Update 10/5/2019 – This bonus is no longer available. See the current list of bank bonuses.
Bank of America has a great offer for business owners. You can get as much as $2,500 in bonuses when you go in branch and ask about the offer. There’s no public link for this, so the only way to get it is to talk to a small business specialist. You also need to to deposit $50K in the account and keep it there for 3 months
- Receive a $1,000 bonus when opening a Business Advantage checking account plus one of the Select Business Account listed below. You also must deposit $50,000 of outside funds into the checking account within 90 days
- Receive and additional $500 for opening each of the other three accounts listed below; open three for an additional $1,500 bonus ($2,500 total bonus)
These are the four Select Business Account that you can choose from to go along with the Business Advantage checking account:
- Small Business Credit Card: Apply, be approved and spend at least $2,000 on your small business credit card within 90 days of opening your Business Advantage checking account.
- Business Term Loan: Apply, be approved for and and open a new term loan within 90 days of opening your business advantage checking account.
- Business Line of Credit: Apply, be approved for and and open a new line of credit within 90 days of opening your business advantage checking account.
- Bank of America Merchant Services Account: Open and activate a merchant services account and settle $10,000 of funds into your Business Advantage account within 90 days of opening it.
- Offer only available to customers who receive this offer via a direct communication from a Bank of America small business specialist
- You must not be an owner or signer on a Bank of America business checking account that is open or that was closed within the last six (6) months.
The Business Advantage checking account has a monthly fee of $29.95 which is waived for the first three months. After that you have these options to waive it:
- $15,000 average monthly balance
- $35,000 combined average monthly balance of linked business accounts
- Spend $2,500 per month in new purchases using a linked Bank of America business credit card (be sure the credit card is linked to the bank to get the fee waiver; people have had problems with this in the past)
- Actively use Bank of America Merchant Services or Payroll Services by Intuit® or Remote Deposit Online service
This is an incredible offer, but obviously it’s not an offer for everyone. You need to deposit $50K into the checking account and keep it for 90 days. You also need to have a branch nearby.
The maximum bonus that you can receive is $2,500, but you have to open a few different account to get it. The easiest part of it is a $1,000 bonus for opening the Business Advantage checking account and a BofA credit card. Credit card must be linked to business checking account. You would also get the credit card sign up bonus, separately from this bonus, so that should add up to at least $1,200.
Then you can try opening the other three accounts if they make sense for you, to get $500 bonus for each one of them.