UP TO $500 Checking Bonus

Open a business
checking account

Get a bonus when you open a new account with qualifying deposits and electronic payments.

To take advantage of this offer, the following criteria must be met within 60 days of opening your new checking account. Offer expires August 31.

$200
  • Open a new business checking account
  • Make qualifying deposits of at least $5,000 within 60 days of account opening date
  • At least 5 qualifying electronic payments
OR
$500
  • Open a new business checking account
  • Make qualifying deposits of at least $20,000 within 60 days of account opening date
  • At least 10 qualifying electronic payments

 

Business Fundamentals® Checking

The essential features your business needs

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Business Advantage Checking

All the essentials—plus premium benefits

Apply now
Maintenance fee For Bank of America Business Fundamentals Checking

$15/month

Ways to avoid this fee

  • Spend $250 in net new purchases on a business debit or credit card2
  • Maintain an average monthly balance of $5,000 or more
  • Maintain a minimum daily balance of $3,000
  • Maintain a combined average monthly balance of $15,000 or more in your linked Bank of America business accounts3
  • Process $500 in net Clover® Go On Demand sales each merchant services statement cycle4
For Bank of America Business Advantage Checking

$29.95/month

Ways to avoid this fee

  • Spend $2,500 in net new purchases on a business credit card5
  • Maintain an average monthly balance of $15,000 or more
  • Maintain a combined average monthly balance of $35,000 or more in your linked Bank of America business accounts3
  • Actively use Bank of America Merchant Services6 and/or Payroll Services7
Good for you if... For Bank of America Business Fundamentals Checking

You spend at least $250 a month on your business debit or credit card

or

Your average monthly balance is less than $5,000

For Bank of America Business Advantage Checking

You spend at least $2,500 a month on your business credit card

or

Your average monthly balance is greater than $15,000

Second business checking account For Bank of America Business Fundamentals Checking

$12/month

For Bank of America Business Advantage Checking

No fee

Business savings account For Bank of America Business Fundamentals Checking

Business Investment Account
No fee

For Bank of America Business Advantage Checking

Business Advantage Savings Account
No fee

Account management11 Manage your business finances with flexible tools and QuickBooks® integration For Bank of America Business Fundamentals Checking

$15/month

For Bank of America Business Advantage Checking

No fee

Avoid the monthly maintenance fee Do just one of these things each statement cycle For Bank of America Business Fundamentals Checking
  • Spend $250 in net new purchases on a business debit or credit card2
  • Maintain an average monthly balance of $5,000 or more
  • Maintain a minimum daily balance of $3,000
  • Maintain a combined average monthly balance of $15,000 or more in your linked Bank of America business accounts3
  • Process $500 in net Clover® Go On Demand sales each merchant services statement cycle4
For Bank of America Business Advantage Checking
  • Spend $2,500 in net new purchases on a business credit card5
  • Maintain an average monthly balance of $15,000 or more
  • Maintain a combined average monthly balance of $35,000 or more in your linked Bank of America business accounts3
  • Actively use Bank of America Merchant Services6 and/or Payroll Services7

About applying online

The information you'll need to apply

  • Business documentation such as filing documents, articles of organization, articles of incorporation and/or certificate of resolution
  • Business Tax ID
  • Name and address of the business
  • The state in which the business operates
  • The state in which the business was formed
  • Date the business was established
  • The SSN, address and DOB of the business owner

What to expect after applying

  1. When your application is complete, you will receive a confirmation email within a couple of hours.
  2. You’ll need to fax your supplemental documents to 800.435.0051 or scan and email them to SmallBus.Documents@bankofamerica.com (include your application ID on the fax cover sheet or in the email subject line).
  3. After your account is approved, you must send a signature card through traditional mail or take the card to a local financial center.
  4. You can fund your account while applying by using a debit card, transferring money from another account or writing a check.
  5. Once your account is open, you may access Online Banking and you will receive your checks and debit card(s) in approximately 7 to 10 business days.

Want even more benefits and rewards?

Learn more about how to qualify for and enroll in Preferred Rewards for Business.8

Find out more
  • No
    Fees

    on select everyday banking services (inbound wires, stop payments and more)

  • 25%-75%
    Rewards Bonus

    on the base earn for eligible business credit cards

  • Cash
    Rewards

    on Bank of America Merchant Services processing

  • Interest Rate
    Booster

    on Business Advantage Savings accounts

Eligibility: The $200 and $500 bonus offers are mutually exclusive: only one bonus (either $200 or $500) per business customer, regardless of the number of businesses owned or operated by the customer. Offer only available to customers who receive this offer via a direct communication from a Bank of America® small business specialist or from a Bank of America communication. You must open your Bank of America® small business checking account by August 31, 2019, and the qualifications must be met within 60 days of the account opening. All qualifying activities must be completed within the stated timeframes in order to be eligible for this offer. You are not eligible for this offer if you are or were an owner or signer on a Bank of America small business checking account that is open or that was closed within the last six (6) months. Bank of America may change or terminate this offer at any time without notice. Bank of America employees are not eligible for this offer. To redeem this offer, please visit your Bank of America small business specialist.

