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Fees at a Glance

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Please tell us where you bank so we can give you accurate rate and fee information for your location.

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NOTE: Important changes to some of our products will begin January 30, 2021.

For Metro New York, please refer to the Business Schedule of Fees for Metro New York for more information
For Upstate New York, please refer to the Business Schedule of Fees for Upstate New York for more information

Please refer to the Business Schedule of Fees for more information

Effective:

Account Fees

Checking Accounts
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Business Fundamentals® Checking

Fee Type: Monthly fee

Fee:  

Pay no monthly maintenance fee for Business Fundamentals® Checking when you meet one of the following requirements each statement cycle:

Pay no monthly maintenance fee for Business Fundamentals when you meet one of the following requirements each statement cycle:

  • Spending per month in new purchases using a linked Bank of America business debit or credit card
  • Maintaining a minimum daily balance of
  • Maintaining an average monthly balance of
  • Maintaining a combined average monthly balance of in linked accounts
  • Enrollment in the Preferred Rewards for Business program (waiver applies to first 4 business checking accounts per enrolled business)
Business Advantage Checking

Fee Type: Monthly fee

Fee:  

Pay no monthly maintenance fee for Business Advantage Checking when you meet one of the following requirements each statement cycle:

Pay no monthly maintenance fee for Business Advantage when you meet one of the following requirements each statement cycle:

  • Spending per month in new purchases using a linked Bank of America business credit card
  • Qualifying active use of Merchant Services or Payroll Services
  • Maintaining an average monthly balance of
  • Maintaining a combined average monthly balance of in linked business accounts
  • Enrollment in the Preferred Rewards for Business program (waiver applies to first 4 business checking accounts per enrolled business)
Business Interest Checking

Fee Type: Monthly maintenance fee

Fee:  

To prevent this fee, maintain at least one of the following balances:

  • minimum daily balance
  • average monthly balance
  • combined minimum daily balance
  • combined average monthly balance
  • Enrollment in the Preferred Rewards for Business program (waiver applies to first 4 business checking accounts per enrolled business)
Full Analysis Business Checking

For pricing and fee details, please call the number on the front of your deposit statement.

A cost-effective analyzed account for businesses with high checking balances to offset some or all monthly fees and greater banking-service needs. Full Analysis Business Checking is designed for larger businesses that:

  • Have high checking balances, typically greater than $60,000
  • Have more than 400 checks paid and 200 deposited items each month
  • Use Treasury Management services, such as Electronic Positive Pay and Automated Clearing House (ACH) services
Public Service Trust Account

Any fees are deducted from interest.

  • This account complies with the requirements of the IOLTA program for the state where it is opened.
  • Interest, less permissible fees, is paid to the state program.
  • You are responsible for fees that the state program does not permit to be paid from the interest. Consult your financial advisor about your state's requirements.
Savings Accounts
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Business Advantage SavingsBusiness Interest Maximizer™

Fee Type: Monthly maintenance fee

Fee:  

To prevent this fee, meet one of the following requirements during each savings statement cycle:

  • minimum daily balance
  • Include 1 Business Advantage Savings account as part of your Business Advantage Checking solution
  • Enroll in the Preferred Rewards for Business program (waiver applies to first 4 business savings accounts, per enrolled business)Enrollment in the Preferred Rewards for Business program (waiver applies to first 4 business savings accounts, per enrolled business)
Business Investment Account

Fee Type: Monthly maintenance fee

Fee:  

To prevent this fee, meet one of the following requirements during each savings statement cycle:

  • minimum daily balance (the sum of daily balances in the billing period divided by the number of days in that billing period)
  • Enroll in the Preferred Rewards for Business program (waiver applies to first 4 business savings accounts, per enrolled business)Enrollment in the Preferred Rewards for Business program (waiver applies to first 4 business savings accounts, per enrolled business)
  • Include 1 Business Investment Account as part of your Business Fundamentals Checking solution
Time Deposits/CDs
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CD Terms of 7 days — 27 days

A penalty is imposed for early withdrawal.

A minimum deposit is needed to open an account.

  • This account features a fixed interest rate until maturity.
  • No additional deposits can be made until maturity.
  • Automatically renews at maturity unless you choose the single maturity option. Single maturity CDs will not earn interest after the maturity date.
CD Terms of 28 days — 10 years

A penalty is imposed for early withdrawal.

A minimum deposit is needed to open an account.

For CDs with terms longer than 31 days, we will send you a maturity notice prior to renewal. Please read it carefully. If we change the type, term or any other features of your CD, you will be advised of these changes in the maturity notice.

  • This account features a fixed interest rate until maturity.
  • No additional deposits can be made until maturity.
  • Automatically renews at maturity unless you choose the single maturity option. Single maturity CDs will not earn interest after the maturity date.
Service Fees & Other Information

Checking Accounts
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Business Fundamentals® CheckingBusiness Fundamentals®
Fee TypeFee
Transactions including: Checks paid/Other debits/Deposited itemsNo fee for first 200 transactions per statement cycle; $0.45 per item thereafter
Cash Deposit ProcessingNo fee for first $7,500 in cash deposited per statement cycle; then $0.30 per $100 deposited thereafter
Business Advantage CheckingBusiness Advantage
Fee TypeFee
Transactions including: Checks paid/Other debits/Deposited itemsNo fee for first 500 transactions per statement cycle; $0.45 per item thereafter
Cash Deposit ProcessingNo fee for first $20,000 in cash deposited per statement cycle; then $0.30 per $100 deposited thereafter
Business Interest Checking

You may link this account to your business checking account for overdraft protection on the checking account. After doing so, the business checking account will be protected from overdraft fees if sufficient funds are in the linked savings.

Point-of-sale transactions include use of your debit card to pay for goods and services.

Fee TypeFee
Transactions including: Checks paid/Other debits/Deposited itemsNo fee for first 150 transactions per statement cycle; $0.45 per item thereafterNo fee for first 200 transactions per statement cycle; $0.50 per item thereafter
Cash Deposit ProcessingNo fee for first $7,500 in cash deposited per statement cycle; then $0.30 per $100 deposited thereafter
Full Analysis Business Checking

For pricing and fee details, please call the number on the front of your deposit statement.

Public Service Trust Account

Any fees are deducted from interest.

Savings Accounts
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Business Advantage Savings

You may link this account to your business checking account for overdraft protection on the checking account. After doing so, the business checking account will be protected from overdraft fees if sufficient funds are in the linked savings.

Point-of-sale transactions include use of your debit card to pay for goods and services.

Fee TypeFee
Cash Deposit ProcessingNo fee for first $5,000 in cash deposited per statement cycle; then $0.30 per $100 deposited thereafter
Deposited ItemsNo fee for first 25 transactions per statement cycle; $0.45 per item thereafterNo fee for first 25 transactions monthly; $0.45 per item thereafter
Transaction LimitThe Deposit Agreement and Disclosures limits the number of certain types of withdrawals and transfers from a savings account to a total of six (6) each monthly statement cycle, including Online and Mobile Banking transfers or payments. If you exceed these limits on more than an occasional basis, we may revoke your privileges on that account or we may convert your savings account to a checking account that may no longer earn interest. See the Deposit Agreement and Disclosures for details.

Effective November 7, 2020, all Business Advantage Savings accounts will be permanently set to the Decline All Overdraft Setting. This means that when we determine that you do not have sufficient available funds in your account to cover an item, we will decline or return it unpaid. If this happens, we won’t charge you an Overdraft Item or NSF: Returned Item fee, however third parties may charge you fees for any declined or returned transactions. Please note that your account balance may still become negative.

Business Investment Account

You may link this account to your business checking account for overdraft protection on the checking account. After doing so, the business checking account will be protected from overdraft fees if sufficient funds are in the linked savings.

You may write checks on this account up to a total of 3 checks and point-of-sale transactions each statement cycle.

  • A Business ATM Card lets you access Bank of America ATMs to make deposits, withdrawals or transfers.
  • A Business Deposit Card lets you or your employees make deposits to your business checking or savings accounts at Bank of America ATMs.
Fee TypeFee
Cash Deposit ProcessingNo fee for first $5,000 in cash deposited per statement cycle; then $0.30 per $100 deposited thereafter
Deposited ItemsNo fee for first 25 transactions per statement cycle; $0.45 per item thereafterNo fee for first 25 transactions monthly; $0.45 per item thereafter
Transaction LimitThe Deposit Agreement and Disclosures limits the number of certain types of withdrawals and transfers from a savings account to a total of six (6) each monthly statement cycle, including Online and Mobile Banking transfers or payments. If you exceed these limits on more than an occasional basis, we may revoke your privileges on that account or we may convert your savings account to a checking account that may no longer earn interest. See the Deposit Agreement and Disclosures for details.

