Business Advantage
Before You Apply
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You're applying for a Business Advantage Fundamentals™ Banking account
$XXXX or $0 per month
We waive the monthly fee if you do one of the following each statement cycle:
- Maintain a $5,000 combined average monthly balance
- Use your Bank of America business debit card to make at least $250 in new net qualified purchases
- Become a member of Preferred Rewards for Business
Get the most out of your Business Advantage Banking experience. You can add these additional products:
Manage funds separately for payroll or merchant settlements with a separate banking account
$XXXX/month
Separate your business card expenses from your personal card expenses
No annual fee
What is needed to apply
- Personal information (i.e. SSN and DOB) for everyone on the application, including those with at least 25% ownership
- Business formation date (month/year)
- Country and state of legal formation and primary business operation (U.S. only)
- Legal business name and DBA ("doing business as") name, if applicable
- Business Tax ID (TIN) or Employer Identification Number (EIN) provided by the IRS - sole proprietorships may use SSN
What you can expect when applying
- Application steps: Tell us about yourself > Tell us about your business > Funding & Preferences > Disclosures & Submit
- You can sign in for a faster, prefilled application if you already enrolled in Online Banking
- You can save part of your application and return later, if you are not ready to submit
- You can access chat and/or phone sales specialists real-time to help you with applying (when available)
Get a decision
- Application decisions are often immediate
- We'll let you know if anything else is needed - proof of address and state filing documents are most common
- You will also receive an email communication on your application status
