Bank of America Business Checking Bonus, Get $500 with $20K Deposit

Bank of America business checking bonus

Bank of America Business Checking Bonus, Get $500 with $20K Deposit

Bank of America has a new Business Checking account bonus of $500. You need to deposit $20K in the account in order to earn the bonus. The offer is available publicly online and in-branch, and also for everyone nationwide. Check the details of this Bank of America business checking bonus below.


Here’s how you can earn your $500 bonus:

  1. Open a new Business Advantage Relationship Banking or Business Advantage Fundamentals Banking account by July 31, 2022: AND
  2. Make Qualifying Deposits of $20,000 or more in new money into your new Business Advantage Banking account within thirty (30) days of account opening; AND
  3. Maintain an average balance of $20,000 during the Maintenance Period (begins thirty-one (31) days after account opening and ends ninety (90) calendar days after account opening) into the new Business Advantage Banking account.


    • New customers only; you are not eligible for this offer if you were an owner or signer on a Bank of America Business Advantage Banking account within the last twelve (12) months.
    • Offer is limited to one per business customer, regardless of the number of businesses owned or operated by the customer.
    • 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 July 31, 2022.


Business Advantage Fundamentals Checking is the best option. It comes with a $16 monthly fee that can be waived with one of these options:

  • Spend $250 in net new purchases on a business debit or credit card
  • Average monthly balance of $5,000 or more
  • Become a member of Preferred Rewards for Business

There’s no early closing fee.

Guru’s Wrap-up

This is a good offer if you have the $20K to deposit in the new account and can keep it there for just a little over two months. You can keep the account fee free with a $5,000 balance which you will have in there anyway to earn the bonus. After day 91 you can just leave $5K in the account and wait for the bonus to post. There’s no early closing fee, so once you get the bonus, you can close the account if you choose to.

If this bonus is not for you, then you can check our full list of available bank bonuses. And, if you’re new to bank account bonuses, you can learn more about churning bank accounts here.

Offer Details

  • Promo Code: SGDDIG
  • Account Type: Business Advantage Fundamentals Checking
  • Availability: Nationwide
  • Inquiry Type: Soft pull
  • Credit Card Funding: No
  • Direct Deposit Requirement: No
  • Other requirements: $20K-$50K deposit and 5 electronic payments
  • Monthly Fee: $18 (waived with $5K balance or $250 in purchases)
  • Early Closing Fee: None
  • Expiration Date: 7/31/22

HT: Doctor of Credit

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4 thoughts on “Bank of America Business Checking Bonus, Get $500 with $20K Deposit”

    1. Maybe they’re confusing it with the previous $750 bonus. You can do this offer online too, and there’s no targeted language in the terms.

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