Advantage Plus Banking Bank of America: A Comprehensive Review

Advantage Plus Banking Bank of America offers a comprehensive suite of benefits to its customers, including a generous interest rate on checking accounts, a $200 bonus for new customers, and a range of financial tools to help manage your money.

This bank is a good option for those who want to earn rewards on their everyday purchases, with a rewards program that offers points for every dollar spent.

The bank's mobile app is user-friendly and allows for seamless account management, including bill pay and transfer capabilities.

With Advantage Plus Banking, you can earn a 3.0% interest rate on your checking account balance, which is a great way to earn some extra cash without much effort.

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Bank of America's Advantage Plus Banking offers a range of perks, including flexible banking options and the ability to pay with a debit card, mobile banking, or paper checks.

You can avoid the $12 monthly maintenance fee by meeting one of the following conditions: having a direct deposit of $250 or more, maintaining a minimum daily balance of $1,500, or being a member of Bank of America Preferred Rewards.

Here are some ways to waive the monthly fee:

Having a bank account with perks can make a big difference in your financial life. Bank of America's Advantage Plus Banking account offers several benefits that can help you save money and stay organized.

One of the best perks is the ability to waive the $12 monthly maintenance fee. You can do this by maintaining a $1,500 daily balance or by being a member of Bank of America Preferred Rewards. This can save you money every month.

Bank of America has a large network of ATMs, with over 16,000 locations across the country. This means you can access your money almost anywhere.

The bank also offers a Keep the Change Savings Program, which automatically rounds up your purchases to the nearest dollar and deposits the extra change into your savings account. This can help you save money without even thinking about it.

Here are some additional perks that come with the Advantage Plus Banking account:

Overall, the Advantage Plus Banking account offers a range of benefits that can help you manage your finances and save money.

Overdraft protection is a lifesaver, especially if you're prone to overspending. Bank of America's Advantage Plus Banking account comes with a feature called Balance Connect that lets you connect up to five eligible accounts to prevent overdrafts.

If you attempt to make a purchase but lack sufficient funds, Balance Connect will transfer money from the linked backup accounts to cover the transaction. There are no transfer fees for this service, making it a convenient option.

You can link a variety of accounts, including deposit accounts, credit cards, and home equity lines of credit, giving you more flexibility in managing your finances. This feature can save you money in the long run by avoiding overdraft fees.

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The Bank of America Advantage Plus Banking account comes with a $12 monthly fee, which can be waived by meeting certain requirements.

To avoid the monthly fee, you can receive direct deposits of at least $250 per month, maintain a balance of $1,500 per month, or become a member of the Preferred Rewards program.

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The Preferred Rewards program requires maintaining a minimum balance of at least $20,000 across your BofA accounts for three months, but it doesn't come with any other monthly fees.

You'll also be charged an overdraft fee of $10 per item, which applies to transactions over $1 and can be incurred up to four times a day.

To avoid an overdraft fee, you can sign up for overdraft protection with Balance Connect, which can authorize transfers from a linked Bank of America savings or secondary checking account.

Using a non-Bank of America ATM will cost you $2.50 per U.S. transaction, plus any fees charged by the ATM operator, and $5 per transaction outside of the U.S.

Here are some of the other fees you might encounter:

With Advantage Plus Banking, you can open an account with a minimum deposit of $100. To waive the monthly maintenance fee, you'll need to keep a balance of $1,500, make a direct deposit of at least $250 each statement cycle, or become a member of Bank of America Preferred Rewards.

This account allows you to write checks and enroll in overdraft protection, which can be a big plus for those who need it. You can also earn interest on your balance, although the article doesn't specify the interest rate.

Here are the key benefits of Advantage Plus Banking at a glance:

You have a lot of options when it comes to accessing your cash. There are thousands of branches and ATMs to choose from, making it easy to bank in-branch or at an ATM.

You can also buy paper checks if you need them, but with bill pay available through online and mobile banking, you might not need to. Bill pay is a convenient way to pay your bills without writing a check.

If you need to send or receive money, Zelle is a great option. It's integrated into the online and mobile banking systems, making it easy to use.

Debit card withdrawals are limited to $1,500 per day, so be mindful of that if you're using an ATM. Debit card purchases, on the other hand, have a higher threshold of $5,000 per day.

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Checking accounts from Bank of America offer flexibility and convenience. You can choose from three distinct account options, each with its own benefits.

