Newest Bank of America Promotions: Best Offers, Coupons and Bonuses June 2020

Consider these offers before you open a Bank of America account.

If you aren’t a current Bank of America customer, now is the time to snag some bonus cash by checking out the bank’s best promotions and offers for June. All you have to do is open a new Bank of America account and meet the requirements.

GOBankingRates survey revealed that many Americans miss out on free money by not researching promotional offers. You don’t want to count yourself among those who pass up valuable opportunities. Instead, discover which Bank of America account is best for you and pocket some extra green in the process.

Here’s a quick look at what you’ll find in this guide to Bank of America bank promotions:

Bank of America Promotions at a Glance

New customers can get Bank of America checking account bonus promos and more. Here are the highlights of June’s Bank of America offers:

Best Bank of America Promotions: June 2020
AccountCash Value of BonusExpiration Date
Advantage SafeBalance Banking$100June 30
Advantage Plus Banking$100June 30
Advantage Relationship Banking$100June 30
Premium Rewards Credit Card$500None
Cash Rewards Credit Card$200None

See More: Newest Checking Account Bonuses and Promotions

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Bank of America bank promotions
Current Bank of America Promotions

If you’re shopping for a new bank, it’s important to choose one that meets your needs and can help you reach your financial goals. Cash-back offers and bonus points are great incentives as long as you meet the criteria for the account and the promotion. Here’s a more in-depth look at current Bank of America bonuses and what you have to do to earn them.

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Best Checking Account Promotions

Bank of America’s June promotions focus primarily on personal checking accounts. Here are the best offers.

Advantage SafeBalance Banking: $100 Bonus

The Bank of America Advantage SafeBalance Banking account is a basic checking option for people who prefer banking online. The account comes with access to Zelle, a cash rewards program and a debit card with $0 fraud liability. Here’s a look at the latest promotion:

  • Cash value: $100
  • Minimum deposit to qualify: $25 plus two direct deposits of $250 or more
  • Expiration date: June 30
  • How to get it: Use the offer code PSR100CIS when you open an account online before the expiration date. Next, set up and receive two qualifying direct deposits of at least $250 within 90 days of opening the account.
  • When you’ll get it: Within 60 days of meeting the requirements
  • Terms and conditions: This offer is only available to new Bank of America customers and those who have not had a Bank of America account within the last six months. Qualifying deposits include salary, pension and Social Security payments you receive regularly.
  • Monthly fee: $4.95 per statement cycle, though this can be waived with enrollment in Preferred Rewards or if you are a student under age 24.
  • Promotion pageAdvantage SafeBalance Banking bonus offer

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Advantage Plus Banking: $100 Bonus

Bank of America’s Advantage Plus Banking checking account offers features similar to the SafeBalance Banking account along with overdraft protection. You can avoid the monthly fee by enrolling in Preferred Rewards or meeting minimum balance requirements. Here’s more on the June promotion :

  • Cash value: $100
  • Minimum deposit to qualify: $100 plus two direct deposits of $250 or more
  • Expiration date: June 30
  • How to get it: Open an account online using the offer code PSR100CIS, then set up and receive the required direct deposits within 90 days of opening the account.
  • When you’ll get it: Within 60 days of meeting the requirements
  • Terms and conditions: This offer is not available to current Bank of America customers. Qualifying direct deposits are regular deposits that you receive from an employer or government agency.
  • Monthly fee: $12, but this is waived if you meet minimum direct deposit or minimum daily balance requirements or enroll in Preferred Rewards.
  • Promotion pageAdvantage Plus Banking bonus offer

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Advantage Relationship Banking: $100 Bonus

The Advantage Relationship Banking checking account is an interest-earning option with additional features like no fees for select accounts. Standard features include overdraft protection, access to Zelle, cash rewards and a $0 liability debit card. Here’s how to get the $100 bonus:

