How to find out what type of account you have

The fastest way is to log into your Bank of America account online or in the mobile app and look at your account name. Bank of America displays the account type right next to the account number on your dashboard — it will say "Checking" or "Savings" explicitly. If you see "Interest Checking" or "Premium Checking," those are checking accounts with added features.

If you do not use online banking, call Bank of America at 1-800-432-1000 and give them your account number. They will tell you the account type in under a minute. You can also visit a branch in person with your debit card or ID, and a teller will confirm it when ready.

Your monthly statement also shows the account type at the top, so check your most recent paper or electronic statement if you have one on hand.

Key Takeaways

  • Your Bank of America account type appears in your online dashboard next to the account number and on your monthly statement.
  • Checking accounts let you write checks and use a debit card with no limit on transactions, while savings accounts restrict how often you can withdraw money.
  • Bank of America offers checking accounts with different fee structures and interest rates, so the name alone does not tell you the full feature set.
  • If you are unsure whether you need checking or savings, the difference comes down to how often you need to access your money and whether you want to earn interest.

What checking and savings accounts do differently

A checking account is built for frequent transactions. You can write unlimited checks, use your debit card as many times as you want, set up automatic bill payments, and transfer money out without restriction. Bank of America checking accounts typically do not earn interest on your balance, though some premium versions offer a small rate.

A savings account is built to hold money and earn interest. Federal rules limit you to six withdrawals per month (though Bank of America does not enforce this limit as strictly as they once did). You cannot write checks or use a debit card directly from a savings account. The tradeoff is that your money grows slightly through interest, even if the rate is low.

If your account name includes words like "Money Market" or "Certificate of Deposit" (CD), those are specialized savings products with their own rules — ask a teller or call the number above to understand the specific terms.

Why the distinction matters for fees and interest

Bank of America charges a monthly maintenance fee on most checking accounts unless you meet one of these conditions: keep a minimum balance (usually $500 to $1,500), set up direct deposit, or maintain a linked savings account. The fee is typically $12 per month if you do not meet any condition.

Savings accounts at Bank of America have lower or no monthly fees, but the interest rate is very small — often less than 0.01% annually. This means a $1,000 balance earns only a few cents per year. The real benefit of a savings account is that it separates money you want to keep from money you spend regularly.

If you have both a checking and savings account linked together, Bank of America may waive the checking fee. This is worth asking about when you call or visit a branch.

How to switch account types if you have the wrong one

You do not have to close your account and open a new one. Bank of America can convert a checking account to savings or vice versa by phone, in the app, or in person at a branch. Call 1-800-432-1000 and ask to convert your account, or visit any branch with your ID.

The conversion is when ready and free. Your account number stays the same, so any automatic payments or direct deposits linked to the old account will continue without interruption. If you have a debit card tied to a checking account you are converting to savings, you will need to request a new card or ask whether the old one will still work (Bank of America will tell you during the conversion).

If you want to keep both types of accounts, you can open a second account instead of converting. Bank of America allows multiple accounts per person, and opening a new one takes about 10 minutes online or in a branch.

What happens if you use a savings account like checking

Bank of America does not penalize you for exceeding the six-withdrawal limit per month anymore — the federal rule that enforced this was suspended. However, your savings account still does not come with a debit card or checkbook, so you cannot make purchases or pay bills directly from it the way you would with checking.

If you frequently need to move money out of a savings account, you are probably using the wrong account type. Switching to checking takes five minutes and costs nothing. A checking account is designed for exactly this use case.

Account names that can be confusing

Bank of America uses specific names for different products, and the names do not always make the account type obvious. "Interest Checking" is a checking account (not savings) that earns a small amount of interest. "Premium Checking" is also checking, just with higher minimum balance requirements and more features. "Money Market Savings" is a savings account, despite the word "market" in the name.

The safest approach: do not rely on the product name alone. Log in, call, or visit a branch and ask directly. A teller or customer service representative will clarify in seconds what you actually have.

Frequently Asked Questions

Can I have both checking and savings accounts at Bank of America?

Yes. You can open multiple accounts of each type. Many people keep a checking account for daily spending and a savings account for emergency money or goals. Linking them together may also reduce or eliminate checking account fees.

Does Bank of America charge me for having a savings account?

Most Bank of America savings accounts have no monthly maintenance fee. Some specialty savings products (like Money Market accounts) may have fees if you fall below a minimum balance, so check your statement or ask a teller about your specific account.

What if I set up direct deposit to a savings account?

Direct deposit works with both checking and savings accounts. If your employer deposits to a savings account, the money arrives the same way it would in checking. However, you still cannot write checks or use a debit card from savings, so you would need to transfer money to checking to spend it.

Will my debit card stop working if I convert checking to savings?

Yes. Debit cards are tied to checking accounts. If you convert to savings, Bank of America will deactivate the card. You can request a new debit card if you open a checking account, or you can keep both accounts open — one checking (with the card) and one savings.

How do I know if my account has a monthly fee?

Check your most recent monthly statement — the fee appears as a line item. You can also log into your account online and look at recent transactions, or call 1-800-432-1000 and ask. If you are being charged and do not want to be, ask about waiving the fee by meeting the minimum balance or setting up direct deposit.