Bank of America Checking Accounts 2026: Fees, Options & How to Waive

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

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:

1. $250 direct deposit — any qualifying direct deposit totaling $250+ per statement period. Payroll, government benefits, and pension payments qualify.
2. $1,500 minimum daily balance — maintain $1,500 every day of the statement cycle
3. BofA Rewards Preferred Plus, Preferred Honors, or Premier tier — if you have $30,000+ combined across BofA bank and Merrill accounts
4. 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 — waived if an account owner is under 25, you maintain a $500 daily balance, or you qualify for a BofA Rewards Preferred Plus/Preferred Honors/Premier tier
• 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 a $20,000 minimum daily balance across linked BofA accounts, or a qualifying BofA Rewards Preferred Plus/Preferred Honors/Premier tier
• 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 BofA Rewards Preferred Plus/Preferred Honors/Premier 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

1. Visit bankofamerica.com or a BofA branch
2. Select “Open an Account” → choose Advantage Plus, SafeBalance, or Relationship
3. Enter personal information (SSN, address, date of birth)
4. Verify identity — most applicants approved instantly online
5. 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: As of September 16, 2026, Bank of America is offering a tiered cash bonus for new Advantage Plus Banking customers based on qualifying direct deposits within 90 days of account opening — reported amounts include $100 for $2,000+ in deposits, $300 for $5,000+, and $500 for $10,000+. This offer was listed as expiring September 30, 2026. Bonus tiers and deadlines change frequently — confirm the current offer at bankofamerica.com before opening an account.

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.

BofA Rewards Preferred Plus tier members and above qualify for a waiver of the non-BofA ATM fee (with limits at the Preferred Plus tier); Preferred Honors and Premier tier members receive broader fee waivers and ATM operator fee refunds.

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
• BofA 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

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 makes the most sense for BofA Rewards Preferred Plus/Preferred Honors/Premier members or those who can maintain a $20,000+ balance.

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.

Written by WealthVieu

WealthVieu researches and writes data-driven personal finance guides using primary sources including the IRS, Bureau of Labor Statistics, Federal Reserve, and Census Bureau.