Existing customers of other banks and bank switchers who open a qualifying checking account and receive $2,000 in direct deposits by July 31, 2025, can earn a $300 bonus that will be deposited into their account within 60 days of meeting all requirements.
What’s the deal?
Bank of America is offering new personal checking customers a one-time cash bonus of $300 if they:
- Open one of three Advantage Banking accounts—SafeBalance®, Advantage Plus, or Advantage Relationship—via the promotion page with the offer code.
- Make and receive $2,000 or more in qualifying direct deposits within 90 days of account opening.
- Complete these steps by July 31, 2025.
All applications must be submitted online via Bank of America’s promotion link.
Who qualifies?
Eligibility includes people who:
- Were not Bank of America personal checking account holders during the past 12 months.
- Open one of the three participating checking accounts through the offer page with the proper offer code (AFC300CIS or PSJ300CIS). Excluded from the promotion are SafeBalance® for Family Banking, business, and fiduciary accounts.
Step-by-step guide to earning the bonus
- Open an eligible account: Visit the promotion page by July 31, 2025, choose SafeBalance®, Advantage Plus, or Advantage Relationship, and ensure the offer code appears on your application.
- Set up direct deposit: Provide your employer or payer with your new account and routing numbers, and receive at least $2,000 in qualifying direct deposits—such as paychecks, pensions, or Social Security—within 90 days. Transfers from ATMs, person-to-person payments, brokerages, Merrill transfers, or mobile and online banking transfers don’t count.
- Maintain account in good standing: Leave the account in good standing and open until the bonus payment date. While not required, a good balance avoids any issues.
When will the $300 be paid?
When you have met the $2,000 direct deposit requirement, Bank of America will pay the $300 bonus within 60 days of meeting all requirements. If, for example, your 90-day direct deposit cycle expires on October 29, 2025, expect to receive the bonus around the end of December 2025.
The $300 bonus counts as taxable income, and Bank of America may withhold taxes when needed and will report the bonus amount for the year you receive it on a 1099-MISC form. If you receive your bonus in 2025, expect the 1099 in early 2026 to accompany your 2025 tax filing.
Selecting the appropriate account
The three qualifying accounts differ as follows:
- SafeBalance® Banking requires a minimum $25 opening deposit, has a $4.95 monthly fee, which you can waive if you’re under age 25, maintain a balance of $500+, or are a Preferred Rewards member.
- Advantage Plus Banking comes with a $100 minimum opening deposit and a $12 monthly fee, which is waived if you receive one direct deposit of $250 or more, maintain a daily balance of $1,500 or higher, or are a Preferred Rewards member.
- Advantage Relationship Banking also has an identical $100 minimum deposit but a $25 monthly fee, which can be waived by maintaining a $220,000+ daily balance or being a Preferred Rewards member. Choose the account that best fits your banking lifestyle and fee-waiver eligibility.
Opening a qualifying Bank of America checking account and satisfying a simple $2,000 direct deposit condition by July 31, 2025, can earn you a $300 bonus with minimal effort. The reward will be credited within 60 days of completion—just in time for holiday spending or year-end saving. Be sure to take into account tax consequences and keep account status to be eligible to receive your reward.
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