DOC Compass — Offers, decoded

Update 10/5/26: This has been extended until January 31, 2027. There is also a $1,000 bonus but that is only available via targeted link.

Update 9/2/26: Yesterday the old link stopped working, but a new link has been found. Hat tip to reader Kyle

Offer extended to September 30th 2026

Extended until May 31 2026

Offer at a glance

Maximum bonus amount: $500
Availability: Nationwide
Direct deposit required: $2,000-$10,000 within 90 days
Additional requirements: None
Additional requirements: None
Hard/soft pull: Soft, as long as you opt out of overdraft protection
ChexSystems: Mixed datapoint, most say they don’t pull
Credit card funding: None, but you can fund with a debit card up to $250
Monthly fees: $12 avoidable
Early account termination fee: None
Household limit: None listed
Expiration date: January 31, 2026

The Offer

Direct link to offer

Bank of America is offering a $500 bonus when you open a new checking account. The bonus you receive depends on the total direct deposits you receive to your account within the first 90 days.
- $100 when you receive $2,000 in total direct deposits
- $300 when you receive $5,000 in total direct deposits
- $500 when you receive $10,000+ in total direct deposits

The Fine Print

This offer is available online only and may not be available if you leave this page, visit bankofamerica.com, visit a Bank of America financial center, or if you call the bank.
Offer is limited to individuals who have not owned or co-owned a Bank of America personal checking account within the last twelve (12) months. Fiduciary accounts (e.g., trusts), Bank of America Advantage SafeBalance Banking® for Family Banking accounts, and business accounts are not eligible for this offer. Offer cannot be combined with any other checking offer and is limited to one bonus per account and per customer. Offer expires on January 31, 2026. Bank of America may change or discontinue this offer at any time before this date without notice.
You may receive different Bank of America promotional checking offers by various methods, i.e., mail, in person or email/online. These promotional offers may have different terms based on how Bank of America introduces them.
Requirements to Receive a Checking Bonus:
- Open a new eligible personal checking account online through this offer’s webpage by January 31, 2026, to be enrolled in this offer. If you open your account by any other means, you may not be eligible to earn the checking bonus.
  Bank of America Advantage SafeBalance Banking®, Bank of America Advantage Plus Banking®, Bank of America Advantage Relationship Banking® accounts are eligible for this offer. Bank of America Advantage SafeBalance Banking® for Family Banking accounts are not eligible for this offer.
- Set up and receive Qualifying Direct Deposits into that eligible personal checking account within ninety (90) days of account opening (“Deposit Period”).
A “Qualifying Direct Deposit” is a direct deposit of regular monthly income – such as your salary, pension or Social Security benefits, which are made by your employer or other payer – using account and routing numbers that you provide to them. Examples of non-qualifying transfers and deposits include the following: teller deposits, wire transfers, debit card transfers, ATM transfers or deposits, Online and Mobile Banking transfers or deposits, or transfers from a bank or brokerage account or Merrill investment account.
After you satisfy all of the requirements, we will attempt to deposit the earned bonus directly into your new eligible personal checking account within sixty (60) days. The new eligible personal checking account must be open and in good standing up to and including the date any earned bonus is paid.
Your receipt of any bonus is subject to validation that you have provided all the information we require in connection with maintaining the account. This includes information needed to identify each account owner and to report the bonus to the Internal Revenue Service (IRS), including a validly completed IRS Form W-9 or Form W-8 (as applicable). The value of this bonus may constitute taxable income to you. To the extent required by law, Bank of America may withhold tax or other amounts from the payment. Bank of America may issue an IRS Form 1099 (or other appropriate form) to you that reflects the value of such bonus. Please consult your tax advisor, as neither Bank of America, its affiliates, nor their employees provide tax advice.
All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

Advantage Plus checking is the easiest to keep fee free. This has a $12 monthly fee:

Have at least one qualifying direct deposit of $250 or more or
Maintain a minimum daily balance of $1,500 in your account

SafeBalance is easier to keep fee free, but not eligible for the current $500 bonus.

Early Account Termination Fee

This account has no early account termination fee.

Our Verdict

Previously there was a $300 bonus that required $2,000 in direct deposits. This new offer is only better if you can do the $500 bonus that requires $10,000 in direct deposits. I do think this bonus is worth doing especially there are many methods to manipulate the direct deposit requirement. We will add this to our list of the best bank account bonuses.

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