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Yesterday morning my wife and I each received an email detailing a $300 bonus for opening a new checking account with Bank of America. The details are:

Get a $300 bonus when you: (1) Open a new Bank of America Core Checking® or Bank of America Interest Checking® account by April 15, 2017. (2) Set up and receive qualifying direct deposits* totaling $4,000 or more within 90 days of opening your new checking account.

BofA checking bonus

The fine print

The terms state that the direct deposit must be “a recurring direct deposit of a paycheck, pension, Social Security or other eligible regular monthly income, electronically deposited by an employer or an outside agency into your new checking account,” which is typical for these deals. Sending yourself an ACH transfer would be way too easy.

The bonus will be paid within 60 days of meeting the direct deposit requirements. You can also apply in person, online, or via phone, which makes this deal easier to take advantage of if you don’t live near a BofA branch.

The offer *is* targeted and says it is only available to those who received the communication directly from Bank of America. Both my wife and I have credit card accounts with BofA, but neither of us have ever had any other type of account with them. I would assume that many others are in the same boat as we are, so hopefully you received the email like we did!

I’ve previously gotten checking bonuses with Chase, to the tune of $150 and $200. I received a similar email last year from BofA, but I wasn’t able to capitalize on it as all the branch locations in my area were purchased by another bank, and  I waited until the last couple days of the offer to walk-in and apply. I think it was $150 for depositing your tax return into a new account.

Have you been targeted with this great offer?

Featured image courtesy of Mike Mozart under CC 2.0 license.

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