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Parent-owned

SafeBalance Banking® for Family Banking

A parent-owned account that your child can use

Open now - SafeBalance Banking for Family Banking
$---- or $0

  • Parental controls and alerts on spending

  • No monthly fee until child is age 25adatext

  • Debit card and online access available for your child

    To view all fees and additional information on how to link eligible accounts, see the Personal Schedule of Fees. You can also refer to our Clarity Statement for additional information.

For existing customersadatext, online application only

Simple

Advantage SafeBalance Banking

Simple banking with an easy-to-use experience

Open now - Advantage SafeBalance Banking
$---- or $0

  • Digital banking — no paper check writing

  • A great start for students and young adults — no monthly fee if under age 25adatext

  • Helps prevent overspending — no Overdraft Item Feesadatext

    To view all fees and additional information on how to link eligible accounts, see the Personal Schedule of Fees. You can also refer to our Clarity Statement for additional information.

Flexible

Advantage Plus Banking

Flexible banking to meet your needs

Open now - Advantage Plus Banking
$---- or $0

  • Digital banking with a variety of payment options

  • Multiple ways to waive your monthly maintenance fee, including direct deposit

  • Offers Balance Connect® for overdraft protectionadatext

    To view all fees and additional information on how to link eligible accounts, see the Personal Schedule of Fees. You can also refer to our Clarity Statement for additional information.

Comprehensive

Advantage Relationship Banking

Comprehensive banking to make the most of your banking relationship

Open now - Advantage Relationship Banking
$---- or $0

  • Earns interest

  • $0 monthly maintenance fee on up to 7 eligible accounts when you linkadatext them to your primary Relationship Banking account

  • No fees on select banking servicesadatext

    To view all fees and additional information on how to link eligible accounts, see the Personal Schedule of Fees. You can also refer to our Clarity Statement for additional information.

Monthly maintenance fee

SafeBalance Banking® for Family Banking

$---- or $0

$0 for each statement cycle that:

You maintain a minimum daily balance of $---- or more in your account

OR

Your child is under age 25[1]

OR

An account owner is a member of the Preferred Rewards program.[2]

  1. Fiduciary accounts, including trust and estate accounts, do not qualify for the under the age of 25 requirement to waive the monthly maintenance fee. Additionally, accounts do not qualify for the under the age of 25 requirement to waive the monthly fee based on the age of the Payable on Death beneficiary. Please refer to the Personal Schedule of Fees for more information.
  2. For Preferred Rewards members in the Gold, Platinum, or Platinum Honors tiers, the monthly maintenance fee waiver applies to the first 4 checking and 4 savings accounts. The monthly maintenance fee waiver is unlimited for clients in the Diamond Honors tier. For Preferred Rewards program eligibility requirements, go to Preferred Rewards. For SafeBalance Banking® for Family Banking accounts, the parent owner can participate in the Preferred Rewards program but their child using the account cannot.

Monthly maintenance fee

Advantage SafeBalance Banking

$---- or $0

$0 for each statement cycle that:

You maintain a minimum daily balance of $---- or more in your account

OR

An account owner is under age 25[1]

OR

An account owner is a member of the Preferred Rewards program.[2]

  1. When you add an owner under the age of 25 to an existing account, it may take 3 business days before your account meets the requirement to have the monthly maintenance fee waived. Fiduciary accounts, including trust and estate accounts, do not qualify for the under the age of 25 requirement to waive the monthly maintenance fee. Additionally, accounts do not qualify for the under the age of 25 requirement to waive the monthly fee based on the age of the Payable on Death beneficiary. Please refer to the Personal Schedule of Fees for more information
  2. For Preferred Rewards members in the Gold, Platinum, or Platinum Honors tiers, the monthly maintenance fee waiver applies to the first 4 checking and 4 savings accounts. The monthly maintenance fee waiver is unlimited for clients in the Diamond Honors tier. For Preferred Rewards program eligibility requirements, go to Preferred Rewards.