The Bank of America Advantage SafeBalance Banking account has no overdraft fees, and the monthly maintenance fee can be waived if you're under 25, maintain a minimum daily balance of $500, or join Bank of America Preferred Rewards. The minimum opening deposit is just $25.

The Bank of America Advantage Plus Banking account allows you to write checks and enroll in overdraft protection, but you'll need to keep a balance of $1,500 or have one direct deposit of at least $250 each statement cycle to waive the monthly maintenance fee. The minimum opening deposit is $100.

If you have higher balances, you might want to consider the Bank of America Advantage Relationship Banking account, which earns interest on your balance. You'll need to maintain a minimum daily balance of $20,000 or join Bank of America Preferred Rewards to waive the monthly maintenance fee.

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Here are the details for each account option:

Relationship features are designed to help you manage your finances and avoid unnecessary fees. Bank of America Advantage Relationship Banking has a monthly maintenance fee of $25, but you can waive it by maintaining a balance of $10,000 or more in combined eligible accounts each statement cycle.

You can also earn interest on your balance, which is a great way to grow your savings over time. The interest rate varies by balance size, ranging from 0.01% to 0.02%.

To avoid overdraft fees, you can enroll in Balance Connect, which provides overdraft protection. If you don't have Balance Connect, you'll be charged $10 per item, with a maximum of 2 items per day.

Here are some ways to avoid the monthly maintenance fee:

Business Advantage Relationship Banking also offers several ways to avoid the monthly fee, including maintaining a $15,000 combined average monthly balance or becoming a member of Preferred Rewards for Business.

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The Advantage Plus Banking account from Bank of America offers a range of rewards and benefits that can help you save money and earn more.

Preferred Rewards membership is available to eligible customers who maintain a three-month average daily balance, and having a Bank of America checking account is a requirement.

To unlock the full potential of Preferred Rewards, you'll need to meet the balance requirements, which vary by tier: Gold ($20,000 to $50,000), Platinum ($50,000 to $100,000), Platinum Honors ($100,000 to $1 million), and Diamond ($1 million to $10 million).

With Preferred Rewards, you can enjoy perks like interest rate boosters on BofA's money market account, home loan origination fee discounts, and reward bonuses on select BofA credit cards.

Here are some of the specific benefits you can expect from Preferred Rewards:

In addition to these benefits, Advantage Plus Banking customers can also enjoy perks like earning cash back with BankAmeriDeals, sending and receiving money with Zelle, and using over 16,900 fee-free Bank of America ATMs.

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Rewards and Benefits are a big part of what makes banking with Bank of America so great. With Preferred Rewards, you can earn perks like a 5% interest-rate boost on your Bank of America Advantage Savings account.

To qualify for Preferred Rewards, you'll need to maintain at least $20,000 in combined balances across all your eligible Bank of America bank accounts and Merrill investment accounts. This opens up a world of benefits, including fee waivers on monthly maintenance fees and select banking services.

One of the best perks of Bank of America is the ability to earn cash back with BankAmeriDeals. Offers apply to participating stores and restaurants, so you can earn rewards on purchases you already make. Activation is required to benefit from each deal.

You'll also have access to over 16,900 fee-free Bank of America ATMs, making it easy to get cash or deposit money without paying a fee. Mobile check deposit is another convenient feature, allowing you to easily take a photo of a check and deposit it from within the Bank of America mobile app.

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If your card is stolen, lost or misplaced, you can lock and unlock it to halt most new transactions. This can give you peace of mind and help prevent unauthorized charges. Autopay, returns, credits and some other transactions may continue to be processed, however.

Here are some of the perks you can expect with Bank of America:

To access the Preferred Rewards program, you'll need to maintain a three-month average daily balance, and have a Bank of America checking account, which includes the Advantage Plus Banking account.

The program offers great perks, such as interest rate boosters on BofA's money market account, home loan origination fee discounts, and reward bonuses on select BofA credit cards.

To become eligible for the program, you'll need to meet specific balance requirements, ranging from $20,000 to $10 million, depending on the tier.

Here are the specific balance requirements for each tier:

By joining the rewards program, you'll also be able to waive the monthly maintenance fee for the Advantage Plus account, making it a win-win.

To access Preferred Rewards benefits, you'll need to maintain at least $20,000 in combined balances across all your eligible Bank of America bank accounts and Merrill investment accounts.

These benefits include a 5% interest-rate boost on your Bank of America Advantage Savings account, fee waivers on monthly maintenance fees, and 25% rewards bonuses on eligible Bank of America credit cards.

