Bank of America’s overdraft fee is $10 per item — down from $35 since 2022 and the lowest among major traditional banks. The standard Advantage Plus checking account carries a $12 monthly maintenance fee, waivable with $250 in monthly direct deposits or a $1,500 minimum daily balance. This guide covers every BofA fee and exactly how to avoid each one.
Bank of America Fees at a Glance
| Fee Type | Amount | How to Avoid |
|---|---|---|
| Monthly Maintenance (Plus) | $12/month | $250 direct deposit OR $1,500 balance |
| Overdraft Fee | $10/item | Link savings for Balance Connect |
| Non-BofA ATM Fee | $2.50/transaction | Use Bank of America ATMs |
| Wire Transfer (Domestic out) | $30 | Use Zelle (free) |
| Wire Transfer (International out) | $45 | Use Wise or ACH |
| Stop Payment | $30/request | — |
| Cashier’s Check | $15/check | — |
| Expedited Debit Replacement | $20 | Standard replacement is free |
Bank of America Monthly Maintenance Fees
Bank of America offers three tiers of checking accounts with different fee structures and waiver conditions.
| Account | Monthly Fee | How to Waive |
|---|---|---|
| Advantage SafePass Banking | $4.95 | Cannot be waived |
| Advantage Plus Banking | $12 | $1,500 minimum daily balance OR $250+ monthly direct deposit |
| Advantage Relationship Banking | $25 | $10,000+ combined balance across BofA accounts |
Advantage Plus Banking is the account most people should consider. The $250 direct deposit threshold is one of the lowest among major banks — most paychecks will qualify. See the Bank of America minimum balance guide for exactly how the $1,500 balance threshold is calculated and which accounts count toward it.
Advantage SafePass Banking is a second-chance checking account with a $4.95 fee that can’t be waived. It doesn’t allow paper checks or debit card overdrafts, making it a lower-risk option for those rebuilding their banking history.
Advantage Relationship Banking is for customers with significant deposits who want premium perks: free wire transfers, free safe deposit boxes, and preferred rates.
Bank of America Savings Account Fees
| Account | Monthly Fee | How to Waive |
|---|---|---|
| Advantage Savings | $8 | $500 minimum daily balance OR linked to Advantage Relationship Banking OR account owner under 18 |
The $8 savings fee is higher than most competitors, and the APY is low. Unless you need the convenience of linked accounts, you’ll earn far more at an online bank.
Bank of America Overdraft Fees
Bank of America made headlines in 2022 by cutting overdraft fees from $35 to $10 — the largest reduction among the major banks at the time.
| Overdraft Detail | Policy |
|---|---|
| Fee per overdraft | $10 |
| Maximum daily fees | 2 ($20 total) |
| NSF (returned item) fee | $0 (eliminated) |
| Overdraft Protection transfer | Free from linked savings |
| Balance Connect | Free — links savings for automatic transfers |
How Bank of America Overdraft Works
- Low fee: Just $10 per overdraft, compared to $35 at Chase and Wells Fargo
- Daily cap: Maximum 2 overdraft fees per day ($20)
- No NSF fees: If BofA declines a transaction for insufficient funds, there’s no charge
- Free overdraft protection: Link a savings account and transfers are free
Balance Connect
Balance Connect is BofA’s free overdraft protection service. Link your savings account, and when you overdraft, money automatically transfers to cover the shortfall at no charge. This is the best way to avoid overdraft fees while still having transactions approved.
Bank of America ATM Fees
| ATM Type | Fee |
|---|---|
| Bank of America ATM | $0 |
| Non-BofA ATM (US) | $2.50 |
| International ATM | $5.00 |
| Foreign currency ATM | $5.00 + 3% foreign transaction fee |
| Preferred Rewards Gold, Platinum, Platinum Honors | Non-BofA domestic fee waived |
Bank of America operates over 15,000 ATMs across the United States. The $2.50 out-of-network fee is lower than Chase ($3.50) but adds up quickly if you frequently need cash outside the BofA network. For daily withdrawal limits at those ATMs, see the Bank of America ATM limit guide — the standard cap is $1,000 per day for most accounts.
