Bank Account Rates & Fees FAQs - Bank of America

Question 1

What is an overdraft item fee?

Accepted Answer

An overdraft item fee is charged when you write a check or make a withdrawal for an amount that exceeds the balance in your eligible checking or savings account and Bank of America pays the overdraft item anyway.

When we determine that your account is overdrawn after we finish processing for the day, and we pay for the transaction or transactions, we may charge an overdraft item fee of $35 per item over $1.

Your Personal accounts can be charged a maximum of 4 overdraft item fees and returned item fees in a single day. Small business accounts can be charged no more than 8 overdraft item and returned item fees per day (additional information on small business checking fees can be found on our Fees At A Glance page).

We do not charge you an overdraft item fee on an everyday non-recurring debit transaction. We also do not charge an overdraft item fee on an ATM transaction unless you agreed to our overdraft practices for that particular ATM transaction.

Although Bank of America is not obligated to pay an item if your account is overdrawn, the bank may pay these items at our discretion. If you are charged an overdraft item fee, you can view the details in your Online Banking transaction record. View our Personal Schedule of Fees for additional fee details.

Question 2

What is an overdraft protection transfer fee?

Accepted Answer

An overdraft protection transfer fee may be charged when a transaction overdraws your eligible checking or savings account and, as a result, available funds are transferred from your eligible linked overdraft protection account to cover the amount. We won’t charge this fee for any item that is $1 or less.

Question 3

How many overdraft item and returned item fees can I be charged in a single day?

Accepted Answer

Consumer accounts can be charged a maximum of 4 overdraft item fees and returned item fees in a single day. Small business accounts can be charged no more than 8 overdraft item and returned item fees per day (additional information on small business checking fees can be found on our Fees At A Glance page).

Question 4

What is a non-sufficient funds (or NSF: Returned item) fee?

Accepted Answer

When you do not have enough available funds in your account to cover an item, and we decline to pay or return the item unpaid (a returned item), we will charge an NSF: Returned item fee for each returned item over $1.

We do not charge you an NSF: Returned item fee when we decline an ATM transaction or an everyday non-recurring debit card transaction. When you do not have enough available funds in your account to cover an item, and we decline or return the item unpaid (a returned item), we charge a $35 NSF: Returned item fee. View our Personal Schedule of Fees for additional fee details.

Question 5

How much does a safe deposit box cost?

Accepted Answer

The cost varies by the size of the box. Schedule an appointment to inquire about safe deposit box availability and pricing at a financial center near you. View FAQs about safe deposit boxes

Question 6

How do I get pricing information for checking accounts?

Accepted Answer

You can receive pricing information by calling 800.432.1000 (Mon-Fri 8 a.m.-11 p.m. or Sat-Sun 8 a.m.-8 p.m., all times ET). Outside the U.S. call 1.315.724.4022 (international collect; cell phone roaming charges may apply). Refer to your Personal Schedule of Fees for additional details.

Question 7

What are the maintenance fees for checking accounts?

Accepted Answer

Maintenance fees vary by account. Explore our checking accounts options and select an account to review the details, including fees. You may avoid the maintenance fees on checking accounts by meeting certain balance or deposit requirements. Refer to the Personal Schedule of Fees for additional details.

Question 8

How do combined balances help waive the monthly maintenance fee?

Accepted Answer

When you maintain a combined balance of at least $10,000 or more each statement cycle on your Bank of America Advantage Relationship Banking™ account, the monthly maintenance fee is waived. Combined balances include:

The average daily balance in eligible linked checking and savings accounts for the statement cycle
The current balances in linked personal CDs and IRAs at the end of the Advantage Relationship Banking statement cycle
The current balance (2 business days before the end of the Advantage Relationship Banking statement cycle) in your eligible linked Merrill Edge® and Merrill Lynch® investment accounts

Question 9

How much do savings accounts cost?

Accepted Answer

Pricing and fees vary by account. Visit our savings accounts page and select an account to review the details, including pricing. You can also receive pricing information by calling 800.432.1000 (Mon-Fri 8 a.m.-11 p.m. or Sat-Sun 8 a.m.-8 p.m., all times ET). Outside the U.S. call 1.315.724.4022 (international collect; cell phone roaming charges may apply).

Question 10

What are your current CD rates?

Accepted Answer

Visit our deposit interest rates page to view current CD rates and annual percentage yields.

Question 11

What is a check enclosure fee?

Accepted Answer

A check enclosure fee is charged for returning canceled checks with your monthly statement. To change the way you receive your statements, sign in to Online Banking and go to the Statements & Documents tab for your account.

Question 12

What is a Check Image Service fee?

Accepted Answer

A Check Image Service fee is charged for returning images of your canceled checks with your monthly statement. You can receive an online version of your statement which includes images of your cancelled checks at no cost. To change the way you receive your statements, sign in to Online Banking and go to the Statements & Documents tab for your account.

Question 13

What is a stop payment fee?

Accepted Answer

This fee occurs whenever you initiate a stop payment on a check or a payment through Bill Pay.

Question 14

What late fees are charged to my accounts?

Accepted Answer

Late fees may vary by account. To avoid any late fees, please review the summary of fees to learn which fees may apply to your accounts.

Question 15

What is a non-Bank of America ATM fee?

Accepted Answer

A Non-Bank of America ATM fee occurs whenever you access an ATM outside Bank of America's network for withdrawals, transfers, or balance inquiries. In some instances, you may be charged a fee by the ATM operator or network as well. View all ATM fees FAQs for additional details.

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