Bank of America's checking account maintenance fee and how to stop paying it

Bank of America charges a $12 monthly maintenance fee on most checking accounts, but you can avoid it entirely by meeting one of three conditions: keep a minimum daily balance of $1,500, set up a direct deposit of at least $250 per month, or maintain an active Bank of America credit card or investment account. The fee hits your account automatically on the same day each month unless you take action to prevent it. If you have already been charged, you can request a refund by contacting the bank directly.

The fee applies to Bank of America's standard checking account (called Advantage Checking). Some accounts, like the eChecking account for seniors or students, have no monthly fee at all. The key is knowing which account you hold and which waiver method works for your situation.

Key Takeaways

  • Bank of America's Advantage Checking account charges $12 per month unless you meet one of three fee waiver conditions.
  • A minimum daily balance of $1,500 in the checking account itself waives the fee, but the balance must stay at or above that amount every single day.
  • Direct deposit of at least $250 per month is often the easiest waiver because it requires no balance maintenance and happens automatically.
  • If you have already paid the fee, you can call Bank of America and request a one-time or recurring refund, especially if you are a new customer or long-time account holder.
  • Some Bank of America account types (eChecking, student checking, senior checking) have no monthly fee regardless of balance or deposits.

The three ways to waive the $12 monthly fee

Bank of America offers three separate paths to avoid the maintenance fee. You only need to meet one of them. The first is a minimum daily balance of $1,500 in your checking account. This means the account balance must never drop below $1,500 on any single day of the month. If it falls to $1,499 on even one day, the fee applies that month. This method works if you keep a steady paycheck or savings buffer in the account, but it ties up money that could otherwise earn interest elsewhere.

The second method is direct deposit of at least $250 per month. This is often the easiest waiver because once it is set up, it happens automatically. Your employer, government benefit program, or other income source deposits money directly into your Bank of America account. The $250 can be a single deposit or multiple deposits that add up to $250 in a calendar month. You do not need to maintain any balance after the deposit arrives.

The third method is maintaining an active Bank of America credit card or investment account. An active credit card means you have opened one and use it occasionally (even small purchases count). An investment account means you hold a Bank of America brokerage account or mutual fund account. This waiver applies even if you carry a balance on the credit card or have minimal money in the investment account.

Which account types have no monthly fee at all

Before you focus on waivers, check whether you already hold an account type that has no monthly maintenance fee. Bank of America's eChecking account has no monthly fee and no minimum balance requirement. It is designed for customers who want basic checking without conditions. The trade-off is that it offers fewer features than Advantage Checking (for example, no overdraft protection), but for many people that does not matter.

Bank of America also offers Student Checking and Senior Checking accounts, both with no monthly fee. Student Checking is available to customers between 18 and 24 years old and requires proof of enrollment. Senior Checking is for customers 65 and older. If you fall into either category, switching to one of these accounts eliminates the fee entirely without any balance or deposit requirement.

You can ask a Bank of America representative whether you are currently in the right account type for your situation. If you opened your account years ago, you may be on an older product that has since been replaced by a better option.

How to request a refund if you have already been charged

If the $12 fee has already appeared on your statement, you can contact Bank of America and request a refund. Call the customer service number on the back of your debit card or visit a local branch. Be prepared to explain your situation: whether you are a new customer, whether you have been charged repeatedly, or whether you recently set up direct deposit or reached the minimum balance.

Bank of America often refunds the fee as a one-time courtesy, especially if you have been a customer for a long time or if you are new to the account. Some customers report that the bank has refunded multiple months of fees after a single call. There is no may provide, but the request costs nothing and takes a few minutes. If the representative declines, ask to speak with a supervisor or visit a branch in person, where you may have better luck.

Keep in mind that the refund is a courtesy, not a right. The bank is more likely to refund the fee if you commit to meeting one of the waiver conditions going forward (for example, setting up direct deposit). Frame your request as a one-time adjustment while you get your account set up correctly.

