Bank of America Guide: Accounts, Fees, Limits, and Contact Info (2026)

By WealthVieu · Updated
Part of our Banking Guide 2026: Savings Accounts, CDs, Checking & HYSA Rates

Bank of America is the second-largest bank in the U.S. with 3,800+ branches and 16,000+ ATMs. Its Preferred Rewards loyalty program makes it significantly more valuable for customers who keep $20,000 or more with BofA or Merrill — unlocking fee waivers, higher deposit limits, and credit card reward bonuses of up to 75%. This guide covers every account, fee, limit, and service BofA offers, with detailed articles on each topic.

Bank of America Account Options

Account Monthly Fee Fee Waiver Best For
Advantage SafePass $4.95 None Budget-conscious, no overdraft risk
Advantage Plus $12 $1,500 balance or $250+ direct deposit Most customers
Advantage Relationship $25 $20,000 combined BofA/Merrill balance Preferred Rewards members
Savings $8 $500 balance, linked checking, or auto-transfer Basic savings
Business Fundamentals $16 $5,000 balance or $250+ deposits Small business

The minimum balance requirements for each account are closely tied to BofA’s Preferred Rewards tiers — qualifying balances that waive your monthly fee are the same thresholds that unlock better rates and credit card bonuses. Understanding which balance level you can realistically maintain determines which account is actually cheapest for you.

Bank of America Fees

Bank of America cut overdraft fees from $35 to $10 in 2022 — a 71% reduction that makes them the most overdraft-friendly of the four major traditional banks. That said, the full Bank of America fee schedule includes monthly maintenance fees, wire transfer costs, cashier’s check fees, and non-BofA ATM charges that add up quickly if you’re not aware of them.

Fee Amount How to Avoid
Monthly checking fee $4.95–$25 Balance or direct deposit requirements
Overdraft fee $10 per item SafePass account (no overdraft), balance alerts
Non-BofA ATM $2.50 Use BofA’s 16,000+ ATMs
Wire (domestic outgoing) $25–$30 Preferred Rewards Platinum Honors ($0)
Wire (international outgoing) $35–$45 Preferred Rewards (reduced)
Cashier’s check $10 Preferred Rewards ($0)
Stop payment $30 Only when necessary

The complete Bank of America fees guide breaks down every charge across checking, savings, and business accounts — including which fees disappear entirely at each Preferred Rewards tier.

Bank of America Limits

One of the most practical things to understand about any bank is its daily transaction limits — what you can withdraw, deposit by phone, and send to others. BofA’s limits scale significantly with Preferred Rewards status.

ATM Withdrawal Limits

The standard Bank of America ATM withdrawal limit is $1,000 per day for most checking accounts. Preferred Rewards members and Advantage Relationship customers can have limits up to $1,500–$5,000/day. If you need more cash urgently, you can call the number on the back of your card to request a one-time temporary increase — BofA approves these routinely for established accounts.

Mobile Deposit Limits

The Bank of America mobile deposit limit is $5,000 per day and $10,000 per month for standard accounts, with a cutoff at 8:00 PM local time. Accounts under 90 days old are capped at $2,500/day. The first $225 of any mobile deposit is available the same business day; the rest clears within 1–2 business days. For larger checks, you’ll need to visit a branch or ATM, or call to request a temporary limit increase.

Transfer Limits

Bank of America transfer limits differ substantially by transfer type:

Transfer Method Standard Daily Limit Preferred Rewards
Zelle $3,500/day Up to $10,000/day
ACH (external) $3,500/day $10,000+/day
Wire (online) $1,000/day Higher
Wire (branch) $100,000–$250,000/day Higher

Zelle is built directly into the BofA app and is the fastest option for sending money to individuals. Wire transfers are appropriate for large real estate or business transactions — the online cap is low but branch wires have much higher limits.

Bank of America Routing Numbers

Bank of America uses different routing numbers by state — a result of absorbing dozens of regional banks over the decades. Using the wrong routing number will delay or reject your direct deposit or ACH payment.

State Routing Number
California 121000358
New York 021200339
Texas 111000025
Florida 063100277
Georgia 061000052
Illinois 071000505
Virginia 051000017
New Jersey 021200339

The Bank of America routing number guide lists all 50 states and explains how to confirm yours — you can also find it on a check (bottom-left number), in the BofA mobile app under account details, or by calling customer service.

Bank of America Hours

Bank of America financial center hours are typically Monday–Friday 9:00 AM–5:00 PM and Saturday 9:00 AM–1:00 PM at most locations, though these vary by branch. Branches are closed Sundays and all 11 federal bank holidays. ATMs and online banking are available 24/7 regardless of branch hours.

If you need to visit a branch for a service that requires in-person handling — like a notarized document, a large wire transfer, or opening a new account — checking the branch locator before you go is worth 30 seconds. Hours vary more than you’d expect within the same city.

Preferred Rewards Program

Preferred Rewards is BofA’s loyalty tier system based on combined balances across your Bank of America deposit accounts and Merrill investment accounts.

Tier Balance Required Credit Card Bonus Fee Waivers
Gold $20,000+ +25% rewards boost Monthly fee waiver, some ATM fees
Platinum $50,000+ +50% rewards boost Free domestic wires, higher limits
Platinum Honors $100,000+ +75% rewards boost All fees waived, mortgage discount

Why Preferred Rewards changes the math: A BofA Premium Rewards card earns 2% on travel/dining normally. At Platinum Honors, the 75% boost makes that 3.5% — competitive with the best travel cards on the market, without an annual fee trade-off. At that level, BofA becomes one of the best banking relationships available for mass-affluent customers.

The minimum balance guide explains exactly which balances count toward each tier, how Merrill Lynch accounts factor in, and how to get credit for balances you already have spread across accounts.

Bank of America Customer Service

Department Phone Number Hours
Personal banking 1-800-432-1000 24/7
Credit cards 1-800-732-9194 24/7
Small business 1-800-688-6086 Mon–Fri 8AM–11PM ET
Mortgage 1-800-669-6607 Mon–Fri 8AM–10PM ET
Fraud 1-800-432-1000 24/7

The Bank of America customer service guide covers every department number, the best times to call to avoid hold times, how to reach a human quickly, and when it’s faster to use the mobile app or chat instead of calling. For routine issues like ATM limit increases or mobile deposit limit bumps, the app handles most requests without a wait.

BofA vs Other Major Banks

Bank of America sits in an interesting position: better branch coverage than Chase in many markets, more competitive fees than Wells Fargo, and a loyalty program that actually rewards staying. But for customers without $20,000+ to maintain, online banks like Ally or SoFi will offer better savings rates with no monthly fees.

The decision usually comes down to whether Preferred Rewards status is realistic for you. If you already have or plan to have $20,000+ in combined accounts, BofA becomes one of the most rewarding banking relationships available. Below that threshold, you’re paying more than you need to for the same services.

All Bank of America Guides

WealthVieu
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.

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