Best Bank of America Promotions and Offers: December 2019

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 qualifying for some of December’s best promotions and offers. All you have to do is open a new Bank of America account and meet the promotion’s specific requirements.

A GOBankingRates survey revealed that many Americans miss out on free money from financial institutions. 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 out in this guide to Bank of America’s promotions:

Bank of America Promotions at a Glance

To help you get an idea of what Bank of America currently has to offer before you dive into the specifics, here are the highlights:

Best Bank of America Promotions: December 2019 
AccountCash Value of BonusExpiration DateMinimum Deposit To Qualify
Bank of America Advantage SafeBalance Banking$100Dec. 31$25
Bank of America Advantage Plus Banking$100Dec. 31$100
Bank of America Advantage Relationship Banking$100Dec. 31$100
Business Fundamentals Checking$300-$600Open account by Dec. 31 to receive $300 bonus; open Business Advantage Rewards credit card attached to this account within 90 days to receive additional $300 bonus$5,000
Business Advantage Checking$300-$600Open account by Dec. 31 to receive $300 bonus; open Business Advantage Rewards credit card attached to this account within 90 days to receive additional $300 bonus$5,000

Related: Best Bank Promotions and Bonuses Available Now

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Current Bank of America Promotions

Now that you have a basic understanding of what Bank of America is currently offering, it’s time to dive deeper. Although cash bonuses are nice, you should consider them a cherry on top. It’s more important to choose an account that will meet your financial needs. Here’s what you need to know about each offer before creating an account with Bank of America.

Advantage SafeBalance Banking: $100 Bonus

The Bank of America Advantage SafeBalance Banking account offers account holders access to Zelle, cash-back deals with BankAmeriDeals, and a debit card with a $0 liability guarantee.

  • Minimum deposit to qualify: $25
  • Expiration date: Dec. 31
  • How to get it: This bonus is only offered if you open the checking account online; the offer is not available if you visit a Bank of America branch to open your account.
  • When you’ll get it: The bonus will be paid out within 60 days after you meet all of the qualifying requirements.
  • Terms and conditions: A $25 opening deposit is required. When you open your Bank of America Advantage SafeBalance Banking account, set up a minimum of two qualifying direct deposits. Each deposit must be $250 or more and be made within the first 90 days of opening your account.
  • Monthly fee: $4.95 per statement cycle
  • Promotion page: Bank of America Advantage SafeBalance Banking $100 bonus offer

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Advantage Plus Banking: $100 Bonus

Like Bank of America Advantage SafeBalance Banking, this checking account gives customers access to Zelle, a debit card with a $0 liability guarantee, and cash-back deals with BankAmeriDeals. Plus, the account has the option to add overdraft protection.

  • Minimum deposit to qualify: $100
  • Expiration date: Dec. 31
  • How to get it: You must open this checking account online; the offer is not available if you open the account at a Bank of America branch.
  • When you’ll get it: The payout of the bonus will occur within 60 days after you meet all of the qualifying requirements.
  • Terms and conditions:  When you open your Bank of America Advantage Plus Banking account, set up a minimum of two qualifying direct deposits. Each deposit must be $250 or more and be made within the first 90 days of account opening.
  • Monthly fee: $12 per statement cycle
  • Promotion page: Bank of America Advantage Plus Banking $100 bonus offer

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Advantage Relationship Banking: $100 Bonus

Bank of America Advantage Relationship Banking has an option to add overdraft protection. The account earns interest and offers access to Zelle, cash-back deals with BankAmeriDeals, and a debit card with a $0 liability guarantee.

  • Minimum deposit to qualify: $100
  • Expiration date: Dec. 31
  • How to get it: Open this checking account online to receive the bonus; the bonus offer is not available if you open your account at a Bank of America branch.
  • When you’ll get it: The bonus will be paid out within 60 days after you meet all of the qualifying requirements.
  • Terms and conditions: When you open your Bank of America Advantage Relationship Banking account, set up a minimum of two qualifying direct deposits. Each deposit must be $250 or more and be made within the first 90 days of account opening.
  • Monthly fee: $25 per statement cycle
  • Promotion page: Bank of America Advantage Relationship Banking $100 bonus offer

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Business Fundamentals Checking: $300-$600 Bonus

Bank of America’s Business Fundamentals Checking features a business savings account, mobile banking, and online banking with account alerts.

  • Minimum deposit to qualify: For the account bonus, deposit $5,000 in “new money,” which Bank of America defines as funds from a source outside of Bank of America
  • Expiration date: Dec. 31
  • How to get it: The offer is available by invitation only. This is a targeted bonus, meaning you are not eligible unless you are contacted by a representative or receive direct communication from Bank of America.
  • When you’ll get it: You’ll receive the $300 account bonus within 90 days of the end of your qualifying period and the $300 credit for your card bonus 10-12 weeks after qualifying transactions post.
  • Terms and conditions:
    • To qualify for the $300 account bonus, deposit $5,000 in new money and make five qualifying electronic payments within the first 90 days of opening the account.
    • To qualify for the $300 Business Advantage Cash Rewards credit card bonus, open a new small business credit card and make at least $3,000 in qualifying transactions — excluding transaction fees, returns or adjustments — within the first 90 days of account opening.
  • Monthly fee: $16 per statement cycle
  • Promotion page: Business Fundamentals Checking $300-$600 bonus offer

Also See: Your Guide to Bank of America SWIFT Codes 

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Business Advantage Checking: $300-$600 Bonus

Bank of America’s Business Advantage Checking features QuickBooks integration and an additional business checking account.

  • Minimum deposit to qualify: $5,000 in new money for the account bonus
  • Expiration date: Dec. 31
  • How to get it: The offer is available by invitation only. You are not eligible unless you are contacted by a representative or receive direct communication from Bank of America.
  • When you’ll get it: Expect the $300 account bonus within 90 days of the end of your qualifying period and the $300 credit for your card bonus 10-12 weeks after the qualifying transactions post.
  • Terms and conditions:
    • To qualify for the $300 account bonus, deposit $5,000 in new money and make five qualifying electronic payments within the first 90 days.
    • To qualify for the $300 Business Advantage Cash Rewards credit card bonus, open a new small business credit card and make at least $3,000 in qualifying transactions within the first 90 days of opening the account.
  • Monthly fee: $29.95 per statement cycle
  • Promotion page: Business Advantage Checking $300-$600 bonus offer

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How To Open a Bank of America Account

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

See: Bank of America Savings Account Review

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Are Bank of America Promotions Right for You?

If you like the idea of banking with a traditional brick-and-mortar financial institution and the other advantages that Bank of America has to offer, it might be time to open a new account and take advantage of these promotions. Every account with a bonus offer has a monthly service fee, however, and racking up fees over time can counteract the benefit of earning a bonus. Luckily, if you meet specific qualifications, Bank of America’s monthly service fees are avoidable. If you earn a bonus and can manage to avoid monthly fees, you can consider the rewards worth the effort.

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More From GOBankingRates

Information on promotions is accurate as of Nov. 22, 2019. 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.

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.