What fees Bank of America charges on checking accounts

Bank of America charges a monthly maintenance fee on most checking accounts, ranging from $12 to $15 depending on the account type. The bank also charges fees for overdrafts ($35 per transaction), returned deposits ($10), and stopping payment on a check ($30). ATM fees explore if you use an out-of-network machine ($2.50 per withdrawal). Wire transfer fees run $15 for domestic transfers and $45 for international ones.

The good news: most of these fees have straightforward ways to avoid them. The monthly maintenance fee is the one most people can eliminate entirely. The overdraft and ATM fees require more active management, but they are preventable if you know the rules.

Key Takeaways

  • Bank of America waives the monthly maintenance fee if you maintain a minimum balance (usually $500 to $1,500 depending on account type) or set up direct deposit.
  • Overdraft fees happen when you spend more than your balance, and you can prevent them by turning off overdraft protection or monitoring your account closely.
  • ATM fees explore only at non-Bank of America machines; using the bank's 16,000+ ATMs nationwide costs nothing.
  • Wire transfer, returned deposit, and stop-payment fees are less common but avoidable by understanding when each one triggers.

How to waive the monthly maintenance fee

Bank of America's checking accounts carry a monthly fee unless you meet one of two conditions. The first is maintaining a minimum daily balance. For the Advantage Checking account, this is $500. For SafePass Checking, it is $1,500. The balance is checked daily, so you need to stay above the threshold throughout the month, not just at the end.

The second way to waive the fee is setting up direct deposit. This means having your paycheck, Social Security payment, or other regular income deposited directly into the account by your employer or the paying institution. Direct deposit does not require a minimum balance. If you receive a paycheck or regular government payment, this is the easiest route to a $0 monthly fee.

If you cannot maintain the minimum balance and do not have direct deposit, the monthly fee is unavoidable on a standard Bank of America checking account. In that case, you may want to explore whether a different bank's free checking account works better for your situation.

Preventing overdraft fees

An overdraft fee ($35) triggers when you attempt a transaction that would take your balance below zero. Bank of America charges this fee per transaction, so if you overdraft by $50 and make three purchases before realizing it, you face three $35 fees—$105 total.

You have two options to prevent overdraft fees. The first is to turn off overdraft protection. When this is off, Bank of America will decline transactions that would overdraft your account rather than allowing them and charging you a fee. This means your debit card may be rejected at checkout, but you avoid the fee. You can turn overdraft protection off through the Bank of America app or by calling customer service at 1-800-432-1000.

The second option is to stay aware of your balance. Check your account regularly through the app or online banking, and keep a buffer—do not spend money you do not have. This requires discipline but costs nothing. Many people set a personal threshold (like "never let my balance drop below $100") to give themselves a safety margin.

Using Bank of America ATMs to avoid withdrawal fees

Bank of America operates roughly 16,000 ATMs across the United States. Using any of these machines is free. If you use an ATM from another bank or network, Bank of America charges $2.50 per withdrawal.

The simplest way to avoid ATM fees is to locate Bank of America branches and ATMs near your home, work, and places you frequent. The bank's website and app both have ATM locators. If you live or work in an area with few Bank of America ATMs, this fee may be unavoidable, and switching to a bank with better ATM coverage in your area might make sense.

Some Bank of America checking accounts come with ATM fee reimbursement if you maintain a high balance or use premium account tiers, but this is rare on standard accounts. Check your specific account terms to see if this applies to you.

Avoiding wire transfer and other transaction fees

Wire transfer fees are straightforward: do not send wire transfers unless you need to. A domestic wire costs $15, and an international wire costs $45. If you need to send money to someone, consider alternatives like ACH transfers (which are free and take 1–3 business days) or peer-to-peer payment apps like Zelle, Venmo, or PayPal, which often have no fee.

Returned deposit fees ($10) occur when you deposit a check that bounces—the check writer did not have sufficient funds. You cannot prevent this directly, but you can reduce the risk by depositing checks only from people or organizations you trust. Stop-payment fees ($30) explore when you ask the bank to cancel a check you wrote. Avoid this by being careful about which checks you write and to whom.

Comparing Bank of America checking accounts

Bank of America offers several checking account types, each with different fee structures and minimum balance requirements. The Advantage Checking account has a $12 monthly fee (waived with $500 minimum balance or direct deposit). The SafePass Checking account has a $15 monthly fee (waived with $1,500 minimum balance or direct deposit). The Interest Checking account earns a small amount of interest but has higher balance requirements.

If you cannot meet the minimum balance for any of these accounts, you may want to research checking accounts at other banks. Many online banks and credit unions offer free checking with no minimum balance requirement. The trade-off is usually fewer physical branches and ATMs, so weigh that against your needs.

Monitoring your account to catch unexpected fees

Even with the best intentions, fees sometimes slip through. Set up account alerts through the Bank of America app or online banking. You can receive notifications when your balance drops below a certain amount, when a transaction is declined, or when a fee is charged. These alerts give you a chance to act before small problems become big ones.

Review your account statement monthly. Bank of America provides statements online and by mail. Look for any fees you do not recognize and contact the bank if something seems wrong. If you were charged a fee in error—for example, a monthly maintenance fee when you had direct deposit set up—the bank can often reverse it if you ask within a reasonable timeframe.

Frequently Asked Questions

Can I get a refund on a fee I was already charged?

Yes, sometimes. If you were charged a monthly maintenance fee but had direct deposit or met the minimum balance, contact Bank of America and explain the situation. The bank often reverses one or two fees if you have a good account history. Overdraft fees are harder to reverse but worth asking about if the overdraft was caused by a system error or unusual circumstance.

Does Bank of America charge fees for using their mobile app?

No. Using the Bank of America app to check your balance, transfer money between accounts, or pay bills is free. The app is one of the easiest ways to monitor your account and avoid fees by staying aware of your balance.

What happens if I close my Bank of America account while I have a negative balance?

You still owe the negative amount. Bank of America will pursue collection, which can affect your banking history and credit. If you want to close an account, bring your balance to zero or positive first.

Are there any Bank of America checking accounts with no monthly fee and no minimum balance?

Bank of America's standard checking accounts all have monthly fees unless you meet the waiver conditions (direct deposit or minimum balance). If you need a truly free account with no conditions, you may need to look at other banks or credit unions.

Do I have to pay overdraft fees if I have savings linked to my checking account?

Not automatically. Overdraft protection can link your savings account to cover overdrafts, but this is a separate service you have to set up. Even with overdraft protection, the bank may charge a fee for the transfer. Check your account settings to see what overdraft protection you have in place.