Experiences - Bank of America Gives Us $100 For A Regular Checking Account!

[This post is written and copyrighted by FIRE Finance (http://firefinance.blogspot.com).]

In August 2006 we had done a post on a bunch of different bonuses adding upto $195 from Bank of America. We had gone ahead and opened a Regular Checking account with them. The deal is available here (Update: It has expired). Within 60 days of opening and funding our account we received a $100 bonus credit in our checking account. Pretty neat way of earning a $100 bonus! We did not have to follow up with Bank of America for our bonus. Everything was taken care of by their e-systems. Bravo Bank of America, keep up the good service.

An important note for our readers. We had opened the Regular Checking account with $100 from our credit card (to get cash back points from our credit card).The maximum funding possible with a credit card is $100 only. To avoid any monthly maintenance fees we had transferred $650 electronically to maintain the minimum balance of $750. Various minimum balance requirement to avoid the monthly fees are:

  • No monthly maintenance fee with a $750 Minimum Daily Balance in Regular Checking, or
  • No monthly maintenance fee with a $1,500 Minimum Daily Balance in Regular or Custom Savings, or
  • No monthly maintenance fee with a $5,000 Average Daily Balance combined in checking and linked savings, Money Market Savings, CDs or IRAs
  • $9 monthly maintenance fee with direct deposit
  • $10 without direct deposit.
  • Bank of America is FDIC insured so we can rest easy with our checking bonus. Meanwhile we get started with our Savings Bonus. There is a $50 bonus for a BOA savings account and the deal is here (Update: It has expired). Since we have a regular checking account with BOA, there will be no hard credit check when we open the Savings account. That means a $50 freebie from BOA. Happy Bonus Collecting to all of us for the holidays!

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