What fees are charged at Bank of America?
What fees are charged at Bank of America?
Bank of America Checking Account Fees
| Bank of America Checking Accounts | ||
|---|---|---|
| Account | Monthly Service Fee | Earns Interest |
| Advantage SafeBalance | $4.95 | No |
| Advantage Plus | $12 | No |
| Advantage Relationship | $25 | Yes |
What is the monthly fee for Bank of America?
Compare Settings
| Bank of America Advantage SafeBalance Banking® | Bank of America Advantage Plus Banking® | Bank of America Advantage Relationship Banking® |
|---|---|---|
| Minimum opening deposit | ||
| $25 | $100 | $100 |
| Monthly maintenance fee | ||
| $4.95 | $12 | $25 |
How do I avoid monthly maintenance fees Bank of America?
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.
Do all banks charge a monthly fee?
Not all banks charge a monthly maintenance fee. But, many large financial institutions do. Banks will tack on different amounts for their monthly maintenance fee, and it’s part of how they make their money. Here’s a closer look at some of the fees at the biggest banks in the U.S. and how you can avoid them.
Why does BOA charge a monthly maintenance fee?
Why Do Banks Charge Monthly Fees? Not all banks charge a monthly fee. Monthly maintenance fees charged by banks cover any costs associated with maintaining your account. These can include operating costs and add-ons, such as overdraft protection, out-of-network ATM coverage, early direct deposit, and other perks.
Does Bank of America have free checking?
The Bank of America Basic Checking Fees The account has a $12 monthly fee unless you meet the following fee waiver requirements every month: Have at least one qualifying direct deposit of $250. Maintain a minimum daily balance of $1,500 or more.
How do I avoid monthly fees?
Here are some proven tips:
- Utilize free checking and savings accounts. Many banks still offer them.
- Sign up for direct deposit.
- Keep a minimum balance.
- Keep multiple accounts at your bank.
- Use only your bank’s ATMs.
- Don’t spend more money than you have.
- Sign Up for Email or Text Alerts.
Why does Bank of America charge a monthly maintenance fee?
Which banks do not charge monthly fees?
Best no-fee checking accounts
- Best overall: Capital One 360® Checking Account.
- Runner-up: Ally Interest Checking Account.
- Best for rewards: Discover Cashback Debit Account.
- Best for out-of-network ATMs: Alliant Credit Union High-Rate Checking Account.
- Best for students: Chase College Checking℠ Account.
