Bank of America is currently offering a limited-time online promotion in which new customers can receive a $300 cash bonus when they open an eligible personal checking account. The offer is valid until May 31, 2025 and is only available on the bank’s official promotional page.
This initiative is intended to attract new account holders by offering a simple incentive in exchange for meeting a few requirements.
According to the official information provided by Bank of America on its website, the promotion is only available to individuals who have not owned or co-owned a Bank of America personal checking account in the previous 12 months.
Advantage SafeBalance Banking®, Advantage Plus Banking®, and Advantage Relationship Banking® are all eligible accounts, but business and family banking products are not. To participate in the promotion, users must apply via the designated offer page and enter the promo code PSJ300CIS during the account opening process.
How to qualify for the $300 bonus
To receive the $300 bonus, applicants must complete two steps:
- Open a new personal checking account online using the offer page by May 31, 2025.
- Set up and receive qualifying direct deposits totaling $2,000 or more within 90 days of account opening.
Direct deposits that qualify must be regular income payments, such as payroll, pension, or Social Security, made by an employer or other payer using the routing and account numbers provided. Transfers between accounts, ATM deposits, and mobile banking transfers do not fulfill the requirements.
Once all of the conditions are met, Bank of America will attempt to deposit the $300 directly into the newly opened account within 60 days. The account must be open, active, and in good standing at the time of payment. Furthermore, customers must provide all necessary tax documentation, such as a valid IRS Form W-9 or W-8, because the bonus may be reported as taxable income.
What do the Advantage Banking accounts offer?
Each of the eligible checking accounts under Bank of America’s Advantage Banking suite is tailored to meet different financial needs:
- Advantage SafeBalance Banking®: Designed for simplified banking, this account prevents overdrafts by not allowing transactions that exceed the available balance. It has a $25 minimum opening deposit and a $4.95 monthly fee, which may be waived under certain conditions.
- Advantage Plus Banking®: Offers more flexibility, including optional overdraft protection with Balance Connect®. The minimum opening deposit is $100, and the monthly fee is $12, which can also be waived.
- Advantage Relationship Banking®: Best for customers who keep higher balances and want to earn interest. This account has a $100 minimum opening deposit, a $25 monthly fee (waivable), and offers features like interest earnings and additional perks.
All Advantage accounts come with access to mobile banking tools, such as:
- Security alerts to track unusual activity
- The ability to lock and unlock your debit card from the mobile app
- Participation in BankAmeriDeals®, which gives cashback on qualifying purchases when using a Bank of America debit or credit card
