Bank of America Checking Account Fees

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Every fee, every waiver, and every strategy to stop paying more than you need to — verified from BofA’s official schedule, independent researchers, and federal disclosures. Free to use. Always honest.

💡 10 Key Things Everyone Should Know About Bank of America Checking Fees

Bank of America is one of the largest banks in the United States, with more than 3,800 branches and 16,000+ ATMs nationwide. It offers three personal checking accounts — each with its own monthly fee, waiver rules, and feature set. The good news: most fees are avoidable once you know the rules. The bad news: the rules are buried in fine print. This plain-English guide unpacks every fee, every waiver condition, and what changed most recently — so you can stop paying for things you shouldn’t have to.

1
What are Bank of America’s three checking account options and what do they each cost per month? SafeBalance costs $4.95/month, Advantage Plus costs $12/month, and Advantage Relationship costs $25/month — but all three have fee waiver options.
Bank of America offers three personal checking tiers as of February 2026. Advantage SafeBalance Banking charges $4.95 per month; it is the entry-level account with no paper checks. Advantage Plus Banking charges $12 per month and is the most popular standard account. Advantage Relationship Banking charges $25 per month and is the only interest-bearing checking option. Every account can have its monthly fee waived, but the requirements differ. See the full comparison in the Account Profiles section below.
2
What is the easiest way to avoid the $12 monthly fee on the Advantage Plus account? Set up a direct deposit of at least $250 per statement cycle — even a small part-time paycheck qualifies.
The Advantage Plus $12 monthly fee is waived if you do any one of the following each statement period: (1) Receive at least one qualifying direct deposit of $250 or more; (2) maintain a daily balance of $1,500 or more throughout the entire statement cycle; or (3) enroll in Preferred Rewards and qualify for the Gold tier or above (which requires $20,000 in combined balances). For most people, the $250 direct deposit route is by far the simplest. Even a part-time paycheck deposited electronically typically qualifies as a direct deposit under BofA’s rules.
3
What is Bank of America’s overdraft fee and how does it compare to other big banks? BofA charges $10 per overdraft (max 2 per day), which is significantly lower than Chase ($35) and Wells Fargo ($35) — a 71% reduction BofA made in 2022.
In 2022 Bank of America cut its overdraft fee from $35 to $10 — one of the most consumer-friendly moves among major traditional banks. The fee applies only to transactions over $1, and is capped at two fees per day, meaning the maximum daily overdraft charge is $20. BofA also eliminated non-sufficient funds (NSF) return fees entirely. If you choose the Decline All overdraft setting on your account, BofA will simply decline any transaction you don’t have the funds to cover, and no overdraft fee is charged at all. The free Balance Connect service can also protect you by automatically moving money from a linked account before an overdraft occurs.
4
Does Bank of America charge ATM fees, and how can I avoid them? Using a Bank of America ATM is always free. Out-of-network ATM withdrawals in the U.S. cost $2.50; international ATM withdrawals cost $5 plus a 3% transaction fee.
Bank of America operates more than 16,000 ATMs across the United States, so avoiding ATM fees is easier than at many banks. However, using any ATM outside the BofA network inside the U.S. triggers a $2.50 BofA surcharge on top of whatever fee the ATM operator charges. International ATM withdrawals cost $5 per transaction plus a 3% international transaction fee on the dollar amount. The BofA mobile app has an ATM locator built in — always check before withdrawing cash when traveling. Preferred Rewards members at the Platinum tier or above ($50,000+ in combined balances) receive ATM fee rebates.
5
What does a wire transfer cost at Bank of America and is there any way to get it free? Outgoing domestic wire transfers cost $30; outgoing international wires in U.S. dollars cost $45. Both are waived for Preferred Rewards Diamond tier members.
Wire transfer fees at BofA are among the higher costs to watch. Outgoing domestic wire transfers cost $30. Outgoing international wire transfers cost $45 when sent in U.S. dollars, with additional fees possible from the recipient’s bank and foreign taxes. Incoming wire transfers also carry a fee. The only way to have these fees waived is to be enrolled in the Preferred Rewards program at the Diamond tier (which requires $100,000+ in combined BofA and Merrill balances) or the Diamond Honors tier. For occasional domestic transfers, a free ACH transfer or Zelle payment is almost always a better alternative and takes only one to three business days.
6