  • Cash value: $100
  • Minimum deposit to qualify: $100 plus two direct deposits of $250 or more
  • Expiration date: June 30
  • How to get it: This bonus is available for new accounts opened online only; use the Bank of America coupon code PSR100CIS.
  • When you’ll get it: Within 60 days after you meet the requirements
  • Terms and conditions: You must set up and receive two qualifying direct deposits of at least $250 within 90 days of opening the account. The deposits must come from an employer or government agency. ATM deposits and other transfers don’t meet the requirements for the promotion.
  • Monthly fee: $25, which is waived if you meet the minimum balance requirements in linked accounts or enroll in Preferred Rewards.
  • Promotion pageAdvantage Relationship Banking bonus offer

More on Checking: How Long Is a Check Good For?

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Best Credit Card Promotions

While there is no current Bank of America savings account bonus, these credit card offers  — which include a rewards card offer — can put some money in your wallet.

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Premium Rewards Credit Card: Bonus Points ($500 Value)

Bank of America’s Premium Rewards credit card gives you up to two points for every dollar spent. You can also get travel statement credits and up to $100 every four years for TSA Precheck or Global Entry. The June bonus gives you 50,000 points once you meet the requirements, which is a $500 value. Here are the details:

  • Cash value: $500
  • Minimum spend to qualify: $3,000
  • Expiration date: None
  • How to get it: Open an account online using priority code NAABPK, then use the card to make at least $3,000 in purchases within 90 days.
  • When you’ll get it: The 50,000-point bonus will be applied to your account within eight to 12 weeks after you meet the spending requirement.
  • Terms and conditions: The bonus offer is available only for new accounts.
  • Annual fee: $95
  • Promotion pagePremium Rewards credit card bonus offer

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Cash Rewards Credit Card: $200 Bonus

With the Bank of America Cash Rewards credit card, you earn up to 3% cash back with no annual fee. The card also comes with a low introductory annual percentage rate for 15 billing cycles. Here’s what you need to know to earn the $200 bonus:

  • Cash value: $200
  • Minimum spend to qualify: $1,000
  • Expiration date: None
  • How to get it: Use priority code NAACH9 when opening the account, then make at least $1,000 in purchases within 90 days.
  • When you’ll get it: Within 12 weeks after you meet the purchase criteria
  • Terms and conditions: Available for new credit card accounts only; balance transfers, fees and adjustments to the account don’t qualify as purchases for the bonus.
  • Annual fee: None
  • Promotion pageCash Rewards credit card bonus offer

See Next: Best Cash-Back Credit Cards

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How To Open a Bank of America Account

There are three simple ways to open a Bank of America account:

  • Apply online for a credit card or a checking, savings or business account.
  • Call the Bank of America customer service number that best fits your needs; use the “Contact Us” link on the homepage for a list of options.
  • Visit any Bank of America branch, but be aware that some bonus offers are only available if you open an account online.

Although there is no advertised Bank of America business account bonus, its business accounts are worth considering due to valuable features, including automatic alerts and online bill pay.

Read Next: Here Are the Banks Providing Coronavirus Relief to Customers Suffering From the Financial Effects of the Pandemic

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Are Bank of America Promotions Right for You?

If you like the idea of banking with a large financial institution that offers a national network of branches and ATMs and a full lineup of online and mobile banking tools, Bank of America’s promotions might be worth checking out. You can earn money and points simply by opening new accounts and meeting the transaction requirements. You can also avoid the monthly checking account fees by enrolling in the Preferred Rewards program.

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Information on promotions is accurate as of May 20, 2020. Additional requirements may apply. Offers and terms are subject to change. 

This content is not provided by Bank of America. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by Bank of America.

This article has been updated with additional reporting since its original publication.

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About the Author

Jared Nigro is from Pittsburgh, which is obvious by the way he gravitates toward cheese at parties. He is a comedy writer from The Groundlings Sunday Company, Upright Citizens Brigade and has his own digital show on Comedy Central called “Broken People.” When he isn’t being funny, he’s reading books on debt and finance and listening to his favorite finance podcast, ChooseFI.