Bank of america open new account requirements

  • Bank accounts
  • Checking accounts
  • How to open a checking account online

You can apply online for a checking account if you’re 18 years or older and a legal U.S. resident. You’ll need the following information:

  • Your Social Security number.
  • A valid, government-issued photo ID like a driver’s license, passport or state or military ID.
  • A minimum opening deposit of $25 to activate your account (once you’ve been approved). This can be paid with a credit, debit or prepaid card, a transfer from another U.S. Bank account or a transfer from another financial institution.

Checking account resources

U.S. Bank Smartly™ Checking account

An interest-bearing checking account that’s eligible for Smart Rewards™

Monthly maintenance fee

$6.95 or $0

There are multiple ways to get the monthly maintenance fee waived.1

Safe Debit account2

A bank account minus the checks with no overdraft fees

Monthly maintenance fee

$4.95

Monthly maintenance fee can’t be waived

Want to open a checking account in person?

You can visit any U.S. Bank branch to open a checking account. You’ll still need identification and personal details, such as your Social Security number and a valid government-issued ID. You can also call a U.S. Bank representative at 800-398-0371 to ensure you have everything you need to open a checking account or other bank account.

Ready to apply?

Start of disclosure content

Disclosures

  1. Members of the military (requires self disclosure) and customers ages 24 and under and those 65 and over pay no monthly maintenance fee. All others can have it waived by meeting any one of the following criteria: Have combined monthly direct deposits totaling $1,000 or more; or keep a minimum average account balance of $1,500 or more; or hold an eligible U.S. Bank credit card; or qualify for one of the four Smart Rewards™ tiers (Primary, Plus, Premium or Pinnacle).

    The average account balance is calculated by adding the balance at the end of each calendar day in the statement period and dividing that sum by the total number of calendar days within the statement period. Other fees may apply.

    Please refer to the Consumer Pricing Information disclosure for more details.

Start of disclosure content

Mobile device access fees – The U.S. Bank Mobile app is free to download. Your mobile carrier may charge access fees depending upon your individual plan. Web access is needed to use the Mobile app. Check with your carrier for specific fees and charges. Some mobile features may require additional online setup. Any fees for optional transactions will be identified during registration for these services and during their use.

Text messaging fees – For text alerts, standard messaging charges apply through your mobile carrier and message frequency depends on account settings. Check with your carrier for specific fees and charges.

Deposit products are offered by U.S. Bank National Association. Member FDIC.

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Bank of America is one of the largest banks in the United States and chances are you have a branch just around the corner.

Bank of america open new account requirements

While headquartered in Charlotte, North Carolina, Bank of America has thousands of ATMs and Financial Centers around the nation. I did a quick search on their location tools and found 50 results within 12.7 miles near me!

Bank of America is the second-largest bank behind JPMorgan Chase – and today you can find out how they will give you money to open an account with them.

Bank of America has one bonus offer for the bank – for new customers – Bank of America has a $100 bonus offer.

And one bonus offer for Merrill Edge, their brokerage.

Member FDIC.

Table of Contents
  1. Promotions For New Customers to Bank of America — $100 Bonus Offer
  2. Merrill Edge Self-Directed – up to $750
  3. How Does This Bonus Compare?

Promotions For New Customers to Bank of America — $100 Bonus Offer

Bank of America Bonus Summary

  • What you get: $100 Bonus Offer
  • Who qualifies: New checking customers only
  • Promotion code: DNB100CIS
  • Where to open: Online only
  • How to get it:
    • Open a Bank of America Advantage SafeBalance Banking®, Bank of America Advantage Plus Banking®, or Bank of America Advantage Relationship Banking® account,
    • set up and receive qualifying direct deposits totaling $1,000 or more into that account within 90 days of account opening
    • * Additional Terms and Conditions apply. See the Bank of America offer page for more details.
    • Bank of America will attempt to pay bonus within 60 days.
  • When does it expire: 12/31/2022

👉 Click here to learn more about this offer

If you are not a customer of Bank of America at all, their public nationwide offer is a $100 Bonus Offer and to get it, start by opening a new checking account online through a Bank of America promotional page.