Effective November 7, 2020, all Business Investment Accounts will be permanently set to the Decline All Overdraft Setting. This means that when we determine that you do not have sufficient available funds in your account to cover an item, we will decline or return it unpaid. If this happens, we won’t charge you an Overdraft Item or NSF: Returned Item fee, however third parties may charge you fees for any declined or returned transactions. Please note that your account balance may still become negative.

Effective November 7, 2020, all Business Advantage Savings accounts will be permanently set to the Decline All Overdraft Setting. This means that when we determine that you do not have sufficient available funds in your account to cover an item, we will decline or return it unpaid. If this happens, we won’t charge you an Overdraft Item or NSF: Returned Item fee, however third parties may charge you fees for any declined or returned transactions. Please note that your account balance may still become negative.

Other Account Fees and Services
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Analyzed Accounts

Please note: Separate fees apply to analyzed accounts.

ATM

Fee Type: Bank of America ATM (an ATM that prominently displays the Bank of America name and logo)

Fee: No fee

Fee for withdrawals, deposits, transfers, payments and balance inquiries at a Bank of America ATM

  • Deposits and payments may not be available at some ATMs.
  • Transaction fees may apply to some accounts. See the disclosure information that accompanied your card for other fees that may apply. To obtain a copy of that information, call the number on your statement or visit your nearest banking center.

Fee Type: Non-Bank of America ATM (an ATM that does not prominently display the Bank of America name and logo)

Fee: $2.50 per transaction

Fee for withdrawals, transfers and balance inquiries at a non-Bank of America ATM located in the United States.

  • Clients in the Preferred Rewards for Business Platinum tier using a Bank of America Debit or ATM card are not charged the non-Bank of America ATM fee for 1 withdrawal, 1 transfer and 1 balance inquiry per statement cycle from a non-Bank of America ATM in the U.S., and receive a refund of the ATM operator fee for 1 withdrawal, 1 transfer and 1 balance inquiry per statement cycle from a non-Bank of America ATM in the U.S.
  • Clients in the Preferred Rewards for Business Platinum Honors tier using a Bank of America Debit or ATM card are not charged the non-Bank of America ATM fee for withdrawals, transfers and balance inquiries from non-Bank of America ATMs in the U.S., and receive a refund of the ATM operator fee for withdrawals, transfers and balance inquiries from non-Bank of America ATMs in the U.S.

Fee Type: Fee for withdrawals, transfers and balance inquiries at a non-Bank of America ATM located in a foreign country.

Fee: $5 per transaction

Please note:

  • When you use a non-Bank of America ATM, you may also be charged a fee by the ATM operator or any network used and you may be charged a fee for a balance inquiry even if you do not complete a funds transfer.
  • Non-Bank of America ATM fees are in addition to other account fees that may apply to the transaction, such as the fee for an excess withdrawal from savings.

See the disclosure information that accompanied your card for other fees that may apply. To obtain a copy of that information, call the number on your statement or visit your nearest banking center.

The non-Bank of America ATM fees do not apply at some ATMs located outside the United States. You will not pay a transaction fee when you use ATMs of our Global Alliance partner banks in the following countries:

  • Barclays (United Kingdom)
  • BNP Paribas (France)
  • China Construction Bank (China)
  • Deutsche Bank (Germany)
  • Scotiabank (Canada and Mexico)
  • Westpac (Australia and New Zealand)

Note: Participation in this program is subject to change, please review participating Financial Institutions prior to travelling internationally and using International Partner ATMs.

