafeBalance account. If you will be doing a lot of check-writing, you will need the paper checks that come with Advantage Plus. Keep in mind that you could be charged a lot in overdraft fees if you are not extremely careful with how you manage your account. 

If you never write checks and don’t like the risk of incurring overdraft fees, then SafeBalance might be the way to go. It’s important to remember that after you turn 24 or graduate from college or your vocational program, both accounts will revert to charging you fees unless you meet certain requirements, so make sure you understand all the possibilities. 

Need More Help? Is Your Resource for Student Financial Information

Planning for college is an exciting time in every student’s life. But it can also be stressful, especially when it comes to figuring out how to handle the financial aspects of obtaining an education. Along with choosing the best bank to meet your needs, you might be gathering information on how to save for college, how student loans work, and how you will pay off your student debt. can help. We’re experts in helping students like you manage the financial aspects of a college education, freeing you up to focus on working for your degree, rather than on how you’re going to pay for it.


Bank of America is one of the largest banks in the United States and chances are you have a branch just around the corner.

Bank of America Logo

While headquartered in Charlotte, North Carolina, Bank of America has approximately 4,600 retail branch locations and almost 16,000 automated teller machines sprinkled throughout the country. I did a quick search on their location tools and found 50 results within 12.7 miles! (many were ATMs, but still quite a sizable footprint)

Bank of America is the second-largest bank behind JPMorgan Chase – and today you can find out how they will give you money to open an account with them.

Bank of America has two cash offers:

We’ll discuss both:

Discover Bank Logo

💰 Discover Online Savings Account – $150 or $200

Discover Bank is offering a $150 or $200 bonus to open your first Online Savings Account. Just open it with the code WH21 by 12/15/2021 and then deposit at least $15,000 to get the lowest bonus amount. Deposit $25,000 to get the higher amount.

Learn more about this offer

If this offer isn’t for you, remember that Wells Fargo has a nationwide $200 offer worth checking out.

Promotions For New Customers to Bank of America — $100

If you are not a customer of Bank of America at all, the offer is not as generous (though not all existing customers are offered the account bonus listed below). Their public nationwide offer is for $100 and to get it, you need to open a new checking account on their offer page.

Three Bank of America Checking accounts qualify for this bonus:

  • Bank of America Advantage SafeBalance Banking® – $25 opening deposit, $4.95 monthly fee waived for eligible students or enrolees of Preferred Rewards
  • Bank of America Advantage Plus Banking® – $100 opening deposit, $12 monthly fee waived with direct deposit or daily balance requirements, etc.
  • Bank of America Advantage Relationship Banking® – $100 opening deposit, $25 monthly fee waived with direct deposit or daily balance requirements, etc.

Open the account and set up and receive qualifying direct deposits of $1,000 or more into that account within the first 90 days of opening and you’ll get your bonus. Confirm the monthly fee waiver rules for each (they can change from when this is published) but they are relatively easy to satisfy.

Don’t forget, the Bank of America promotional offer code is DNL100CIS. If you click through the links on this site, the code will be entered automatically for you.

Learn more about this offer
(Offer expires 6/30/2022)

Existing Non-Checking Customers — $300

If you already have an account with Bank of America, such as a credit card, but you don’t have a personal checking account, log in and you may see a higher offer.

Bank of America activity center screenshot

On the right-hand side of the screen, you’ll see an “Activity Center.” When you click on Special Offers & Deals, you may see the following offer.

“*This exclusive offer is only for select Bank of America® customers who don’t already have a personal checking account with us and who received an email or direct communication from Bank of America.”

The best one we’ve seen is where you:

  • Open a Bank of America Core Checking or Interest Checking account, and,
  • Set up a qualifying direct deposit totaling $4,000 or more within the first 90 days of opening your account to get the $300 bonus.

The terms will be similar though the dollar amounts may vary based on what they’ve decided to offer you.

Both accounts have monthly maintenance fees. These can be waived if you meet other qualifications such as a minimum daily balance or maintaining that direct deposit. The bonus money will be reported as income as a 1099-MISC.

To get this offer, you need to log into your existing Bank of America account and look in the Activity Center menu. If you don’t see it, it’s no longer available.

How Does This Bonus Compare?

If you’re an existing customer and qualify, the $300 bonus is pretty good because it’s easy. We maintain a list of bank bonus offers and there are very few offers that are as generous as the $300 (with such easy requirements). Since you already have an existing relationship with Bank of America, it makes the maintenance of the account simpler since you have a login already.

If you’re not a customer, the $100 bonus not bad but not as good as some others. I’ve never seen a higher offer from Bank of America so this is not a case of “wait and see” if they make a higher offer sometime later.

Wells Fargo – $200

Wells Fargo has a nationwide promotion of $200 for a new checking account when you open a new checking account with at least $25 and receive a total of $1,000 or more in qualifying direct deposits into the new checking account within 90 days from account opening.

You can learn more about the Wells Fargo promotions to see how to get it.

Discover Online Savings Account – $150 or $200

Discover Bank is offering a $150 or $200 bonus when you open your first Discover Online Savings Account with the promotion code WH21 and deposit at least $15,000 into the account within 30 days. You get $150 if you deposit $15,000 or more and $200 if you deposit $25,000.

Chase Total Checking® – $225

Chase Bank will give you $225 when you open a Total Checking account and set up direct deposit within 90 days. There is a $12 monthly fee that is waivable with a monthly direct deposit of just $500, so no gotchas on this deal!

HSBC Premier Checking – $450

HSBC has an offer where you can get $450 for eligible new customers who open an HSBC Premier checking account and make recurring monthly qualifying direct deposits of at least $5,000 for 3 consecutive months. Click here to learn more about this offer.

Huntington Bank – up to $500

If you are a resident of Colorado, Illinois, Indiana, Kentucky, Michigan, Minnesota, Ohio, Pennsylvania, South Dakota, West Virginia, or Wisconsin then you could get up to $500 from Huntington Bank for opening a new checking account. There are several checking accounts that qualify but they’re great offers if you live in their geographic region. Click here to learn more about Huntington Bank offers.

So as you can see, the public offer from Bank of America is OK. Other banks both have similar large geographic footprints (Chase is bigger) so you aren’t getting anything extra by going with Bank of America.

Before you take advantage of this or any other bank offer, review this guide on bank account bonuses to make sure you know what to watch out for.

What is an offer code for Bank of America?

The offer code for the $100 new account bonus is DNL100CIS.

Does Bank of America give you money for opening an account?

Only when they have an active promotion, such as the $100 offer for opening a new checking account. The most popular promotion is getting $100 for opening a new account and set up and receive qualifying direct deposits of $1,000 or more into that account within the first 90 days of opening.

What is DNL100CIS?

DNL100CIS is the promotion code you must enter to get the $100 bonus for opening a new Bank of America checking account.

How much is the bonus for using the promotion code DNL100CIS?

The code gives you $100 for opening a new Bank of America checking account.

What are the fees on the Bank of America checking account?

There are three checking accounts and the fees vary from $4.95 a month to $25 a month. They can be waived if you set up a direct deposit or maintain a high enough daily balance.

Bank of America $300 Cash Bonus

Bank of America $300 Cash Bonus


  • $300 for existing customers, $100 for new customers
  • Wide geographic footprint
  • Relatively easy bonus requirements
  • Museums on Us program


  • Lower bonus for non-customers
  • Accounts pay no or little interest
  • Monthly maintenance fees (that can be easily avoided)

Learn more


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