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  Bank of America Advantage Plus Banking®

Bank of America Advantage Plus Banking®

in Checking Accounts from Bank of America · Member fdic

Unaffiliated

Bank of America Advantage Plus Banking®

Unaffiliated

in Checking Accounts from Bank of America · Member FDIC

Net Recommendation Score +100

SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly recommended by SuperMoney users with a score of +100, equating to 5 on a 5 point rating scale.

+100

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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Highlights
Community Rating

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Monthly Fee $0 - $12
ATM Fee: Out-of-Network $2.50
Minimum Balance to Avoid Monthly Fee $1,500
APY (Annual Percentage Yield) N/A

Bank of America Advantage Plus Banking® Review

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

Key Takeaways
  • Bonus offer. To qualify, open an account through the promotional page and set up and receive two qualifying direct deposits of $250 or more into that account within 90 days of opening.
  • Charges a monthly fee. This account charges a monthly maintenance fee of up to $12, but the fee is waived if you keep a minimum balance of $1,500 or have a monthly direct deposit of $250.
  • $100 minimum deposit. This is a typical minimum initial deposit, but there are accounts that require a smaller initial deposit or have no minimum.
  • No ATM fees. Bank of America Advantage Plus Banking® does not charge fees on ATM transactions within its network but there is a fee of up to $2.50 for out-of-network ATM transactions.
  • 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 Advantage Plus Banking® Pros & Cons
Pros Cons
  • Offers a $100 bonus offer.
  • Available in all 50 states.
  • Access to physical branches.
  • Free debit card and the option to lock/unlock the card if lost or stolen
  • Does not earn interest.
  • Higher than average wire transfer fees.
  • Monthly service charge (if minimums are not met).
  • Charges a higher than average fee on out-of-network ATM transactions.
Bank of America Advantage Plus Banking® FAQ

Are checking accounts from Bank of America federally insured?

Yes, your Bank of America 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 Advantage Plus Banking® offer?

Bank of America Advantage Plus Banking® is not an interest bearing account.

What are the account minimums for Bank of America Advantage Plus Banking®?

Bank of America Advantage Plus Banking® requires a minimum opening deposit of $100 to open an account.

Bank of America Advantage Plus Banking® Account Minimums
Description Amount
Minimum Opening Deposit $100
Minimum Direct Deposit to Avoid Monthly Fee $250
Minimum Balance to Avoid Monthly Fee $1,500

What fees does Bank of America Advantage Plus Banking® charge?

This account charges a monthly maintenance fee of up to $12.

Bank of America Advantage Plus Banking® Fees
Description
ATM Fee: In-Network $0
Check Image Service $3
Debit Card Replacement Fee $5
Early Account Closure $0
Foreign Transaction Fee (Debit Card) 3%
Monthly Fee $0 - $12
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) $15
Wire Transfer Fee - Domestic (Outgoing) $30
Wire Transfer Fee - International (Incoming) $16
Wire Transfer Fee - International (Outgoing) $45
ATM Fee: Out-of-Network $2.50

What features and perks does Bank of America Advantage Plus Banking® offer?

This account includes the following features:

  • Signup Bonus - Open an account and you will receive a signup bonus of up to $100.
  • 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 Advantage Plus Banking® 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 Advantage Plus Banking® 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.
Bank of America Advantage Plus Banking® Disclosure: Bank of America Advantage Plus Banking® Disclosure: The $100 bonus offer is an online only offer for new checking customers and must be opened through the Bank of America promotional page. Step 1: To enroll in this offer, open a new eligible Bank of America personal checking account through this page by June 30, 2021. Step 2: Set up and receive two qualifying direct deposits of $250 or more into that account within 90 days of opening. Bank of America will attempt to pay bonus within 60 days. Additional terms and conditions apply. See offer page for more details. The maintenance fee may be waived for eligible students under 24 or enrolled in Preferred Rewards or have at least one qualifying direct deposit of $250 or more, or maintain a minimum daily balance of at least $1,500 each statement cycle. View Bank of America Advantage Plus Banking®'s published terms & conditions.
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 Direct Deposit to Avoid Monthly Fee $250
Minimum Opening Deposit Starting at $100
Minimum Balance to Avoid Monthly Fee $1,500
ATM Fee: In-Network $0
Early Account Closure $0
Online Bill Pay Fee $0
Check Image Service $3
Debit Card Replacement Fee $5
Foreign Transaction Fee (Debit Card) 3%
Monthly Fee $0 - $12
NSF Fee $35
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) $15
Wire Transfer Fee - Domestic (Outgoing) $30
Wire Transfer Fee - International (Incoming) $16
Wire Transfer Fee - International (Outgoing) $45
ATM Fee: Out-of-Network $2.50
Bank Account Features
  • No ATM Fees
  • Free Bill Pay
  • Mobile Check Deposit
  • Nationwide ATM Network
  • Check Images with Statement
  • Mobile Banking
  • Fraud Monitoring
  • Debit Card Lock/Unlock
  • Fraud Protection
  • IRAs
  • Debit Card
  • Bauer Financial A+/A Rating
  • Branch Access
  • FDIC Member
  • Student Checking Account
Signup Bonus $100

Bank of America Advantage Plus Banking® Community Reviews

 

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SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly recommended by SuperMoney users with a score of +100, equating to 5 on a 5 point rating scale.

+100

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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