Bank of America is offering up to $500 to new customers: the direct deposit needed for each bonus and the deadline to get it

Bank of America has a current promotion that pays a bonus of up to $500 to people who open a new checking account and receive direct deposit.

Tax Debt.The IRS final notice that can lead to the seizure of your paycheck and bank account: What the LT11 letter is and who receives it

abre en nueva pestaña

It is not a fixed amount: the bonus is tiered and depends on how much money is deposited by direct deposit in the first few months.

Bank of America is offering up to $500 to open a new account

The bonus is calculated in tiers, based on the total amount of direct deposits the person receives within 90 days of opening the account. One key detail: these are ranges, not amounts that apply from that point on. Here are the levels:

• Between $2,000 and $4,999 in direct deposit: a $100 bonus.
• Between $5,000 and $9,999: a $300 bonus.
• $10,000 or more: a $500 bonus.

In other words, to qualify for the maximum $500, you must receive at least $10,000 in direct deposit during that 90-day period.

What counts as direct deposit

Not every incoming payment qualifies: direct deposits of regular income count, such as a salary, pension, or Social Security payments sent electronically by an employer or payer.

Transfers between accounts, wire transfers, and deposits made at an ATM or teller window do not count.

Who is eligible?

The promotion has narrow eligibility requirements:

• It is only for new checking customers: you must not have had, or been a co-owner of, a personal Bank of America checking account in the past 12 months.
• It is limited to one bonus per account and per customer, and it cannot be combined with other checking account promotions.
• You must enroll in the offer through the promotion page or with a Bank of America or Merrill advisor when opening the account.

Once the requirements are met and the 90-day deposit period ends, Bank of America deposits the bonus within the next 60 days. To receive it, the account must remain open and in good standing through the payment date.

How long the offer is available

The offer has a deadline: you must open the eligible account by January 31, 2027. The bank also says it may change or end the promotion before then, without notice.