What is the Preferred Rewards program and is it worth it for avoiding fees? Preferred Rewards tiers up from Gold ($20K balance) through Diamond Honors ($1M+) — it waives monthly fees, ATM charges, and wire fees as balances grow. On May 27, 2026, it becomes “BofA Rewards” and removes the $20K minimum for basic enrollment.
As of May 27, 2026, Bank of America is rebranding Preferred Rewards as BofA Rewards and removing the $20,000 minimum balance requirement to enroll. This means all personal checking account holders will be eligible to join at the baseline tier. However, the most meaningful fee waivers — such as waived wire transfer fees and ATM fee rebates — are still tied to higher tiers requiring $50,000 to $100,000 or more in combined balances. New benefits under BofA Rewards include cash-back deals from more than 15,000 brands and enhanced identity monitoring. Current Preferred Rewards members will be automatically enrolled in BofA Rewards when the transition takes effect.
7
Are there any fees that Bank of America cannot or will not waive regardless of account type? The $4.95 SafeBalance monthly fee cannot be waived for most customers over 25. Rush debit card replacement ($15), cashier’s checks ($15), and most wire transfer fees are also hard to waive without Preferred Rewards status.
Certain BofA fees are effectively non-negotiable unless you hold elite Preferred Rewards status. The $4.95 monthly fee on SafeBalance Banking cannot be waived for standard adult customers (the exception is customers under age 25 or those enrolled in qualifying Preferred Rewards tiers). Rush debit card replacement costs $15 — the standard free replacement takes 7 to 10 business days, so plan ahead. Cashier’s checks cost $15 per check, though this fee is waived for any Preferred Rewards tier member. Stop payment fees also apply unless waived by Preferred Rewards status. BofA does not publish any formal fee negotiation policy and does not guarantee waiving fees simply by calling customer service, though courtesy waivers do occur on a case-by-case basis.
8
What is Balance Connect and how does it protect me from overdraft fees for free? Balance Connect is Bank of America’s free overdraft protection service — it automatically moves money from a linked backup account to cover transactions before an overdraft occurs, with no transfer fee.
Balance Connect is one of the most useful free features BofA offers. You can link up to five backup accounts — savings accounts, another checking account, or even an eligible brokerage account — and if your primary checking balance is about to go negative, BofA automatically transfers enough to cover the transaction at no charge. There is no fee for the Balance Connect transfer itself (transfers from credit cards or lines of credit are treated as cash advances, which do accrue interest, so linking a savings or second checking account is the smart choice). Setting up Balance Connect takes under five minutes in the BofA mobile app or at any branch.
9
Can I get a Bank of America checking account if I have bad credit or a ChexSystems record? Yes — the Advantage SafeBalance Banking account requires no credit check and is specifically designed as a second-chance account for people rebuilding their banking history.
If you have been denied a bank account elsewhere due to a negative ChexSystems record, bankruptcy, or poor credit history, the Advantage SafeBalance Banking account is designed for exactly this situation. It requires no credit check, has a low $25 minimum opening deposit, and the $4.95 monthly fee is manageable. The trade-offs: no paper checks (transactions are debit card, Zelle, and online bill pay only), and the account is set to the Decline All overdraft setting by default, meaning transactions are declined rather than approved with a fee if funds are insufficient. For many people trying to rebuild banking history, this is actually a feature rather than a limitation — it makes overspending structurally impossible.
10
What savings account fees does Bank of America charge and how do I avoid them? The Advantage Savings account charges $8 per month. You avoid it by maintaining $500 daily balance, linking it to an Advantage checking account, being under 25, or enrolling in Preferred Rewards.
Bank of America’s primary savings product, the Advantage Savings account, carries an $8 monthly maintenance fee. It is waived if you (1) maintain a daily balance of at least $500, (2) link the savings account to an Advantage Regular, Advantage with Tiered Interest, or Advantage Relationship Banking checking account, (3) are under age 25 and enrolled in the appropriate account, or (4) hold any tier of Preferred Rewards. Note that BofA’s Advantage Savings account earns a very low interest rate — typically 0.01% APY — so if your goal is growing savings, an online high-yield savings account at a different institution may serve you significantly better. Use BofA savings for convenience and short-term needs; use a higher-yield account elsewhere for long-term savings goals.

