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Bank Account Rates & Fees FAQs
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Please review the Important Message section of your September Statement to stay up to date on changes that could impact you.
For more information, Employees can visit Employee banking on Flagscape> Banking products> Checking accounts
For additional clarification, see the frequently asked questions below.
No. The $25 monthly maintenance fee is not changing.
Yes. To avoid the monthly maintenance fee on Advantage Relationship banking, you must maintain a combined balance of $10,000 or more in the account each statement cycle OR be enrolled in the Preferred Rewards program and qualify for the Gold, Platinum, Platinum Honors, Diamond or Diamond Honors tier.
However, effective November 3, 2023, the ways to waive the monthly maintenance fee are changing. We will no longer use a combined balance of $10,000 as a way to avoid the monthly maintenance fee. Instead, to avoid the monthly maintenance fee you will need to maintain a minimum daily balance of $20,000 or more in your Advantage Relationship Banking account during each statement cycle or be enrolled in the Preferred Rewards program and qualify for the Gold, Platinum or Platinum Honors tier (first 4 checking accounts) or Diamond or Diamond Honors tier (unlimited). You can activate enrollment in the Preferred Rewards program by visiting bankofamerica.com/preferred-rewards.
Yes. The monthly maintenance fee on Advantage Relationship Banking will continue to be waived if you are enrolled in the Preferred Rewards program and qualify for the Gold, Platinum or Platinum Honors tier (first 4 checking accounts) or Diamond or Diamond Honors tier (unlimited). You can activate enrollment in the Preferred Rewards program by visiting bankofamerica.com/preferred-rewards.
To qualify for Preferred Rewards, you must activate enrollment, have an active, eligible checking account and maintain the balance required to qualify for the Gold, Platinum or Platinum Honors tier (first 4 checking accounts) or Diamond or Diamond Honors tier (unlimited). You can activate enrollment in the Preferred Rewards program by visiting bankofamerica.com/preferred-rewards.
Yes. Existing clients will maintain the ability to waive the monthly maintenance fee on SafeBalance Banking as long as they are under the age of 25.
Effective November 3, 2023, SafeBalance Banking will provide clients with the ability to waive the monthly maintenance fee if they keep a minimum daily balance of $500 or more in the account each statement cycle. In addition, SafeBalance Banking clients can still waive their monthly maintenance fee if they are enrolled in Preferred Rewards and qualify for the Gold, Platinum or Platinum Honors tier(first 4 checking accounts) or Diamond or Diamond Honors tier (unlimited). You can activate enrollment in the Preferred Rewards program by visiting bankofamerica.com/preferred-rewards.
No, the ways to waive the monthly maintenance fee on Advantage Plus Banking are not changing. To view all fees, see the Personal Schedule of Fees. You can also refer to our Clarity Statement for additional information.
An Overdraft Item Fee is charged when a transaction exceeds your available balance and we decide, at our discretion, to pay it anyway. Please refer to the Personal Schedule of Fees for more details.
As of 5/24/22 this fee is no longer charged. Before that date this fee was charged when a transfer is made as part of the Balance Connect® for overdraft protection services Please refer to the Personal Schedule of Fees for more details.
No more than 2 Overdraft Item fees are charged per day. Please refer to the Personal Schedule of Fees for more details.
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
You can find fee information by visiting Bank Account Fees, or refer to your Personal Schedule of Fees or Clarity Statement for more information.
You can find monthly maintenance fee information by visiting Bank Account Fees, or refer to your Personal Schedule of Fees or Clarity Statement for more information.
Link your other eligible accounts to your Bank of America Advantage Relationship Banking®, Advantage with Tiered Interest Checking, Advantage Regular Checking or Regular Checking account will use those combined balances to meet the balance requirement required to avoid the monthly maintenance fee. You can generally link savings, money market savings, IRAs, CDs, some checking, and Merrill Edge or Merrill Lynch investment accounts. You must tell us what accounts you want us to link. We do not automatically link other accounts for pricing and will not link your accounts unless you tell us to do so. Please review “What does it mean to link accounts?” in the Personal Schedule of Fees under the “Frequently Asked Questions About Accounts” section for additional information on how to link eligible accounts to avoid the Monthly Maintenance Fee. We may send you a combined statement for your linked accounts. You can find monthly maintenance fee information by visiting Bank Account Fees
Qualifying direct deposits are deposits of regular monthly income (such as your salary, pension, or Social Security benefits) that are made by your employer or other payer using the account and routing numbers that you provide to them. These deposits qualify for Bank of America Advantage Plus Banking® and Senior Economy Checking monthly maintenance fee waiver.
Teller deposits, wire transfers, Online and Mobile Banking transfers, transfers from one account to another, and ATM transfers and deposits are examples of deposits that do not qualify for the monthly maintenance fee waivers.
Learn more about direct deposit and download a form to set it up with your employer
Pricing and fees vary by account. Go to savings accounts and select an account to review the details, including pricing. You can also find pricing information by visiting Bank Account Fees
Visit our deposit interest rates page to view current CD rates and annual percentage yields.
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. Log in to manage your paperless settings
This fee occurs whenever you initiate a stop payment on a check or a payment through Bill Pay.
Late fees may vary by account. To avoid any late fees, visit Bank Account Fees to learn which fees may apply to your accounts.
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.
Please review “What does it mean to link accounts?” in the Personal Schedule of Fees under the “Frequently Asked Questions About Accounts” section for additional information on how to link eligible accounts to avoid the Monthly Maintenance Fee.
No. You must tell us what accounts you want us to link to your Advantage Relationship Banking, Advantage with Tiered Interest Checking or Advantage Regular Checking account. You can do so by visiting a financial center or calling us at the number on your statement. We do not automatically link other accounts for pricing. Certain restrictions apply. Please review “What does it mean to link accounts?” in the Personal Schedule of Fees under the “Frequently Asked Questions About Accounts” section for additional information on how to link eligible accounts to avoid the Monthly Maintenance Fee.
You can give us a call at 800.432.1000 or visit your nearest financial center and ask us to link your eligible accounts to help you avoid the Monthly Maintenance fees
Please review “What does it mean to link accounts?” in the Personal Schedule of Fees under the “Frequently Asked Questions About Accounts” section for additional information on how to link eligible accounts to avoid the Monthly Maintenance Fee.
You can pay bill and make payments with your debit card, a wire transfer, an Automated Clearing House transaction (ACH), Zelle®, or through our Online and Mobile Banking Bill Pay service. If you need to write check on a regular basis and these alternatives do not work for you, you may need a traditional checking account that offers check-writing capability. Cashier's checks are also available for a fee in our financial centers.
For SafeBalance Banking, a voided check cannot be provided as a method to set up direct deposit. There are a couple of option you can choose from to set up a direct deposit on your account.
i. You can provide your employer the account number and routing number and indicate that it is a checking account.
OR
ii. You can complete the printable direct deposit enrollment form in Online Banking or ask us for the direct deposit enrollment form that you can provide to your employer
Learn more about common bank fees - and find tips to avoid them - at Better Money Habits
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