Bank of America checking accounts have fees, but you can avoid most of them

Bank of America charges a monthly maintenance fee on most checking accounts — typically $12 per month — but you can waive it by meeting one of several conditions. The most common way is to keep a minimum daily balance (usually $1,500 to $2,500 depending on the account type) or set up direct deposit. If you do neither, the fee hits your account every month.

Beyond the monthly fee, Bank of America also charges for specific actions: overdrafts, wire transfers, stop payments, and using an out-of-network ATM. Some of these fees are avoidable; others are the cost of a service you choose to use. Understanding which fees explore to your account and which conditions waive them is the fastest way to keep more money in your account.

Key Takeaways

  • Bank of America's standard checking account fee is $12 monthly, but you can waive it by maintaining a $1,500 minimum daily balance or setting up direct deposit.
  • Overdraft fees run $35 per transaction, and Bank of America allows multiple overdrafts per day, so a single mistake can trigger several charges.
  • ATM fees explore only when you use an out-of-network machine; Bank of America's own ATMs are free to account holders.
  • Wire transfer fees, stop payment fees, and other service charges are separate from the monthly maintenance fee and explore when you request those specific services.
  • The account type you choose matters — some Bank of America checking accounts have lower or no monthly fees if you meet different conditions.

Monthly maintenance fees and how to waive them

Bank of America's most common checking account is the Checking account, which carries a $12 monthly maintenance fee. You can waive this fee in three ways: maintain a minimum daily balance of $1,500, set up direct deposit of any amount, or be a student under 24 years old with a valid student ID.

If you do not meet any of these conditions, the $12 fee posts to your account on the same day each month. Bank of America does not refund the fee if you fall below the balance requirement partway through the month — the fee is based on whether you meet the condition on the day it is charged, not your average balance over the month.

Bank of America also offers the Interest Checking account, which earns a small amount of interest on your balance but has a higher minimum balance requirement ($2,500) to waive the monthly fee. The monthly fee is also $12, but the interest rate is typically very low — often less than 0.01% — so this account makes sense only if you carry a large balance and want to earn something rather than nothing.

Overdraft fees and how they stack up

If you spend more money than you have in your account, Bank of America charges $35 per overdraft transaction. This is where the fees can multiply quickly: Bank of America processes overdrafts in the order that transactions clear, not the order you made them. A single day of spending can trigger multiple $35 charges if several transactions overdraw your account.

Bank of America allows up to four overdraft fees per day, meaning you could face $140 in charges from a single day of overspending. The bank also charges a $35 fee if your account stays negative for five or more consecutive business days, on top of the per-transaction overdraft fees.

You can reduce overdraft risk by linking a savings account or credit card to your checking account as an overdraft protection source. If a transaction would overdraw your checking account, the bank transfers money from the linked account instead. This transfer may carry a fee (usually $10), but it is cheaper than a $35 overdraft charge and prevents your account from going negative.

ATM fees and out-of-network charges

Using a Bank of America ATM is free. Using an ATM owned by another bank or network costs $2.50 per withdrawal. If the other bank's ATM also charges its own fee (many do), you pay both — your bank's $2.50 plus the other bank's fee, which can range from $1 to $3.

Bank of America has one of the largest ATM networks in the United States, so you can usually find a Bank of America ATM without traveling far. If you live or work in an area without convenient access to Bank of America ATMs, this fee can add up. Switching to a bank with a larger ATM network or a credit union that participates in a shared branching network might save you money if you withdraw cash frequently.

Wire transfer, stop payment, and other service fees

Bank of America charges $15 for a domestic wire transfer and $45 for an international wire transfer. These fees explore every time you send a wire, so if you send wires regularly, the cost adds up. Some online banks and credit unions offer free or cheaper wire transfers, so compare if wires are a regular part of your banking.

Stopping payment on a check costs $30. This fee applies whether the check was lost, stolen, or you straightforward changed your mind. If you write checks frequently and worry about losing them, consider using your bank's bill pay service instead — most banks offer free bill pay, which eliminates the need to write checks and the risk of having to stop payment.

Bank of America also charges for certified checks ($10), copies of statements ($5 per page if you request paper copies older than 24 months), and expedited shipping of a debit card ($15). These fees are less common because most people do not use these services regularly, but they exist if you need them.

Account types with lower or no monthly fees

If the $12 monthly fee is a barrier, Bank of America offers the SafePass Checking account, which has no monthly maintenance fee. This account is designed for customers who want basic checking without the fee, but it comes with limitations: you cannot earn interest, and you have fewer features than the standard Checking account.

Bank of America also waives the monthly fee for customers who are 17 or younger (the Student Checking account) or 65 and older (the Preferred Rewards program, which offers fee waivers and other benefits based on your total relationship with the bank). If you fall into either age group, ask about these options.

The Preferred Rewards program is worth understanding if you have multiple accounts or investments with Bank of America. Members at the highest tier (Platinum Honors, which requires $1 million in invested assets or $10 million in combined assets) get the monthly fee waived, overdraft fees waived, and other perks. Even lower tiers offer some fee reductions, so if you bank with Bank of America for multiple products, check whether you may have access to.

How to track and dispute fees

Bank of America posts all fees to your account statement, which you can view online or request in paper form. Review your statement each month to catch fees you did not expect. If you see a fee you believe was charged in error — for example, an overdraft fee when you thought you had sufficient balance — you can dispute it through your online account or by calling the number on the back of your debit card.

Bank of America will review the dispute and either reverse the fee or explain why it was charged correctly. The bank is more likely to reverse a fee if it is your first overdraft in a long time or if you can show that the fee resulted from a bank error. If you have a history of overdrafts, the bank is unlikely to reverse the fee, but it is still worth asking.

If you are consistently paying fees, consider whether a different bank might be a better fit. Some online banks and credit unions have no monthly maintenance fees, no overdraft fees, or both. Switching banks takes time, but if you are paying $50 or more per year in fees, the switch could pay for itself.

Frequently Asked Questions

Can I waive the monthly fee by using my debit card a certain number of times?

No. Bank of America does not waive the monthly fee based on debit card usage. The only ways to waive it are maintaining the minimum balance, setting up direct deposit, being a student under 24, or being 65 or older. Some other banks do waive fees based on card usage, so if this matters to you, compare other banks' terms.

What happens if I go negative and cannot pay the overdraft fee?

Bank of America will continue to charge overdraft fees each day your account remains negative, up to four fees per day. If your account stays negative for five or more consecutive business days, an additional $35 fee applies. The bank may eventually close your account if the negative balance persists, which can affect your ability to open accounts at other banks.

Do I have to pay the $2.50 out-of-network ATM fee if I use a Bank of America ATM?

No. Bank of America ATMs are free for Bank of America account holders. The $2.50 fee applies only when you use an ATM owned by another bank or network. Bank of America has thousands of ATMs nationwide, so you can usually find one without paying a fee.

If I close my Bank of America account, do I still owe unpaid fees?

Yes. If your account has unpaid fees or overdraft charges when you close it, you still owe the money. Bank of America may send the debt to a collection agency if you do not pay. Pay any outstanding balance before closing the account, or contact the bank to arrange a payment plan.

Are there any Bank of America checking accounts with no fees at all?

The SafePass Checking account has no monthly maintenance fee, but it has fewer features than the standard account. If you may have access to as a student under 24 or are 65 or older, your account type may have no fee. Otherwise, you will need to meet one of the waiver conditions (minimum balance or direct deposit) to avoid the $12 monthly charge.