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Bank of America $300 New Checking Offer with $2000 direct deposit

+46 Deal Score
54,435 Views
Bank of America New Checking Bonus $300
Expires 01/31/2025

https://promotions.bankofamerica....wToBankCta
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Created 10-22-2024 at 10:19 AM by SlickLocket671
in Finance Bank of America - Bank Advertiser
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These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered. Opinions expressed here are the author's alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

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Joined Mar 2024
L6: Expert
> bubble2 1,254 Posts
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MemorableHose1597
10-24-2024 at 05:22 AM.
10-24-2024 at 05:22 AM.
If I open; deposit 2k direct, get 300 and close immediately 60 days later. How much $ is it penalty? 25 or so? I don't want this bank tbh but il take the 300
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Joined Dec 2017
L8: Grand Teacher
> bubble2 3,378 Posts
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DonkeyFinest
10-24-2024 at 06:09 AM.
10-24-2024 at 06:09 AM.
Quote from Flawless700 :
Their overdraft fee is $10, down from $35.

Guess things do change huh?
It's people going back to crooked banks that keeps these corporate scams going. What does it matter if BoA reduced OD fees? They just have to charge more. Go open an account with them then.


"Bank of America has been accused of a number of overdraft-related practices that some say are illegal and constitute a scam, including:
Double-dipping: Charging customers multiple overdraft fees for the same transaction
Misleading customers: Promising relief from overdraft fees after ending its Client Assistance Program, and misleading customers into thinking it was better to incur overdraft fees than borrow money
Withholding rewards: Failing to properly issue rewards to credit card users
Opening accounts without consent: Signing up customers for card accounts without their knowledge or authorization
In July 2023, Bank of America was ordered to pay more than $100 million to customers and $150 million in penalties to the Consumer Financial Protection Bureau (CFPB) and the Office of the Comptroller of the Currency (OCC)."
Reply
Joined Sep 2019
L1: Learner
> bubble2 2 Posts
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PurpleSoda172
10-24-2024 at 03:09 PM.
10-24-2024 at 03:09 PM.
Quote from Flawless700 :
The cash deposit fee has been gone for many years. That account type no longer exists. I think it was called E-banking.

There is no paper statement fee if you go electronic statements, which is the default statement setting.

This is for direct deposit, not a wire. No need to wire at all. Can use ACH instead if you really need to. But it's true there is an incoming wire xfer fee.

BOFA doesn't use deposit slips since last year.

I suppose their banks can be busy depending on when you go. Their ATM withdrawal limit is $2000 a day though (even higher for Merrill clients) , which I think is the highest you'll find.

Personally a fan of Bofa due to Preferred Rewards, Merrill partnership, and their good CCs.

5.25% cash back on online purchases and 2.62% on everything if you can get to platinum honors. (100k between everything, including retirement)

Which card offers that?
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Joined Jun 2005
L6: Expert
> bubble2 1,772 Posts
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mtnagel
10-24-2024 at 03:15 PM.
10-24-2024 at 03:15 PM.
Quote from MemorableHose1597 :
If I open; deposit 2k direct, get 300 and close immediately 60 days later. How much $ is it penalty? 25 or so? I don't want this bank tbh but il take the 300
There is no fee or it would be called out in the T&C.
Reply
Joined Mar 2024
L6: Expert
> bubble2 1,254 Posts
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MemorableHose1597
10-24-2024 at 06:49 PM.
10-24-2024 at 06:49 PM.
Quote from mtnagel :
There is no fee or it would be called out in the T&C.

I ask because keybank told me I will owe 25 for closing my smartly bank account before 180 days. But can't find any info online about it.

But waiting for the $300 bonus to hit before I do of course
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Joined May 2024
New User
> bubble2 9 Posts
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AmusedSwing436
10-25-2024 at 05:31 PM.
10-25-2024 at 05:31 PM.
Quote from cobra11murderer :
lol pretty sure wells fargo has a 325 for new checking and 500 min... so not the best deal. Theres alot of deals like this of course make sure your ready to keep track of irs papers lol

I already have an account with them. Will I still qualify for a second account.
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Joined Sep 2010
L5: Journeyman
> bubble2 831 Posts
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Flawless700
10-25-2024 at 06:18 PM.
10-25-2024 at 06:18 PM.
Quote from PurpleSoda172 :
Which card offers that?

The Customized Cash Card, and their Premium card is the combo I use with platinum honors Preferred Rewards.

