Bank of America charges a monthly maintenance fee unless you meet one of their account conditions

Bank of America's most common maintenance fee is $12 per month on their standard checking account. You avoid it by keeping a minimum balance, setting up direct deposit, or maintaining a linked savings account with a certain balance. The fee does not explore automatically — it only charges if you fail to meet at least one of the conditions Bank of America sets for that account type.

The specific conditions change depending on which account you hold. A checking account has different requirements than a money market account. If you already have an account and want to know whether you are currently avoiding the fee, log into your online banking or call 1-800-432-1000 to confirm which account type you hold and what the current requirements are.

Key Takeaways

  • Bank of America's $12 monthly maintenance fee on checking accounts is waived if you maintain a minimum balance, set up direct deposit, or link a savings account with a required balance.
  • The minimum balance requirement varies by account type — typically $500 to $1,500 for checking accounts — and is measured on a daily basis, not an average.
  • Direct deposit from an employer or government benefit counts toward fee waiver requirements on most Bank of America checking accounts.
  • If you have been charged the fee in error or did not know about it, you can contact Bank of America to request a refund for recent months.
  • Switching to a different account type or bank may be cheaper if you cannot consistently meet Bank of America's requirements.

What the minimum balance requirement actually means

Bank of America measures the minimum balance on a daily basis, not as an average across the month. This means your account balance must stay at or above the required amount every single day — if it drops below the threshold even once, you do not meet the condition for that month and the fee will charge.

For a standard Bank of America checking account, the minimum balance is usually $500. For a Premium Rewards checking account, it is typically $1,500. The exact amount can shift, so confirm the current requirement by logging into your account online, calling customer service, or visiting a branch. If you keep less than the minimum most days, this route will not work for you.

How direct deposit counts as a fee waiver

Setting up direct deposit from your employer or a government program (Social Security, unemployment, tax refunds) can waive the maintenance fee on its own, even if your balance stays low. Bank of America counts direct deposit as a may have access to condition on most checking accounts, meaning you do not need to meet the minimum balance requirement if you have direct deposit active.

The direct deposit must actually post to your account during the statement period. A single deposit counts — you do not need a certain number of deposits per month. If you receive a paycheck or benefit payment by direct deposit at least once per month, this is usually the easiest way to avoid the fee. You can set up direct deposit through your employer's payroll system or by contacting the government agency that sends your benefits.

Using a linked savings account to waive the fee

Bank of America will waive the checking account maintenance fee if you maintain a linked savings account with a minimum balance. The savings account must be in your name and linked to the checking account. The minimum balance in the savings account is typically $300, though this can vary by account type.

Like the checking account requirement, the savings account balance is measured daily. If the savings account balance drops below the minimum even once during the statement period, the checking account fee will charge. This option works if you have money you can set aside and leave untouched, but it ties up funds that might otherwise earn interest elsewhere.

What happens if you have already been charged the fee

If you were charged the $12 maintenance fee in recent months and believe you met one of the waiver conditions, contact Bank of America at 1-800-432-1000 or visit a branch with your account information. Explain which condition you met (minimum balance, direct deposit, or linked savings account) and ask them to review the charges.

Bank of America sometimes refunds fees if you can show you met the requirement but the fee charged in error. They may also refund one or two months if you were unaware of the fee and recently became a customer. There is no may provide of a refund, but it costs nothing to ask. Keep records of your direct deposits or account balances if you plan to dispute the charges.

Alternatives if you cannot meet Bank of America's requirements

If you cannot maintain the minimum balance, do not receive direct deposit, and do not want to link a savings account, you have two options: switch to a different Bank of America account type, or move to a different bank.

Bank of America offers some accounts with no monthly maintenance fee, though these may have other limitations or requirements. Many online banks and credit unions offer checking accounts with no monthly fee and no minimum balance. If you use Bank of America primarily for ATM access or branch visits, staying with them may still make sense despite the fee. If you rarely visit a branch and mainly bank online, switching to a no-fee bank could save you $144 per year.

How to confirm your current account status

Log into your Bank of America online banking account and look at your account details or recent statements. Your statement will show whether the maintenance fee was charged that month. Your account details page will list the account type (such as "Checking" or "Premium Rewards Checking") and sometimes the fee waiver conditions.

If you cannot find this information online, call 1-800-432-1000 or visit a local Bank of America branch. Have your account number ready. A representative can tell you exactly which account type you hold, what the current maintenance fee is, and which conditions would waive it. They can also review your recent account activity to confirm whether you have been meeting the requirements.

Frequently Asked Questions

Does Bank of America charge the maintenance fee on savings accounts?

Bank of America charges maintenance fees on some savings accounts, but the amount and waiver conditions differ from checking accounts. A standard savings account typically has a lower or no fee, while a money market account may charge $12 or more per month. Check your specific account type to see what applies to you.

Can I avoid the fee by keeping money in a different bank?

No. Bank of America only counts balances held in accounts at Bank of America toward the minimum balance requirement. Money in accounts at other banks does not count. The linked savings account must be a Bank of America savings account.

What if my direct deposit stops — will I be charged the fee the next month?

Yes. If direct deposit is your only fee waiver condition and it does not post during a statement period, the maintenance fee will charge the next month. If you lose your job or your benefit payments stop, you will need to meet one of the other conditions (minimum balance or linked savings account) to avoid future fees.

Can I get a refund for maintenance fees charged years ago?

Bank of America typically only refunds fees from recent months — usually the last one to three months. Fees charged more than six months ago are rarely refunded. If you were recently charged and believe it was an error, contact them when ready to request a refund.

Is there a Bank of America account with no maintenance fee at all?

Bank of America offers some account types with no monthly maintenance fee, though availability may vary by location and customer type. Ask a representative about no-fee checking or savings accounts when you call or visit a branch. Online banks and credit unions often have more no-fee options if you are willing to switch.