Sources: Bank of America Personal Schedule of Fees effective February 20 2026 (bankofamerica.com/salesservices/deposits/resources/personal-schedule-fees/); Bankrate.com Bank of America checking account review updated March 2026 ($4.95/$12/$25 monthly fees; $250 direct deposit waiver; $1,500/$20,000 balance waivers; BofA Rewards transition May 27 2026; ATM fees $2.50 domestic/$5 international; 3% international transaction fee); GoBankingRates.com Bank of America monthly maintenance fees updated Feb 25 2026; Wealthvieu.com Bank of America Fees 2026 updated April 2026 (overdraft $10; NSF eliminated; overdraft cut 71% from $35; 16,000+ ATMs; Balance Connect free; wire $45 outgoing international); FinanceBuzz.com Best BofA Checking Accounts 2026 (SafeBalance $25 opening; Plus $100 opening; no credit check SafeBalance)

🏆 The 3 Bank of America Checking Accounts — Full Fee Breakdown

⚠️ Fees and Waiver Rules Are Subject to Change — Always Verify Before Opening

All fees, balances, and waiver conditions below are sourced from Bank of America’s official Personal Schedule of Fees (effective February 20, 2026) and verified by independent financial researchers as of April 2026. Bank of America may update its fee schedule at any time. Always confirm current fees at bankofamerica.com or by calling 1-800-432-1000 before opening or switching accounts.

Best for Rebuilding Banking History

Advantage SafeBalance Banking®

🏛️ No-Overdraft, No-Check Account · FDIC Insured · No Credit Check Required

💰 Monthly fee: $4.95

📥 Minimum opening deposit: $25

✅ No paper checks issued

✅ Debit card + Zelle + Bill Pay

✅ No overdraft fees (declines instead)

✅ No credit check required

✅ Fee waived: under age 25

⚠️ $4.95 fee NOT waivable for most adults

The SafeBalance account is Bank of America’s entry-level and second-chance checking option. Its defining feature is that it simply will not allow overdrafts — if your balance cannot cover a transaction, the transaction is declined. This makes it structurally impossible to incur an overdraft fee. It also requires no credit check to open, making it accessible to customers who have been denied accounts elsewhere due to a ChexSystems record or past banking issues. The $25 minimum opening deposit is one of the lowest among major banks. The main limitation: no paper checks are issued. All payments must go through debit card, Zelle, or online bill pay. For most everyday banking needs, this is rarely a problem, but if you regularly pay landlords, contractors, or utilities by check, this account is not the right fit.

💡 Fee Waiver Options: Under age 25 · Preferred Rewards enrollment (qualifying tier)

$4.95/Month No Overdraft Fees No Credit Check $25 Opening Deposit No Paper Checks

Most Popular Standard Account

Advantage Plus Banking®

🏛️ Full-Feature Checking · Paper Checks Included · Easiest Fee Waiver

💰 Monthly fee: $12.00

📥 Minimum opening deposit: $100

✅ Paper checks included

✅ Debit card, Zelle, Bill Pay

⚠️ Overdraft fee: $10 (max 2/day)

✅ Balance Connect overdraft protection: Free

✅ Waive fee: $250+ direct deposit

✅ Waive fee: $1,500 daily balance

Advantage Plus is the account most Bank of America customers use and the one that makes the most sense for the average household. It includes paper checks, full debit card access, Zelle, and online bill pay. The $12 monthly fee is easily waived with a qualifying direct deposit of just $250 or more per statement period — a threshold so low that even a single part-time paycheck typically qualifies. The other waiver routes (maintaining a $1,500 daily balance throughout the entire cycle) are harder to hit consistently. Overdraft protection is available free through Balance Connect — link your savings or another account and overdrafts transfer automatically at no charge. If you don’t enroll in Balance Connect, overdrafts cost $10 each, capped at two per day ($20 maximum daily). You can also choose the Decline All setting to avoid overdraft fees entirely.