Cash Processing

Fee Type: Bulk Coin

Fee: No fee

Fee for withdrawals, deposits, transfers, payments and balance inquiries at a Bank of America ATM

Full Fed bag (bags containing loose coin in standard amounts ready for shipment to the Federal Reserve)

Standard coin amounts:

  • Quarters - $1,000
  • Dimes - $1,000
  • Nickels - $200
  • Pennies - $50

Fee Type: Mixed denomination bag (loose coin/partial bags)

Fee: No fee

Check Cashing

Please note: A payee presenting a check that you issued may be assessed a fee if the payee is not a Bank of America customer.

Business Checking account holders can agree to assume the responsibility for this fee on behalf of their payee(s) — an analyzed account is required to do so. Please visit your banking center or call the number on the front of your deposit statement to learn more about alternatives.

Fee TypeFee
Bank of America customerNo fee
Non-relationship customer
  • Checks drawn on Bank of America business accounts
$8 per check
Check Image Service Fee

Fee:  $3 per statement cycle (Fee waived for Business Advantage Checking accounts)

Fee:  $3 per statement cycle (Fee waived for Business Advantage accounts)

  • We provide you with images of the front and back of your canceled checks with your monthly statement.
  • Each account statement includes images of checks (up to five per page) that posted to your account during the statement cycle.
  • We do not return your cancelled checks.
  • Our Online Banking service allows you to view and print copies of checks that posted to your account within the last 12 months. Or you can request check copies by visiting your nearest Bank of America banking center, or calling the customer service number on your statement.
  • All accounts included in the Business Advantage Checking solution and clients enrolled in the Preferred Rewards for Business program qualify for a waiver of this fee.
Check Safekeeping Services

Fee:  No fee

  • We store copies of cancelled checks for seven years and do not return them with your statement.
  • Our Online Banking service allows you to view and print copies of checks that posted to your account within the last 90 days.
Check Copy Fee
Fee TypeFee
Check copies:
  • No fee for the first 2 copies of each request. After 2 copies there is a $3 fee for each copy, up to a maximum of $75 per request. This fee does not apply to accounts opened in Massachusetts and New Hampshire.
  • You can often avoid this fee by viewing and printing your available checks in Online Banking. To determine what checks are available, please sign into Online Banking, and select the Activity tab.
  • All accounts included in the Business Advantage Checking solution and clients enrolled in the Preferred Rewards for Business program qualify for a waiver of this fee.
$3
Deposit slips and other credit items$3
Debit Card Fees

Fee Type: Replacement ATM or Debit Card Fee

Fee: $5 per card

Fee for each requested replacement of an ATM card or debit card, including the replacement of a debit sticker (tag) or other debit access device. The replacement fee does not apply when we replace a card upon its expiration.

Bank of America Advantage® accounts qualify for a waiver of this fee.

All accounts included in the Business Advantage Checking solution and clients enrolled in the Preferred Rewards for Business program qualify for a waiver of this fee.

Fee Type: Rush Replacement ATM or Debit Card Fee

Fee: $15

Fee: $15 per card

Fee for each requested rush delivery of an ATM card or debit card, including the requested rush delivery of a debit sticker (tag) or other debit access device. A replacement ATM card or debit card fee may also apply and would be in addition to the rush delivery fee.

Bank of America Advantage® accounts qualify for a waiver of this fee.

All accounts included in the Business Advantage Checking solution and clients enrolled in the Preferred Rewards for Business program qualify for a waiver of this fee.

Deposit Bags
Fee TypeFee
Quick Business Deposit® (QBD®) bag processing, with sealable plastic bag to hold checks and cash for depositNo fee
Canvas Bag Processing (lockable canvas bag to holds checks and cash for deposit)No fee
Plastic Deposit Bags Purchase (plastic bags used for QBD service and deposit processing)At cost
Deposited Item Recleared

Fee:  $14 each item

Deposited Item Returned or Cashed Item Returned
Fee TypeFee
Domestic deposited item returned$12 per item
Foreign deposited item returned$15 per item
Non-Bank of America Teller Withdrawal

Fee:  $5.00 per withdrawal OR 3% of the dollar amount of the transaction, whichever is greater

Fee applies when you use a teller at another bank to withdraw cash using your debit card.

Overdraft and Returned Items

Fee Type: Overdraft Items

Fee: $35 per item

We charge an Overdraft Item Fee when you make a transaction for an amount that is more than the available balance in your checking account. Transactions include writing a check, using a debit card, withdrawing cash from an ATM and any other transfer from your account(s).

