The main ways Bank of America charges monthly fees on checking accounts

Bank of America charges a monthly maintenance fee on most checking accounts unless you meet one of their conditions to waive it. The most common account, the Bank of America Checking, has a $12 monthly fee that disappears if you keep a minimum balance, set up direct deposit, or maintain a linked savings account with a certain balance.

The fee structure depends on which checking account you have. Bank of America offers several versions — the standard Checking, the Interest Checking, and the Premium Rewards Checking — and each has different fee waiver rules. Knowing which account you have and what its specific waiver conditions are is the first step to avoiding the charge.

The good news is that the fee waiver conditions are straightforward and do not require you to jump through complicated hoops. Most people can meet at least one of them without changing their banking habits much.

Key Takeaways

  • Bank of America's standard checking account charges $12 per month unless you meet one of three waiver conditions: maintain a $1,500 minimum balance, set up direct deposit, or link a savings account with a $2,500 balance.
  • Direct deposit is often the easiest waiver path because it requires no money sitting idle in your account — your paycheck just needs to land there regularly.
  • If you cannot meet the balance requirement, you can combine multiple accounts: a linked savings account with $2,500 counts toward the waiver even if your checking balance is lower.
  • Bank of America waives fees differently for different account types, so confirm which checking product you actually have before assuming a waiver applies to you.
  • If you fall short of a waiver condition one month, the fee posts automatically — you will need to contact the bank to request a reversal, which they sometimes grant.

Direct deposit as the easiest fee waiver

Setting up direct deposit is the simplest way to waive the monthly fee because it does not require you to keep a large balance sitting unused. You just need your paycheck (or another regular income deposit like a pension or benefit payment) to land in your Bank of America checking account at least once per month.

To set this up, you give your employer or benefit administrator your Bank of America account number and routing number. You can find both on the bottom left of your checks, or by logging into your online account and looking at your account details. Your employer's payroll department will handle the rest — the deposit will arrive on your regular payday, usually within one or two business days of when it is processed.

Once direct deposit is active, the fee waiver takes effect when ready. You do not need to do anything else or maintain any particular balance. If your direct deposit stops for a month (because you change jobs, for example), the fee will resume the following month unless you meet one of the other waiver conditions.

Maintaining a minimum balance to avoid the fee

The second waiver path is keeping a minimum daily balance in your checking account. For the standard Bank of America Checking, this balance is $1,500. The bank looks at your balance each day and waives the fee if your account never drops below $1,500 during the month.

This approach works if you have the money available and do not mind keeping it in checking rather than a savings account where it might earn interest. The balance is checked daily, so if you dip below $1,500 even once during the month, you will not receive the waiver that month and the fee will post.

One important detail: the bank counts your available balance, not your pending balance. If you have written checks that have not cleared yet, they do not count against your $1,500 threshold. However, if you have pending transactions that will clear soon, it is safer to keep your balance higher to avoid accidentally triggering the fee.

Using a linked savings account to meet the balance requirement

Bank of America offers a third waiver option: link a savings account to your checking account and maintain a $2,500 balance in that savings account. This is useful if you want to keep a larger balance but prefer to earn interest on it rather than leaving it in checking.

The savings account must be in your name and linked to the same checking account. You can set up this link when you open the savings account, or add it later through your online banking. Once linked, the bank counts the savings balance toward your fee waiver — you do not need to maintain $1,500 in checking and $2,500 in savings. You just need $2,500 in the linked savings account, and your checking account can be at any balance.

This option makes sense if you are building an emergency fund or saving for a specific goal anyway. Your money earns a small amount of interest in the savings account, and you avoid the checking fee at the same time. If your savings balance drops below $2,500, the fee waiver ends and the monthly charge will post the next month.

What happens if you miss a waiver condition one month

If you do not meet any of the three waiver conditions in a given month, Bank of America will charge you the $12 fee. The fee posts automatically — you do not have to do anything for it to appear on your statement.

If this happens, you have options. You can contact Bank of America by phone, through your online account, or by visiting a branch and ask them to reverse the fee. The bank does not have to reverse it, but they often will if this is your first time missing the waiver or if you have been a customer for a while. There is no harm in asking, and many people find the bank will remove one or two fees per year as a courtesy.

To avoid this situation, set a reminder on your phone or calendar around the 25th of each month to check your balance or confirm your direct deposit went through. A few seconds of checking can save you $12.

Different checking accounts have different fee waiver rules

Bank of America offers more than one checking product, and the fee waiver conditions are not the same for all of them. The standard Bank of America Checking uses the three waivers described above. However, if you have the Bank of America Interest Checking or the Premium Rewards Checking, the balance requirements or other conditions may be different.

To find out which account you have, log into your online banking, call the customer service number on the back of your debit card, or visit a branch with your account number. The representative can tell you exactly which product you have and what the fee waiver conditions are for that specific account.

Some older accounts or accounts opened through specific promotions may also have different rules. If you have been banking with Bank of America for many years, it is worth confirming your account type because the waiver conditions may have changed since you opened it.

Switching to a different account type if none of the waivers work

If you cannot meet any of the three waiver conditions for your current account, Bank of America offers other checking products that might fit your situation better. Some accounts have lower balance requirements, and some have different waiver paths altogether.

Before switching accounts, call Bank of America or visit a branch and ask about accounts that match your situation. For example, if you have very little money to keep in the account and no regular direct deposit, a different product might have a lower fee or easier waiver conditions. The bank can walk you through the options without any pressure to switch.

Keep in mind that switching accounts takes a few days to process, and you will need to update any automatic payments or transfers that are tied to your current account. It is worth doing if it saves you money, but make sure you understand the new account's rules before you switch.

Frequently Asked Questions

Does the direct deposit have to be my paycheck, or can it be any deposit?

Direct deposit specifically means an electronic transfer set up by an employer, government agency, or other organization to deposit money automatically into your account. A one-time transfer you set up yourself does not count. However, the deposit can be a paycheck, pension, Social Security, unemployment benefits, or other regular income — it does not have to be employment income.

What if I have direct deposit but it does not come every month?

Direct deposit needs to post at least once per month to waive the fee. If you receive a paycheck every two weeks, that covers you. If you receive income less frequently — for example, quarterly — you will need to meet one of the other waiver conditions in the months when direct deposit does not arrive.

Can I count money in a different bank's account toward the balance requirement?

No. Bank of America only counts balances in accounts held at Bank of America. Money in accounts at other banks does not count toward the $1,500 checking balance or the $2,500 savings balance requirement.

If the fee posts, how long do I have to call and ask for a reversal?

There is no official time limit, but it is best to call within a few days of seeing the fee on your statement. The sooner you contact the bank, the sooner they can review your account and decide whether to reverse it. Waiting several months makes it less likely they will remove the charge.

Does Bank of America charge fees for other reasons on a checking account?

Yes. The $12 monthly maintenance fee is separate from other charges like overdraft fees (when you spend more than your balance), out-of-network ATM fees, or fees for stopping a check. Those fees have their own rules and are not waived by direct deposit or balance requirements.