💡 Fee Waiver: $250+ qualifying direct deposit per cycle · OR $1,500 minimum daily balance · OR Preferred Rewards Gold+ tier

$12/Month $250 Direct Deposit Waiver Paper Checks Balance Connect Free $10 Overdraft Fee

Best for Higher-Balance Customers

Advantage Relationship Banking®

🏛️ Interest-Bearing Checking · Premium Perks · $20,000 Balance Requirement for Fee Waiver

💰 Monthly fee: $25.00

📥 Minimum opening deposit: $100

✅ Only interest-bearing BofA checking

✅ Paper checks + all payment options

⚠️ Overdraft fee: $10 (max 2/day)

✅ Free cashier’s checks (Preferred Rewards)

✅ Links up to 3 extra checking + 4 savings free

⚠️ Waive fee: $20,000 combined balance required

Advantage Relationship Banking is the premium checking tier and the only BofA checking account that earns interest on your balance. However, the interest rate is typically very low (often 0.01% APY), so the interest earnings alone do not justify holding $20,000 in a checking account when that money could earn significantly more elsewhere. The real appeal is the relationship perks: linking up to three additional Advantage Relationship or Tiered Interest checking accounts and four savings accounts, all with no additional monthly fees. Cashier’s check fees ($15 normally) are waived for any Preferred Rewards tier member who has this account. On May 27, 2026, the $25 monthly fee waiver will require enrollment in BofA Rewards at the Preferred Plus tier or higher rather than simply holding $20,000 in combined balances — verify this change at bankofamerica.com if you hold this account.

💡 Fee Waiver: $20,000 combined balance across linked accounts · OR BofA Rewards Preferred Plus+ enrollment (effective May 27, 2026)

$25/Month Interest-Bearing $20K Balance Waiver 4 Free Linked Savings BofA Rewards Change May 2026

Sources: Bank of America Personal Schedule of Fees effective February 20 2026 (all monthly fees, opening deposits, waiver conditions, overdraft rules, linked account limits); BankofAmerica.com Advantage Plus product page (information current as of 02/2026); BankofAmerica.com Advantage Relationship product page (information current as of 02/2026); Bankrate.com updated March 2026 (BofA Rewards transition May 27 2026; Preferred Plus tier requirement; interest-bearing only on Relationship); FinanceBuzz.com March 2026 (SafeBalance no credit check; no paper checks policy; $25/$100 opening deposits confirmed)

📊 Key Fee Numbers at a Glance

📉 Overdraft Fee Cut

$35 → $10

BofA reduced its overdraft fee 71% in 2022 — from $35 to $10 per transaction. Maximum of 2 fees per day ($20 total). NSF return fees were eliminated entirely. Among major traditional banks, this is the most consumer-friendly overdraft structure.

⚠️ Wire Transfer Cost

$45 outgoing

Outgoing international wire transfers in U.S. dollars cost $45. Outgoing domestic wires cost $30. Incoming wires also carry a fee. Free alternatives: Zelle (same day, free for most amounts) and ACH transfers (1–3 business days, free).

✅ Minimum for Fee Waiver

$250/month

The easiest way to waive the $12 Advantage Plus monthly fee is a single qualifying direct deposit of $250 or more per statement cycle. This threshold is lower than most major bank competitors and is typically met by any regular paycheck or recurring government payment deposited electronically.

🏧 Free ATMs Nationwide

16,000+

Bank of America operates more than 16,000 ATMs across the U.S. Using any BofA ATM is always free. Out-of-network domestic ATM withdrawals cost $2.50 per transaction plus any fee charged by the ATM operator. International ATM withdrawals cost $5 plus a 3% transaction fee.

