Bank of America

Introduction of Bank of America

Bank of America is a member of the FDIC and has been awarded the highest level of recognition for safety and soundness by both the U.S. Treasury Department and OCC. We’re committed to providing you with safe, secure products and services that help you achieve your financial goals.

Bank of America, Member FDIC. © 2019 Bank of America Corporation.

Bank of America is a bank that belongs to the Federal Deposit Insurance Corporation, which ensures that you will never lose all your money. If your bank goes bankrupt, we’ll help replace it with another one.

Bank of America SafePass

SafePass is a feature that allows you to set up a temporary password to access your online banking account. You can use SafePass if you forget your password, or if you are having trouble accessing your account.

To use SafePass:

Debit card and ATM card fees

  • Fees for using a non-Bank of America ATM: There are no fees associated with using your debit card at an ATM not located in the U.S. If you’re visiting a country other than the U.S., however, there may be some additional charges.
  • Fees for using a card at an ATM that isn’t located in the U.S.: You will be charged a fee when you use your debit card abroad to withdraw cash from any machine that isn’t owned or operated by Bank of America (including those inside stores and restaurants). The amount varies depending on where you’re traveling and how much money you’re withdrawing from an overseas bank account versus one in America—but it could cost anywhere between $10-$20 per withdrawal under most circumstances!

Online Banking

Online banking is a convenient way to manage your finances. It’s secure and easy to use, with features that include bill pay and mobile check deposit. And it’s free for all customers!

Mobile Banking App

The Bank of America Mobile Banking app is available for iPhone and Android phones. You can use the app to check account balances, transfer funds, pay bills and more. You can also use the app to deposit checks or make transfers between accounts.

Mobile Check Deposit

To deposit a check with the mobile app, you need to first download the Bank of America Mobile Check Deposit application. Once you have it installed on your phone and logged in, follow these steps:

  • Open the app and select “Deposit” from the menu bar. You will be prompted to enter information about where you want to deposit your check (e.g., savings account), how much money is in your account (e.g., $100) and what type of account it is—checking or savings—and how often this account earns interest (e.g., every month).
  • Select “Choose File” from under “Choose Account” then choose which file format best suits your needs by selecting from several options including scanned images or PDFs emailed directly from email addresses listed within copies provided with each type indicated above.” Then click “Next”.

Travel Notifications

Travel Notifications – Travel notifications are a free service that allows you to receive alerts from the bank when your account activity changes. This includes things like:

  • A new ATM card has been issued to you, or one of your existing cards was replaced with another version (e.g., a replacement for an old debit card).
  • Someone has signed up as an authorized user on your account and changed their address, phone number or email address—all of which will be reflected in these notifications at the top of your inbox.

Online and Mobile Bill Pay

If you need to make a payment, you can do so from your computer or mobile device. You’ll also be able to easily schedule recurring payments with Bank of America and pay them in seconds.

With our Bill Pay service, there are no restrictions on when or where you can pay your bills—you can even schedule automatic payments from anywhere! And if the thought of entering all this information into multiple websites gives you anxiety, don’t worry—we’ve made it easy for you to create an account and pay online using one click.

Paperless Statements

  • You can choose to receive your statement online.
  • You can choose to receive your statement by email.
  • You can choose to receive your statement via text message or by mail in a combination of the above.*

Business Express® Online Banking and Cash Flow Manager®

Business Express® Online Banking and Cash Flow Manager®

Business Express® Online Banking is a fast, secure way to access your accounts 24/7. You can manage all of your accounts from one place—and quickly access important information about them, including balances and transaction history. You also get access to loan information, as well as tools that help you keep track of bills and expenses so you can make informed decisions about how much money you need in each account.


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

2. Existing Non-Checking Customers — $300

If you already have an account with Bank of America, such as a credit card, but you don’t have a personal checking account, log in and you may see a higher offer.

On the right-hand side of the screen, you’ll see an “Activity Center.” When you click on Special Offers & Deals, you may see the following offer.

“*This exclusive offer is only for select Bank of America® customers who don’t already have a personal checking account with us and who received an email or direct communication from Bank of America.”

The best one we’ve seen is where you:

  • Open a Bank of America Core Checking or Interest Checking account, and,
  • Set up a qualifying direct deposit totaling $4,000 or more within the first 90 days of opening your account to get the $300 bonus.
Bank of America

3. 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 .

Credits: Bank of America.

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

4. 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.

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 thisguide on bank account bonuses  to make sure you know what to watch out for.

For more information on our products and services, visit


We hope you’ll have fun exploring the different ways to use your Bank of America® credit card, and we can’t wait to see what you come up with. Keep in mind that while this post focuses on the Cash Rewards card, there are more than 200 other options out there—and they all have unique benefits and perks that could make them perfect for you! If you have any questions about using your Bank of America® credit card, please call them at 1-866-662-6518.

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