Bank of America charges a monthly maintenance fee on most checking and savings accounts, typically $12 per month, though the fee can be waived if you meet certain balance or deposit requirements

Bank of America's monthly maintenance fee is a charge the bank deducts from your account each month simply for holding that account open. The standard fee is $12 on most checking accounts, though some savings accounts carry a $4 or $5 monthly fee. The fee posts automatically on a set day each month — usually the same date your account opened.

You do not have to pay this fee if you meet one of Bank of America's waiver conditions. The most common way to avoid it is to keep a minimum balance in the account. For a checking account, that is usually $1,500 in combined balances across linked accounts, or $500 if you are 18 to 24 years old. For savings accounts, the threshold is typically $300. If your balance drops below the requirement even once during the month, the fee will post.

Other ways to waive the fee include setting up direct deposit of your paycheck, maintaining a linked Bank of America credit card account in good standing, or being a student with a verified .edu email address. Each account type has different waiver options, and they change occasionally.

Key Takeaways

  • Bank of America's standard monthly maintenance fee is $12 for checking accounts and $4 to $5 for most savings accounts.
  • The fee posts automatically each month and can be waived by keeping a minimum balance, setting up direct deposit, or meeting other specific requirements.
  • The minimum balance threshold varies by account type: $1,500 combined for most checking accounts, $300 for savings accounts.
  • If your balance falls below the requirement even once during the month, you will owe the full monthly fee.

How the fee posts to your account

The monthly maintenance fee appears as a single line item on your statement, usually labeled "Monthly Maintenance Fee" or "Service Charge." It posts on the same calendar day each month — the day your account was opened. If that day falls on a weekend or holiday, it typically posts on the next business day.

The fee is deducted directly from your available balance. If your account balance is very low when the fee posts, it can push you into overdraft, which then triggers overdraft fees on top of the maintenance fee. This is one reason why people with low balances often end up paying multiple fees in a single month.

You can see the exact date the fee will post by logging into your Bank of America account online or calling customer service. The fee will appear in your transaction history and on your monthly statement.

Which accounts charge maintenance fees and which do not

Not all Bank of America accounts carry a monthly maintenance fee. The bank offers a few account types that have no monthly charge at all, though they come with trade-offs.

Checking accounts with fees: The standard Checking account charges $12 per month. The Premium Rewards Checking account also charges $12 per month but offers cash back on debit card purchases. The Advantage Plus Checking account charges $12 per month and is designed for frequent account holders.

Checking accounts without fees: Bank of America's eChecking account has no monthly maintenance fee, but it does not come with a debit card and limits you to six withdrawals per month. The SafePass Checking account (for customers 18 to 24) has no fee if you meet the waiver requirements, which are lower than standard accounts.

Savings accounts: Most Bank of America savings accounts charge $4 or $5 per month. The Online Savings account has no monthly fee but offers lower interest rates and fewer in-branch services. Money Market accounts typically charge $12 per month.

What counts toward waiving the fee

Bank of America offers multiple paths to waive the monthly maintenance fee, and you only need to meet one of them. The most straightforward is maintaining the minimum balance, but direct deposit and credit card requirements are also common.

Minimum balance: For most checking accounts, you need $1,500 in combined balances across all your linked Bank of America accounts. This means if you have a checking account and a savings account linked together, the total across both must stay at or above $1,500. For customers 18 to 24, the threshold is $500. For savings accounts, the typical minimum is $300.

Direct deposit: If you set up direct deposit of your paycheck or other regular income, the fee is waived regardless of your balance. You must have at least one direct deposit per month for the waiver to apply. If you miss a month, the fee will post the following month.

Credit card or linked accounts: Maintaining a Bank of America credit card account in good standing can waive the checking account fee. Some premium checking accounts also waive the fee if you maintain a linked savings account with a certain balance.

Age-based waivers: Students under 25 with a verified .edu email address may may have access to for reduced minimums or fee waivers. Military members and certain other groups may also have special rates.

What happens if you do not meet the waiver requirements

If your balance falls below the minimum even once during the month, or if you miss a direct deposit requirement, the full monthly maintenance fee will post on your statement date. There is no partial fee — you pay the entire amount or nothing.

Once the fee posts, you cannot undo it by raising your balance back up. The fee is permanent for that month. However, you can call Bank of America customer service and ask them to reverse the fee as a one-time courtesy, especially if you have been a customer for a long time or if it was your first time falling short. They do not have to reverse it, but many customers report success with this approach.

If you repeatedly fail to meet the waiver requirements and do not want to pay the fee, your best option is to switch to an account type with no monthly charge, such as the eChecking account. You can also move your money to a different bank entirely — many online banks and credit unions offer checking accounts with no monthly maintenance fees and no minimum balance requirements.

How to avoid or reduce monthly maintenance fees

The simplest way to avoid the fee is to set up direct deposit if your employer or income source offers it. Once direct deposit is active, the fee is waived automatically each month with no additional action required. This is the most reliable method because it does not depend on maintaining a balance.

If direct deposit is not an option, keeping the minimum balance is the next most reliable approach. Set up a recurring transfer from another account to your Bank of America account on a specific day each month, just to ensure your balance never dips below the threshold. This takes only a few minutes to set up and runs automatically.

If you cannot maintain the minimum balance and do not have direct deposit, consider switching to the eChecking account, which has no monthly fee. You lose the debit card and have withdrawal limits, but you also lose the fee entirely. For some people, this trade-off makes sense.

You can also ask Bank of America about fee waivers when you open the account. Some branches or customer service representatives have discretion to waive the first month or two as a courtesy to new customers.

Frequently Asked Questions

Can Bank of America reverse a monthly maintenance fee I already paid?

Yes, you can call customer service and ask for a one-time reversal, especially if you have been a long-term customer or if it was your first time missing the waiver requirement. Bank of America does not have to reverse it, but many customers report success. If you have paid the fee multiple times, they are less likely to reverse it without a strong reason.

Does the minimum balance have to stay in checking, or can it be in savings?

The minimum balance can be split across linked accounts. If you have a checking account and a savings account linked together at Bank of America, the combined total across both accounts must meet the threshold. However, check your specific account terms, as some account types require the balance to be in the checking account itself.

What if I have direct deposit but my balance still falls below the minimum?

Direct deposit alone waives the fee, regardless of your balance. You do not need to maintain a minimum balance if you have at least one direct deposit per month. However, if you miss a month without a direct deposit, the fee will post the following month.

Do I get charged the maintenance fee on the day I open the account?

No. The first monthly maintenance fee posts one month after your account opening date. If you open an account on the 15th, the first fee posts on the 15th of the following month. This gives you time to set up direct deposit or build your balance before the first charge.

Is there a way to get the maintenance fee waived permanently?

No, but you can waive it every month by meeting one of the waiver requirements. The most reliable permanent solution is setting up direct deposit, which waives the fee automatically each month as long as you receive at least one deposit per month. If you want to avoid the fee entirely without conditions, switch to an account with no monthly charge.