International travel note: The 3% currency conversion fee applies even for Preferred Rewards members who have the $5 base fee waived, making BofA meaningfully more expensive than travel-focused banks like Charles Schwab for foreign ATM withdrawals.
Bank of America Wire Transfer Fees
| Wire Type | Fee |
|---|---|
| Domestic outgoing | $30 |
| Domestic incoming | $15 |
| International outgoing | $45 |
| International incoming | $16 |
Preferred Rewards Platinum Honors members ($100,000+ combined balance) receive waived wire transfer fees automatically.
Cheaper Alternatives to Wire Transfers
| Method | Cost | Speed |
|---|---|---|
| Zelle | Free | Instant |
| ACH transfer | Free | 1–3 business days |
| External bank transfer | Free | 1–3 business days |
| Wise | ~1% | 1–2 business days (international) |
Other Bank of America Fees
Account Service Fees
| Service | Fee |
|---|---|
| Stop payment | $30 |
| Cashier’s check | $15 |
| Money order | $5 |
| Notary service | Free for customers |
| Account research | $10/hour |
| Additional statement copies | $5 each |
| Safe deposit box | Starting ~$75/year (free for Relationship Banking) |
Debit Card Fees
| Service | Fee |
|---|---|
| Debit card replacement (standard) | Free |
| Debit card replacement (expedited) | $20 |
| International debit purchases | 3% foreign transaction fee |
Miscellaneous Fees
| Service | Fee |
|---|---|
| Returned deposited item | $12 |
| Insufficient funds (NSF) | $0 (eliminated) |
| Legal processing | $100 |
| Garnishment/levy processing | $100 |
| Early account closure | $0 |
Bank of America Preferred Rewards — Fee Reductions
Preferred Rewards status is based on your combined 3-month average balance across BofA deposit accounts and Merrill investment accounts. It offers meaningful fee reductions at higher tiers.
| Tier | Balance Required | Key Fee Benefits |
|---|---|---|
| Gold | $20,000 | Non-BofA ATM fee waived, 25% credit card rewards bonus |
| Platinum | $50,000 | All Gold benefits + 50% rewards bonus, free safe deposit box |
| Platinum Honors | $100,000 | All Platinum benefits + 75% rewards bonus, free wire transfers, free checks |
How to Avoid Bank of America Fees
For the Typical Customer
- Set up direct deposit of $250+ — Waives the $12 monthly fee
- Link savings for Balance Connect — Free overdraft protection
- Use only Bank of America ATMs — 15,000+ locations nationwide
- Use Zelle for transfers — Free and instant
For Low-Balance Customers
If you can’t meet the direct deposit requirement, consider Advantage SafePass Banking at $4.95/month with no overdraft risk. Alternatively, online banks like Capital One 360 and Ally have no monthly fees at all.
For High-Balance Customers
Enroll in Preferred Rewards — the perks at $20,000+ are substantial, and at $100,000 most fees disappear entirely. Merrill brokerage accounts count toward your balance threshold even when invested.
Bank of America Fees vs. Competitors
| Fee Type | Bank of America | Chase | Capital One 360 | Ally |
|---|---|---|---|---|
| Monthly fee | $12 | $12 | $0 | $0 |
| Overdraft | $10 | $35 | $0 | $0 |
| Out-of-network ATM | $2.50 | $3.50 | $0 | $0 |
| Wire (domestic out) | $30 | $30 | $30 | $20 |
Bank of America’s $10 overdraft fee is its biggest competitive advantage among traditional banks. For everything else, online banks are cheaper.
Bottom Line
Bank of America’s fee structure is manageable if you set up a $250 monthly direct deposit — that single action eliminates the $12 monthly maintenance fee, and Balance Connect eliminates overdraft risk for free. The $10 overdraft fee, if you do hit it, is the lowest among the major traditional banks.
For a full overview of accounts, limits, and contact information, see the Bank of America complete guide.
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