To earn the $200 bonus:
Open a Bank of America® small business checking account by August 31, 2019.

Make at least $5,000 in qualifying deposits (less cash received) into that new business checking account within sixty (60) days of account opening. Qualifying deposits are deposits of funds into your new small business checking account that are new to Bank of America. A transfer done via ATM, online or teller, or a transfer from a Bank of America deposit account or brokerage accounts, such as Merrill Edge® or Merrill Lynch account is not a qualifying deposit. You must not be an owner or signer on a Bank of America business checking account that is open or that was closed in the last six (6) months.

Make five (5) Qualifying Electronic Payments within sixty (60) days of opening that new business checking account. Qualifying Electronic Payments include debit card, online bill pay or automated clearinghouse (ACH) transactions, wire transfers or Zelle payments (starting/available in June).

To earn the $500 bonus:
Open a Bank of America business checking account by August 31, 2019. Make at least $20,000 in Qualifying Deposits (less cash received) into that new business checking account within sixty (60) days of account opening. “Qualifying Deposits” are deposits of funds into your new small business checking account that are new to Bank of America. A transfer done via ATM, online or teller, or a transfer from a Bank of America deposit account or brokerage accounts, such as Merrill Edge or Merrill Lynch account, is not a Qualifying Deposit.

Make ten (10) Qualifying Electronic Payments within 60 days of opening that new business checking account. Qualifying Electronic Payments include, debit card, online bill pay, or ACH transactions, wire transfers or Zelle payments (starting/available in June).

Additional Terms and Conditions:
The $200 bonus and $500 bonus offers are mutually exclusive: customers who receive the $200 bonus are not eligible for the $500 bonus. Similarly, customers who receive the $500 bonus are not eligible for the $200 bonus.

Your account does not qualify for the bonus until you provide all of the information we require in connection with opening the account by the promotion end date August 31, 2019. This includes information we require to identify each account owner and to report the bonus to the Internal Revenue Service (IRS), including a validly completed IRS Form W-9 or Form W-8 (as applicable). The value of this bonus may constitute taxable income to you. To the extent required by law, Bank of America may withhold tax or other amounts from the payment. Please consult your tax advisor, as neither Bank of America, its affiliates, nor their employees provide tax advice. Please consult a financial center, visit bankofamerica.com, or see the Business Schedule of Fees found at bankofamerica.com/businessfeesataglance for other account fees, rates and information. Reproduction, purchase, sale, transfer or trade of this offer is prohibited. Offer is limited to one per business customer, regardless of the number of businesses owned or operated by the customer.

All new accounts and services must be open at the end of any 60-day qualifying behavior period. We will make every attempt to deposit the earned cash bonus directly into your business checking account within 60 days from the end of your qualifying period.

Wire transfers:
Fees apply to wires and certain transfers. See the Online Banking Service Agreement for details. Data connection required for online and mobile transfers. Wireless carrier fees may apply.

Mobile Banking:
Mobile Banking requires that you download the Mobile Banking app and is only available for select mobile devices. Message and data rates may apply.

Online Bill Pay:
Before using Bill Pay in Mobile Banking, you will need to first enroll in the service through Online Banking

1 The monthly fee for Account Management is $15. However, there is no monthly fee for Account Management with Business Advantage Checking. You must have an open Bank of America small business deposit account to be enrolled in Account Management and fees will be billed to that account. Fees may apply for additional services. Account Management requires internet access, and internet service fees may apply.

2 Spend $250 or more in new 'Net Purchases' each statement/billing cycle using a linked Bank of America business debit or credit card. Net Purchases must post to that card account to qualify. To link your Business card to your Business Fundamentals® Checking account, please visit your local financial center or call 888.BUSINESS (888.287.4637). Net Purchases must be made on only one of either the debit or credit card accounts; Net Purchases on any combination of debit or credit card cannot be aggregated to reach the monthly spend. See Business Schedule of Fees for an explanation of how the monthly fee waiver is applied and how the card spend is determined.

3 You may link additional Business Fundamentals® Checking, Business Economy Checking, Business Interest Checking, Business Advantage Savings (all variations), Business Investment Account and Business CDs

4 Only available to new Business Fundamentals® Checking accounts opened on or after August 07, 2015. The $500 net sales threshold is determined based on your last Merchant Services statement cycle. For example, Bank of America Merchant Services processing activity from January would count toward your February monthly fee waiver evaluation. Under this example, if no other fee waiver requirement/condition applies, and you process less than $500 in qualifying sales, your February Business Fundamentals® Checking monthly fee will post on the first business day in March. If you have more than one Business Fundamentals® Checking solution, the $500 total amount submitted through a Clover® Go On Demand plan (or similar product) must be met on each separate Business Fundamentals® Checking primary checking account; total amounts submitted across multiple Business Fundamentals® Checking primary checking accounts cannot be combined to meet the $500 threshold. Net sales includes total monthly sales you submitted minus any refunds or other adjustments. The wavier applies only when the owner of the Business Fundamentals® Checking account and the Bank of America Merchant Services account share the same Taxpayer Identification Number. Merchant Services are provided by Bank of America, N.A. and its representative Banc of America Merchant Services, LLC. Bank of America Merchant Services, LLC is not a bank, does not offer bank deposits, and its services are not guaranteed or insured by the FDIC or any other governmental agency.

