Bank of America Advantage Plus Banking ACH Question

[Wavester64]

The requirements to avoid fees are the following (I draw your attention to the hightlighted area)

It's been said on reddit that you can ACH $250 back and forth to avoid this fee.

However, I have only seen that one person mention this.

Can anyone confirm that making a $250 ACH back and forth each month qualifies to avoid and fees with opening this account? Its a much better option than having $1500 dead in the account.

[DaveInAZ]

Heck if I know, but sure interested in the answer - BoA is very strict on the type of direct deposits for a bonus, but not sure about to avoid fees. I just opened a BoA checking in late March, I got the targeted email of $300 bonus for $4k in direct deposits within 90 days. I'm good until end of June on fees as it will take me that long to get $4k in payroll DDs into the account. In checking Doctor of Credit "Methods Banks Count as DDs" I see a note that an ACH from Discover savings worked for avoiding fees but not for a bonus, so may be possible.

[Anonymous]

Well since my severance stops April 20th, it means I'll need to DD from somewhere starting in May. So I plan to test this DP very soon!

I sure hope so as I don't really want to close an account I've had this long. I was trying to figure out which FI to use, so as per this thread I'll try Disco first. 

I'm guessing check deposits via the app will not work either?

[coldfusion]

DoC has a page with data collected from readers as to whether any of a number of different bank/CUs would treat ACH deposits pushed from other banks/CUs as DD.   You might want to look up that page and check.

[AllZero]

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@Anonymous wrote:

Well since my severance stops April 20th, it means I'll need to DD from somewhere starting in May. So I plan to test this DP very soon!

I sure hope so as I don't really want to close an account I've had this long. I was trying to figure out which FI to use, so as per this thread I'll try Disco first. 

I'm guessing check deposits via the app will not work either?

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@Anonymous  @Wavester64  Navy ACH will count as DD $250.

[Wavester64]

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@AllZero wrote:

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@Anonymous wrote:

Well since my severance stops April 20th, it means I'll need to DD from somewhere starting in May. So I plan to test this DP very soon!

I sure hope so as I don't really want to close an account I've had this long. I was trying to figure out which FI to use, so as per this thread I'll try Disco first. 

I'm guessing check deposits via the app will not work either?

---

@Anonymous  @Wavester64  Navy ACH will count as DD $250.

---

So just to confirm/clarify : Your saying if I dump $500 in my Navy account, and then in 2 successive bi-weeks I send $250 from that Navy account to my BOA that would qualify me for that bonus, correct?

[AllZero]

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@Wavester64 wrote:

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@AllZero wrote:

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@Anonymous wrote:

Well since my severance stops April 20th, it means I'll need to DD from somewhere starting in May. So I plan to test this DP very soon!

I sure hope so as I don't really want to close an account I've had this long. I was trying to figure out which FI to use, so as per this thread I'll try Disco first. 

I'm guessing check deposits via the app will not work either?

---

@Anonymous  @Wavester64  Navy ACH will count as DD $250.

---

So just to confirm/clarify : Your saying if I dump $500 in my Navy account, and then in 2 successive bi-weeks I send $250 from that Navy account to my BOA that would qualify me for that bonus, correct?

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Minimum one monthly ACH should suffice.

Per BoA website below for Advantage Plus Checking:

We'll waive the monthly maintenance fee each statement cycle that you:

• Have at least one qualifying direct deposit of$250+

OR

• Maintain a $1,500 minimum daily balance

OR

• Are enrolled in Preferred Rewards4

[Wavester64]

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@AllZero wrote:

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@Wavester64 wrote:

---

@AllZero wrote:

---

@Anonymous wrote:

Well since my severance stops April 20th, it means I'll need to DD from somewhere starting in May. So I plan to test this DP very soon!

I sure hope so as I don't really want to close an account I've had this long. I was trying to figure out which FI to use, so as per this thread I'll try Disco first. 

I'm guessing check deposits via the app will not work either?

---

@Anonymous  @Wavester64  Navy ACH will count as DD $250.

---

So just to confirm/clarify : Your saying if I dump $500 in my Navy account, and then in 2 successive bi-weeks I send $250 from that Navy account to my BOA that would qualify me for that bonus, correct?

---

Minimum one monthly ACH should suffice.

Per BoA website below for Advantage Plus Checking:

We'll waive the monthly maintenance fee each statement cycle that you:

• Have at least one qualifying direct deposit of$250+

OR

• Maintain a $1,500 minimum daily balance

OR

• Are enrolled in Preferred Rewards4

---

OK, I am going to give this a whirl. (2) $250 ACH from Navy to BOA and hopefully that qualifies me for the $100 bonus.

I gotta get something outta putting $1500 dead there and not getting the CC I wanted  

[Wavester64]

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@AllZero wrote:

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@Wavester64 wrote:

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@AllZero wrote:

---

@Anonymous wrote:

Well since my severance stops April 20th, it means I'll need to DD from somewhere starting in May. So I plan to test this DP very soon!

I sure hope so as I don't really want to close an account I've had this long. I was trying to figure out which FI to use, so as per this thread I'll try Disco first. 

I'm guessing check deposits via the app will not work either?

---

@Anonymous  @Wavester64  Navy ACH will count as DD $250.

---

So just to confirm/clarify : Your saying if I dump $500 in my Navy account, and then in 2 successive bi-weeks I send $250 from that Navy account to my BOA that would qualify me for that bonus, correct?

---

Minimum one monthly ACH should suffice.

Per BoA website below for Advantage Plus Checking:

We'll waive the monthly maintenance fee each statement cycle that you:

• Have at least one qualifying direct deposit of$250+

OR

• Maintain a $1,500 minimum daily balance

OR

• Are enrolled in Preferred Rewards4

---

Just to update for anyone following this thread - so far I have NOT gotten the bonus. BofA's site mentions in the fine print that it should be within 60-days of the 2nd deposit - 60-days will be July 25th, which is coming soon. Hopefully it still happens. I wish they had a chat or email feature to check up on this - not in the mood to call and be online for any extended amount of time just to find out the CSR doesn't know any more than I do 

[randomguy1]

Very recent DPs:

6/20 - Opened

7/9 - DD (legit)

7/9 - DD (legit, my consulting gig)

7/17 - Bonus post