🚨 Four Fees That Catch Bank of America Customers Off Guard

The $12 monthly fee that resets every statement cycle. Meeting the $250 direct deposit requirement in one month does not carry over — you must meet the waiver condition every single statement period. If your employer switches pay schedules or delays a deposit, you could get hit with a fee unexpectedly. Set up a low-balance alert in the BofA app so you can transfer funds manually if a deposit is running late.
The $2.50 out-of-network ATM fee stacks on top of the ATM operator’s own fee. If you use a non-BofA ATM, you could pay BofA’s $2.50 plus the other ATM’s own surcharge (often $2.50–$3.50), totaling $5–$6 for a single cash withdrawal. Always locate a BofA ATM in the app before withdrawing cash when away from home.
The $15 rush debit card replacement fee. If your card is lost or stolen and you need it immediately, BofA charges $15 for rush delivery. The standard replacement is free but takes 7–10 business days. Plan ahead when traveling — if your card is declined abroad, you may face this fee or be without a card for over a week.
The $25 monthly fee on Advantage Relationship is changing in May 2026. Currently, holding $20,000 in combined linked BofA accounts waives this fee. Starting May 27, 2026, waiving the fee will require enrollment in BofA Rewards at the Preferred Plus tier or above. If you rely on the balance waiver, contact BofA now to confirm how this transition affects your account before it takes effect.

Sources: Wealthvieu.com Bank of America Fees 2026 (April 2026 — overdraft $10 max 2/day; wire $30 domestic/$45 international; ATM $2.50 out-of-network; rush card $15); Bankrate.com March 2026 (BofA Rewards transition May 27 2026; Preferred Plus tier replaces $20K waiver); GoBankingRates Bank of America overdraft policy 2026 ($10 per transaction; max $20/day)

📋 Complete Bank of America Fee Table — All Accounts

Fees below are for personal checking accounts, verified from Bank of America’s Personal Schedule of Fees effective February 20, 2026. Fees may vary by account type and may be waived under qualifying conditions. Verify all fees at bankofamerica.com before making decisions.

Fee Type	Amount	How to Avoid It
SafeBalance monthly fee	$4.95/mo	Under 25 · Preferred Rewards
Advantage Plus monthly fee	$12.00/mo	$250 direct deposit · $1,500 balance · Preferred Rewards Gold+
Advantage Relationship monthly fee	$25.00/mo	$20,000 combined balance · BofA Rewards Preferred Plus+ (from May 2026)
Advantage Savings monthly fee	$8.00/mo	$500 daily balance · Link to checking · Under 25 · Preferred Rewards
Overdraft item fee	$10 (max 2/day)	Balance Connect free transfers · Decline All setting · Maintain sufficient balance
NSF / returned item fee	$0	Eliminated permanently by BofA in 2022
Out-of-network ATM (U.S.)	$2.50 + operator fee	Use BofA’s 16,000+ ATMs · Platinum+ Preferred Rewards
International ATM withdrawal	$5 + 3% transaction fee	Use BofA partner ATMs abroad · Preferred Rewards higher tiers
Outgoing domestic wire transfer	$30	Use Zelle or free ACH instead · Diamond+ Preferred Rewards
Outgoing international wire (USD)	$45	Diamond Preferred Rewards (limited waivers)
Cashier’s check	$15	Any Preferred Rewards tier
Rush debit card replacement	$15	Fraud cases · Preferred Rewards members
Stop payment fee	Varies	Preferred Rewards members · Free for debit card/Bill Pay stops
Paper statement fee	$0	Always free upon request
Balance Connect overdraft transfer	$0	Always free from linked deposit accounts

Sources: Bank of America Personal Schedule of Fees effective February 20 2026; Bankrate.com March 2026; Wealthvieu.com April 2026; GoBankingRates.com February 25 2026. NSF elimination confirmed via BofA fee schedule 2022–2026. All overdraft, ATM, and wire fees sourced directly from BofA official documentation.

❓ Bank of America Checking Fee Questions Answered Plainly

💡 I Just Got Charged the $12 Monthly Fee. Can I Call and Get It Waived?

Bank of America does not publish any formal policy for courtesy fee waivers, and the company’s official position is that it does not guarantee reversals simply upon request. That said, many customers report success calling 1-800-432-1000 and politely asking for a one-time reversal, especially if it’s the first time they’ve been charged or if the fee resulted from a circumstance like a delayed payroll deposit. The more important step is to ensure it doesn’t happen again: enroll your payroll or Social Security direct deposit of $250 or more, or set up a low-balance alert so you can move money into the account before the end of the statement cycle. Calling to reverse a fee is a once-in-a-while solution, not a long-term strategy.

💡 What Counts as a “Qualifying Direct Deposit” to Waive the $12 Fee?

