Bank of America is offering a $75 bonus for new customers opening a personal checking account with them by April 30th. If you open online, you will probably get a hard credit check. If you open in a branch, you should be able to avoid this. Use offer code AOU26020.
Offer expires 04/30/2008 and is available through our online application or in any Bank of America banking center. Offer does not apply to second or multiple checking accounts and/or existing checking customers. This minimum deposit required to open a new, personal checking account and receive the $75 offer is $100.
BofA also has a $100 bonus for a business checking account.
Offer applies to any new business checking account opened with a Visa® Business Check Card before March 31, 2008. Limit one $100 incentive per business every 6 months. If opening the account online, you must enter the code BTB0100 to ensure you receive the bonus. If opening your account in a Bank of America banking center, you must provide the coupon to receive the bonus.
Chase Bank is offering a $100 bonus for opening a Free Checking Account with direct deposit by March 31st. You must actually go to a branch, I’m not sure if they check your credit there. I’d hope not.
To qualify for the $100 reward you must open a new checking account and initiate a repeating direct deposit such as payroll, pension or Social Security. The first direct deposit must be completed within 60 calendar days of account opening.
Chase is also offering a $200 bonus for opening a business checking account. (Thanks Susie)
Open a Chase BusinessClassicSM, BusinessPlus® or Chase Advanced Business CheckingSM Checking account and deposit a minimum of $500 or more within 30 days of account opening with funds not currently on deposit with Chase.
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Chase also charges you $22.95 for the first box of checks which are ordered automatically when you open an account. I think you can cancel them if you call early enough, but I didn’t. I needed checks anyway.
FYI, BOA will do a hard pull on your credit report when you open a checking account. They pulled not once but TWICE on me when I had opened my checking account that had the $100 bonus offer (code A0U2611) for the free MyAccess checking with no minimum requirements.
for business accounts i just looked at chase’s website and it appears they charge you a percentage of deposits over $5K in a month. like 1.5%. on a 10K deposit that is $75.
was almost about to switch from US Bank until i saw that one.
In addition you can stack referrals on top of the Chase offer on the personal side. Extra $25 for anyone interested.
Updates:
1. Chase’s bonus offer is $125 (I received a cerfiticate in the letter with exp date 4/30/2008 and also saw it online with exp date 3/15/2008). This bonus also applies to existing customer. To qualify for an extra $25 referral bonus (as Aaron said above), the customer you refer to must be a new customer.
2. HSBC offers $75 for checking with direct deposit and $75 for saving. Both checking and saving require an initial deposit $3000 and has no min balance requirements. (You can open a checking with $3000 and took it out in 3-4 days and then go back to open a saving with the $3000 again).
3. Sovereign Bank (at least in NYC) offers promotion bonus (in ExxonMobil gift card) to new checking account customer without direct deposit $25 and with direct deposit $50. To Business checking account customer, the bonus $200 in ExxonMobil gift card.
I’d stay away from Bank of America because of their very unattractive interest rates. If you can make more than $100/year at 4% interest another bank would make sense. I would only sign up for Bank of America if I knew that I could not make $75 a year in interest. 🙂
Does anyone knows how much initial deposit BoA needs to open a BoA business account with $100 bonus? Also, it seems you need to have a BoA personal account to avoid monthly fee on the business account.
I’m not sure I’m getting you, Dave. Isn’t the point of opening the biz checking with BofA just to make the $100 free money. Why would you be concerned about the earned interest on $100 at 4% in a year, that would be like $4? Am I missing something? Do I have to maintain more money in the BofA biz checking? Can’t I just open the account and make the $100 and let it sit until a certain period and then close the account. Isn’t that the point? I use BofA to make money, not to save with. I’m currently borrowing over $60K for 0% with them and it’s sitting over at WAMU making that nice 4%. Cheers, Sue
Andy,
I believe it’s $100 to open. Am in the process right now. Will let you know if otherwise. Also here’s the skinny on what you need to avoid the fees. Looks like footnote 1 addresses your question. If you’ve got a personal account no fee;otherwise, to avoid fees, big balances needed. Good luck.
BofA says:
Our most popular business checking option for business owners who like the flexibility to bank with tellers inside Banking Centers as well as via ATM.
Who it’s for
Business Checking is designed for smaller businesses with:
an average balance of less than $15,000
fewer than 100 checks paid each month
less than 20 deposits per month
under $20,000 cash deposited per month
Business Checking features
No monthly service charge if you maintain at least one of the following:
a personal checking account with Bank of America1
$4,000 minimum daily balance
$10,000 average monthly balance
$7,500 combined minimum daily balance of linked accounts2
$15,000 combined average monthly balance of linked accounts2
No charge for the first 100 checks paid and 20 deposits per month
Includes all the checking services offered with every Bank of America business checking account
Open an account now
Footnote1 If you have a personal Bank of America Prima Account, your Business Checking or Business Interest Checking account features no monthly service charge for as long as you maintain your personal Bank of America Prima Account. If you have any other personal checking account, your Business Checking or Business Interest Checking account features no monthly service charge for 2 years.
Footnote2 Eligible accounts include Business Savings, Business Interest Maximizer®, Business Money Market Account, and Business CDs
andy—-! do you have a copy of your letter with the 4/30/2008 expiration date still? I had an old offer that expired on 1/31/2008 for $125 that the branch didn’t let me use. They said if I find an offer with a promo code that is still valid they will let me use that within the next 30 days-because i went ahead an opened the account…any help would be awesome.
Thanks,
Mark
Mark,
I received the $125 coupon/certificate from Chase monthly statement envelop and I already used it in Feb to open my second free checking account (with dir deposit) plus my second saving account ($25 for initial deposit of $500 and $15 for automatically transferring $100 from checking to saving once a month). Chase gave the rewards $165, very quickly, within 2 weeks.
I still hold both the checking and saving coupons/cerfiticates. But the promotion code on Chase coupon is unique (different from HSBC’s, which is constant). I believe (and the Chase rep also said when he returned the used coupons to me) that means no one can use those coupons again because I have used them already. If you still want them, I can give them to you, via email with promotion code or through postal office. The coupon expiration dates for saving account is 3/31/2008 and for free checking is 4/30/2008.
Susan,
Thank you for clarification. I opened a Business Economy Checking account with BofA yesterday with initial $100 deposit. The account is free of maintenance charge for the first 2 years because I linked it to my checking/saving account. I have to put $750 in checking and $300 in saving with virtually zero interest to maintain free monthly fees on all three accounts. I have to wait until 6 months after my 1 year anniversary of the “Keep the Change” program to withdraw the almost-zero-interest $1050 without incurring any charge.
Regards,
Andy
Hi Andy,
I’m having trouble with collecting my free $100 with Chase. I signed up online and discarded my flyer and now they are stating they need the promo code in order to honor their side of the agreement.
I was told by the representative that I just need to give them a promo code for that time period (I signed up on 3/13/2008) and they can apply the funds.
I have asked them to contact their marketing department for that information or I will be forced to cancel my acct because if I open a new acct, I would be charged again for checks I don’t need and that would defeat the purpose of opening an account for the $100.
If you could supply me with the promo code you have, it might save me some headache 🙂
Thanks in advance for any assistance you are able to give (or anyone else for that matter)