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If you're looking to earn a bonus with your business checking account, Bank of America has a $200 offer that's worth considering. The offer is only available online, so you'll need to open your account through their promotional page.

To qualify for the bonus, you'll need to deposit $5,000 or more in new money into a new eligible Bank of America Business Advantage Banking account within 30 days of account opening. This new money can't be transferred from other Bank of America deposit accounts or Merrill investment accounts.

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The bonus is only available to new eligible business checking customers, and the offer expires on December 31, 2025. To keep the bonus, you'll need to maintain an average balance of $5,000 in your new Business Advantage Banking account during the 90-day maintenance period.

Here are the key requirements to earn the $200 bonus:

Bank of America will attempt to pay the bonus within 60 days of meeting all the requirements. Don't forget to review the additional terms and conditions on their offer page for more details.

With Advantage Plus banking, you have thousands of branches and ATMs to choose from, making it easy to access your account.

You can bank in-branch or at an ATM, and you also have the option to buy paper checks.

Bill pay is available through online and mobile banking, so you might not need to buy paper checks after all.

You can also send and receive money with Zelle, which is a convenient way to transfer funds to others.

Scheduling automatic transfers from Advantage Plus into another account is a great way to manage your finances and stay on top of your bills.

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Mobile banking is a convenient way to manage your finances on the go. You can use the Bank of America Mobile Banking app to deposit checks and transfer money.

The app also allows you to pay bills and manage your digital wallets. This can be a huge time-saver, especially if you're always on the move.

Erica, the Bank of America virtual financial assistant, is available to help you with any questions or concerns you may have. She can point you in the right direction and provide guidance on how to use the app.

The app provides advanced security features, including Touch ID or Face ID sign-in and account alerts. This can give you peace of mind knowing that your accounts are secure.

Taking measures such as using a strong password and login enhancement can also increase the security of your bank accounts.

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You can access your cash through various methods. With thousands of branches and ATMs to choose from, you have easy access to your account.

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You can visit a branch or use an ATM to access your cash. You can also buy paper checks, but bill pay is a convenient alternative available through online and mobile banking.

If you don't need cash, you can use Zelle to send and receive money within minutes. Zelle is conveniently integrated into the mobile app.

Debit card withdrawals from an ATM are limited to $1,500 per day. Debit card purchases have a higher threshold of $5,000 per day.

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Business Relationship banking offers flexibility and convenience for businesses.

You can avoid the $29.95 monthly fee by maintaining a $15,000 combined average monthly balance or becoming a member of Preferred Rewards for Business.

Bank of America's Business Advantage Relationship Banking has no fee for the first 500 transactions per statement cycle.

Additionally, there's no fee for the first $20,000 in cash deposited per statement cycle.

Customer service representatives are available Monday-Friday, 8 AM to 11 PM ET, and Saturday and Sunday, 8 AM to 8 PM ET.

They also offer automated support 24/7.

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Opening an account with Bank of America can be done in a few ways. You can visit a branch location in person to open an account.

To open an Advantage Plus Banking Account online, you'll need to collect some information first. This includes your name, birthdate, contact information, and Social Security number, as well as a payment method for your $100 minimum opening deposit.

You'll need to navigate to the offer page and select the Advantage Plus account. This will take you to the application page where you can follow the prompts to complete the application.

The offer code AFC300CIS will be filled in for you automatically.

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Advantage Plus Banking with Bank of America offers a variety of savings and investment options to help you reach your financial goals.

With the Bank of America Advantage Plus Banking account, you can earn a higher interest rate on your savings compared to a traditional savings account. This can help your money grow over time.

One of the key benefits of Advantage Plus Banking is the ability to earn interest on your balance, which can add up to a significant amount over time.

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APY can be a bit confusing, especially when it's tiered like some savings accounts. The Bank of America Advantage Relationship Banking account, for example, offers a 0.01% APY on balances under $100,000.

You might be wondering why it's the same rate for balances between $50,000 and $100,000. It's because the account's interest rates are tiered, and this particular rate applies to those two ranges.

For larger balances, however, the APY increases to 0.02% for accounts with balances of $100,000 and above.

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If you're looking to save your money, Bank of America has a basic savings account option called Advantage Savings. You'll need to open it with a $100 deposit to get started.

This account offers tiered interest rates, which means you can earn higher interest rates if you're a member of Bank of America's Preferred Rewards program. If you're under 25 or a member of the Preferred Rewards program, you'll also get a break on the monthly maintenance fee.

