Bank of America offers three consumer checking accounts in 2026: Advantage Plus Banking ($12/month), Advantage SafeBalance ($4.95/month), and Advantage Relationship Banking ($25/month). The $250 direct deposit threshold for waiving the Advantage Plus fee is lower than Chase or Wells Fargo, making it straightforward to avoid the monthly charge for most working adults.
For a full overview of Bank of America accounts, fees, and features, see the Bank of America guide.
Bank of America Checking Account Comparison
| Feature | Advantage Plus | SafeBalance | Advantage Relationship |
|---|---|---|---|
| Monthly fee | $12 | $4.95 | $25 |
| Fee waiver | $250 DD, $1,500 balance, Preferred Rewards, or student | No waiver | $10,000 linked balance or Preferred Rewards |
| Overdraft fee | $10/item (max 2/day) | None (declined) | $10/item |
| Overdraft protection | Yes, link savings | N/A | Yes, link savings |
| Interest earned | None | None | 0.01% APY |
| Zelle | Yes | Yes | Yes |
| Mobile deposit | Yes | Yes | Yes |
| Minimum to open | $100 | $25 | $100 |
| FDIC insured | Yes | Yes | Yes |
Advantage Plus Banking (Most Popular)
Advantage Plus Banking is the standard Bank of America checking account, covering all day-to-day banking needs: debit card, online and mobile banking, Zelle, bill pay, mobile check deposit, and access to BofA’s ~15,000 ATMs.
How to waive the $12 monthly fee:
- $250 direct deposit — any qualifying direct deposit totaling $250+ per statement period. Payroll, government benefits, and pension payments qualify.
- $1,500 minimum daily balance — maintain $1,500 every day of the statement cycle
- Preferred Rewards enrollment — if you have $20,000+ across BofA bank and Merrill accounts
- Student status — enrolled in a college or university, under age 24
The $250 direct deposit threshold is the easiest waiver for most people. Chase requires $500/month and Wells Fargo requires $500/month — BofA’s bar is half that. If your paycheck or any regular government payment is $250 or more, your fee is waived automatically.
Overdraft: $10 per item, maximum 2 items per day ($20 maximum daily overdraft charges). This is significantly better than Chase ($34, up to 3/day) and Wells Fargo ($35, up to 3/day). For the full fee picture, see Bank of America fees 2026.
Advantage SafeBalance Banking
SafeBalance is Bank of America’s no-overdraft account. Transactions that would overdraft the account are declined — you cannot go negative, and there are no overdraft fees.
Key details:
- $4.95/month — no waiver available for most customers
- No overdraft, no negative balance possible
- Transactions declined when insufficient funds
- Available as a student account with waived fee
- Zelle, mobile deposit, bill pay all included
- Works with contactless payments (Apple Pay, Google Pay)
Who SafeBalance is for: Customers on a tight budget who want predictable banking costs without overdraft risk. If you currently pay $20–$40/month in overdraft fees at another bank, SafeBalance’s fixed $4.95 is a significant improvement.
Advantage Relationship Banking
Advantage Relationship Banking is BofA’s premium tier for customers with substantial linked balances.
Key details:
- $25/month — waived with $10,000 average daily balance across linked BofA accounts, or Preferred Rewards enrollment
- Earns 0.01% APY (nominal interest)
- Free incoming domestic and international wire transfers
- Free stop-payment orders, cashier’s checks, money orders, and standard checks
This account makes the most sense for Preferred Rewards members who qualify for fee waivers through Merrill investment accounts. For most customers, Advantage Plus with a waived fee is the better option.
Opening a Bank of America Checking Account
- Visit bankofamerica.com or a BofA branch
- Select “Open an Account” → choose Advantage Plus, SafeBalance, or Relationship
- Enter personal information (SSN, address, date of birth)
- Verify identity — most applicants approved instantly online
- Fund the account: $100 for Advantage Plus or Relationship; $25 for SafeBalance
Opening takes 5–10 minutes online. If you’ve had a bank account closed for cause (ChexSystems record), BofA may require in-branch opening with additional documentation.
New account bonus: BofA periodically offers $200–$300 bonus offers for new Advantage Plus customers who set up qualifying direct deposits within 90 days. Check bankofamerica.com for current promotions.
Setting Up Direct Deposit
The fastest way to waive the $12 Advantage Plus fee is to set up direct deposit from your employer:
- Provide your employer with BofA’s routing number for your state and your checking account number
- Your payroll department or HR system will have a direct deposit form
- Most direct deposits activate within 1–2 pay cycles
- Qualifying sources: payroll, government benefits (Social Security, disability), pension
For routing numbers by state, see the Bank of America routing number guide.
ATM Access
Bank of America’s ATM network includes approximately 15,000 BofA-branded ATMs nationwide. Using a non-BofA ATM costs $2.50 per withdrawal, plus the ATM owner’s surcharge.
Preferred Rewards Gold-tier members pay no BofA fees at non-BofA ATMs. Platinum and Platinum Honors members receive fee reimbursements from other ATM operators.
Daily ATM withdrawal limits vary by account and customer history — see the Bank of America ATM limit guide for the full breakdown.
Mobile and Online Banking
All three BofA checking accounts include full mobile and online banking:
- Mobile deposit: Deposit checks via the BofA app. Daily limits vary by account history — see Bank of America mobile deposit limits for details.
- Zelle: Send and receive money instantly with Zelle directly through the BofA app.
- Bill pay: Schedule and manage bill payments online.
- Account alerts: Set custom alerts for low balance, large transactions, and login activity.
For ACH transfer and Zelle limits, see the Bank of America transfer limit guide.
Who BofA Checking Is Best For
Strong fit:
- Working adults with a $250+ paycheck who want to pay $0/month
- Students who qualify for the fee waiver on SafeBalance or Advantage Plus
- Customers who value branch access — BofA has ~3,700 branches nationwide
- Preferred Rewards members consolidating banking and investing at BofA/Merrill
Less ideal:
- Interest-seekers — Advantage Plus earns 0%; online banks like Axos or SoFi pay 3%+ on checking
- Heavy cash users who need broad ATM fee reimbursement — BofA only covers its own ATMs
- Fee-sensitive customers who can’t reliably hit $250/month in direct deposits
BofA vs. Major Competitors
| Feature | BofA Advantage Plus | Chase Total Checking | Wells Fargo Everyday |
|---|---|---|---|
| Monthly fee | $12 | $12 | $10 |
| Direct deposit waiver | $250 | $500 | $500 |
| Overdraft fee | $10 (max 2/day) | $34 (max 3/day) | $35 (max 3/day) |
| Branch count | ~3,700 | ~4,700 | ~4,500 |
| Checking APY | 0% | 0% | 0% |
BofA’s overdraft fee structure ($10, max $20/day) is the standout advantage over Chase and Wells Fargo. Its direct deposit waiver threshold is also the lowest of the three. For a deeper comparison, see Bank of America vs Chase 2026 and Bank of America vs Wells Fargo 2026.
Bottom Line
Bank of America Advantage Plus Banking is a solid choice for anyone with a $250+ monthly direct deposit — the fee is waived, overdraft charges are capped at $20/day, and you get full access to BofA’s branch and ATM network. SafeBalance is the best option for customers who need a no-overdraft guarantee. Relationship Banking only makes sense for Preferred Rewards members.
For the full account evaluation, see the Bank of America review 2026. For a complete list of fees including wire and ATM charges, see Bank of America fees 2026.
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