Bank of America Advantage Relationship Banking — Bank of America

High bonusDD methods confirmedNationwide

$100/$300/$500

Our take

For most people Advantage Plus is the pick: it runs the exact same $100/$300/$500 direct-deposit ladder as Relationship, but its $12 fee clears with a single $250 direct deposit or a $1,500 balance, while Relationship's $25 fee only waives with a $20,000 balance or Preferred Rewards status.
Relationship really only makes sense if you're already parking a large balance at BofA or already hold Preferred Rewards; otherwise you're paying more for an identical bonus.
Direct deposit is defined loosely here: the top $500 tier wants $10,000 in deposits within 90 days, but pushes from brokerages and fintechs like Fidelity, Schwab, Ally, and SoFi have reliably counted, so you don't need a real paycheck to max it.
Payout is fast in practice, often within a couple of weeks of hitting your deposit total and well inside the stated 60-day outer window. A bonus-enrollment letter or email usually lands first; if you never get one, that's the thing to follow up on.
It's a soft pull as long as you decline overdraft protection when you apply, and there's no early-termination fee, but don't close the account the moment the bonus posts; leave it open a few months to be safe.

Bonus terms are identical across these accounts — compare fees and waivers below.

Fee waiver — any one of:

Receive at least one qualifying direct deposit of $250 or more in the statement cycle.
Maintain a minimum daily balance of $1,500 in the account.
Be enrolled in the Bank of America Preferred Rewards program at the Preferred Plus, Preferred Honors, or Premier tier. (The base Member tier does not qualify for the waiver.)

Bank of America Advantage Relationship Banking$25/mo

Fee waiver — any one of:

Maintain a minimum daily balance of $20,000 in the account.
Be enrolled in the Bank of America Preferred Rewards program at the Preferred Plus, Preferred Honors, or Premier tier. (The base Member tier does not qualify for the waiver.)

Core details

$100

Receive a running total of at least $2,000 in qualifying direct deposits within 90 days of opening the account to earn the $100 tier. Qualifying direct deposits are regular income (such as salary, pension, or Social Security) sent by an employer or payer using your account and routing numbers; teller deposits, wires, ATM transfers, and transfers you make yourself from another bank or brokerage don't count.

$300

Receive a running total of at least $5,000 in qualifying direct deposits within 90 days of opening the account to earn the $300 tier.

$500

Receive a running total of at least $10,000 in qualifying direct deposits within 90 days of opening the account to earn the top $500 tier.

Ally Bank
Transfers from an Ally savings account trigger the bonus and post as an ACH credit (memo shows ALLY BANK DES:P2P).
Charles Schwab Brokerage
Pushes from a Schwab brokerage/investment account trigger the bonus.
Fidelity
Fidelity pushes trigger the bonus.
Fidelity CMA
Pushes from a Fidelity Cash Management Account trigger the bonus.
SoFi
SoFi pushes trigger the bonus.
Chase Business Checking
External transfers from Chase Business Checking trigger the bonus and post as an ACH credit (memo shows a JPMorgan Chase external-transfer descriptor).
Relay Business Checking
Relay pushes with "payroll" in the memo trigger the bonus.
American Express Business Checking
Transfers from an American Express Business Checking account trigger the bonus.

Terms & reference

Monthly fee$25

Credit pullSoft pull

Payout timing60 days

Credit card fundingNo

Pulls EWSYes

Maintain a minimum daily balance of $20,000 in the account.
Be enrolled in the Bank of America Preferred Rewards program at the Preferred Plus, Preferred Honors, or Premier tier. (The base Member tier does not qualify for the waiver.)