Now that you're a member of the Bank of America family, you'll receive even more banking choices — including this special checking offer. Get MyAccess Checking free with direct deposit and $100 when you open online. Plus, enjoy these valuable extras:
No opening balance required
Free Online Banking service with free Bill Pay
Easy access to funds either online, by phone or using one of over 16,000 ATMs nationwide — all without a fee
Free Bank of America Visa® Check Card with Total Security Protection® and Photo Security® And for a limited time only, you'll get $100 when you open online. Just enter the offer code 100MBNA in your application to take advantage of this special promotion.
MyAccess® checking is free with a monthly direct deposit. Otherwise, the monthly maintenance fee is $5.95 a month. Charges for other account-related services still apply.
1You will receive your $100 credit to your new account within 50 days of opening your new personal checking account online. Limit one $100 incentive per household every 60 days. Offer valid only for new checking accounts. We may report the value of any premium to the IRS. You must use the promotional code 100MBNA when opening your new checking account in order to qualify for this offer. Offer expires on 12/31/2006. Offer may be withdrawn or modified at any time without notice. For interest checking accounts the annual percentage yield is 0.10% on any balance. APY is accurate as of 06/1/2006. The rate may change after the account is opened. Fees could reduce earnings on the account. The $100 credit can only be made to your new account. This new account must be still open at this time to receive your $100 credit. CampusEdge® Checking accounts are not eligible to receive $100 incentive reward.
MyAccess® checking is free with a monthly direct deposit. Otherwise, the monthly maintenance fee is $5.95 a month. Charges for other account-related services still apply.
1You will receive your $100 credit to your new account within 50 days of opening your new personal checking account online. Limit one $100 incentive per household every 60 days. Offer valid only for new checking accounts. We may report the value of any premium to the IRS. You must use the promotional code 100MBNA when opening your new checking account in order to qualify for this offer. Offer expires on 12/31/2006. Offer may be withdrawn or modified at any time without notice. For interest checking accounts the annual percentage yield is 0.10% on any balance. APY is accurate as of 06/1/2006. The rate may change after the account is opened. Fees could reduce earnings on the account. The $100 credit can only be made to your new account. This new account must be still open at this time to receive your $100 credit. CampusEdge® Checking accounts are not eligible to receive $100 incentive reward.
So open with $11.90 and in two months you can get the $100 - the fees which you can just eat to net $88.10?
Basically, for the first cycles BofA used to waive this requirement. It comes into effect beginning with the third cycle. And, if you search around a bit, you can see that it's really easy to get around toe direct deposit requirement. Just to give an example, a PayPal transfer to the account would do it. Ask Tytie
That's a big YMMV, some credit companies will code this as a cash advance. At any rate, if you do this, try to use a card that deosn't have any cash advance fees, and if it shows up as cash advance, you pay it off quickly, plus the APR for a few days, which won't be too much.
hiphiphooray said:And you can fund it with a credit card...what's stopping you from charging $10,000 and getting 1 - 1.5% Cash Back (depending on your rewards rate)?
I was thinking about cards like PenFed CU, USAA or Agriculture FCU ones, these do not have advance fees, just the regular APRs, but if they code it as a purchase, you'll get the 1.25% or whatever the rewards % is.
Just an advice: try to fly below the radar level, use small amounts for funding the account and you may have a chance for the purchase to fly (I'd say up to $500 or $1k).
Here's how it works Every time you buy something with your Bank of America debit card, we'll round up the change to the nearest dollar amount - and transfer it to your savings account. So you get to keep the change and grow your savings.
We'll chip in, too For the first 90 days, we'll add 100% to your Keep the Change savings. That means for every Keep the Change transfer, we'll contribute the same amount to your account. And when 90 days are over, we'll continue contributing 5% a year, every year.
hiphiphooray said:And you can fund it with a credit card...what's stopping you from charging $10,000 and getting 1 - 1.5% Cash Back (depending on your rewards rate)?
I believe the maximum funding allowed by CC is $1,000.
what qualify as a direct deposit? is it a cash deposit or a fund transfer? if so, does a transfer from paypal count as a direct deposit to avoid the fees?
For BofA purposes, it seems that any kind of transfer qualifies. There's a related thread though, for accounts that see ACH transfers in as direct deposit. Do a search.
"Limit one $100 incentive per household every 60 days. Offer valid only for new checking accounts." does it mean that i can open a checking account, cancel after 60 days and open up a new one?? if so, then it's 100 bucks every 2 months.
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