The main ways Bank of America charges checking account fees

Bank of America charges fees on checking accounts in three situations: a monthly maintenance fee if your balance falls below a threshold, overdraft fees when you spend more than you have, and out-of-network ATM fees if you withdraw cash from another bank's machine. The monthly maintenance fee is $12 on most checking accounts, but it disappears if you keep a minimum balance or set up direct deposit. Overdraft fees run $35 per transaction, and the bank can charge multiple fees in a single day. Out-of-network ATM fees are $2.50 per withdrawal.

The easiest fees to avoid are the monthly ones—they have clear thresholds you control. Overdraft and ATM fees require more attention because they happen during transactions, not at month-end. Understanding which fee applies to your account type and your habits is the first step to stopping them.

Key Takeaways

  • The $12 monthly maintenance fee on most Bank of America checking accounts vanishes if you maintain a $500 minimum balance or receive at least one direct deposit per month.
  • Overdraft fees of $35 per transaction can be prevented by turning off overdraft protection or by keeping a buffer in your account above zero.
  • Out-of-network ATM fees of $2.50 per withdrawal are avoided by using Bank of America's ATM network or a partner bank's ATM if you have a premium account.
  • Bank of America's SafeBalance account has no monthly fee and no overdraft fees, making it a lower-cost option if you cannot meet the minimum balance on standard accounts.
  • Setting up account alerts for low balances gives you time to move money before a transaction triggers an overdraft fee.

Waive the monthly maintenance fee with direct deposit or a minimum balance

Bank of America waives the $12 monthly maintenance fee on its Advantage Checking and Advantage Plus Checking accounts if you meet one of two conditions: keep a $500 minimum balance in the account at all times, or receive at least one direct deposit per month. Direct deposit is the easier path for most people because it requires no ongoing balance management—your paycheck or benefit payment arrives automatically and the fee disappears.

If you do not receive direct deposits, the $500 minimum is straightforward but demands discipline. The balance is measured daily, and if it dips below $500 even once during the month, the fee applies. Many people find it easier to set up a small automatic transfer from savings on the first of each month to ensure the balance never falls below the threshold. Bank of America also offers a SafeBalance account with no monthly fee and no minimum balance requirement, though it comes with other restrictions like a limit on debit card transactions.

Turn off overdraft protection to stop overdraft fees

Overdraft protection is a Bank of America feature that covers transactions when your balance is negative, but it charges $35 per overdraft. The fee applies even if you overdraft by $1. Many people think overdraft protection saves them from embarrassment, but it actually costs them money—the bank covers the transaction and then charges you for doing so.

You can turn off overdraft protection in your Bank of America online account or mobile app under account settings. Once it is off, transactions that would overdraft your account are simply declined at the point of sale. You will not be able to spend money you do not have, but you also will not pay $35 for the attempt. This is the most direct way to eliminate overdraft fees entirely. If you are worried about a transaction being declined in an emergency, keep a small buffer—even $50—in your account to cover unexpected expenses.

Use Bank of America ATMs to avoid the $2.50 out-of-network fee

Bank of America charges $2.50 every time you withdraw cash from an ATM that is not owned by Bank of America or a partner network. If you withdraw cash twice a week from another bank's ATM, that is $20 per month in fees alone. The solution is to use Bank of America's own ATM network, which is one of the largest in the country, or to plan your cash withdrawals around locations where you know a Bank of America ATM exists.

If you have a Bank of America Preferred Rewards account (which requires a higher balance or investment relationship), you get access to a larger network of partner ATMs at no charge, including Allpoint ATMs in retail locations. For most people, though, the free option is to locate Bank of America ATMs before you need cash. The bank's mobile app and website both have ATM locators that show you the nearest machines. If you rarely withdraw cash, the occasional $2.50 fee may not matter, but if you use ATMs regularly, this fee adds up fast.

Set up balance alerts to catch problems before they become fees

Bank of America allows you to set up alerts that notify you by text, email, or app notification when your balance falls below a number you choose. If you set an alert for $100, you will get a message the moment your balance drops below that point. This gives you time to transfer money from savings or delay a planned purchase before a transaction overdrafts your account.

Alerts are free and take two minutes to set up in the mobile app or online account. Most people set alerts at $200 or $300, which gives them a safety margin. The alert does not prevent fees—only your own action does—but it turns an invisible problem into a visible one. Combined with turning off overdraft protection, alerts make overdraft fees nearly impossible to incur by accident.

Compare Bank of America accounts to find the lowest-fee option for your situation

Bank of America offers several checking account types, and the right one depends on how you use your account. The Advantage Checking account charges $12 per month but waives the fee with direct deposit or a $500 balance. The Advantage Plus Checking account also charges $12 but is designed for people who want overdraft protection and higher daily transaction limits. The SafeBalance account charges no monthly fee, has no overdraft fees, and has no minimum balance, but it limits you to 4 debit card transactions per month and 6 ATM withdrawals per month.

If you receive regular paychecks by direct deposit, Advantage Checking is the standard choice and the fee disappears. If you do not receive direct deposits and cannot maintain a $500 balance, SafeBalance may cost less overall despite its transaction limits. If you travel frequently or make many cash withdrawals, a Preferred Rewards account (which requires a higher relationship with the bank) may offer enough ATM fee waivers to justify the higher balance requirement. Spend five minutes comparing your own habits to each account type—the difference can be $100 or more per year.

Move money before a large purchase to avoid overdrafts

Overdraft fees often happen when a large transaction—a car repair, medical bill, or online purchase—hits your account when the balance is low. Even if you think you have enough money, timing can work against you. A deposit may not have cleared yet, or multiple small transactions may have posted overnight, leaving your balance lower than you expected.

The safest habit is to check your available balance (not just your current balance) before making any purchase over $100. Available balance accounts for pending transactions and deposits that have not yet posted. If your available balance is close to the purchase amount, move money from savings into checking first. This takes 30 seconds and costs nothing. It is a small step that prevents a $35 fee and the stress of an overdraft.

Frequently Asked Questions

Does Bank of America charge a fee to close a checking account?

No, Bank of America does not charge a fee to close a checking account. You can close the account online, by phone, or in person at a branch. If you have an outstanding balance or pending transactions, the bank will resolve those before closing the account.

Can I get overdraft fees refunded if I call the bank?

Bank of America may refund one or two overdraft fees if you call and ask, especially if you have been a customer for a long time or if the overdraft was caused by a bank error. There is no may provide, but it costs nothing to ask. Call the customer service number on the back of your debit card and explain the situation.

What is the difference between overdraft protection and overdraft fees?

Overdraft protection is a service that covers transactions when your balance is negative. Bank of America charges $35 for each transaction it covers. You can turn off overdraft protection so transactions are declined instead, which stops the fees but also prevents you from spending money you do not have.

Do I pay the out-of-network ATM fee if I use a credit card to withdraw cash?

No, the $2.50 out-of-network fee applies only to debit card ATM withdrawals from non-Bank of America machines. If you use a credit card to withdraw cash, you will pay a cash advance fee instead, which is usually higher. Avoid cash advances on credit cards whenever possible.

If I have direct deposit, do I still need to maintain the $500 minimum balance?

No. Direct deposit alone waives the $12 monthly maintenance fee on Advantage Checking. You do not need to maintain any minimum balance if you have at least one direct deposit per month. The $500 minimum is an alternative way to waive the fee if you do not have direct deposit.