While Bank of America is not required by law to pay Overdraft Items, we may do so from time to time.

Important Information

The standard Overdraft Item Fee is $35. The standard NSF: Returned Item Fee of $35 applies if we return the item unpaid.

Please note: You may be charged for a combination of no more than 4 overdraft and returned items per day.

Please note: You may be charged for a combination of no more than 4 overdraft and returned items per day.

Fee Type: Insufficient Funds: Returned Items

Fee: $35 per item

We charge an NSF: Returned Items Fee when you make a transaction for an amount that is more than the balance in your checking account and we decline or return the item unpaid (a returned item).

Overdraft Protection Transfer

Overdraft Protection links your Bank of America business checking account to another Bank of America business account- such as business savings, a second business checking, or a business credit card – and automatically transfers funds to cover purchases and prevent returned checks when you don’t have enough money in your checking account.

For Transfers from Business Savings or Business Checking

Fee Type: For Transfers from Business Savings or Business Checking

Fee: $12 per transfer

Fee: $12 per transfer

Available funds from your savings or second checking account are automatically transferred to your checking account if you should overdraw your account.

  • Preferred Rewards for Business clients qualify for a waiver of this fee for transfers from a linked Bank of America business savings or secondary business checking account.

For Transfers from a Business Credit Card

Fee Type: For Transfers from a Business Credit Card

Please see your Business Card Agreement or call the number on your statement for information about Overdraft Protection fees

Available funds from your Bank of America business credit card are automatically transferred to your checking account if you should overdraw your account

Overdrafts — Extended Overdrawn Balance

Fee:  $35

The Extended Overdrawn Balance Charge applies when we determine that your account has been overdrawn for five or more consecutive business days. For each time that your account is overdrawn five or more consecutive business days, we charge one Extended Overdrawn Balance Charge.

You can prevent this fee by depositing enough available funds in your account to cover your overdraft plus any fees we assessed within the first five consecutive business days.

Please note: The Extended Overdrawn Balance Charge fee is in addition to applicable Overdraft Item Fees and NSF: Returned Item Fees.

Statement Copy Fee

Fee:  $5 per copy

You can often avoid this fee by viewing and printing your available statements in Online Banking instead of ordering the copy from us.

To determine what statements are available, sign into Online Banking and select the Statements and Documents tab.

Stop Payment

Fee:  $30 per request or renewal

All accounts included in the Business Advantage Checking solution and clients enrolled in the Preferred Rewards for Business program qualify for a waiver of this fee.

Teller

Fee:  $5.00 per withdrawal OR 3% of the dollar amount of the transaction, whichever is greater

(This fee is effective beginning November 8, 2013.)

Wire Transfers and Drafts

Fee:  Fee varies

Incoming or Outgoing wire transfers and drafts (U.S. or International)

Incoming Domestic and Incoming International Wire Transfer fees are waived for the primary and included accounts in the Business Advantage Checking solution.

Incoming Domestic and Incoming International Wire Transfer fees are waived for the primary and included accounts in the Business Advantage solution.

Preferred Rewards for Business clients qualify for a waiver of our standard wire fee for incoming domestic wire transfers. The standard wire fee for incoming international wire transfers is only waived for Preferred Rewards for Business clients in the Platinum and Platinum Honors tiers.

Only Preferred Rewards for Business clients in the Platinum Honors tier qualify for a waiver of our standard wire fee for outbound domestic and international wires sent through the online channel (includes wires sent through Online Banking and Direct Payments). Wires sent via CashPro are not eligible for the fee waiver. Wires may be sent in either U.S. dollars or in foreign currency. The online wire fee waiver is limited to the first 4 wires sent per statement cycle, regardless of destination or currency type.

If you opened an account in Metro New York, for a printed version of the complete list of account fees, see the Business Schedule of Fees for Metro New York, also available at your banking center.

If you opened an account in Upstate New York, for a printed version of the complete list of account fees, see the Business Schedule of Fees for Upstate New York, also available at your banking center.

For a printed version of the complete list of account fees, see the Business Schedule of Fees, also available at your banking center.

Select Your State

Please tell us where you bank so we can give you accurate rate and fee information for your location.

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