This is one of the most common points of confusion. Bank of America defines a qualifying direct deposit as an electronic transfer from an employer, payroll processor, pension, or government benefit program such as Social Security, unemployment benefits, or veterans benefits. Transfers you initiate yourself — such as moving money from another bank account, depositing cash, or using Zelle to send yourself money — do NOT count as qualifying direct deposits for fee waiver purposes. The payment must originate from a third party (your employer or a government agency) and be sent electronically to your BofA account. If you are unsure whether a payment will qualify, call BofA at 1-800-432-1000 before the end of your statement cycle.

💡 I’m a Senior on Social Security. Which Bank of America Account Makes the Most Sense for Me?

If your Social Security payment is deposited directly into your Bank of America account electronically each month, that deposit almost certainly qualifies as a direct deposit for the Advantage Plus account, waiving the $12 monthly fee — even if it is less than $250 in some months, as most Social Security payments exceed this amount. This makes Advantage Plus the most practical choice: you get paper checks, full debit card access, and Zelle, all with no monthly fee. If your monthly Social Security payment is below $250 for any reason, the $4.95 SafeBalance account is the lower-cost fallback. In either case, enroll in Balance Connect by linking your savings account to your checking account — this protects you from any unexpected overdraft without any fee.

💡 Does Bank of America Charge Fees for Zelle Transfers or Online Bill Pay?

No — Zelle transfers and online bill payments through Bank of America’s Bill Pay system are completely free for all personal checking account holders. There is no fee to send or receive Zelle payments, and there is no fee for scheduling bill payments online. These free digital payment options make wire transfers and cashier’s checks unnecessary for most everyday payment situations. The important exception: if you need to wire a large amount internationally or guarantee same-day delivery to a new payee, a wire transfer may still be required, but for the vast majority of bill payments and person-to-person transfers, Zelle and Bill Pay accomplish the same goal at zero cost.

💡 What Happens If I Close My Bank of America Account — Are There Any Closing Fees?

Bank of America does not charge a fee to close a personal checking or savings account. To close your account, zero out the balance (either by withdrawing all funds or transferring them to another institution), then call 1-800-432-1000 or visit any BofA financial center and request account closure. Download or save any statements you need before closing, as access to historical statements through online banking ends when the account closes. If you have any outstanding checks, automatic payments, or pending transactions, wait for those to clear first — attempting to close an account with pending items can complicate the process. There is no inactivity fee on BofA personal accounts as long as you continue meeting any waiver requirements or paying the monthly maintenance fee.

💡 Should I Switch from Bank of America to an Online Bank to Save on Fees?

For customers who cannot reliably meet the $250 direct deposit waiver on the Advantage Plus account, switching to a fee-free online bank is worth serious consideration. Online banks such as Ally, Marcus, SoFi, and others offer no-fee checking accounts with competitive or high-yield savings rates. The trade-offs: no physical branches for cash deposits or in-person help, and no access to BofA’s 3,800+ branches when you need them. If you regularly deposit cash, use cashier’s checks, or need in-person banking help, BofA’s branch network has real value. If you do most banking digitally and your primary concern is avoiding monthly fees, an online bank that charges zero fees and pays a higher interest rate on savings may save you $144 or more per year (12 months × $12) plus earn significantly more interest. There is no rule against maintaining both — a free online account for savings and everyday spending alongside a BofA account for branch access is a strategy many people use successfully.

Sources: Bank of America official FAQ pages (bankofamerica.com/deposits/account-rates-fees-faqs/); BankofAmerica.com Personal Schedule of Fees February 20 2026 (qualifying direct deposit definition; no closing fee policy; Zelle and Bill Pay fee-free confirmed); Wealthvieu.com April 2026 (online bank comparison; Balance Connect setup); GoBankingRates.com February 2026 (Social Security as qualifying direct deposit; fee waiver call strategy; one-time reversal); Bankrate.com March 2026 (Zelle free; Bill Pay free; no inactivity fees personal accounts)

