How to Receive the Bank of America $25 Referral Fee Bonus

The Bank of America Refer-A-Friend program offers its customers an opportunity to earn cash rewards when someone they know opens a personal or small business checking account. The friend that opens a new account also receives a bonus.


Current Bank of America customers can earn $25 for every referral that results in a new personal or small business checking account being opened. Creating an ad on the RefAround website allows you to send out referral notices; an ad consists of your picture, name and user name. Once the ad is validated and uploaded to the database, you can send out notifications to anyone you think may want to open an account with Bank of America. When a referee opens an account and lists you as the referrer, Bank of America will issue you the $25 bonus.


Referees can earn $25 to $50 when they open an account with a referrer. Pick up a Refer-A-Friend form, which are only available at Bank of America branches. Find your referrer on the RefAround website and record his details on the Refer-A-Friend form. Take the form to Bank of America when you open your new checking account.

Bank of America has three different bonus opportunities for referees.

  1. A personal checking account opened with at least $125 and one debit purchase made within 30 days means a bonus of $25.
  2. Open a Bank of America savings account along with the personal checking account for an additional $10 bonus.
  3. Open a Bank of America savings account with at least $1,000, in addition to the checking account and you will earn an additional $25.