Update 3/23/26: More people targeted. Subject is ‘Hi name, you have been selected for this $100 cash offer’
Update 10/9/22: More people are seeing this email within the past day
Offer at a glance
Offers
Direct link to the offer (Note that this is targeted; check your email for the subject: Get a $100 cash offer and a jump start on your next goal)
- Get a $100 cash bonus when you open a new Bank of America Advantage savings account by November 30, 2022 and deposit $1,000 or more in New Money within 30 days.
Must maintain $1,000 for maintenance period. The Maintenance Period begins thirty-one (31) days after you opened the account and ends ninety (90) days after you opened the account.
Fine Press
- Offer limited to individuals who receive the offer through a direct communication from Bank of America and have not owned or co-owned a Bank of America personal savings account within the past twelve (12) months.
- Fiduciary accounts (eg trusts), business accounts, Certificates of Deposits (CDs) and Individual Retirement Accounts (IRAs) are not eligible for this offer.
- The offer cannot be combined with any other savings offer and is limited to one bonus per account per customer.
- Offer expires November 30, 2022. Bank of America may change or discontinue this offer at any time prior to this date without notice.
- Requirements to get the $100 savings bonus:
- Register for this offer through a Bank of America associate OR by clicking the register button or link in a direct communication from Bank of America.
- Open a new Bank of America Advantage Savings account by November 30, 2022.
- Deposit $1,000 or more in new money directly into that Bank of America Advantage Savings Account within thirty (30) days of account opening (“Deposit Period”).
- Maintain a daily balance of $1,000 or more in that Bank of America Savings Advantage account during the maintenance period. The “Maintenance Period” begins thirty-one (31) days after you opened the account and ends ninety (90) days after you opened the account.
- “New Money” is money not currently or previously held in a Bank of America or Merrill investment account. Transfer limits may apply.
- You will not be eligible for the bonus if new money deposits into your account are below $1,000 on the last day of the deposit period or your daily account balance falls below $1,000 on any day during the maintenance period.
- Once you meet all the requirements, we will try to deposit the earned bonus directly into your personal savings account within sixty (60) days. The Personal Savings Account must be open and in good standing up to and including the payment date of any bonus earned.
- To receive your bonus you must provide all the information we require in connection with opening the account. This includes the information we require to identify each account owner, 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 payment. Bank of America may issue you an IRS Form 1099 (or other appropriate form) that reflects the value of the bonus. Please consult your own tax advisor, as neither Bank of America, its subsidiaries, nor their employees provide tax advice.
- The Bank of America Advantage Savings Account requires a minimum opening deposit of $100 and pays the following Annual Percentage Yields (APY): less than $2,500, 0.01%; $2,500 and up, 0.01%. APYs are accurate as of 07/01/2022 and are based on a California resident account. For today’s rates, select the applicable account at bankofamerica.com/depositrates. Fees may change at any time without notice, before or after account opening, and may vary by location. Fees can reduce revenue. Accounts, product terms and fees may vary by location, and we may discontinue and/or add new account types at any time. Please consult a financial center, visit bankofamerica.com or see the Personal Fee Schedule (available at bankofamerica.com/fees) for account fees and additional information about accounts.
Avoidance of fees
Early termination fee
There is no mention of a fee for early account closure.
Monthly fees
The monthly fee is $8, waived for the first 6 months. After that, you can avoid the monthly fee for each statement cycle when you complete one of the following:
- Maintain a minimum daily balance of $500
- Link your savings account to an eligible checking account (first four savings accounts)
- Enroll in the Preferred Rewards Program
- It is also waived for those who are under 18 or who are under 25 and qualify as a Student
Our verdict
I took this offer and many readers sent it too. I usually don’t do these lower rewards because of the mental worry, but since I already have other accounts in one online login with Bank of America, I may do this.
It’s not a full $100 profit as you can probably make about $5 with the money in a regular high yield savings account against close to zero on this accountbut it should still be ~$95 extra. Just be sure to close your savings account after bonus postings to avoid monthly fees. The bonus must be posted within the 6 month grace period when the account is fee free. For those with “Preferred Rewards” status, the account is always fee-free, so there is no problem with timing at all.
there are a Bank of America nationwide checking bonus available now likewise; he is not on target.
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