Advantage Plus is a checking account, but with limits that matter

Advantage Plus Banking is Bank of America's checking account product, but it comes with spending caps and monthly fees that make it different from a standard checking account. You can write checks, use a debit card, and set up direct deposit—the core features of checking—but you're limited to six withdrawals or transfers per month before fees kick in. If you exceed that, you pay $10 per transaction. The account also charges a $12 monthly maintenance fee unless you meet one of the fee-waiver conditions.

The account was originally designed for customers who don't use their accounts heavily, but the withdrawal limit is the feature that separates it from Bank of America's other checking products. Most people comparing checking accounts need to know upfront whether those limits will affect how they actually use money.

Key Takeaways

  • Advantage Plus is a checking account with a six-transaction monthly limit before you pay $10 per excess withdrawal or transfer.
  • The account charges $12 per month unless you maintain a $500 minimum balance or set up direct deposit of at least $250.
  • You can write checks and use the debit card without limit, but moving money in and out of the account beyond six times per month costs extra.
  • Bank of America offers other checking accounts without transaction limits if you need to move money more frequently.

What counts toward the six-transaction limit

Bank of America counts certain movements of money as transactions under the Advantage Plus terms. Withdrawals at the ATM, transfers to another account, and payments made through bill pay all count toward your six. Debit card purchases do not count—you can swipe your card as many times as you want without hitting the limit.

Deposits and checks you deposit do not count either. The limit applies only to money leaving the account or moving between accounts. If you use your debit card for everyday spending and rarely transfer money, you may never hit the limit. If you move money to savings, pay bills online, or withdraw cash regularly, you'll likely exceed six transactions in a month.

Monthly fees and how to avoid them

The $12 monthly maintenance fee applies unless you meet one of two conditions: keep a $500 minimum balance in the account at all times, or set up a direct deposit of at least $250 per month. Many employers can set up direct deposit in minutes through payroll, which is the easiest path to waiving the fee. If you receive Social Security, unemployment, or other regular deposits, those count as direct deposit.

The $500 minimum balance requirement is straightforward but can be difficult if you live paycheck to paycheck. The balance must not drop below $500 at any point during the month—one withdrawal that takes you below triggers the fee. Direct deposit is often the more reliable option because it's automatic and doesn't depend on your balance staying at a specific level.

When Advantage Plus makes sense versus other checking accounts

Advantage Plus works best for people who rarely move money and have a reliable income source for direct deposit. If you get paid regularly and mostly use your debit card, the account can be free and functional. It's also an option if you have limited banking history or credit, since Bank of America does not require a credit check to open it.

If you move money frequently—paying bills online, transferring to savings, withdrawing cash multiple times a month—you'll pay more with Advantage Plus than with a standard checking account. Bank of America's Checking account has no transaction limits and no monthly fee if you maintain a $500 balance or set up direct deposit. If you want no balance requirement at all, some online banks and credit unions offer checking accounts with no fees and no limits.

How the six-transaction limit actually works in practice

The limit resets each calendar month. If you use five transactions in January, you start February with six available again. The count includes all withdrawals and transfers combined—it's not six of each, but six total. Once you exceed six, each additional transaction costs $10.

Bank of America notifies you when you're approaching the limit, but the notification comes after the transaction posts. You don't get a warning before you hit the seventh transaction. If you regularly exceed six, the fees add up quickly: two extra transactions per month means $20 in fees, on top of the $12 maintenance fee if you don't have direct deposit.

Overdraft protection and what happens if your balance goes negative

Advantage Plus includes overdraft protection options, but they come with their own costs. If you don't link the account to savings or another account, a transaction that would overdraw you gets declined. If you do link overdraft protection, Bank of America transfers money from your linked account to cover the shortfall, and charges you $12.50 per transfer.

Overdraft fees are separate from the transaction limit fees. A single overdraft transfer counts as one transaction toward your six-transaction limit, so you could hit both the overdraft fee and the excess-transaction fee on the same month if you're not careful.

Frequently Asked Questions

Can I switch from Advantage Plus to a different Bank of America checking account?

Yes. You can convert to Bank of America's standard Checking account or another product at any branch or online. There's no penalty for switching. If you find the transaction limit frustrating, moving to a different account is straightforward and costs nothing.

Does a debit card purchase count as a transaction?

No. Debit card purchases at stores, online, or anywhere else do not count toward the six-transaction limit. Only ATM withdrawals, transfers between accounts, and bill pay count. You can use your debit card as much as you want without triggering extra fees.

What if I don't have direct deposit but need to waive the monthly fee?

Keep a $500 minimum balance in the account at all times. The balance cannot drop below $500 at any point during the month. If you don't have steady income or savings to maintain that balance, you'll pay the $12 monthly fee.

Do checks I deposit count toward the transaction limit?

No. Deposits—whether by check, cash, or transfer—do not count. Only money leaving the account or moving to another account counts toward the limit.

What happens if I exceed six transactions in a month?

Each transaction beyond six costs $10. If you make eight transactions, you pay $20 in excess fees that month, plus the $12 monthly maintenance fee if you don't have direct deposit or the minimum balance. The fees are charged to your account automatically.