To earn the full $500, you must receive $10,000 or more in Qualifying Direct Deposits within 90 days, according to NerdWallet. Bank of America says a Qualifying Direct Deposit is monthly paycheck-type income sent with the account and routing numbers you gave your payer.
Smaller deposits still earn something. $2,000 to $4,999 earns $100, and $5,000 to $9,999 earns $300. You must start from the promotional page, and the account must stay open until payout.
Table of Contents
- How much earns $100, $300, or $500?
- What counts as a qualifying deposit?
- Who qualifies and which account counts?
- When does the bonus arrive?
How much earns $100, $300, or $500?
Your 90-day total sets your bonus. Reach $2,000 for the first level, $5,000 for the middle level, and $10,000 for the top level. Only deposits that post during the 90-day Deposit Period count.
Two paychecks of $2,500 each put you at $5,000, which is the $300 level. A total of $1,900 earns nothing. Track your running total before day 90 ends.
- $2,000-$4,999 in Qualifying Direct Deposits: $100
- $5,000-$9,999: $300
- $10,000 or more: $500
What counts as a qualifying deposit?
Bank of America defines it as regular monthly income, such as salary, pension, or Social Security. The payer must send it using the account and routing numbers you provided.
Many everyday transfers generally do not count, according to Big Bank Bonuses in its Big Bank Bonuses breakdown. Ask your employer to send payroll to the new account. Government benefits work when sent the same way.
- self-made bank-to-bank transfers
- wire transfers
- Zelle payments
- cash deposits
- mobile check deposits
Who qualifies and which account counts?
Only new checking customers qualify. BankRewards describes that as no ownership or co-ownership of a Bank of America personal checking account in the prior 12 months. Frequent Miler lists the eligible choices as Advantage SafeBalance Banking, Advantage Plus Banking, and Advantage Relationship Banking.
You must open through the promotional page by January 31, 2027, according to the Bank of America promotional page. Check the date you closed any old account. If it falls inside 12 months, wait before applying.
When does the bonus arrive?
Bank of America totals deposits at the end of the 90-day Deposit Period. It then tries to pay within 60 days, according to Hustler Money Blog's October 2026 terms summary.
The new account must remain open and in good standing until the bonus posts. Close it early and you can lose the payment.
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