Chase vs Bank of America: which checking account pays you to switch?

Chase vs Bank of America: which checking bonus pays more?

Chase pays more unless your direct deposits pass $10,000 in 90 days. The Chase checking bonus is a flat $400 for $1,000 or more in direct deposits within 90 days of offer enrollment. The Bank of America checking bonus is tiered on your qualifying direct deposits in the first 90 days after opening, and it pays nothing under $2,000. Between $2,000 and $9,999, Chase's $400 still beats Bank of America's $100 or $300.

Bank of America offers can be targeted. Its terms say it may present different checking offers by mail, email, online or in person, with their own amounts and rules, and that you only get the bonus for the offer you enroll in. If one arrived in your mailbox, compare it with the public tiered offer, which you enroll in on the offer page or through a Bank of America or Merrill associate.

What counts as a direct deposit for the Chase and Bank of America bonuses?

Chase and Bank of America both want income from a payer, not money you move yourself. Chase counts an electronic deposit of a paycheck, pension or government benefits from your employer or the government. Bank of America counts a direct deposit of regular monthly income, such as salary, pension or Social Security, sent by your employer or another payer.

• Chase leaves out check deposits, Zelle and other person-to-person payments, transfers from other accounts, tax refunds, dividends, retirement distributions, debit card transactions and wires.
• Bank of America leaves out teller deposits, wires, debit card transfers, ATM deposits, Online and Mobile Banking transfers, and transfers from a bank, brokerage or Merrill account.

When do the Chase and Bank of America bonuses pay out?

Chase pays its bonus within 15 days after you meet the requirements, so a deposit that completes it on day 90 means payment by about day 105. Bank of America waits for the 90-day Deposit Period to end, totals your deposits, then tries to pay within 60 days, which can stretch to about day 150.

Keep the account open until the money lands at either bank. Chase says the account must not be closed or restricted at payout. Bank of America says it must be open and in good standing through the day it pays, and it may first ask for a completed IRS Form W-9 or W-8.

How do you avoid the Chase Total Checking monthly fee and the Advantage Plus fee?

The Chase Total Checking monthly fee is $15, and the Bank of America Advantage Plus fee is $12. Chase waives it with $500 or more in qualifying electronic deposits in the statement period. Bank of America waives Advantage Plus with one qualifying direct deposit of $250 or more in the cycle, the easier bar if your paycheck lands there.

A balance works too. Chase wants $1,500 at the start of each day, or a $5,000 average beginning-day balance across linked Chase deposits and investments. Bank of America wants a $1,500 minimum daily balance or a BofA Rewards tier of Preferred Plus or higher. Chase skips the fee for at least the first two statement periods on a new account.

Bank of America's bonus also works with two other accounts. Advantage SafeBalance costs $4.95, has no paper checks and no Overdraft Item Fees, and is free while an owner is under 25. Advantage Relationship costs $25, earns interest, and needs a $20,000 minimum daily balance or Preferred Plus to waive the fee.

Which charges less for overdrafts and ATMs, Chase or Bank of America?

Bank of America charges less for both. Its Overdraft Item Fee is $10, at most two a day, and it never applies to everyday one-time debit card purchases or ATM withdrawals. Chase charges $34 per item, at most three a business day ($102), though Chase Overdraft Assist skips the fee if you are overdrawn by $50 or less at the end of the day or get back within $50 by the end of the next business day.

At another bank's ATM, Bank of America charges $2.50 in the U.S. and Chase charges $3. Both charge $5 abroad, and the ATM owner can add its own fee.

Does Chase or Bank of America have more branches?

Chase has more branches. Chase says its accounts come with more than 5,000 branches and 14,000 ATMs, while Bank of America's checking pages say only "thousands" of financial centers and ATMs. FDIC data as of June 30, 2026 lists 5,176 domestic offices for JPMorgan Chase Bank and 3,598 for Bank of America. Both banks offer Zelle in their apps.

What do Chase Private Client and BofA Rewards add?

BofA Rewards starts at a much lower balance than Chase Private Client. BofA Rewards is free with an eligible personal checking account, and its tiers follow your combined average balance in qualifying Bank of America deposit and investment accounts: Member with no minimum, Preferred Plus at $30,000, Preferred Honors at $100,000 and Premier at $1,000,000.

Preferred Plus and up waive the monthly fee on Advantage checking and savings. Preferred Plus also covers one withdrawal and one transfer per cycle at other banks' U.S. ATMs, including the operator's fee. Preferred Honors and Premier cover all of them, and Premier waives every Overdraft Item Fee.

Chase Private Client Checking costs $35 a month, waived with a $150,000 average beginning-day balance across linked deposits and investments, and lists no fees on ATMs worldwide and no Chase wire fees. Chase Sapphire Checking, the $75,000 tier, no longer takes new accounts.

What savings rates do Chase and Bank of America pay?

Chase and Bank of America both price savings by ZIP code, and neither publishes a single national rate. Chase asks for a ZIP code before showing its rate table, and Bank of America points to a rate sheet for your area. The only rate in Bank of America's offer terms is for Advantage Relationship checking: 0.01% APY under $50,000 and 0.02% from $50,000, as of October 1, 2026.

Chase Savings costs $5 a month, waived with a $300 balance at the start of each day, $25 or more in repeating transfers from Chase checking, or an owner under 25, among other options. Bank of America Advantage Savings costs $8, waived for six months on new accounts, then with a $500 minimum daily balance, an owner under 25 or Preferred Plus, among others. The high-yield savings calculator shows what a higher rate elsewhere would earn.

Are Chase and Bank of America checking bonuses taxable?

Yes, both checking bonuses are taxable. Chase treats its bonus as interest and reports it on IRS Form 1099-INT. Bank of America says its bonus may be taxable income, that it may issue a Form 1099, and that it may withhold tax where the law requires. The IRS says you must report all taxable interest even if no Form 1099-INT arrives, so count the tax when you compare a $400 and a $500 bonus.

Should you open Chase or Bank of America checking?

Start with how much income you can send to the new account in its first 90 days.

• $1,000 to $9,999 in direct deposits: Chase's $400, open through January 27, 2027.
• $10,000 or more: Bank of America's $500, open through January 31, 2027, with a slower payout.
• A smaller paycheck and a low fee: Bank of America Advantage Plus, waived with one $250 direct deposit.
• You overdraw now and then: Bank of America's $10 fee, or SafeBalance with none, costs less than Chase's $34.
• Both bonuses: neither offer mentions the other bank, so you could split deposits if each account gets enough within its own 90 days.

How do you keep track of the bonus deadlines?

Write down three dates when you open: the end of the 90-day deposit window, the latest payout date and the earliest day you plan to close. doddo's tracker works those out from your opening date and shows them under Coming up in your Money Inbox, and its bank bonus pages include Chase checking; new doddo accounts are on a waitlist for now. For app-based accounts with direct deposit bonuses, see Chime vs SoFi.