Understanding Monthly Maintenance Fee Bofa and Your Options

The monthly maintenance fee from Bank of America (BofA) can be a real surprise, especially if you're not expecting it. This fee is typically $12 per month, but it can vary depending on your account type.

You can avoid this fee by maintaining a minimum balance in your account, which is $1,500 for most accounts. This is a great way to save money and avoid unnecessary charges.

BofA offers a variety of account options that can help you avoid the monthly maintenance fee. For example, their Advantage Banking accounts don't have a monthly maintenance fee if you have direct deposit or keep a minimum balance.

Recommended read: What Is a Current Accounts

The monthly maintenance fee at Bank of America can be a significant expense, with fees ranging from $4.95 to $25 per month, depending on the type of account you have.

You can avoid these fees by maintaining a minimum balance, making qualifying direct deposits, or being under a certain age. For example, Bank of America will waive the monthly maintenance fee for those under age 25 on the Bank of America SafeBalance Banking account.

Discover more: Periodontal Maintenance

Here are some specific monthly maintenance fees for Bank of America accounts:

It's worth noting that some accounts, like the Advantage Savings account, have a monthly maintenance fee of $8, while others, like the Advantage Relationship Banking account, have a waivable monthly fee of $5 to $35.

On a similar theme: Advantage plus Banking Bank of America

Some banks charge a monthly fee for debit card services, which can range from $2 to $10. This fee is often waived if you meet certain conditions, such as maintaining a minimum balance or setting up direct deposit.

These fees can add up quickly, especially if you have multiple debit cards. For example, if you have two debit cards with a $5 monthly fee each, that's $10 per month.

Some banks may also charge a fee for using your debit card for certain transactions, such as ATM withdrawals or international transactions.

For another approach, see: Wave Free Version Auto Bank Transactions

The Advantage Relationship Account is a great option if you're willing to meet certain requirements. This account has a monthly maintenance fee of $25, unless you maintain a minimum daily balance of at least $20,000 or are a Preferred Rewards member.

To avoid this fee, you'll need to meet one of these conditions. You can also earn interest on your account balance, which is a nice perk.

The Advantage Relationship Banking account requires a minimum opening deposit of $100, but this is a relatively low barrier to entry. You can also earn a $300 bonus offer with qualifying direct deposits of at least $2,000 within the first 90 days.

Here's a quick breakdown of the fees associated with the Advantage Relationship Banking account:

Keep in mind that you can link your eligible accounts to help you meet the balance requirement and avoid the monthly maintenance fee.

Bank of America's monthly maintenance fees are fees that the bank charges account holders to use their account, helping increase the bank's revenue.

These fees can be waived in some cases, often requiring customers to maintain a certain amount on deposit at the bank, make a certain number of debit card transactions, or set up a monthly direct deposit.

For another approach, see: E S a Payments

You can avoid Bank of America's monthly maintenance fees by maintaining minimum balances and making qualifying direct deposits. Some accounts will also waive fees based on your age.

The requirements for waiving fees vary from account to account, so make sure to check the specific requirements for your account type.

Here are some options to avoid Bank of America's monthly maintenance fees, including maintaining a minimum daily balance of at least $20,000 or being a Preferred Rewards member.

Some accounts, like the Advantage Relationship banking account, have a $25 monthly fee that can be waived by maintaining a minimum daily balance of at least $20,000 or being a Preferred Rewards member.

Bank of America's ATM fees can also be avoided by using Bank of America ATMs whenever possible, or by enrolling in the Preferred Rewards program, depending on your tier.

To summarize, maintaining minimum balances, making qualifying direct deposits, and being a Preferred Rewards member are all ways to avoid Bank of America's monthly maintenance fees.

On a similar theme: Avoid Overdraft Fees

Bank of America offers several checking account options, each with its own monthly maintenance fee.

The Advantage SafeBalance Banking account has a $4.95 monthly maintenance fee, while the Advantage Plus Banking account has a $12 monthly maintenance fee. The Advantage Relationship Banking account has a $25 monthly maintenance fee, but it's the only one that earns interest.

To avoid these fees, you can link your eligible accounts, such as Advantage Savings, to your Advantage Relationship Banking account. This can help you meet the balance requirement to waive the monthly maintenance fee.

Here's a quick look at the monthly maintenance fees for each of Bank of America's checking account options:

Linking your accounts with Bank of America can help you meet the balance requirement to avoid the monthly maintenance fee. This can be especially helpful if you have a lot of money tied up in other accounts.

To link your accounts, you'll need to link your eligible Bank of America Advantage Savings account to your Advantage Relationship Banking account. This can help you meet the balance requirement and avoid the monthly fee.

See what others are reading: Can You Link Credit Cards to Cash App

If you have a lot of money in other Bank of America accounts, linking them can be a great way to keep your money organized and easily accessible.

Here are the specific requirements for linking your accounts:

By linking your accounts, you can take advantage of the flexible banking solution offered by Bank of America Advantage Plus Banking. This includes Balance Connect for overdraft protection, access to checks, ATMs, and all the services you'd expect from a traditional bank.

The Advantage SafeBalance Banking option from Bank of America is a checking account that comes with a monthly maintenance fee of $4.95.

To avoid this fee, you can meet certain conditions, such as being under 25 years old, maintaining a minimum daily balance of $500 for the month, or being a member of the Preferred Rewards program.

If you're a student, you're in luck - the monthly maintenance fee is waived for those under 25 years old on the Bank of America SafeBalance Banking account.

Here's a quick rundown of the fees associated with the Advantage SafeBalance Banking account:

Many banks offer free checking accounts with no monthly maintenance fees, but some popular banks like Bank of America and Wells Fargo charge a fee of $12 and $10, respectively, for their basic checking accounts.

Bank of America's monthly maintenance fee can be waived for students and young adults under 25, which is a great perk for those in college or just starting out.

To avoid the fee, Bank of America requires customers to have a minimum daily balance of $1,500 or make a certain number of debit card transactions per month, which can be a challenge for those with limited funds.

Wells Fargo, on the other hand, offers a variety of checking accounts with different fee structures, including a "Everyday Checking" account that charges a $10 monthly fee, which can be waived with a minimum balance of $1,500.

Chase Bank's checking accounts also come with a monthly maintenance fee, but it can be waived with a minimum balance of $1,500 or by setting up direct deposit.

The monthly maintenance fee for Bank of America's checking accounts can be waived for customers who have a minimum balance of $3,500 or more, which is a higher threshold than some other banks.

A different take: Maintenance Required

Bank accounts with Bank of America come with various fees, including monthly maintenance fees.

The monthly maintenance fee for Bank of America checking accounts can range from $4.95 to $25, depending on the type of account you have.

You can have your monthly maintenance fee waived if you're under 25 and have a Bank of America SafeBalance Banking account, or if you meet certain balance requirements.

Advantage Relationship Banking earns interest, but it comes with a higher monthly maintenance fee of $25.

Here's a breakdown of the monthly maintenance fees for each of Bank of America's checking account options:

To avoid the monthly maintenance fee, you'll need to meet certain balance requirements, such as maintaining a $500 minimum daily balance in your Advantage Savings account.

Here are the minimum balances required to qualify for a fee waiver: