What Bank of America charges for monthly maintenance

Bank of America charges a $12 monthly maintenance fee on most of its checking accounts, though the fee is waived if you meet certain conditions. The fee applies to accounts like the Checking Account and Interest Checking Account. Some accounts, like the SafePass Checking Account (designed for people with banking history issues), do not carry a monthly fee at all.

The $12 fee posts on the same day each month, usually the first business day. If your account balance drops below the threshold or you fail to meet other waiver conditions, the fee will appear as a line item on your statement. You can dispute a single fee if it was charged in error, but Bank of America will not refund fees that were charged because you did not meet the waiver requirements.

The monthly maintenance fee is separate from overdraft fees, out-of-network ATM fees, and other charges. It is purely a cost for holding the account itself, regardless of how much you use it or whether you maintain a balance.

Key Takeaways

  • Bank of America's standard checking accounts carry a $12 monthly maintenance fee that posts automatically unless you meet a waiver condition.
  • The fee is waived if you maintain a $500 minimum daily balance, set up a direct deposit of at least $250 per month, or link a Bank of America savings or money market account with $500 in it.
  • SafePass Checking has no monthly maintenance fee and is designed for people rebuilding their banking history.
  • Once a fee is charged, you can contact Bank of America to dispute it if you believe it was posted in error, but fees charged because you did not meet waiver conditions are not refunded.

How to waive the $12 monthly fee

Bank of America offers three main ways to avoid the monthly maintenance charge. The easiest for most people is to maintain a $500 minimum daily balance in the checking account itself. This means your balance must stay at or above $500 every single day of the month—if it dips to $499 on any day, the fee will be charged.

The second option is to set up a direct deposit of at least $250 per month. This includes paychecks, government benefits, pension payments, or transfers from another account. The deposit must post to the account; straightforward scheduling a transfer does not count. Many people find this the most practical option because it happens automatically once set up.

The third option is to link a Bank of America savings account or money market account with a $500 minimum balance to your checking account. The savings account must maintain its own $500 minimum; the balance does not combine with your checking balance. This works well if you already have a savings account with Bank of America or are willing to open one.

You only need to meet one of these conditions to waive the fee. If you meet more than one, the fee is still waived—there is no additional benefit for meeting multiple conditions.

What happens if the fee is charged

If the $12 fee appears on your statement and you believe it was charged in error, contact Bank of America directly through your online account, by phone at 1-800-432-1000, or at a branch. Have your statement ready and explain why you think the fee should not have been charged—for example, if your balance never dropped below $500 or if a direct deposit should have posted.

Bank of America may reverse a single fee if you can show it was a mistake. However, if the fee was charged because you did not meet a waiver condition, the bank will not refund it. Some customers report success asking for a one-time courtesy reversal if they have been a long-standing customer with no prior fee disputes, but this is not may provide and is at the bank's discretion.

If you are charged the fee repeatedly and cannot meet the waiver conditions, switching to SafePass Checking or moving to a different bank may be more cost-effective. A $12 monthly fee adds up to $144 per year, which is significant if you are living on a tight budget.

SafePass Checking as a fee-free alternative

Bank of America offers SafePass Checking specifically for people who have had banking problems in the past—such as overdrafts, closed accounts, or negative banking history. This account has no monthly maintenance fee, no overdraft fees, and no minimum balance requirement. It is designed to help people rebuild their banking relationship with the bank.

SafePass Checking does have limitations. You cannot write checks, and you have limited debit card access initially. The account is primarily for electronic transfers and direct deposits. However, if your main goal is to avoid the $12 monthly fee and you do not need check-writing, this account eliminates the cost entirely.

To open SafePass Checking, you will need to visit a Bank of America branch in person. The bank uses ChexSystems (a banking history database) to determine whether you are may be able to access. If you have been denied accounts at other banks due to banking history, you may still may have access to for SafePass.

Comparing Bank of America fees to other banks

The $12 monthly maintenance fee is higher than what many other banks charge. Many online banks and credit unions offer checking accounts with no monthly fee and no minimum balance. However, Bank of America offers physical branches nationwide, which some people value for in-person service and cash deposits.

If you are comparing options, consider what matters most to you: branch access, online tools, customer service, or lowest cost. A bank with no monthly fee but no branches near you may not be practical. Conversely, paying $144 per year for branch access might not be worth it if you rarely visit a branch.

Some regional banks and credit unions charge $5 to $10 per month for checking, which is lower than Bank of America but still not zero. If you can meet one of Bank of America's waiver conditions—especially the direct deposit option—the $12 fee becomes irrelevant and the bank's branch network becomes a genuine advantage.

How to set up direct deposit to waive the fee

Setting up direct deposit is the most reliable way to waive the $12 fee because it happens automatically each month. You will need your Bank of America account number and routing number, which you can find on the bottom left of any check or in your online banking portal under account details.

Contact your employer's payroll department or the benefits office handling your government payments (Social Security, unemployment, tax refunds, etc.). Provide them with your Bank of America account number and routing number. Most employers can set up direct deposit within one pay cycle. Government benefits typically take one to two weeks to process.

Once direct deposit is active, the $12 fee will be waived automatically each month, as long as the deposit is at least $250. You do not need to do anything else or contact Bank of America to confirm. The waiver applies when ready in the month the first may have access to deposit posts.

Frequently Asked Questions

Can I get the monthly fee refunded if I just opened the account?

Bank of America may reverse the fee once if you contact them within a few days of opening the account and before the fee posts. After the fee is charged, reversals depend on whether you can show the fee was an error or whether the bank grants a courtesy reversal. There is no automatic grace period for new accounts.

Does the $500 minimum balance have to be in checking, or can it be spread across accounts?

For the direct balance waiver, the $500 must be in the checking account itself. For the linked savings account waiver, the $500 must be in the savings account. Balances do not combine across accounts to meet the threshold.

What if my direct deposit is less than $250 per month?

The direct deposit must be at least $250 per month to waive the fee. If your deposit is $200, the fee will still be charged. You would need to meet one of the other waiver conditions instead—either the $500 balance or the linked savings account.

Will Bank of America refund multiple months of fees if I did not know about the waiver conditions?

Bank of America typically refunds only one or two months of fees as a courtesy, even if you were unaware of the waiver options. The bank is not required to refund fees charged in prior months. If you have been charged repeatedly, contact the bank and explain your situation, but do not expect a full refund of all past fees.

Is there a way to avoid the fee without meeting any of the waiver conditions?

SafePass Checking has no monthly fee and no minimum balance. If you cannot meet the standard waiver conditions and do not need check-writing, this is your best option. Otherwise, you will need to either meet one of the three waiver conditions or switch to a different bank.