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  Bank of America Business Advantage Checking

Bank of America Business Advantage Checking

in Business Checking Accounts from Bank of America · Member fdic

Unaffiliated

Bank of America Business Advantage Checking

Unaffiliated

in Business Checking Accounts from Bank of America · Member FDIC

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Highlights
Monthly Fee $0 - $29.95
ATM Fee: Out-of-Network 2.5
Minimum Balance to Avoid Monthly Fee 15,000
APY (Annual Percentage Yield) 0%

Bank of America Business Advantage Checking Review

Bank of America Business Advantage Checking is offered by Bank of America, a bank founded in 1784 and based in Charlotte, NC. Bank of America Business Advantage Checking is available in 50 states (and Washington, DC).

Key Takeaways
  • 0% APY. As with most checking accounts, Bank of America Business Advantage Checking does not pay interest.
  • Charges a monthly fee. This account charges a monthly maintenance fee of up to $29.95, but the fee is waived if you keep a minimum balance of $15,000.
  • Free bill pay. Pay your bills to practically anyone in the United States through Bank of America.
  • Hard credit pull. Bank of America may require a hard pull on your credit report to open a checking account.
Bank of America Business Advantage Checking Pros & Cons
Pros Cons
  • Available in all 50 states.
  • Access to physical branches.
  • Free debit card and the option to lock/unlock the card if lost or stolen
  • Access to a nationwide network of ATMs.
  • No charge on incoming domestic or international wire transfers.
  • No signup bonus.
  • Does not earn interest
  • Higher than average wire transfer fees.
  • Monthly service charge.
  • Charges a higher than average fee on out-of-network ATM transactions.
Bank of America Business Advantage Checking FAQ

Are business checking accounts from Bank of America federally insured?

Yes, your Bank of America business checking accounts are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC). The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.

What APY does Bank of America Business Advantage Checking offer?

Bank of America Business Advantage Checking is not an interest-bearing account.

What are the account minimums for Bank of America Business Advantage Checking?

Bank of America Business Advantage Checking Account Minimums
Description Amount
Minimum Initial Deposit $
Minimum Combined Balance to Avoid Monthly Fee $15,000
Minimum Balance to Avoid Monthly Fee $15,000

What fees does Bank of America Business Advantage Checking charge?

This account charges a monthly maintenance fee of up to $29.95.

Bank of America Business Advantage Checking Fees
Description
ATM Fee: In-Network 0
ATM Fee: Out-of-Network 2.5
Check Cashing Fee 0
Check Copy 0
Check Image Service 0
Debit Card Replacement Fee 0
Foreign Transaction Fee (Debit Card) 3
Monthly Fee $0 - $29.95
NSF Fee 35
Online Bill Pay Fee 0
Overdraft Item Fee 35
Overdraft Protection Fee (per transfer) 12
Paper Statement Fee 0
Returned Deposit Fee (Domestic) 12
Returned Deposit Fee (International) 15
Stop Payment Fee 0
Wire Transfer Fee - Domestic (Incoming) 0
Wire Transfer Fee - Domestic (Outgoing) 30
Wire Transfer Fee - International (Incoming) 0
Wire Transfer Fee - International (Outgoing) 45

What features and perks does Bank of America Business Advantage Checking offer?

This account includes the following features:

  • Check images with statement - Reconciling your accounts and complying with document retention standards is easier when you have access to a copy of your checks.
  • Fraud monitoring - Bank of America Business Advantage Checking monitors transactions for potentially fraudulent activity, such as when a debit card is unexpectedly used in a different location or you make a sudden string of costly purchases.
  • Free Bill Pay - Bill Pay allows you to pay bills easily from your account.
  • Mobile Banking Services - Bank of America Business Advantage Checking allows you to manage your money online. This includes depositing checks in your account with your smartphone.
  • Nationwide ATM network - Conveniently transact at a nearby ATM.
SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Availability

  Available in 50 states and Washington, D.C.
  • Alaska
  • Alabama
  • Arkansas
  • Arizona
  • California
  • Colorado
  • Connecticut
  • Washington, DC
  • Delaware
  • Florida
  • Georgia
  • Hawaii
  • Iowa
  • Idaho
  • Illinois
  • Indiana
  • Kansas
  • Kentucky
  • Louisiana
  • Massachusetts
  • Maryland
  • Maine
  • Michigan
  • Minnesota
  • Missouri
  • Mississippi
  • Montana
  • North Carolina
  • North Dakota
  • Nebraska
  • New Hampshire
  • New Jersey
  • New Mexico
  • Nevada
  • New York
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Virginia
  • Vermont
  • Washington
  • Wisconsin
  • West Virginia
  • Wyoming

Feature Breakdown

Minimum Balance to Avoid Monthly Fee 15,000
Minimum Combined Balance to Avoid Monthly Fee 15,000
ATM Fee: In-Network 0
Check Cashing Fee 0
Check Copy 0
Check Image Service 0
Debit Card Replacement Fee 0
Online Bill Pay Fee 0
Paper Statement Fee 0
Stop Payment Fee 0
Wire Transfer Fee - Domestic (Incoming) 0
Wire Transfer Fee - International (Incoming) 0
ATM Fee: Out-of-Network 2.5
Foreign Transaction Fee (Debit Card) 3
Monthly Fee $0 - $29.95
NSF Fee 35
Overdraft Item Fee 35
Overdraft Protection Fee (per transfer) 12
Returned Deposit Fee (Domestic) 12
Returned Deposit Fee (International) 15
Wire Transfer Fee - Domestic (Outgoing) 30
Wire Transfer Fee - International (Outgoing) 45
Bank Account Features
  • Free Bill Pay
  • Mobile Check Deposit
  • Nationwide ATM Network
  • Check Images with Statement
  • Mobile Banking
  • Fraud Monitoring
  • Debit Card Lock/Unlock
  • Fraud Protection
  • Debit Card
  • Branch Access
  • FDIC Member
  • Expense Management

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