Monthly maintenance fee

Advantage Plus Banking

$---- or $0

$0 for each statement cycle that:

You maintain a minimum daily balance of $---- or more in your account

OR

You have at least 1 qualifying direct deposit of $---- or more made to your account

OR

An account owner is a member of the Preferred Rewards program[1]

  1. For Preferred Rewards members in the Gold, Platinum, or Platinum Honors tiers, the monthly maintenance fee waiver applies to the first 4 checking and 4 savings accounts. The monthly maintenance fee waiver is unlimited for clients in the Diamond Honors tier. For Preferred Rewards program eligibility requirements, go to Preferred Rewards.

Monthly maintenance fee

Advantage Relationship Banking

$---- or $0

$0 for each statement cycle that:

You maintain a minimum daily balance of $---- or more in your account

OR

An account owner is a member of the Preferred Rewards program[1]

  1. For Preferred Rewards members in the Gold, Platinum, or Platinum Honors tiers, the monthly maintenance fee waiver applies to the first 4 checking and 4 savings accounts. The monthly maintenance fee waiver is unlimited for clients in the Diamond Honors tier. For Preferred Rewards program eligibility requirements, go to Preferred Rewards.

Bank of America Advantage SafeBalance Banking® for Family Banking

  • $0 Liability Guaranteeadatext
  • Custom alerts adatext
  • Erica® virtual financial assistant age 13+ adatext
  • Parent can withdraw and deposit money with
  • Optional child debit card and Online Banking login
  • Child can withdraw, but not deposit money

Bank of America Advantage SafeBalance Banking®

  • $0 Liability Guaranteeadatext
  • Custom alertsadatext
  • Erica® virtual financial assistantadatext

  • Bank On certified

    SafeBalance® is certified as meeting Bank On National Account Standards for safe and affordable bank accounts.

Bank of America Advantage Plus Banking®

  • $0 Liability Guaranteeadatext
  • Custom alertsadatext
  • Erica® virtual financial assistantadatext

Bank of America Advantage Relationship Banking®

  • $0 Liability Guaranteeadatext
  • Custom alertsadatext
  • Erica® virtual financial assistant adatext
  • adatext
  • No fees on
  • $0 monthly maintenance fee on up to 7 eligible accounts when you linkadatext them to your primary Advantage Relationship Banking account

SafeBalance Banking® for Family Banking

$XXXX or $0

$0 for each statement cycle that:

You maintain a minimum daily balance of $500 or more in your account

OR

Your child is under age 25adatext

OR

An account owner is a member of the Preferred Rewards programadatext

Advantage Safebalance Banking

$XXXX or $0

$0 for each statement cycle that:

You maintain a minimum daily balance of $500 or more in your account

OR

An account owner is under age 25adatext

OR

An account owner is a member of the Preferred Rewards programadatext

Advantage Plus Banking

$XXXX or $0

$0 for each statement cycle that:

You maintain a minimum daily balance of $1,500 or more in your account

OR

You have at least 1 qualifying direct deposit of $250 or more made to your account

OR

An account owner is a member of the Preferred Rewards programadatext

Advantage Relationship Banking

$XXXX or $0

$0 for each statement cycle that:

You maintain a minimum daily balance of $20,000 or more in your account

OR

An account owner is a member of the Preferred Rewards programadatext

Parental controls

As the parent owner, you can set limits on your child's spending for amounts and certain categories.

Limitations on parent deposits

As the parent, you can add money to this account by:

  • Transfer from your Bank of America checking or savings accounts
  • Mobile check deposit
  • ATM

This account does not offer external money transfers into the account, including direct deposit, wires, ACH transactions and transfers from other banks.

Child login at age 6 or older with limitations

This account provides a limited online experience for your child.

Children age 6 or older can have their own Online Banking login and can:

  • View account balances
  • Monitor transactions
  • Set alerts

Here are some things they can't do:

  • See or access your other Bank of America accounts
  • Deposit money
  • Lock or unlock their debit card

For a full list of what your child can do with this account, refer to the Personal Schedule of Fees.

