Bank of America refuses 3K bonus for new account, couple says (2024)

Mark and Leslie Gottlieb thought they found a way to earn some extra cash using a promotion from sister companies Merrill Lynch and Bank of America.

Customers who opened accounts at both institutions would get a cash bonus 120 days later. The amount of the bonus would depend on several factors, including how much was invested.

The Gottliebs selected an option that would give them $3,000 each, deposited into a new Bank of America account, after 120 days had passed as long as they maintained certain minimum balances. They would also have to keep the accounts “active,” which the promotion defined as having at least one login to the Bank of America account within those first 120 days or by having “qualifying direct deposits” added to the account.

They said although the Bank of America accounts would earn measly interest even in this high interest-rate environment, the bonus would make it worth it. To maximize the opportunity, the couple each opened an account at both institutions, or four accounts in all, so they’d get $6,000 after the 120-day period ended.

The Little Ferry couple had a lot on their minds. During the 120-day timeframe, Leslie Gottlieb would spend two months at Memorial Sloan Kettering Cancer Center to treat acute myeloid leukemia, Mark Gottlieb said. So they decided to meet the bonus requirements right away when they opened up the accounts in November by each logging in to the Bank of America accounts, he said.

Then in April, as Leslie was recovering from a bone marrow transplant at Hackensack University Medical Center, where she remains as of this writing, the couple each received statements from Bank of America.

“I got the bonus and Leslie did not,” he said.

That started a cavalcade of phone calls and emails with officials from both Bank of America and Merrill Lynch, Gottlieb said, but they didn’t resolve the matter.

He said he started with two representatives at Merrill Lynch.

“Both said we should get the bonus but Bank of America doesn’t want to pay it,” he said. “(One representative) said we should get the bonus, but he inferred that Merrill customers getting a bonus from Bank of America is like fighting city hall.”

He said calls to Bank of America didn’t help, either. The bank insisted Leslie’s account hadn’t been logged into during the required time frame, something the couple disputes.

Gottlieb said he closed his Bank of America account in protest, but they left Leslie’s open, hoping the bonus would come through.

“When Leslie gets out of the hospital, we likely will close our Merrill accounts unless things are resolved fairly considering all the time I wasted when my wife is seriously ill,” Gottlieb said, and he asked Bamboozled for help.

We reviewed the details of the offer, which does indeed require one account login within the first 120 days to get the bonus.

Then we asked Bank of America to review the account history.

After several days, it said it could not offer any details on what happened because of customer privacy.

But it said enough to share some good news.

“This issue has been positively resolved, and we regret any miscommunication with our clients,” it said.

Mark Gottlieb said they didn’t hear from the bank right away, but then they received a phone call on Mother’s Day.

The $3,000 bonus was in Leslie Gottlieb’s account.

“They didn’t give any explanation for what happened,” Gottlieb said, noting the couple still plans to close the account.

We’re glad the bank upheld its bonus promise, and we wish a speedy recovery to Leslie Gottlieb.

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Karin Price Mueller may be reached at KPriceMueller@NJAdvanceMedia.com. Follow her on X at @KPMueller.