Bank of America offers three consumer checking accounts in 2026. Advantage Plus Banking is the standard option for most customers; Advantage SafeBalance is the no-overdraft alternative; Advantage Relationship Banking is for high-balance customers. 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.
Most working adults with direct deposit will pay $0/month with BofA Advantage Plus Banking.
Bank of America Checking Account Comparison
| Feature | Advantage Plus | SafeBalance | Advantage Relationship |
|---|---|---|---|
| Monthly fee | $12 | $4.95 | $25 |
| Fee waiver | $250 DD or $1,500 balance or Preferred Rewards or student | No waiver | $10,000 linked balance or Preferred Rewards |
| Overdraft | $10 per item (max 2/day) | None (declined) | $10 per 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. It covers all day-to-day banking needs: debit card, online and mobile banking, Zelle, bill pay, mobile 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 + Merrill accounts
- Student status — enrolled in a college or university, under age 24
The $250 direct deposit threshold is the easiest waiver. By comparison, Chase requires $500 and Wells Fargo requires $500. If you receive any payroll deposit of $250+, the fee is waived.
Overdraft: $10 per item, maximum 2 items per day ($20 maximum daily overdraft charges). This is significantly better than Chase ($34, 3/day) and Wells Fargo ($35, 3/day).
Advantage SafeBalance Banking
SafeBalance is Bank of America’s no-overdraft account. Transactions that would overdraft the account are simply declined — you cannot go negative. There are no overdraft fees, and no possibility of a surprise $10 charge.
Key details:
- $4.95/month — no waiver available
- No overdraft, no negative balance
- Transactions declined when insufficient funds
- Available as 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 the risk of overdraft fees. If you frequently overdraft and pay $10–$20/month in overdraft fees at another bank, SafeBalance’s $4.95 fixed cost may be cheaper.
Advantage Relationship Banking
Advantage Relationship Banking is BofA’s premium checking for customers with substantial linked account balances.
Key details:
- $25/month — waived with $10,000 average daily balance across linked BofA accounts, or with Preferred Rewards enrollment
- Earns 0.01% APY (minimal interest)
- Free incoming domestic and international wire transfers
- Free stop-payment orders
- Free cashier’s checks and money orders
- Free standard checks
This account makes the most sense for Preferred Rewards members who qualify for fee waivers through their linked Merrill investment accounts.
How to Open a Bank of America Checking Account
- Visit bankofamerica.com or a BofA branch
- Select “Open an Account” → choose account type
- Enter personal information (SSN, address, employment)
- Verify identity — most applicants approved instantly
- Fund account: $100 recommended for Advantage Plus ($25 minimum for SafeBalance)
Opening takes 5–10 minutes online. If you’ve had a bank account closed for cause (ChexSystems), BofA may decline or 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. Check bankofamerica.com for current offers.
BofA ATM Network
Bank of America’s ATM network includes approximately 15,000 BofA-branded ATMs plus participation in the Allpoint network for additional fee-free access. Non-BofA, non-Allpoint ATMs charge $2.50 per withdrawal plus the ATM surcharge.
Preferred Rewards members pay no fees at non-BofA ATMs (Gold tier) or get fee reimbursements (Platinum and above).
See also: BofA savings account | BofA fees complete guide | BofA minimum balance rules | Bank of America review
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