Bank of America $100 Checking Bonus – Public & Nationwide – Doctor Of Credit

Update 6/29/23: Extended until August 31, 2023.

Update 12/1/22: Extended until June 30, 2023

Offer at a glance

• Maximum bonus amount: $100
• Availability: Nationwide
• Direct deposit required: $1,000+ within 90 days
• Additional requirements: None
• Hard/soft pull: Soft, as long as you opt out of overdraft protection
• ChexSystems: Mixed datapoint, most say they don’t pull
• Credit card funding: None, but you can fund with a debit card up to $250
• Monthly fees: $12-$25, waive-able
• Early account termination fee: None
• Household limit: None listed
• Expiration date: December 31st, 2017 February 28th, 2018 May 31st, 2018 December 31, 2018 February 28, 2019 December 31st, 2019 December 31st, 2020 December 31, 2022

The Offer

Direct link to offer

• Bank of America is offering a $100 bonus when you open a new eligible checking account and complete the following requirements:
  • Set up and receive Qualifying Direct Deposits of $1,000 or more into that account within 90 days of account opening

The Fine Print

• This offer is intended for new checking customers only; you are not eligible for this offer if you were a signer on or owner of a Bank of America personal checking account within the last six (6) months. Offer expires on December 31, 2017 February 28th, 2018 May 31st, 2018; however, Bank of America may change or discontinue this offer at any time before this date without notice.
• A “Qualifying Direct Deposit” is a recurring direct deposit of a paycheck, pension, Social Security or other eligible regular monthly income, electronically deposited by an employer or an outside agency into your new checking account. A transfer done via ATM, online, or teller, or a transfer from a bank or brokerage account, Merrill Edge® or Merrill Lynch® account is not a Qualifying Direct Deposit
• If you meet all of the requirements, we will attempt to deposit the earned bonus directly into your new personal checking account within sixty (60) days; if unable to do so, a check will be issued. The new personal checking account must be open up to and including the date any earned bonus is paid in order to receive the bonus.
• Your account does not qualify for the bonus until you provide all of the information we require in connection with opening the account by the promotion end date. This includes information we require to identify each account owner and to report the bonus to the Internal Revenue Service (IRS), including a validly completed IRS Form W-9 or Form W-8 (as applicable).
• The value of this bonus may constitute taxable income to you. Bank of America may issue an IRS Form 1099 (or other appropriate form) to you that reflects the value of such bonus. To the extent required by law, Bank of America may withhold tax or other amounts from the payment. Please consult your tax advisor, as neither Bank of America, its affiliates, nor their employees provide tax advice.

Avoiding Fees

Early Account Termination Fee – None

This account has no early account termination fee.

Advantage Plus

The Advantage Plus account has a $12 monthly fee, which can be waived in any of the following ways:

• Make at least one qualifying Direct Deposit of $250 or more, OR
• Maintain a minimum daily balance of $1,500 or more, OR
• Be a student under age 23 and enrolled in high school, college, or vocational program, OR
• Enroll in the Preferred Rewards program and qualify for the Gold, Platinum, or Platinum Honors tier (first 4 checking accounts only).

Advantage Relationship

The Advantage Relationship account has a $25 monthly fee, which can be waived in either of the following ways:

• Maintain combined balances of $10,000 or more each statement cycle, OR
• Enroll in the Preferred Rewards program and qualify for the Gold, Platinum or Platinum Honors tier (first 4 checking accounts only).
• “Combined balances” include:
  • Average daily balances for the statement cycle in eligible linked checking, savings and money market savings accounts, AND
  • The current balances, as of the end of the Interest Checking statement cycle in linked personal CDs and IRAs, AND
  • The current balance, as of two business days before the end of the Interest Checking statement cycle, in your eligible linked Merrill Edge and Merrill Lynch investment accounts.

Our Verdict

As mentioned before there is a targeted $300 checking bonus from Bank of America, they both have the same expiry date of December 31st, 2017. If I wasn’t targeted for that deal I’d do this one as it looks pretty easy to meet the requirements and it’s nationwide (you can also repeat it if you haven’t had an account within the last 6 months). Because of that I will be adding this to our best checking sign up promotion page. There is also a $200 business checking bonus or $300 + $200 in branch business checking bonus.

Big thanks to reader, Curmudgeon who let us know. Learn how to find bonuses and contribute to the site here.

Useful posts regarding bank bonuses:

Post history:

• Update 11/21/21: Extended until June 30, 2022
• Update 6/30/20: Extended until December 31, 2021
• Update 12/23/20: Extended until June 30, 2021.
• Update 6/12/20: This has been extended until December 31st, 2020. We’d still recommend waiting for a $300 offer to return.
• Update 1/2/19: This has been extended until June 30th, 2020. Probably best to wait for a $300 offer to return though. Hat tip to reader Kyle
• Update: There is now a new bigger deal for $300
• Update 2/18/19: Deal has been extended until December 31st, 2019.
• Update 1/2/2019: Deal has been extended until February 28th, 2019.
• Update 10/03/18: Offer is back and valid until December 31, 2018. Could especially make sense in conjunction with the upgraded $900 Merrill Edge offer. (Hat tip to reader LW)
• Update 03/26/17: Offer is back and valid until May 31st, 2018. Hat tip to reader Bhanna. 
• Update: 01/10/18: Offer is back and valid until February 28th, 2018. Had been expired since end of December 2017. Also looks like you’ll be eligible for a second bonus as long as your old account has been closed for six months. Hat tip to reader LAG.
• There is a targeted $300 offer, please check to see if you’re targeted for that before thinking about this one!