Bank of America Promotions

Bank of America Personal Checking Accounts

Bank of America offers two different personal checking accounts. To determine which one is better for you, consider the minimum balance, deposit requirements, and maintenance fees of each.

• Core Checking®: This is Bank of America’s basic checking account. The minimum deposit to open is just $25. There is a $12 monthly maintenance fee UNLESS you are able to meet the following requirements: make at least one qualifying deposit of $250 a month OR maintain a minimum daily balance of at least $1,500.

  If you’re a student under the age of 24 enrolled in high school, college, or vocational school, you are eligible to get the monthly maintenance fee waived.

• Interest Checking®: This is Bank of America’s interest bearing account. This account requires higher balances. The minimum deposit to open is $100, and the monthly maintenance fee is $25. However, you can get this waived if you maintain a combined balance of $10,000 across all your Bank of America accounts and/or Merrill Edge® and Merrill Lynch® investment accounts.

  Other benefits of this account includes being able to open up to 3 additional Interest Checking® and 4 savings accounts for no monthly fee.

Both accounts come with free mobile banking, mobile check deposit, and alert. They also come with a debit lock/unlock feature. If you’ve misplaced your debit card and need time to find it, you can just lock it on the mobile app. And then unlock it after you’ve found your card.

Bank of America Business Checking Accounts

Bank of America also offers 2 different business accounts:

• Business Fundamentals®: This is the basic business account ideal for small businesses just starting out. The monthly maintenance fee is $16/mo, but you can get it waived if you do ONE of the following: spend at least $250 in purchases on your business debit or credit card, maintain an average monthly balance of $5,000, maintain a daily balance of $3000, OR maintain a combined balance of $15,000 across all your linked BofA accounts.

• Business Advantage: This account is better for more established small businesses able to maintain a higher balance. The monthly maintenance fee is $29.95/mo, but you can get it waived if you do ONE of the following: spend at least $2,500 in purchases on your business credit card, maintain a monthly balance of $15,000, maintain a combined balance of $35,000 aacross all your linked BofA accounts, OR actively use BofA Merchant Services and Payroll Services.

  You also get a second Business Advantage checking account for no maintenance fee. And you get free domestic and international incoming wire transfers.

Get the Most Out of Your Bank of America Checking Accounts

• Get more benefits with Bank of America Preferred Rewards: This program rewards you more as you maintain a higher balance in your combined BofA checking account and/or Merrill Edge® and Merrill Lynch® investment accounts. Here are the different tiers and benefits you get:
  • Gold level: Need a combined balance of $20,000. You get a 5% interest rate booster on a Rewards Money Market Savings account, and a 25% bonus on eligible credit cards rewards.

  • Platinum level: Need a combined balance of $50,000. You get a 10% interest rate booster on a Rewards Money Market Savings account, a 50% bonus on eligible credit cards rewards, 1 free ATM transaction per month from non-BofA ATMs, and 30 free stock and ETF trades per month with a Merrill Edge investment account.

  • Platinum Honors level: Need a combined balance of $100,000. You get a 20% interest rate booster on a Rewards Money Market Savings account, a 75% bonus on eligible credit cards rewards, unlimited free ATM transactions from non-BofA ATMs, and 100 free stock and ETF trades per month with a Merrill Edge investment account.

• Look for cash back deals: Bank of America has BankAmeriDeals that can earn you extra cash back at stores, restaurants, and hotels. All you have to do is sign in to your mobile or online banking, search through the deals, and activate the ones you like. Then when you make a purchase there, use your eligible BofA credit or debit card. You’ll automatically get the cash back activated at the end of the next month.

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