Three Bank of America Banking accounts qualify for this bonus:

  • Bank of America Advantage SafeBalance Banking® – $25 minimum opening deposit, $4.95 monthly fee waived for students under 25 or enrollees of Preferred Rewards
  • Bank of America Advantage Plus Banking® – $100 minimum opening deposit, $12 monthly fee waived with direct deposit or daily balance requirements, etc.
  • Bank of America Advantage Relationship Banking® – $100 minimum opening deposit, $25 monthly fee waived with direct deposit or daily balance requirements, etc.

Open the account and set up and receive qualifying direct deposits totaling $1,000 or more into that account within 90 days of account opening to get your bonus.

Don’t forget, the Bank of America promotional offer code is DNB100CIS. If you click through the links on this site, the code will be entered automatically for you.

Member FDIC.

Learn more about this offer
(Offer expires 12/31/2022)

Merrill Edge Self-Directed – up to $750

Bank of America’s Merrill Edge has a welcome bonus offer of up to $750 based on how much you deposit into your account. Merrill Edge is a brokerage account and the Self-Directed account is their self-managed investment account (rather than a robo-advisor).

The standard offer is a bonus of up to $600 but there are often other, non public, promotions if you look around. The amount of the bonus is based on the amount of your qualifying deposit, which you must make within 45 days and keep for at least 90 days.

The offer code is 750ME.

Qualifying AssetsCash Bonus
$5,000 – $19,999 $50
$20,000 – $49,999 $125
$50,000 – $99,999 $200
$100,000 – $199,999 $350
$200,000 or more $750

If you aren’t a Preferred Rewards account, the bonus schedule is:

  • $20,000 – $49,999: $100
  • $50,000 – $99,999: $150
  • $100,000 – $199,999: $250
  • $200,000+: $600

Learn more about this offer

How Does This Bonus Compare?

If you’re an existing customer and qualify, the $300 bonus is pretty good because it’s easy. We maintain a list of bank bonus offers and there are very few offers that are as generous as the $300 (with such easy requirements). Since you already have an existing relationship with Bank of America, it makes the maintenance of the account simpler since you have a login already.

If you’re not a customer, the $100 Bonus Offer is OK but not as high as some others. I’ve never seen a higher offer from Bank of America so this is not a case of “wait and see” if they make a higher offer sometime later.

⭐Citi Priority Account – up to $2000

Citi Priority is offering up to $2000 bonus when you open an account by 1/9/2023. Then, within 20 days of opening your account, deposit at least $10,000 in New-to-Citi® funds and keep it there for 60 days after the 21st day. The bonus amount is based on how much you can transfer but the lowest tier starts at $10,000.

👉 Click here to learn more

Discover Online Savings Account – $150 or $200

Discover Bank is offering a $150 or $200 bonus when you open your first Discover Online Savings Account with the promotion code WH922 and deposit at least $15,000 into the account within 30 days. You get $150 if you deposit $15,000 or more and $200 if you deposit $25,000.

👉 Click here to learn more

Bank of America – $100 Bonus Offer

Bank of America offers a $100 Bonus Offer cash bonus if you open a new account and set up and receive qualifying direct deposits totaling $1,000 or more into that account within 90 days of account opening. It has a monthly fee that is easy to have waived.

👉 Click here to learn more

Chase Total Checking® – $200

Chase Bank will give you $200 when you open a Total Checking account and set up direct deposit within 90 days. There is a $12 monthly fee that is waivable with a monthly direct deposit of just $500, so no gotchas on this deal!

👉 Click here to learn more

Huntington Bank – up to $300

If you are a resident of Colorado, Illinois, Indiana, Kentucky, Michigan, Minnesota, Ohio, Pennsylvania, South Dakota, West Virginia, or Wisconsin then you could get up to $300 from Huntington Bank for opening a new checking account. There are several checking accounts that qualify but they’re great offers if you live in their geographic region.

