Bank of America is paying up to $500 to open a new personal checking account, and the offer was just extended into 2027. The bonus is tiered, so how much you earn depends entirely on how much direct deposit you route to the new account in the first 90 days. Get the tier math right and this is an easy few hundred dollars. Get it wrong and you could do all the work for just $100.
Offer details checked October 19, 2026. Bank promotions change often, so confirm the current terms on Bank of America’s offer page before you apply. See our Advertiser Disclosure for how we work with partners.
Bank of America Checking Bonus at a Glance
| Detail | What you need to know |
|---|---|
| Maximum bonus | $500 |
| Eligible accounts | Advantage SafeBalance Banking, Advantage Plus Banking, Advantage Relationship Banking |
| Requirement | Qualifying direct deposits within 90 days of opening |
| How to apply | Online only, through the offer page |
| Payout timing | Within 60 days after you qualify |
| Monthly fee (Advantage Plus) | $12, waivable |
| Offer ends | Reported extended to January 31, 2027 (see note below) |
| Who qualifies | No Bank of America personal checking in the last 12 months |
The Three Bank of America Bonus Tiers Compared
Your bonus is set by the total of your qualifying direct deposits during the first 90 days. Here is how each tier works out, with the “return” column showing how many cents you earn per dollar of direct deposit you route to the account.
| Tier | Direct deposits needed | Bonus | Return on deposits |
|---|---|---|---|
| Tier 1 | $2,000 | $100 | 5% |
| Tier 2 | $5,000 | $300 | 6% |
| Tier 3 | $10,000 | $500 | 5% |
Notice something unusual here. On most tiered bank bonuses the lowest tier is the most efficient. With Bank of America, the middle tier is. Going from $2,000 to $5,000 in direct deposits triples your bonus, adding $200 for an extra $3,000 of deposits. Going from $5,000 to $10,000 adds another $200, but it takes $5,000 more to get there.
The practical takeaway: if you can’t comfortably reach $5,000, it may be worth waiting for a better offer instead of settling for $100.
[Image suggestion: A paycheck stub next to a calculator on a desk. Alt text: “Bank of America checking bonus tiers $100, $300 and $500”]
How to Earn the Bank of America $500 Checking Bonus
- Start from the offer page. Bank of America says this offer is available online only, and may not apply if you navigate away, open the account in a financial center, or call the bank. Open the account in one session from the offer page.
- Choose an eligible account. Advantage SafeBalance, Advantage Plus, and Advantage Relationship all qualify. SafeBalance for Family Banking, fiduciary accounts like trusts, and business accounts do not.
- Set up direct deposit from your employer, pension, or Social Security to the new account.
- Reach your target within 90 days: $2,000, $5,000, or $10,000 in total qualifying direct deposits.
- Keep the account open and in good standing until the bonus posts, which Bank of America says happens within 60 days of meeting the requirements.
A note on the deadline: reporting in early October 2026 says the offer was extended to January 31, 2027, but some copies of the fine print still show an older date. Read the terms displayed when you open the account, since those are the ones that bind you.
What Counts as Direct Deposit for Bank of America
[Image suggestion: A phone showing a banking app’s direct deposit screen. Alt text: “What counts as direct deposit for the Bank of America checking bonus”]
Bank of America defines a qualifying direct deposit as regular monthly income, such as salary, pension, or Social Security, sent by your employer or another payer using the account and routing numbers you give them.
The bank’s terms say these do not count:
- Teller deposits and ATM deposits or transfers
- Wire transfers
- Debit card transfers
- Online and Mobile Banking transfers or deposits
- Transfers from another bank, a brokerage, or a Merrill investment account
In plain terms, you need real payroll or benefits income landing in the account. Shuffling money in from your own savings won’t do it.
Who Is Eligible for the Bank of America Checking Bonus
The main rule is simple: you can’t have owned or co-owned a Bank of America personal checking account in the last 12 months. The offer is limited to one bonus per account and per customer, and it can’t be combined with other checking offers.
