Get $25 from Bank of America for opening a Savings Account

Already have a Bank of America checking account? Next time you log in, look for this $25 Savings Account offer from Bank of America. You just have to open a Regular Savings Account with them with an opening deposit of at least $100, and then also make one transfer from your checking account to your savings account online.

Note that according to the BofA fee schedule, you’ll need to either keep a $300 minimum daily balance or have an automatic monthly transfer of $25 into your savings from checking to avoid a $3 monthly maintenance fee. So, I’m transfering in $300, making another transfer for $25, and then waiting the 45 days 90 days to avoid a $5 early closure fee for my $25, then closing the account most likely. Total time spent: ~10 minutes.

Note that the offer says to “Simply include offer code OXRSA0215 in the promotion field of the application process.” But when I applied online, I got to such field to put in the code. I called them up, and they said as long as you applied from the offer page, I should be fine. (Here’s hoping, otherwise I’m calling again.) Also, since I already have a checking account with them, no credit check will be performed.

Here’s the fine print (emphasis mine):

“$25 will be deposited into your new savings account within 45 days of making your fund transfer after opening your new Regular Savings account online with an opening deposit of $100. The transfer can either be FROM your new savings account TO your checking or FROM your checking TO your new savings account scheduled in Online Banking (Transfer Fund Tab). For Transfers that are set up as scheduled transfers, please allow 60 days from date of transfer set to receive your $25 deposit. Limit one check per customer. Offer valid only for new savings accounts. The $25 will count as interest on your account and any applicable taxes are the responsibility of the account holder. Offer expires on 12/31/05. The offer is not applicable if customer redeems another Bank of America promotion.”

I’m not sure what the last line means, specifically if you got in on their previous $100 Checking Account promotion if you can still get this one. I’m thinking that it means previous Savings Account promotions, but I’m not sure.

Find more in Deals & Offers | 6/17/05, 11:14pm | Trackback