[Expired] Bank of America $150 Checking Bonus + $25 Per Referral

Deal has expired, view the best current checking bonuses by clicking here.

Update: I received my referral finally. It took about 9 days from giving my e-mail to receiving the code. I’m reposting so people know that referrals are coming through successfully, just takes a bit of time.

Offer at a glance

• Maximum bonus amount: $150
• Availability: Nationwide
• Direct deposit required: Two direct deposits of $500 each within 90 days
• Additional requirements: None
• Hard/soft pull: Soft, as long as you opt out of overdraft protection
• ChexSystems: Yes
• Credit card funding: None, but you can fund with a debit card up to $250
• Monthly fees: $12-$25, waive-able
• Early account termination fee: None
• Household limit: None listed
• Expiration date:August 31st, 2018

The Offer

No direct link, people who can refer should have received an e-mail with the following subject line ‘Make up to 10 successful referrals, get up to $250’

• Bank of America has a special referral bonus for Bank of America checking accounts. Existing account holders that are targeted can refer up to 10 friends & family each and receive a bonus of $25 per referral that meets the requirements. Person being referred will receive a bonus of $150 when the following requirements are met:
  • Open a new Bank of America Core Checking OR Bank of America Interest Checking account by October 31st, 2018 in a financial center, online, or via phone using the unique offer code
  • Set up and receive at least two qualifying direct deposits of $500 or more into the new account within 90 days of account opening

The Fine Print

• Friends and family members who already have a Bank of America checking account are not eligible to receive this special referral offer
• This offer expires on August 31st, 2018
• Using the Referral Portal, submit the full name and valid e-mail address for each eligible friend and/or family member you’d like to refer to Bank of America (up to a maximum of thirty-six names and e-mail addresses). Referrals must be submitted on or before the offer expiration date
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Early Account Termination Fee – None

This account has no early account termination fee.

Core Checking

he Core Checking account has a $12 monthly fee, which can be waived in any of the following ways:

• Make at least one qualifying Direct Deposit of $250 or more, OR
• Maintain a minimum daily balance of $1,500 or more, OR
• Be a student under age 23 and enrolled in high school, college, or vocational program, OR
• Enroll in the Preferred Rewards program and qualify for the Gold, Platinum, or Platinum Honors tier (first 4 checking accounts only).

Interest Checking

The Interest Checking account has a $25 monthly fee, which can be waived in either of the following ways:

• Maintain combined balances of $10,000 or more each statement cycle, OR
• Enroll in the Preferred Rewards program and qualify for the Gold, Platinum or Platinum Honors tier (first 4 checking accounts only).
• “Combined balances” include:
  • Average daily balances for the statement cycle in eligible linked checking, savings and money market savings accounts, AND
  • The current balances, as of the end of the Interest Checking statement cycle in linked personal CDs and IRAs, AND
  • The current balance, as of two business days before the end of the Interest Checking statement cycle, in your eligible linked Merrill Edge and Merrill Lynch investment accounts.

Our Verdict

There is normally a public bonus for $100 with the same requirements and some people get targeted for a $300 offer. To be referred you need to provide your e-mail address and also your full name, referrals should appear within 7-14 days. rather than putting your full name in the comments maybe just put your e-mail in and then they contact you for your full name? Better yet would be people willing to refer putting their e-mails in and then those wanting to refer can just contact them directly. They offered this same $150/$25 referral bonus last year as well.

Please do not offer or ask for anything in exchange for using a referral. It’s absolutely impossible to police and just wastes a lot of my time.  I’ll add this to the best checking bonuses.

Reader Steve who let us know about this offer can refer another 35 people.  It seems like you get credit for the first 10 people you refer ($250) but can refer up to 36. So maybe we should try to get 10 referrals per person.

Useful posts regarding bank bonuses:

• A Beginners Guide To Bank Account Bonuses
• Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
• PSA: Don’t Call The Bank
• Introduction To ChexSystems
• Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
• What Banks & Credit Unions Do/Don’t Pull ChexSystems?
• How To Use Our Direct Deposit Page For Bank Bonuses Page
• Common Bank Bonus Misconceptions + Why You Should Give Them A Go
• How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
• Affiliate Links & Bank Bonuses – We Won’t Be Using Them
• Complete List Of Ways To Close Bank Accounts At Each Bank
• Banks That Allow/Don’t Allow Out Of State Checking Applications
• Bank Bonus Posting Times