The premium card is 2.62% on everything no limit. Also 3.50% on travel and dining. With $100 airline incidentals credit every year. $95 annual fee. Well worth. You could alternatively get the Unlimited card with no annual fee, still get the 2.62% if you're platinum honors.

The Customized Cash card with platinum honors is 5.25% on a category of your choosing (online shopping is mine $2500 spend limit quarterly), 3.5% at Costco Bjs Sam's, and 1.5% on everything.

I use the premium card for 2.62% on everything, and the customized cash card for all online purchases until I hit $2500 spend in the quarter.

The cards are good on their own but if you can get preferred Rewards boosts (gold, platinum, platinum honors) they become pretty unbeatable as far as CCs go.
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Joined Nov 2006
L10: Grand Master
> bubble2 12,659 Posts
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poohbie
10-26-2024 at 07:46 AM.
10-26-2024 at 07:46 AM.
Quote from Flawless700 :
The Customized Cash Card, and their Premium card is the combo I use with platinum honors Preferred Rewards.

The premium card is 2.62% on everything no limit. Also 3.50% on travel and dining. With $100 airline incidentals credit every year. $95 annual fee. Well worth. You could alternatively get the Unlimited card with no annual fee, still get the 2.62% if you're platinum honors.

The Customized Cash card with platinum honors is 5.25% on a category of your choosing (online shopping is mine $2500 spend limit quarterly), 3.5% at Costco Bjs Sam's, and 1.5% on everything.

I use the premium card for 2.62% on everything, and the customized cash card for all online purchases until I hit $2500 spend in the quarter.

The cards are good on their own but if you can get preferred Rewards boosts (gold, platinum, platinum honors) they become pretty unbeatable as far as CCs go.
Is it worth leaving additional money in a no/low interest rate account for the additional cashback %?

And anyone apply in branch with the bonus?
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Joined Jun 2005
L6: Expert
> bubble2 1,772 Posts
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mtnagel
10-26-2024 at 09:14 AM.
10-26-2024 at 09:14 AM.
Quote from AmusedSwing436 :
I already have an account with them. Will I still qualify for a second account.
I have a BoA credit card and I was able to get the checking account bonus previously.
Reply
Joined May 2006
L7: Teacher
> bubble2 3,016 Posts
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CreepyLilBeast
10-27-2024 at 09:55 AM.
10-27-2024 at 09:55 AM.
Quote from poohbie :
Is it worth leaving additional money in a no/low interest rate account for the additional cashback %?

And anyone apply in branch with the bonus?

You can leave the money in merrill and get 4.5% around as of now (treasury funds or etf) or equities (if you feel bullish about it). So, you don't need to let money sit in a no interest account to get to platinum honors.
Reply
Joined May 2016
New User
> bubble2 8 Posts
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MikeS9053
10-27-2024 at 10:08 AM.
10-27-2024 at 10:08 AM.
Quote from beejusa :
There's also an offer for $500 here https://promotions.bankofamerica....hecking500 but it requires a balance of $15,000 from days 31 to 120
So can I open this, get a few direct deposits over the next 4 months, grab the 500, then move most of my money out after the 120 days?
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Joined Oct 2009
L2: Beginner
> bubble2 25 Posts
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babys2k
10-27-2024 at 03:37 PM.
10-27-2024 at 03:37 PM.
It's asking for ssn. Would it do a credit pull? I don't wanna get my score down for $300
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Joined Dec 2019
L3: Novice
> bubble2 205 Posts
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shape107
10-27-2024 at 03:39 PM.
10-27-2024 at 03:39 PM.
Quote from blackfog :
Obviously not. Read the T&C

Thumbs down for bad news.
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Joined Jan 2023
New User
> bubble2 1 Posts
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LivelyMeat2280
10-27-2024 at 11:18 PM.
10-27-2024 at 11:18 PM.
I had a BOFA checking account earlier which I closed 3 months back. If I open a new account now. Would I be eligible for this offer?
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Joined Jun 2005
L6: Expert
> bubble2 1,772 Posts
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mtnagel
10-28-2024 at 03:31 AM.
10-28-2024 at 03:31 AM.
Quote from LivelyMeat2280 :
I had a BOFA checking account earlier which I closed 3 months back. If I open a new account now. Would I be eligible for this offer?
NO. Second paragraph in the T&C:
Quote :
This offer is limited to individuals who have not owned or co-owned a Bank of America personal checking account within the last twelve (12) months
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