👉 Click here to learn more

So as you can see, the public offer from Bank of America is OK. Other banks both have similar large geographic footprints (Chase is bigger) so you aren’t getting anything extra by going with Bank of America.

Before you take advantage of this or any other bank offer, review this guide on bank account bonuses to make sure you know what to watch out for.

What is an offer code for Bank of America?

The offer code for the $100 Bonus Offer new account bonus is DNB100CIS.

Does Bank of America give you money for opening an account?

Only when they have an active promotion, such as the $100 Bonus Offer offer for opening a new checking account. The most popular promotion is getting $100 Bonus Offer for opening a new account and set up and receive qualifying direct deposits totaling $1,000 or more into that account within 90 days of account opening.

What is DNB100CIS?

DNB100CIS is the promotion code you must enter to get the $100 Bonus Offer bonus for opening a new Bank of America checking account.

How much is the bonus for using the promotion code DNB100CIS?

The code gives you a $100 Bonus Offer for opening a new Bank of America checking account.

What are the fees on the Bank of America checking account?

There are three checking accounts and the fees vary from $4.95 a month to $25 a month. They can be waived if you set up a direct deposit or maintain a high enough daily balance.

Bank of America Cash Bonus

Bank of america open new account requirements

Strengths

  • $300 for existing customers, $100 for new customers
  • Wide geographic footprint
  • Relatively easy bonus requirements
  • Museums on Us program

Weaknesses

  • Lower bonus for non-customers
  • Accounts pay no or little interest
  • Monthly maintenance fees (that can be easily avoided)

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Bank of america open new account requirements

Jim Wang is a forty-something father of four who is a frequent contributor to Forbes and Vanguard's Blog. He has also been fortunate to have appeared in the New York Times, Baltimore Sun, Entrepreneur, and Marketplace Money.

Jim has a B.S. in Computer Science and Economics from Carnegie Mellon University, an M.S. in Information Technology - Software Engineering from Carnegie Mellon University, as well as a Masters in Business Administration from Johns Hopkins University. His approach to personal finance is that of an engineer, breaking down complex subjects into bite-sized easily understood concepts that you can use in your daily life.

One of his favorite tools (here's my treasure chest of tools,, everything I use) is Personal Capital, which enables him to manage his finances in just 15-minutes each month. They also offer financial planning, such as a Retirement Planning Tool that can tell you if you're on track to retire when you want. It's free.

He is also diversifying his investment portfolio by adding a little bit of real estate. But not rental homes, because he doesn't want a second job, it's diversified small investments in a few commercial properties and farms in Illinois, Louisiana, and California through AcreTrader.

Recently, he's invested in a few pieces of art on Masterworks too.

>> Read more articles by Jim

Opinions expressed here are the author's alone, not those of any bank or financial institution. This content has not been reviewed, approved or otherwise endorsed by any of these entities.

Reader Interactions

What are the requirements to open the accounts Bank of America?

Your Social Security number. Your current residential address. Your email address. Your account number or debit card number to make your opening deposit into your new Bank of America account..
Proof of U.S. residency. ... .
One primary photo ID. ... .
One secondary ID..

What documents do I need to open a Bank account?

Acceptable Forms of ID for Banks.
Driver's license..
REAL ID card..
DoD ID card (also known as Department of Defense ID Card).
Passport/Passport card..
Social security card..
Birth certificate..

Can I open a new account in Bank of America?

You can apply online for a checking account, savings account, CD or IRA. Simply select an account, enter your personal information, verify your information and choose features & funding options.

How much cash do you need to open a Bank of America account?

Fund the account Set up a transfer from your existing checking or savings account, or you can pay with cash, a debit card, money order or check at a local branch. The minimum opening deposit for many Bank of America accounts is $100.