5 Spend $2,500 or more in new 'Net Purchases' each card billing cycle using a linked Bank of America business credit card. Net Purchases must post to that card account to qualify. To link your Business credit card account to your Business Advantage Checking account, please visit your local financial center or call 888.BUSINESS (888.287.4637). Net Purchases must be made on only one credit card account; Net Purchases on any combination of credit cards cannot be aggregated to reach the monthly spend. See Business Schedule of Fees for an explanation of how the monthly fee waiver is applied and how the card spend is determined.

6 Bank of America Merchant Services
To qualify, you must have an active Bank of America Merchant Services account that is used for processing payment transactions. In order for your Bank of America Merchant Services account to be considered “active”: (1) it must be open and in good standing; and (2) you must have submitted a qualifying transaction batch during the prior Business Advantage Checking billing cycle. A qualifying transaction batch is a single submission consisting of a group of transactions (e.g., sales and credits) that are posted to your Bank of America Merchant Services account for settlement into your Business Advantage Checking account (usually representing a day's worth of transactions). Customers that process transactions only with a Clover® Go (or similar) product are not considered an active Bank of America Merchant Services account for this purpose. To determine whether you have qualified for the monthly fee waiver on your Business Advantage Checking primary account, there is a look-back period where we determine if you had an active Bank of America Merchant Services account during a given Business Advantage Checking billing cycle. If so, we would apply the monthly fee waiver for your Business Advantage Checking primary account in the next checking account statement cycle. For example, Bank of America Merchant Services processing activity from January would count toward your February monthly fee waiver evaluation. The waiver applies only when the owner of the Business Advantage Checking account and the Bank of America Merchant Services account share the same Taxpayer Identification Number. Please see the Business Schedule of Fees for details.

7 Payroll Services by Intuit®
You are an active user when you are enrolled in Intuit® Online Payroll (Basic or Enhanced Service) or Intuit Full Service Payroll®, process at least one payroll transaction through the service in the last 60 days and pay your payroll using your Business Advantage Checking account. Payroll transactions that occur in the 10 days preceding your current Business Advantage Checking account statement cycle end may count toward your next month's Monthly Fee waiver evaluation.

8 Preferred Rewards for Business
The Preferred Rewards for Business program (formerly known as Business Advantage Relationship Rewards) is only available to Small Business, Merrill Lynch® Small Business, and U.S. Trust ® Small Business clients. Other categories of clients, such as those commonly referred to as Business Banking, Global Commercial Banking, Global Corporate Investment Banking, or Institutional clients are not eligible to participate in the program. Subject to certain exceptions, eligible business checking accounts generally are any Small Business checking account and the following Analyzed checking accounts: Full Analysis Business Checking or Analyzed Business Interest Checking. Clients in the eligible business categories may enroll in the program if you have an active, eligible Bank of America business checking account, and maintain a combined balance in any combination of your qualifying Bank of America® business deposit accounts and/or your qualifying Merrill Edge® and/or Merrill Lynch® business investment accounts of at least $20,000 for the Gold tier, $50,000 for the Platinum tier, or $100,000 for the Platinum Honors tier. The combined balance is calculated based on either (i): your average daily balance for a three calendar month period, or (ii) your current combined balance, provided that you enroll at the time you open your first eligible business checking account and satisfy the balance requirement within thirty days of opening that account. U.S. Trust® Small Business clients are automatically enrolled in the program at the Platinum Honors tier as long as you maintain your U.S. Trust relationship. Certain benefits may be available without enrolling in the program if you satisfy balance and other requirements. Program benefits subject to change.

Deposit products and services are provided by Bank of America, N.A. and affiliated banks, Members FDIC and wholly owned subsidiaries of Bank of America Corporation.

© Banc of America Merchant Services, LLC. All rights reserved. All trademarks, service marks and trade names referenced in this material are the property of and licensed by their respective owners. Merchant Services are provided by Bank of America, N.A. and its representative Banc of America Merchant Services, LLC. Banc of America Merchant Services, LLC is not a bank, does not offer bank deposits, and its services are not guaranteed or insured by the FDIC or any other governmental agency.

All credit cards are subject to credit approval and credit card account limits are subject to creditworthiness. Normal credit standards apply. Bank of America may prohibit use of an account to pay off or pay down another Bank of America account. Some restrictions may apply.

Credit card programs are issued and administered by Bank of America, N.A.

Banking products are provided by Bank of America, N.A. and affiliated banks, Members FDIC and wholly owned subsidiaries of Bank of America Corporation.

QuickBooks and Intuit are registered trademarks of Intuit Inc., used under license. Business Fundamentals®, Bank of America and the Bank of America logo are registered trademarks of the Bank of America Corporation.