✅ Five Steps to Stop Paying Unnecessary Bank of America Fees Right Now

Step 1: Set up direct deposit of $250 or more to the Advantage Plus account. This single action eliminates the $12 monthly fee permanently as long as you receive at least one qualifying deposit per statement cycle. Call your HR department, log into your payroll system, or visit a BofA branch to redirect even part of your paycheck — the process takes less than 10 minutes.
Step 2: Enroll in Balance Connect for free overdraft protection. Link your BofA savings account (or any second BofA deposit account) to your checking account. Log into the BofA mobile app, go to Account Services, and select “Overdraft Settings” to set up Balance Connect. It takes about five minutes and saves $10 every time you would have otherwise overdrafted.
Step 3: Turn on the BofA mobile app’s low-balance alert. Set an alert to notify you when your checking balance drops below $300 or $500 (whatever your comfort level is). This early warning gives you time to transfer funds before a transaction causes an overdraft or before the end of a statement cycle threatens a fee waiver condition.
Step 4: Only use BofA ATMs — and locate them before you need cash. The BofA app has an ATM finder built in. Before you travel or run errands in an unfamiliar area, take 30 seconds to locate the nearest free BofA ATM. Every out-of-network withdrawal costs $2.50 plus the operator’s fee — even one or two per month adds up to $60–$120 per year.
Step 5: Use Zelle or Bill Pay instead of cashier’s checks and wire transfers. For the vast majority of payments — paying a contractor, sending money to family, paying a bill — Zelle (free, often instant) or BofA’s online Bill Pay (free, 1–2 business days) accomplish the same goal as a cashier’s check ($15) or wire transfer ($30–$45). Reserve cashier’s checks and wires for situations that legally require them, such as real estate closings.

🚨 Important Change Coming: BofA Rewards Replaces Preferred Rewards on May 27, 2026

Bank of America is rebranding its Preferred Rewards program as BofA Rewards effective May 27, 2026. The key change: the $20,000 minimum balance requirement to enroll is being eliminated, meaning all personal checking account holders will be eligible to join at the basic level. However, the monthly fee waiver on the Advantage Relationship account ($25/month) will no longer be triggered simply by holding $20,000 in combined balances — it will require enrollment in BofA Rewards at the Preferred Plus tier or higher. If you currently hold an Advantage Relationship Banking account and rely on the balance waiver, contact Bank of America at 1-800-432-1000 or visit bankofamerica.com to confirm how the May 2026 transition affects your specific account before it takes effect.

© BudgetSeniors.com — This guide is independently researched and written. We are not affiliated with, compensated by, or endorsed by Bank of America or any other financial institution. All fees, rates, and account terms are verified from Bank of America’s official published sources as of April 2026. Bank fees and account terms change frequently — always confirm current requirements directly at bankofamerica.com or by calling 1-800-432-1000 before making account decisions. This is not financial advice. For personalized guidance, consult a licensed financial advisor. Bank of America Customer Service: 1-800-432-1000 · Fraud: 1-800-432-1000 option 2 · TDD/TTY: 1-800-288-4408 · bankofamerica.com

Primary sources: Bank of America Personal Schedule of Fees effective February 20 2026 (bankofamerica.com/salesservices/deposits/resources/personal-schedule-fees/ — all monthly fees, waiver conditions, overdraft rules, ATM fees, wire fees, cashier’s check fees, stop payment fees, Balance Connect terms); Bank of America Advantage Plus product disclosure February 2026; Bank of America Advantage Relationship product disclosure February 2026; Bankrate.com Bank of America Checking Accounts review updated March 2026 (BofA Rewards transition May 27 2026; Preferred Plus tier; ATM fee schedule; NSF elimination; overdraft $10); GoBankingRates.com Bank of America Monthly Maintenance Fees updated February 25 2026 (all three account fee schedules confirmed); GoBankingRates.com Bank of America Overdraft Fees 2026 (3 weeks ago — $10 per transaction; max 2/day; Balance Connect setup); Wealthvieu.com Bank of America Fees 2026 complete schedule updated April 2026 (wire $30/$45; ATM $2.50 domestic; overdraft cut 71% from $35; 16,000+ ATMs; Zelle/Bill Pay free); FinanceBuzz.com Best Bank of America Checking Accounts March 2026 (SafeBalance no credit check; $25/$100 opening deposits; direct deposit $250 threshold lowest among major banks)

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