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Bank of America Business Fundamentals Checking

in Business Checking Accounts from Bank of America · fdic

Unaffiliated

Bank of America Business Fundamentals Checking

Unaffiliated

in Business Checking Accounts from Bank of America · Member FDIC

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Highlights
Monthly Fee	$0 - $16
ATM Fee: Out-of-Network	$2.50
Minimum Balance to Avoid Monthly Fee	Starting at $5,000
APY (Annual Percentage Yield)	0%

Bank of America Business Fundamentals Checking Review

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

Key Takeaways

0% APY. As with most checking accounts, Bank of America Business Fundamentals Checking does not pay interest.
Charges a monthly fee. This account charges a monthly service fee of up to $16, but the fee is waived if you keep a minimum balance of $5,000.
Bill pay. Pay your bills to practically anyone in the United States through Bank of America.

Bank of America Business Fundamentals 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 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 Fundamentals 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 Fundamentals Checking offer?

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

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

Bank of America Business Fundamentals Checking Account Minimums
Description	Amount
Minimum Initial Deposit	$
Minimum Combined Balance to Avoid Monthly Fee	$5,000
Minimum Balance to Avoid Monthly Fee	$5,000

What fees does Bank of America Business Fundamentals Checking charge?

This account charges a monthly maintenance fee of up to $16.

Bank of America Business Fundamentals Checking Fees
Description
ATM Fee: In-Network	0
ATM Fee: Out-of-Network	$2.50
Check Cashing Fee	0
Check Copy	3
Check Image Service	3
Debit Card Replacement Fee	$5
Foreign Transaction Fee (Debit Card)	3%
Monthly Fee	$0 - $16
NSF Fee	35
Online Bill Pay Fee	$0
Overdraft Item Fee	$35
Overdraft Protection Fee (per transfer)	$12
Paper Statement Fee	5
Returned Deposit Fee (Domestic)	$12
Returned Deposit Fee (International)	$15
Stop Payment Fee	$30
Wire Transfer Fee - Domestic (Incoming)	$10
Wire Transfer Fee - Domestic (Outgoing)	30
Wire Transfer Fee - International (Incoming)	$16
Wire Transfer Fee - International (Outgoing)	46

What features and perks does Bank of America Business Fundamentals 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 Fundamentals 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 Fundamentals 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.

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