Update 11/10/22: Deal is being sent out again via email ([email protected]). (Hat tip to reader Miles and Gerald)
The Offer
Direct link to offer (you need to have been named in the offer, e.g have received communication from Bank of America)
- Bank of America is offering a $10 bonus when you send money using Zelle
The Fine Print
- TO QUALIFY for this $10 Zelle® bonus offer complete these steps on or before June 16, 2019.
- Log into the Bank of America mobile app and tap ‘Transfer/Send’,
- Click “begin set up” to enroll with Zelle. Once you have enrolled with Zelle,
- SEND 2 payments using Zelle in the Bank of America mobile app on or before June 16, 2019.
Our Verdict
Shame it’s targeted as it’s a fairly easy bonus to meet the requirements for. We are seeing more and more of these Zelle bonuses recently, for a full overview of Zelle read this post.
The current link* is: https://promotions.bankofamerica.com/offers/zelle-bonus
The updated terms state that you can either send or receive:
Use Zelle® to send or receive money 2 times in our Mobile Banking app by January 31, 2023.
* The complete link looks like this:
https://promotions.bankofamerica.com/offers/zelle-bonus?cm_mmc=OLB-MobileBanking-_-email-_-XXXXXXXXXX_09999_00_Active_offer_top_cta-_-09999_00_DDA_Mobile_Incent_Initial
P2 sent money on November 11 and received $7.60 on December 2
BANK OF AMERICA DES:PAYMENT ID:XXXXXXXXXXNNNNN INDN:NAME REDACTED CO ID:XXXXXNNNNN PPD
For some reason they deducted tax from the payment and there was no other notification
I’ve read about the Zelle scam where the scammers have you send a “test” transfer to yourself, but in reality they’ve already registered your email or cell # for themselves so when you fall for this you lose your money.
I figured better safe than sorry so I’ve registered my phone numbers and email addresses with various accounts so they can’t be claimed by anyone else. I doubt I’d get scammed on this, but it’s possible the crooks could target family members and get them to send funds to “my” Zelle account. Or maybe I’m just being paranoid.
I wish BoA would target me for this. It would be an easy ten bucks.
They can still switch your number to a different account. But since your number is now linked, you should at least get a notification it gets unlinked if they do hack your number. However there is nothing stopping them if they spoofed your number.
True, but I’m hoping the notification will at least give me a heads-up and time to make adjustments.
If anyone feels like using Zelle is a good idea, please google Clark Howard and Zelle.
I’m a Clark fan, but I never understood his big issue: so long as you only pay people you know and have properly saved in your Zelle contacts his whole problem evaporates.
I think the problem arises if someone hacks your bank account and transfers the money out using Zelle. If they used normal ACH the bank will make you whole but if they stole your money through Zelle the bank says it’s not my problem. Kiplinger’s just ran a report that less than 10% of fraud/hack cases reported to banks were reimbursed if they were through Zelle. I may be intertwining fraud/scams vs. actual hacks though, so take that with a grain of salt!
I just don’t think that’s accurate: I believe the cases where Zelle doesn’t stand behind it is when the person gets duped and send on their own volition. (I might be wrong, haven’t really looked at all of the stories, but that’s my impression)
Can I use Zelle to pay for another bank account of myself in another bank?
It should work, just make sure your email and/or phone is different on your 2nd Zelle account to avoid any issues.
Yes, that’s what I did. $10 bonus comes a few weeks later.
Can you pay yourself twice to meet the 2 payments requirement?
Yes
Yes, I have done this myself in place of a traditional ACH transfer; just enroll under different emails or phone numbers for the different banks
f$#@ boa. Card is back in the box. #Dead
So I’m guessing that if I already have Zelle set up on my account that I’m not going to get the bonus?
I received this targeted email, I had done similar offer ($5) long time ago and I have not changed my Zelle settings ever since.
Edit: didn’t notice the date, keep it for DP.
Tried. Let’s see what happens next.
Not really related but I changed my BofA email address a while back but for some reason these kind of “promotional” emails still go to my old email address. Anybody had this issue/know what to do to fix it?
Thanks!
I have the same problem as well. I am getting it at both old and new email addresses. I tried calling CS multiple times and every time they say they fixed it but it still keeps coming. Let me know if you find out.
Found the $10 link here:
https://promo.bankofamerica.com/zelle-incentive/?type=H&cm_mmc=OLB-Mobile%20Banking-_-email-_-OM24EM01KB_activate_offer_cta1-_-04443_zelle_incentive_10for2_consumer
Thank you.
Tried. I guess there is no cost if I don’t get the bonus. So why not.