What Bank of America charges for checking accounts

Bank of America charges a monthly maintenance fee on most checking accounts, but the amount depends on which account you open and whether you meet certain conditions. The SafePass Checking account costs $12 per month. The Advantage SafePass Checking account costs $15 per month. Both fees are waived if you maintain a minimum daily balance (usually $1,500 for SafePass) or set up a direct deposit of at least $250 per month.

Beyond the monthly fee, Bank of America charges for specific actions: overdraft fees ($35 per transaction), out-of-network ATM fees ($2.50 per withdrawal), wire transfer fees ($15 for domestic, $45 for international), and stop payment fees ($30). Some of these fees can be waived in certain circumstances — for instance, the overdraft fee is waived once per year if you have a good account history.

The fees that explore to you depend on how you use the account. If you never overdraft, never use out-of-network ATMs, and never send wire transfers, you may only pay the monthly maintenance fee. If you do those things regularly, the costs add up quickly.

Key Takeaways

  • Bank of America's standard checking accounts charge $12 to $15 per month, but this fee disappears if you keep $1,500 in the account or set up a direct deposit of $250 or more monthly.
  • Overdraft fees are $35 per transaction, though Bank of America waives one overdraft fee per year for customers with good account history.
  • Out-of-network ATM withdrawals cost $2.50 each, so using Bank of America's ATM network or a partner bank's ATM avoids this fee.
  • Wire transfers, stop payments, and other services carry separate fees ranging from $15 to $45, depending on the transaction type.
  • You can request fee waivers for specific charges if you have an otherwise clean account history, though Bank of America is not required to grant them.

How to waive the monthly maintenance fee

The easiest way to avoid the $12 or $15 monthly fee is to set up direct deposit. Bank of America requires a direct deposit of at least $250 per month — this can be a paycheck, Social Security, pension, or any regular deposit from an employer or government agency. Once the direct deposit is active, the monthly fee stops.

If you do not receive direct deposits, you can waive the fee by keeping a minimum daily balance. For SafePass Checking, this is $1,500. The balance must be maintained every day of the month — if it drops below $1,500 even once, the fee applies that month. For Advantage SafePass Checking, the minimum is higher and the fee structure is different, so check your account documents.

Some Bank of America customers also waive fees by linking their checking account to a savings account or by maintaining a relationship with the bank (for example, having a mortgage or credit card). The specific conditions change, so contact Bank of America directly to confirm what applies to your account type.

Overdraft fees and how they work

When you spend more money than you have in your account, Bank of America charges $35 per overdraft transaction. This means if you make five purchases that overdraft your account, you pay $175 in fees — not $35 total. Each transaction is charged separately.

Bank of America does offer overdraft protection, which links your checking account to a savings account or credit line. If you overdraft, the bank automatically transfers money from the linked account instead of charging a fee. This costs nothing if you have the money available, but it does require you to set it up in advance.

The bank also waives one overdraft fee per year if you have maintained good account standing. "Good standing" typically means no recent overdrafts, no fraud, and no other violations. You must request this waiver — it does not happen automatically. Call the customer service number on the back of your card and ask; the bank grants these requests fairly often.

ATM fees and how to avoid them

Bank of America charges $2.50 every time you withdraw cash from an ATM that is not owned by Bank of America or one of its partner networks. Bank of America has thousands of ATMs nationwide, so the easiest way to avoid the fee is to use one of those machines.

If you do not have a Bank of America ATM nearby, you can use ATMs from partner banks at no charge. Bank of America is part of the Allpoint network, which includes ATMs at many grocery stores, pharmacies, and convenience stores. You can also use ATMs from other banks in the MoneyPass network without paying Bank of America's fee (though the other bank may charge you).

Some checking accounts come with rebates for out-of-network ATM fees. The Advantage SafePass Checking account, for example, rebates up to $10 per month in out-of-network ATM fees. This does not eliminate the fee, but it caps your cost if you use out-of-network ATMs regularly.

Wire transfer and other service fees

Bank of America charges $15 to send a domestic wire transfer and $45 to send an international wire transfer. These fees are charged whether you send the wire in person at a branch or online. Incoming wire transfers are free.

Other common fees include $30 for a stop payment request (asking the bank to cancel a check you wrote), $5 to $10 for expedited delivery of checks, and $25 to $100 for a cashier's check, depending on the amount. Requesting a copy of a cancelled check costs $5 to $10. These fees explore only when you use the service — if you never send wires or request stop payments, you never pay them.

Some of these fees can be negotiated or waived if you have a long relationship with the bank or maintain a high balance. It is worth calling and asking, especially if you have been a customer for years or if the fee seems unreasonable for your situation.

Comparing Bank of America to other banks

Many online banks and credit unions offer checking accounts with no monthly maintenance fee and no minimum balance requirement. Banks like Ally, Charles Schwab, and Discover have zero-fee checking accounts. Credit unions often have similar offerings, especially if you are a member.

The trade-off is usually convenience and branch access. Bank of America has physical branches in most cities, which matters if you need to deposit cash, speak to someone in person, or handle complex transactions. Online banks have no branches but offer 24/7 customer service and often reimburse out-of-network ATM fees.

If you use Bank of America's branch network regularly or already have other products with the bank, staying may make sense even with the monthly fee. If you rarely visit a branch and want to minimize fees, an online bank or credit union might be a better fit. The choice depends on how you bank, not on which bank is objectively "better."

How to request a fee waiver

Bank of America does not automatically waive fees, but you can request a waiver for specific charges. Call the customer service number on the back of your debit card and explain the situation — for example, "I was charged an overdraft fee, but this is my first one in two years." The representative can review your account history and decide whether to waive the fee.

Your chances of getting a waiver are better if you have been a customer for a long time, have a clean account history, and are not asking for repeated waivers. If you overdraft every month and request a waiver each time, the bank will likely deny future requests. If you overdraft once every few years, they are more likely to help.

You can also visit a branch in person and speak to a manager. Some customers report better results with in-person requests, though the outcome depends on the individual manager and your account history. Be polite and specific about why you think the fee should be waived — "I made a mistake" works better than "I should not have to pay."

Frequently Asked Questions

Can I get a Bank of America checking account with no monthly fee?

No, Bank of America does not offer a completely free checking account. However, you can waive the monthly fee by setting up direct deposit of $250 or more per month, or by maintaining a $1,500 daily balance. If neither option works for you, an online bank or credit union may offer no-fee checking.

What happens if I do not have enough money to cover an overdraft?

Bank of America will charge you $35 per transaction that overdrafts your account. The transaction may still go through (depending on the type), or it may be declined. If it goes through, you owe the bank the overdrafted amount plus the $35 fee. You can set up overdraft protection to prevent this by linking a savings account or credit line.

Do I have to pay the out-of-network ATM fee if I use a partner bank's ATM?

No. Bank of America's out-of-network fee applies only to ATMs that are not part of Bank of America or its partner networks. Using an Allpoint or MoneyPass ATM is free from Bank of America's side, though the other bank may charge you a fee.

Can I switch to a different Bank of America checking account to avoid fees?

Bank of America's checking accounts all have monthly fees unless you meet the waiver conditions (direct deposit or minimum balance). Switching accounts will not help unless the new account has different waiver requirements that you can meet. Contact Bank of America to compare the specific terms of each account type.

What should I do if I think a fee was charged by mistake?

Call Bank of America's customer service line or visit a branch and explain the situation. The bank can review the transaction and may reverse the fee if it was applied in error. Have your account number and the date of the charge ready when you call.