Setting up direct deposit to waive the fee going forward

If you receive a paycheck, government benefits, or other regular income, direct deposit is the most reliable way to avoid the fee permanently. Contact your employer's payroll department or the benefits program and ask for the direct deposit form. You will need to provide your Bank of America account number and routing number, both of which appear on the bottom left of your checks or in your online banking portal.

Once direct deposit is set up, the money arrives automatically on the same day each pay period. The $250 minimum can come from a single deposit or multiple deposits in the same month. For example, if you are paid twice a month, each paycheck needs to be at least $125 to meet the $250 threshold. If you receive Social Security, unemployment, or a pension, those deposits count toward the $250 minimum as well.

Direct deposit usually takes one to two pay cycles to set up after you submit the form. During that time, the $12 fee may still appear. Once it is active, the fee should stop. If it does not, contact your employer or benefits program to confirm the deposit is going to the correct account, then call Bank of America to verify they received it.

Maintaining the $1,500 minimum balance without overdrafting

If you choose the minimum balance waiver, the key is keeping $1,500 or more in the account at all times. This means budgeting carefully so that regular withdrawals do not dip below that threshold. Many people find this difficult because it requires keeping money idle that could be used for other expenses or invested elsewhere.

One strategy is to use a separate savings account for your emergency fund or money you do not plan to spend when ready, and keep only your regular spending money plus the $1,500 buffer in checking. This way, you avoid the fee while still having access to your money. Another strategy is to link a savings account to your checking account so that if your balance drops below $1,500, funds automatically transfer from savings to checking. Bank of America offers this feature, though it may trigger a transfer fee depending on your account type.

Track your balance regularly through online banking or the mobile app to make sure you never accidentally drop below $1,500. Even one day below the threshold triggers the fee for the entire month.

What to do if you cannot meet any of the waiver conditions

If you cannot maintain $1,500, do not have direct deposit, and do not want to open a credit card or investment account, you have two options. The first is to switch to Bank of America's eChecking account, which has no monthly fee and no conditions. You can request this change at any branch or by calling customer service. The second option is to move your account to a different bank that offers free checking without conditions.

Many online banks and credit unions offer checking accounts with no monthly fee, no minimum balance, and no direct deposit requirement. The trade-off is that you may lose access to Bank of America's branch network or ATM access, depending on where you live. If you use Bank of America's branches or ATMs frequently, the $12 monthly fee ($144 per year) may be worth it. If not, switching banks could save you money.

Frequently Asked Questions

Can I waive the fee by using my debit card a certain number of times per month?

No. Bank of America does not waive the Advantage Checking fee based on debit card usage. The three waivers are minimum balance, direct deposit, or an active credit card or investment account. Using your debit card frequently does not prevent the fee.

Does the direct deposit have to come from my employer, or can it be from anywhere?

Direct deposit can come from any source: an employer, Social Security, unemployment benefits, a pension, or a government program. The source does not matter. What matters is that the money is deposited directly into your account and totals at least $250 in the calendar month.

If I set up direct deposit, when does the fee stop appearing?

Direct deposit usually takes one to two pay cycles to set up after you submit the form to your employer or benefits program. The fee may still appear during the set up period. Once the first direct deposit hits your account, the fee should stop appearing in future months. If it does not, contact Bank of America to confirm they received the deposit.

What happens if my balance drops below $1,500 for just one day?

The $12 fee applies for that entire month. Bank of America checks your balance daily, and if it falls below $1,500 on any single day, you do not may have access to for the waiver that month. The fee will appear on your statement.

Can I get a refund if I was charged the fee multiple times?

Yes, you can request a refund for multiple months of fees. Call Bank of America or visit a branch and explain that you were not aware of the fee or the waiver options. The bank may refund several months as a courtesy, especially if you are a long-time customer or if you commit to setting up direct deposit or another waiver going forward.