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The monthly maintenance fee is waived if you have a daily balance of at least $500 or if you link it to one of their other accounts, like Advantage Relationship Banking or Tiered Interest Checking. New accounts get a six-month free pass on the maintenance fee.

Here are some key details about the Advantage Savings account:

If you're looking to save for retirement, Bank of America offers IRA options to help you get started.

You can choose between a Savings IRA and an Investment IRA.

A Savings IRA provides stability with predicted returns and FDIC insurance on your deposits and earnings, which can be a good option if you prefer to play it safe.

You can invest in IRA CDs and money market accounts with Bank of America.

If you need a more aggressive retirement plan, you can open an Investment IRA with Merrill Edge and invest in stocks, bonds, mutual funds, and ETFs.

Here are the main differences between the two options:

Bank of America's Advantage Plus Banking is a traditional banking experience best suited for existing customers who can waive the $12 monthly fee.

This fee can be waived in four ways, making it a viable option for those who meet the requirements.

The account comes with a $100 opening deposit requirement and a 15,000 ATM network, smaller than other banks of its size.

When considering checking accounts, it's essential to weigh the pros and cons of each option. Bank of America offers three distinct checking accounts, each with its own set of features.

The Bank of America Advantage SafeBalance Banking account has no overdraft fees, and you can only spend what you have. The monthly maintenance fee can be waived if you're under 25 or maintain a minimum daily balance of $500 or more.

The minimum opening deposit for this account is $25, which is a relatively low barrier to entry. If you're a student or young adult, this account might be a great option.

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The Bank of America Advantage Plus Banking account requires a minimum opening deposit of $100 and comes with the ability to write checks and enroll in overdraft protection. To waive the monthly maintenance fee, you'll need to keep a balance of $1,500 or have one direct deposit of at least $250 each statement cycle.

In comparison, the Bank of America Advantage Relationship Banking account requires a higher minimum daily balance of $20,000 to waive the monthly maintenance fee. However, it's an interest-bearing account with a relatively low opening deposit of $100.

Here's a quick comparison of the three accounts:

Ultimately, the best checking account for you will depend on your individual financial situation and needs. Be sure to carefully review the features and requirements of each account before making a decision.

Bank of America's Advantage Plus Banking is a solid choice for those who value tradition and already have an account with the bank. It's a simple checking account with multiple ways to access your money.

The account lacks unique features, which makes it hard to recommend, especially considering the $12 monthly fee. This fee can be waived, but you'll still need to meet the $100 opening deposit requirement.

Bank of America is a well-established institution with a long history in the US, dating back to the 1920s. It's one of the Big Four banks and the second-largest bank in the US by assets.

The bank's extensive branch network of around 3,900 locations nationwide is a major advantage. However, its ATM network is smaller than other banks of its size, with only 15,000 locations.

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This checking account can be a good choice if you meet the requirements to waive the monthly fee.

Overall, there are four ways to waive the monthly maintenance fee.

If you can meet the requirements, this account might be a good fit for you.

The requirements to waive the monthly fee are worth considering if you're looking for a reliable checking account.

By meeting these requirements, you can avoid the monthly maintenance fee.

Ultimately, it's up to you to decide if this account is right for your banking needs.

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With Bank of America's Advantage Relationship Banking, you can manage your account with ease. You can earn interest on your balance, which is a great perk.

The bank offers overdraft protection through Balance Connect, which can help prevent unexpected fees. However, if you don't enroll in Balance Connect, you'll be charged $10 per item, up to 2 items per day.

To avoid the $25 monthly maintenance fee, you can maintain a minimum daily balance of $20,000 or become a member of Bank of America Preferred Rewards. This can save you money in the long run.

If you're a business owner, you can take advantage of Business Advantage Relationship Banking, which offers no fee for the first 500 transactions per statement cycle. You can also deposit up to $20,000 in cash without incurring a fee.

Here are some ways to avoid the $29.95 monthly fee for Business Advantage Relationship Banking:

Customer service representatives are available to help you with any questions or concerns. You can reach them Monday-Friday from 8 AM to 11 PM ET, and Saturday and Sunday from 8 AM to 8 PM ET. They also offer automated support 24/7, which can be a big help when you need it quickly.

Bank of America's Advantage Plus banking offers a range of benefits to its customers.

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The website highlights Bank of America's current promotions, which can be a valuable resource for those looking to save money.

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