Opening the account is generally reported as a soft pull, provided you opt out of overdraft protection during the application. Bank of America also won’t let you fund the account with a credit card, though a debit card funding option of up to $250 has been reported.
One more detail worth knowing: Bank of America has also sent some people a targeted $1,000 version of this offer. It only works through a personalized link, so if you have received one by mail or email, compare it with this public offer before applying.
How to Avoid the $12 Monthly Fee
Most people opening for the bonus pick Advantage Plus Banking. It carries a $12 monthly maintenance fee, which you avoid in any statement cycle by meeting one of these:
- At least one qualifying direct deposit of $250 or more
- A minimum daily balance of $1,500
While you’re working toward the bonus, the direct deposit option takes care of itself. The question is what happens after you redirect your paycheck elsewhere. If you plan to keep the account open for six months or more, which is sensible, budget either for a small recurring direct deposit or for the $1,500 balance.
Which Bank of America Bonus Tier Should You Aim For?
Work backward from your take-home pay. Over 90 days, most people get paid about six times on a biweekly or semi-monthly schedule, or three times on a monthly schedule.
| Pay schedule | Per paycheck for $5,000 | Per paycheck for $10,000 |
|---|---|---|
| Biweekly or semi-monthly (6 paydays) | About $834 | About $1,667 |
| Monthly (3 paydays) | About $1,667 | About $3,334 |
Most payroll systems let you split direct deposit by a fixed dollar amount or a percentage, so you can send exactly what you need to Bank of America and keep the rest flowing to your main bank.
Can You Stack This With the Chase $900 Bonus?
Yes, and this is where the planning gets interesting. Both the Chase checking bonus of up to $900 and this Bank of America offer use a 90-day direct deposit window with a top tier at $10,000. Each bank only counts the deposits that land in its own account, though, so you can’t use the same paycheck twice.
If your take-home pay over three months is around $15,000, one approach is to send $10,000 to Chase for the $900 tier and $5,000 to Bank of America for the $300 tier, for $1,200 in total. That beats chasing the top tier at a single bank. If you’d rather stagger them, open one account now and the other once the first bonus posts.
[Image suggestion: A couple reviewing household finances at a kitchen table. Alt text: “Splitting direct deposits between two bank bonuses”]
7 Tips to Make Sure Your Bank of America Bonus Posts
- Open the account in one sitting from the offer page, since leaving the page can drop the offer.
- Screenshot the terms shown at application, including the expiration date.
- Opt out of overdraft protection if you want to keep the application a soft pull.
- Set your payroll split on day one so your first paycheck counts. A late start can cost you a whole pay cycle.
- Check your progress at day 60. That leaves time to fix a deposit that didn’t post as expected.
- Leave the account open well after payout. The account must be open and in good standing when the bonus is paid, and closing quickly can sour your relationship with the bank.
- Plan for taxes. Bank of America says the bonus may be taxable income and may be reported on an IRS Form 1099.
How This Compares to Other Bank Bonuses Right Now
At $500, this sits in the upper half of the big-bank checking offers we’re tracking. The BMO checking bonus of up to $600 pays a little more but is limited to certain states, and the U.S. Bank Smartly checking bonus of up to $450 runs through November 10, 2026. If you have savings to park instead of a paycheck to redirect, the Capital One savings bonus of up to $1,500 needs no direct deposit at all.
For points collectors, bank bonuses are a quiet way to fund the cash side of award travel. A $300 or $500 bonus covers the taxes and fees on several award tickets, which are often the only real out-of-pocket cost of a trip booked with miles.
Takeaway
The Bank of America checking bonus pays $100, $300, or $500 depending on whether you route $2,000, $5,000, or $10,000 in direct deposits to a new account within 90 days. The $300 tier is the most efficient, the $500 tier pays the most, and the $100 tier is rarely worth the effort on its own. Apply online through the offer page, set your payroll split before your first payday, and confirm the expiration date in the terms you see when you open the account.
