Bank of America's checking account fees depend on which account you open

Bank of America charges different monthly fees for different checking accounts. The Advantage SafePass Checking account costs $12 per month. The Advantage Plus Checking account also costs $12 per month. The Advantage Relationship Checking account has no monthly fee. Which account you end up with depends on how you open it and what other products you use with the bank.

The monthly fee is waived if you meet certain conditions. For most accounts, you can avoid the fee by setting up direct deposit, maintaining a minimum balance, or keeping a linked savings account with Bank of America. The exact requirement varies by account type. You should confirm the current waiver conditions when you open the account, because Bank of America changes these terms periodically.

Beyond the monthly fee, Bank of America charges for specific actions: overdraft fees, out-of-network ATM fees, wire transfer fees, and stop payment requests all carry separate charges. These are not included in the monthly fee and explore regardless of which checking account you hold.

Key Takeaways

  • Advantage SafePass and Advantage Plus Checking both charge $12 per month, while Advantage Relationship Checking has no monthly fee.
  • You can waive the monthly fee on most accounts by setting up direct deposit, keeping a minimum balance, or linking a savings account.
  • Overdraft fees, ATM fees, and wire transfer fees are separate charges that explore on top of the monthly account fee.
  • The waiver conditions and fee amounts can change, so you should review your account terms when you open it and periodically after.

How the monthly fee works

The $12 monthly maintenance fee is charged on the first day of the billing cycle if you do not meet a waiver condition. Bank of America does not charge the fee retroactively — if you meet the waiver requirement partway through the month, you are not charged for that month. If you fail to meet it, the full $12 posts to your account.

The most common waiver is direct deposit. If you have a paycheck or government benefit deposited directly into the account, the monthly fee is waived for that month. You do not need a minimum amount — even a small direct deposit counts. The second waiver is a minimum balance: keeping at least $1,500 in the account at all times waives the fee. The third is linking a Bank of America savings account with at least $500 in it.

If you meet any one of these conditions, you pay nothing. You do not need to meet all three. Many people use direct deposit and never see the fee. Others maintain the minimum balance and skip direct deposit entirely.

Overdraft and out-of-network ATM fees

If your account goes negative, Bank of America charges an overdraft fee. The fee is $35 per overdraft transaction. A transaction is one debit card purchase, check, or ATM withdrawal — not the total amount overdrawn. If you overdraw by $5 and then make another purchase while still negative, that is two separate $35 fees.

Bank of America allows up to four overdraft fees per day. After that, additional overdrafts are declined rather than charged. This means you cannot rack up unlimited overdraft fees in a single day, but you can still face $140 in fees if you make four separate transactions while overdrawn.

Using an ATM outside the Bank of America network costs $2.50 per withdrawal. This fee applies whether you use a competitor's ATM or an independent ATM in a store or gas station. Bank of America has a large ATM network, so many customers avoid this fee by planning ahead.

Wire transfers and other transaction fees

Sending a domestic wire transfer costs $15. An international wire transfer costs $45. These fees are charged when you initiate the transfer, not when it arrives. If you send a wire and then cancel it before it posts, you are still charged the fee.

Stopping payment on a check costs $30. This is useful if you write a check and then realize you need to cancel it before the recipient cashes it, but it is an expensive option. Requesting a copy of a cancelled check costs $5. Ordering new checks through Bank of America costs money as well, though the exact price depends on the style and quantity you order.

Bank of America does not charge fees for basic transactions like deposits, withdrawals, or transfers between your own accounts. Debit card purchases and online bill pay are also free.

How to compare these fees to other banks

Bank of America's $12 monthly fee is higher than many online banks and credit unions, which often offer checking accounts with no monthly fee at all. However, Bank of America has physical branches in most U.S. states and a large ATM network, which some people value enough to pay the fee.

If you receive direct deposit, the fee disappears, making the account effectively free. If you do not receive direct deposit and cannot maintain the minimum balance, you will pay $144 per year in monthly fees alone, plus any overdraft or ATM fees you incur.

When comparing banks, look at the full picture: monthly fee, overdraft fee, out-of-network ATM fee, and whether you can waive the monthly fee based on your actual banking habits. A bank with a higher monthly fee but a lower overdraft fee might cost less overall than a bank with no monthly fee but a higher overdraft fee, depending on how often you overdraw.

What happens if you close your account

If you close your Bank of America checking account, you will not be charged the monthly fee for the month you close it. You should confirm this with the bank when you close the account, but Bank of America does not pro-rate the fee or charge you for a partial month.

Any pending transactions — checks you wrote that have not cleared, automatic payments scheduled for later in the month — may still post after you close the account. Make sure you have enough money in the account to cover these before you close it, or contact the bank to cancel the pending transactions first.

Frequently Asked Questions

Can I avoid the $12 monthly fee without direct deposit?

Yes. You can waive the fee by keeping $1,500 in the account at all times, or by linking a Bank of America savings account with at least $500 in it. You do not need direct deposit if you meet one of the other conditions.

How much does Bank of America charge for overdrafts?

Each overdraft transaction costs $35. Bank of America allows up to four overdraft fees per day, so the maximum daily charge is $140. Transactions after the fourth are declined rather than charged.

Is there a fee for using another bank's ATM?

Yes, $2.50 per withdrawal. Bank of America has a large ATM network, so you can often find a Bank of America ATM nearby to avoid the fee.

What is the fee for sending money to another country?

International wire transfers cost $45. Domestic wire transfers cost $15. Both fees are charged when you send the transfer, not when it arrives.

Do I pay the monthly fee if I close my account mid-month?

No. Bank of America does not charge the monthly fee for the month you close the account. You should confirm this when you initiate the closure.