Direct deposit

When you set up direct deposit, your paycheck or other recurring deposits are sent to your account automatically.

Earns interest

APY (Annual Percentage Yield)

Balance: Less than $50,000

APY: 0.01%

Balance: $50,000 and over

APY: 0.02%

Select banking services

Select banking services include:

  • Standard checks
  • Incoming domestic wires
  • Stop payments
  • Outgoing wires sent in foreign currency
  • Statement paper copies

See the Personal Schedule of Fees for details

Zelle®

A fast and easy way to send and receive money online with friends and family.

Eligible Bank of America account and login

To open a SafeBalance for Family Banking account, you must already have a personal Bank of America checking or savings account. Small business and Merrill Lynch accounts do not qualify.

You must also have an Online Banking login.

Balance Connect® for overdraft protection

You can link up to 5 eligible Bank of America accounts to this checking account to cover transactions. When there isn't enough money in your checking account to pay for an item, available funds are automatically transferred from the linked backup accounts to your checking account. There’s no transfer fee, but other charges may apply. For example, transfers from a linked credit card or HELOC may result in interest charges.

Overdraft settings:
Standard or Decline All

Choose how you want us to handle checks and scheduled payments when there isn’t enough money in your checking account to cover transactions.

We won't authorize ATM withdrawals or debit card purchases when there’s not enough money in your account to cover the transactions. For other payments, at our discretion, we may authorize and pay the item and overdraw your account (an overdraft item), or decline or return the item unpaid (a returned item). Review the Deposit Agreement and Disclosures and Personal Schedule of Fees for details.

Standard setting

Your checks and scheduled payments may be paid and cause an overdraft. There’s a $10 fee[1] when we make the payment and overdraw your account. We won’t charge a fee for the returned items, but the payee may.

Decline All setting

Your checks and scheduled payments will be declined or returned unpaid. We won’t charge a fee for returned items, but the payee may.

1. We’ll charge an Overdraft Item Fee for each item that we authorize and pay, including recurring debit card payments. We will not charge a fee to your account when we decline or return an item unpaid; however, you may be charged a fee by the payee. Please see the Personal Schedule of Fees for your account for more details.

Fast, secure sign-in

Log in to our mobile app with Touch ID®, Face ID® or your fingerprint.adatext

Custom alerts

Set alertsadatext for account changes, like unusual activity, payments and more.

Debit card controls

Lock a debit cardadatext to prevent unauthorized use, request a digital cardadatext and more.

Digital tools to help you in your day-to-day

Spending and Budgeting tool screen in mobile app
Mobile check deposit screen in mobile app
Erica screen in mobile app

Manage your account on the go with our mobile appadatext

Download from Apple App Store
Download from Google Play

Earn rewards and save with Bank of America

Keep the Change®

Build your savings with Keep the Change. We'll round up your Bank of America debit card purchases to the nearest dollar and transfer the difference to savings.adatext

Learn more about Keep the Change

BankAmeriDeals®

Log in to your account to add deals for select restaurants and stores.adatext Get up to 10% cash back when you pay with your eligible Bank of America debit or credit card.

Learn more about BankAmeriDeals

Preferred Rewards

Earn rewards when you have a Bank of America checking account and $20,000 or more across eligible accounts. Save on fees, get a 25%-75% bonus on certain credit cards, receive lending discounts and more.

Learn more about Preferred Rewards

Just starting out?

There is no monthly maintenance fee on our Advantage Safebalance Banking account if you're under age 25.adatext

Learn more about banking for students and young adults

Resources to help you achieve your financial goals

Online Banking

Have an account with us, but need online access? Enroll in Online Banking today.

Enroll now
Better Money Habits®

Find videos, articles and tips to help you better manage your financial life.

Learn more about Better Money Habits
New to the U.S.?

Better Money Habits has resources on navigating your finances.

Learn more about resources on navigating your finances

Frequently asked questions

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Have more questions? Find answers at Bank of America Help

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