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Checking & Savings

Fees at a Glance

Effective: September 01,2015

Checking Accounts

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  • Hide Business Fundamentals®

    Fee Type: Monthly fee

    Fee:  $15

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

    • Spending $250 per month in new purchases using a linked Bank of America business debit or credit card
    • Maintaining a minimum daily balance of $3,000
    • Maintaining an average monthly balance of $5,000
    • Maintaining a combined average monthly balance of $15,000  in linked accounts
  • Hide Business Advantage

    Fee Type: Monthly fee

    Fee:  $29.95

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

    • Spending $2,500 per month in new purchases using a linked Bank of America business credit card
    • Qualifying active use of Bank of America Merchant Services, Payroll Services by Intuit® or Remote Deposit Online
    • Maintaining an average monthly balance of $15,000
    • Maintaining a combined average monthly balance of $35,000  in linked business accounts
  • Hide Business Interest Checking

    Fee Type: Monthly maintenance fee

    Fee:  $16

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

    • $5,000 minimum daily balance
    • $10,000 average monthly balance
    • $10,000 combined minimum daily balance
    • $20,000 combined average monthly balance
  • Hide 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
  • Hide 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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  • Hide Business Interest Maximizer™

    Fee Type: Monthly maintenance fee

    Fee:  $15

    To prevent this fee, maintain the following balance:

    • $5,000 minimum daily balance
  • Hide Business Investment Account

    Fee Type: Monthly maintenance fee

    Fee:  $10

    To prevent this fee, maintain the following balance:

    • $2,500 minimum daily balance (the sum of daily balances in the billing period divided by the number of days in that billing period)

Time Deposits/CDs

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  • Hide CD Terms of 7 days — 27 days

    A penalty is imposed for early withdrawal.

    A $15,000 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.
  • Hide CD Terms of 28 days — 10 years

    A penalty is imposed for early withdrawal.

    A $1,000 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.
  • Hide Business Risk Free CD®

    There is no penalty for withdrawals made any time after the first six days that the CD is open, or within six days of an earlier partial withdrawal.

    $5,000 minimum deposit is needed to open an account.

    • This account features a fixed interest rate until maturity.
    • Automatically renews.
    • No additional deposits can be made until maturity.
    • Prior to renewal, we will send you a maturity notice. 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.

Checking Accounts

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  • Hide Business Fundamentals®
    Fee TypeFee
    Transactions including: Checks paid/Other debits/Deposited items No fee for first 200 transactions monthly; $0.45 per item thereafter
    Deposit tickets No fee
    Cash deposited No fee for first $10,000 deposited monthly; $0.20 per $100 up to $25,000, then $0.30 per $100 for over $25,000
  • Hide Business Advantage
    Fee TypeFee
    Transactions including: Checks paid/Other debits/Deposited items No fee for first 500 transactions monthly; $0.45 per item thereafter
    Deposit tickets No fee
    Cash deposited No fee for first $25,000 deposited monthly; $0.30 per $100 deposited thereafter
  • Hide Business Interest Checking
    Fee TypeFee
    Transactions including: Checks paid/Other debits/Deposited items No fee for first 150 transactions monthly; $0.45 per item thereafter
    Deposit tickets No fee
    Cash deposited No fee for first $10,000 deposited monthly; $0.20 per $100 deposited thereafter
  • Hide Full Analysis Business Checking

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

  • Hide Public Service Trust Account

    Any fees are deducted from interest.

Savings Accounts

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  • Hide Business Interest Maximizer™

    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 deposited No fee for first $5,000 deposited monthly; $0.20 per additional $100 deposit therafter
  • Hide 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 deposited No fee for first $5,000 deposited monthly; $0.20 per additional $100 deposit therafter

Other Account Fees and Services

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  • Hide Analyzed Accounts

    Please note: Separate fees apply to analyzed accounts.

  • Hide 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.

    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)
    • Santander Serfin (Mexico)
    • Scotiabank (Canada)
    • Westpac (Australia and New Zealand)
  • Hide 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

     

  • Hide 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 customer No fee
    Non-relationship customer
    • Checks drawn on Bank of America personal accounts
    No fee
    Non-relationship customer
    • Checks drawn on Bank of America business accounts
    $6 per check
  • Hide Check Image Service Fee

    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.
  • Hide 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.
  • Hide Copy Fee
    Fee TypeFee
    Check photocopy fee:
    • Two free each monthly statement cycle if you use our Check Safekeeping Service.
    $3
    Deposit slips and other credit items $3
  • Hide 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.

    Fee Type: Rush Replacement ATM or Debit Card Fee

    Fee: $15

    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.

  • Hide Deposit Bags
    Fee TypeFee
    Quick Business Deposit® (QBD®) bag processing, with sealable plastic bag to hold checks and cash for deposit No 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
  • Hide Deposited Item Recleared

    Fee:  $14 each item

  • Hide Deposited Item Returned or Cashed Item Returned
    Fee TypeFee
    Domestic deposited item returned $12 per item
    Foreign deposited item returned $15 per item
  • Hide 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.

  • Hide 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 or savings 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 8 overdraft and returned items per day. If we determine that your account has a negative balance for 5 consecutive business days, you receive an additional Extended Overdrawn Balance charge of $35 on the sixth 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 or savings account and we decline or return the item unpaid (a returned item).

  • Hide Overdraft Protection Transfer

    Overdraft Protection links your Bank of America checking account to another Bank of America account - such as savings, second checking, or 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.

    Fee Type: For Transfers from Savings or Checking

    Fee: $10 per transfer

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

    Fee Type: For Transfers from 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

  • Hide 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.

  • Hide Signature or Endorsement Guarantee

    Fee:  $5 per request per customer

  • Hide Stop Payment

    Fee:  $30 per request or renewal

    Fee waived for Business Advantage accounts

  • Hide Wire Transfers and Drafts

    Fee:  Fee varies

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

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