The main fees Bank of America charges and how to stop them

Bank of America charges a $12 monthly maintenance fee on most checking accounts unless you meet one of their waiver conditions. The fee hits automatically on the same day each month, usually the first business day. You can prevent it by keeping a minimum balance, setting up direct deposit, or maintaining a linked savings account with a certain balance — the exact requirement depends on which account type you have.

Beyond the monthly fee, Bank of America also charges for overdrafts ($35 per transaction), out-of-network ATM withdrawals ($2.50 per use), and wire transfers ($15 domestic, $45 international). Some of these are avoidable; others are harder to sidestep without changing how you bank. The overdraft fee is the one that catches most people because it can stack — multiple transactions in one day can each trigger a separate $35 charge.

The path forward depends on which fees matter most to you. If the monthly maintenance fee is your main concern, the waiver conditions are straightforward and achievable for most people. If overdraft fees are the problem, the solution involves either keeping a buffer or opting out of overdraft coverage entirely.

Key Takeaways

  • Bank of America's $12 monthly checking fee waives if you maintain a $1,500 minimum balance, set up direct deposit of any amount, or link a savings account with $300 in it.
  • Overdraft fees ($35 each) stack per transaction on the same day, so a single day of overspending can cost $70 or $105 depending on how many transactions post.
  • You can opt out of overdraft coverage for debit card and ATM transactions, which stops the fee but also stops the transaction from going through.
  • Out-of-network ATM fees ($2.50 each) are avoidable only by using Bank of America ATMs or banks in their AllPoint network.
  • Direct deposit counts toward the monthly fee waiver even if it is a small amount, and it does not have to be your paycheck — government benefits or transfers from another account count.

How to waive the $12 monthly maintenance fee

Bank of America offers three separate ways to waive the monthly fee on their standard checking account (called SafePass or Advantage Plus depending on your account age). You only need to meet one of them:

Minimum balance: Keep $1,500 in the account at all times. This is measured daily, so if you drop below $1,500 even once during the month, the fee posts. If you are paid weekly or biweekly, this is usually doable — you just need to time your spending so you never dip below the threshold. If you live paycheck to paycheck, this option is harder.

Direct deposit: Set up any recurring deposit — paycheck, Social Security, unemployment, pension, or even a transfer from another account you control. The amount does not matter; even $1 per month counts. This is the easiest waiver for most people because it requires no balance and no ongoing action once it is set up. You set it up once and it runs automatically.

Linked savings account: Keep $300 in a Bank of America savings account that is linked to your checking account. Like the balance requirement, this is measured daily. The savings account itself may have its own fees, so check before opening one just for this purpose.

If you do not meet any of these conditions, the $12 fee posts automatically. Bank of America does not waive it retroactively, so you cannot call and ask them to remove it after the fact — though you can ask once if you are a new customer or have had a long history without fees.

Stopping overdraft fees before they happen

Overdraft fees are the most expensive and most avoidable fees Bank of America charges. Each transaction that overdrafts your account costs $35, and multiple transactions can each trigger a separate fee on the same day. If you make five debit card purchases when you have $20 in the account, you could face $175 in overdraft fees even though you only overspent by $80.

Bank of America offers overdraft protection, which links your checking account to a savings account or credit line and automatically transfers money to cover overdrafts. This stops the $35 fee from posting, but you pay interest on the transfer amount if it comes from a credit line. If it comes from a linked savings account, there is no interest — just the transfer. You set this up in your online banking under account settings.

The second option is to opt out of overdraft coverage for debit card and ATM transactions. If you do this, transactions that would overdraft straightforward decline instead of going through. You do not get charged a fee, but the transaction fails — so a debit card purchase gets rejected at the register. This stops the fee but can be embarrassing or inconvenient. You can still opt in for checks and automatic bill payments if you want those to go through even if it overdraws you.

To opt out, log into your Bank of America online account, go to Settings, then Account Services, then Overdraft Protection. You can turn off coverage for debit and ATM transactions while keeping it on for checks and ACH transfers if you prefer.

Avoiding ATM and wire transfer fees

Bank of America charges $2.50 for each withdrawal at an out-of-network ATM. If you use an ATM that is not Bank of America and not part of their AllPoint network, the fee posts when ready. Over a month, this adds up fast — four out-of-network withdrawals cost $10.

The only way to avoid this fee is to use Bank of America ATMs or ATMs in the AllPoint network, which includes thousands of ATMs at retailers like Walmart, Target, and CVS. You can find AllPoint ATMs through Bank of America's mobile app or website. If you live or work near a Bank of America branch, this is usually not a problem. If you do not, AllPoint coverage varies by region — some areas have dense networks, others have few options.

Wire transfers cost $15 for domestic transfers and $45 for international transfers. Bank of America does not waive these fees. If you send wires regularly, this cost is built into your banking expenses. If you send them rarely, you might consider using a money transfer service like Wise or OFX for international transfers, which often cost less than $45.

When to switch accounts or banks

If you cannot meet the monthly fee waiver conditions and you do not keep a high balance, Bank of America's checking account may cost more than alternatives. Other banks offer checking accounts with no monthly fee and no minimum balance — Ally Bank, Charles Schwab, and many credit unions fall into this category.

The trade-off is usually ATM access. Bank of America has thousands of branches and ATMs nationwide, which is valuable if you deposit cash regularly or need in-person service. Online-only banks have no ATMs at all. Credit unions vary — some are part of shared branching networks that give you access to other credit union ATMs and branches, others are not.

Before switching, calculate your actual costs over three months. If you pay $12 per month in maintenance fees and $10 per month in out-of-network ATM fees, that is $66 per quarter. If a different bank eliminates those fees but charges you $5 per month for something else, you are still ahead. The math matters more than the brand.

Frequently Asked Questions

Does direct deposit have to be from my employer?

No. Bank of America counts any recurring deposit as direct deposit for the fee waiver — that includes Social Security, unemployment benefits, pension payments, or even a transfer you set up from another account. The amount does not matter, and it does not have to be your primary income. Set it up once and it waives the fee automatically each month.

What happens if I miss the minimum balance by one day?

The $12 fee posts. Bank of America measures the balance daily, so if you drop below $1,500 even once during the month, you do not meet the waiver condition. The fee is not prorated — you pay the full $12. This is why direct deposit is easier for most people; it requires no balance at all.

Can Bank of America reverse an overdraft fee if I call and ask?

They may reverse it once if you have a good account history and it is your first request, but there is no may provide. Bank of America does not have a formal policy of waiving overdraft fees on request. Your best bet is to prevent the fee by using overdraft protection or opting out of overdraft coverage.

Are there Bank of America accounts with no monthly fee?

Bank of America's SafePass and Advantage Plus accounts both have the $12 fee unless you meet a waiver condition. Some older accounts (like the old eChecking account) may have different terms, but new accounts opened today will have this fee structure. If you want no monthly fee with no conditions, you need to switch to a different bank.

Do I have to use Bank of America ATMs to avoid fees?

You can use Bank of America ATMs or AllPoint network ATMs without paying the $2.50 out-of-network fee. AllPoint ATMs are at thousands of retailers nationwide, though coverage varies by region. If neither option is convenient where you live, the ATM fee becomes a real cost of banking with Bank of America.