Bank of America, a major banking institution in the United States, offers a variety of financial products and services, including checking accounts.
Many consumers wonder if the bank charges fees for maintaining a checking account.
Below, we’ll cover Bank of America’s checking account options, associated fees, and some tips to avoid or minimize them.
READ MORE: See The Current Welcome Promotion From Bank of America
Bank of America’s Checking Account Options

Bank of America offers three primary personal checking account options, each with its own unique features and fees:
- Advantage SafeBalance Banking®: This account is designed for those who want a simple, low-cost banking solution. It does not offer check writing capabilities or overdraft protection services, and there is a monthly maintenance fee of $4.95.
- Advantage Plus Banking®: This account is designed for customers looking for a full-service checking account with additional benefits. It comes with overdraft protection and offers a range of account alerts. The monthly maintenance fee for Advantage Plus Banking is $12.
- Advantage Relationship Banking®: This account is for customers who maintain higher balances across their Bank of America accounts and want to benefit from preferred rates and fee waivers. The monthly maintenance fee is $25.
See how to avoid the monthly fees below.
How To Avoid Or Minimize Checking Account Fees
While Bank of America does charge fees for its checking accounts, there are ways to avoid or minimize them:
- Meet the account balance or direct deposit requirements: Each checking account option has specific requirements such as maintaining a minimum balance or receiving direct deposits. By meeting these requirements, you can have the monthly maintenance fee waived.
- Advantage SafeBalance Banking: No monthly maintenance fee for Students under 25 enrolled in school or an educational or vocational program. Otherwise, the $4.95 monthly fee cannot be waived.
- Advantage Plus Banking: To avoid the $12 monthly fee, maintain a minimum daily balance of $1,500 or receive qualifying direct deposits of at least $250 per month. Users can also waive the fee by enrolling in Preferred Rewards.
- Advantage Relationship Banking: To waive the $25 monthly fee, maintain a combined balance of $10,000 or more in eligible linked accounts. Users can also waive the fee by enrolling in Preferred Rewards.
- The Bank of America Preferred Rewards program: If you have a combined balance of $20,000 or more in qualifying Bank of America banking and/or Merrill investment accounts, you may be eligible for the Preferred Rewards program. This program offers a range of benefits, including fee waivers on checking accounts.
- Use Bank of America ATMs: Bank of America charges a fee for using non-Bank of America ATMs. To avoid this fee, make sure to use one of their ATMs when withdrawing cash.
- Monitor your account regularly: Keep track of your account balance and transactions to avoid unexpected fees, such as overdraft charges.
The Bank of America Advantage Banking $100 Bonus Offer
Now that you know the account fees involved and how to avoid them, consider the bonus offer available to new customers.
You can earn a $100 bonus offer when you open a new qualifying Bank of America Advantage Banking account.
How To Earn It:
- This online-only offer requires opening an account through the Bank of America promotional page.
- The offer is available exclusively for new checking customers.
- Open an account through the promotional page and set up and receive qualifying direct deposits totaling $1,000 or more within 90 days of opening.
- Bank of America will attempt to pay the bonus within 60 days.
- Additional terms and conditions apply. See the offer page for more details.
LEARN MORE:
Get the welcome bonus offer from Bank of America
Accounts that qualify for the bonus: Bank of America Advantage SafeBalance Banking®, Bank of America Advantage Plus Banking®, and Bank of America Advantage Relationship Banking®.
More On Bank of America Advantage Banking
Bank of America Advantage Banking is a flexible checking account with three settings, designed to adapt to your needs as life changes.
Key features include:
- Unrestricted access: Utilize a vast network of financial centers and ATMs nationwide for your banking needs.
- Round-the-clock protection: Enjoy Total Security Protection®, comprehensive fraud monitoring, safe login features, card lock options, and more.
- Flexible payment options: Make transactions effortlessly using your debit card or a digital wallet.
- Intelligent financial management tools: Create personalized alerts and savings objectives, and take advantage of customized cash back deals and rewards.
- Zero liability for unauthorized transactions: Rest assured that you won’t be held accountable for unauthorized charges made with your consumer debit card, provided you report them in a timely manner.
- Control over your debit card: Swiftly and conveniently lock a misplaced card to prevent unauthorized usage.
- Tailored notifications: Keep up-to-date and respond rapidly to crucial account updates with custom alerts delivered through email or text messages, covering aspects such as low balances, pending deposits, and upcoming bills.
READ MORE: See Chase Bank Checking Bonus Offer
Bottom Line
Bank of America checking accounts do come with fees, but there are multiple ways to avoid or minimize these charges.
Understanding the different account options and their associated fees, taking advantage of methods to waive or reduce these fees, and capitalizing on promotional offers, such as the $100 bonus offer for new checking customers, can help you make the most of your Bank of America checking account experience without incurring unnecessary expenses.
By carefully considering these factors, you can find a checking account that best suits your financial needs and lifestyle.
LEARN MORE:
Get the welcome bonus offer from Bank of America
READ MORE: SEE THE BEST BANK BONUSES HERE AND THE BEST INVESTING BONUSES HERE.