The right account depends on how you bank and what you're willing to pay

Bank of America offers three main checking accounts: Advantage SafePass, Advantage Plus, and Advantage Relationship Banking. Each one has a different monthly fee, minimum balance requirement, and set of perks. The "best" account is the one that matches how you actually use your money—not the one with the longest feature list.

The core difference is the monthly maintenance fee and what waives it. Advantage SafePass costs $4.95 per month but waives the fee if you use your debit card at least 10 times monthly. Advantage Plus costs $12 per month and waives the fee if you keep a $1,500 minimum balance or set up a direct deposit. Advantage Relationship Banking costs $20 per month and waives the fee if you maintain a $10,000 minimum balance or have a linked Bank of America savings account with $10,000 in it.

If you don't meet the waiver conditions, you pay the full fee every month. That adds up: $4.95 × 12 = $59.40 per year for SafePass; $144 per year for Advantage Plus; $240 per year for Relationship Banking. The account that costs you nothing is the one you'll actually use the way it's designed.

Key Takeaways

  • Advantage SafePass waives its $4.95 monthly fee if you swipe your debit card 10 times per month, making it the cheapest option for people who pay for small purchases with their card.
  • Advantage Plus waives its $12 monthly fee with either a $1,500 minimum balance or a direct deposit, and works best if you already receive paychecks or regular transfers into the account.
  • Advantage Relationship Banking costs $20 per month and waives the fee only if you keep $10,000 in the checking account itself or $10,000 in a linked savings account, making it useful mainly for people with substantial savings.
  • All three accounts include the same core features: debit card, online banking, mobile app, and ATM access; the difference is the fee structure and what triggers a waiver.
  • If you cannot meet any account's waiver condition, you will pay the monthly fee regardless of how little you use the account, so choose based on which waiver you can actually hit.

Advantage SafePass: Best if you use your debit card constantly

Advantage SafePass charges $4.95 per month, but the fee disappears if you make 10 or more debit card transactions in a calendar month. This includes any purchase—a coffee, gas, groceries, a subscription payment—as long as you swipe or tap your card at a merchant.

The math works in your favor if you already spend money regularly. Ten transactions spread across a month is roughly two per week. If you buy lunch twice a week, fill up gas once, and grab groceries once, you're already there. The fee waiver is automatic; you don't have to do anything except use the card.

This account makes less sense if you prefer cash, pay bills by check, or use a credit card for most purchases. If you can't reliably hit 10 debit card swipes per month, you'll pay $4.95 every month whether you use the account or not.

Advantage Plus: Best if you receive direct deposits or keep a buffer

Advantage Plus costs $12 per month. The fee waives if you meet either condition: a direct deposit of any amount hits your account, or you maintain a $1,500 minimum balance.

Direct deposit is the easier path for most people. If your employer, the government, or another institution sends money to your account on a regular schedule—paycheck, Social Security, unemployment, tax refund—the fee waives automatically. You don't have to keep any minimum balance. This is why Advantage Plus is often the default account for people who work.

If you don't receive direct deposits, the $1,500 minimum balance waiver works, but it ties up money you might otherwise spend or move. That $1,500 sits in the account doing nothing; Bank of America does not pay interest on checking balances. You're essentially paying $12 per month to keep that money locked in place.

Advantage Relationship Banking: Best if you have substantial savings

Advantage Relationship Banking costs $20 per month. The fee waives if you keep a $10,000 minimum balance in the checking account itself, or if you have a linked Bank of America savings account with $10,000 in it.

This account is designed for people who already have money parked at Bank of America. If you maintain a savings account with $10,000 or more, linking it to this checking account waives the fee at no extra cost. The savings account earns interest (though the rate varies and is typically low), so your money is not sitting idle the way it would be in a checking account minimum balance.

If you don't have $10,000 in savings or checking, this account will cost you $20 per month. That's $240 per year. It only makes financial sense if you already have the money and are keeping it at Bank of America anyway.

What all three accounts include

Regardless of which account you choose, you get the same basic tools: a debit card, online banking through Bank of America's website, a mobile app, access to Bank of America's ATM network (which is extensive), and the ability to deposit checks by phone or mobile app. You can also visit any Bank of America branch to deposit cash or withdraw money.

All three accounts allow unlimited transfers and withdrawals. There are no limits on how many times you move money out or how many external accounts you can link. The difference between the accounts is purely the fee and what waives it, not the functionality.

How to avoid paying the monthly fee

The simplest way to avoid fees is to choose the account whose waiver condition you already meet or can easily meet. If you use your debit card frequently, SafePass is free. If you receive a paycheck or regular transfer, Advantage Plus is free. If you have savings at Bank of America, Relationship Banking is free.

If you're not sure which account you'll use, start with Advantage SafePass. The $4.95 fee is the lowest, and the 10-debit-card waiver is the easiest to hit by accident. You can always switch to a different account later if your situation changes.

You can also call Bank of America at 1-800-432-1000 or visit a branch to ask about switching accounts. There is no penalty for moving from one checking account to another, and the process takes a few minutes.

Frequently Asked Questions

Can I have more than one Bank of America checking account?

Yes. You can open multiple checking accounts and manage them separately. Some people keep one account for bills and another for spending, or one for work income and another for freelance income. Each account has its own fee structure and waiver conditions, so you pay fees on each account unless you meet the waiver for that specific account.

What happens if I don't meet the waiver condition one month?

You pay the full monthly fee. For example, if you have Advantage SafePass and only make 8 debit card transactions in a month, you pay $4.95 that month. The fee is not waived retroactively if you hit 10 transactions the next month; each month is separate.

Do I need a minimum opening deposit to open a checking account?

Bank of America does not require a minimum opening deposit for any of these accounts. You can open an account with $0 and deposit money later. However, if your account is Advantage Plus or Relationship Banking, you'll pay the monthly fee until you meet the waiver condition.

Can I switch from one checking account to another without closing my current account?

Yes. You can open a new account while keeping your old one open. However, most people close the old account once the new one is set up to avoid paying fees on both. Bank of America will not charge you to close an account, but confirm that any automatic payments or direct deposits are moved to the new account first.

Which account earns interest?

None of the checking accounts earn interest. Bank of America savings accounts earn interest, but the rate is set by the bank and changes over time. If earning interest matters to you, you would need to open a separate savings account and link it to your checking account.