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  Bank of America Advantage Relationship Banking®
Bank of America Advantage Relationship Banking®
in Checking Accounts from Bank of America · Member FDIC
Unaffiliated

Bank of America Advantage Relationship 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

Rating not yet determined  

Cashback Rewards N/A
APY (Annual Percentage Yield) 0.01% - 0.02%
(Verified 11/14/2023)
Monthly Maintenance Fee $0 - $25
(Verified 11/14/2023)
Minimum Balance to Avoid Monthly Fee $20,000

Bank of America Advantage Relationship Banking® Review

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

Key Takeaways

  • Low APY. The maximum annual percentage yield for this account is only 0.02%. See www.bankofamerica.com/depositsrates for today's rates.
  • No monthly maintenance fee. Fee may be waived when you maintain a combined balance of at least $20,000 during each statement cycle in eligible linked accounts or when you are enrolled in Preferred Rewards.
  • $100 minimum opening deposit. This is a typical minimum initial deposit, but there are accounts that require a smaller initial deposit or have no minimum.
  • Bill pay. Pay your bills to practically anyone in the United States when you enroll in Bank of America mobile or online banking.

Bank of America Advantage Relationship Banking® Pros & Cons

Pros Cons
  • Generous bonus offer.
  • Available in all 50 states.
  • Interest-yielding account.
  • 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 wire transfers.
  • Higher than average wire transfer fees.
  • Monthly service charge.
  • Charges a higher than average fee on out-of-network ATM transactions.

Bank of America Advantage Relationship Banking® FAQ

Are checking accounts from Bank of America federally insured?

Yes, your deposits 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 Relationship Banking® offer?

Bank of America Advantage Relationship Banking® offers an APY starting at 0.01% and ranging up to 0.02% (APY stands for annual percentage yield, see www.bankofamerica.com/depositsrates for today's rates).

Bank of America Advantage Relationship Banking® Rates and Terms
Rates Amount
APY (Annual Percentage Yield) 0.01% - 0.02%

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

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

Bank of America Advantage Relationship Banking® Minimums
Description
Minimum Opening Deposit Starting at $100
Minimum Balance to Avoid Monthly Fee $20,000
Minimum Combined Balance to Avoid Monthly Fee $20,000

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

This account charges a monthly maintenance fee of up to $25.

Bank of America Advantage Relationship Banking® Fees
Description
Monthly Maintenance Fee $0 - $25*
ATM Fee: In-Network $0
ATM Fee: Out-of-Network Starting at $2.50
Foreign Transaction Fee (Debit Card) 3%
NSF Fee $35
Overdraft Item Fee $10
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) $16
Wire Transfer Fee - International (Outgoing) $45
Paper Statement Fee $5
Online Bill Pay Fee $0
Check Image Service $3
Debit Card Replacement Fee (Standard Delivery) $0
Early Account Closure $0

Does Bank of America Advantage Relationship Banking® charge overdraft fees?

Yes, Bank of America Advantage Relationship Banking® charges a $10 fee for every overdraft.

What features and perks does Bank of America Advantage Relationship Banking® 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 Advantage Relationship Banking® monitors transactions for potentially unauthorized activity, such as when a debit card is unexpectedly used in a different location or you make a sudden string of costly purchases.
  • Online Bill Pay - Online Bill Pay allows you to pay bills easily from your account.
  • Mobile Banking Services - Bank of America Advantage Relationship Banking® allows you to manage your money online or with a mobile app. This includes depositing checks in your account with a mobile app on your smartphone.
  • Nationwide ATM network - Conveniently transact at a nearby ATM.

What is the customer support email for Bank of America Advantage Relationship Banking®?

The customer support email for Bank of America Advantage Relationship Banking® is customerservicealert@bankofamerica.com.

Bank of America Advantage Relationship Banking® Disclosure: See www.bankofamerica.com/depositsrates for today's rates. No maintenance fee when you meet one of the following: • maintain a minimum daily balance of $20,000 in your account or • are a member of Bank of America Preferred Rewards®. View Bank of America Advantage Relationship 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.

Message From Bank of America Advantage Relationship Banking®

Welcome to the future of banking. A lifetime of changes. Just one checking account.

Advantage Relationship --- Perks for higher balances, like fee waivers and interest. No fees on select services and additional accounts. Earns interest, Option to set up Overdraft Protection. Paper checks available (no charge or discounted depending on check style)

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Availability

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

Feature Breakdown

Minimum Opening Deposit Starting at $100
Minimum Balance to Avoid Monthly Fee $20,000
Minimum Combined Balance to Avoid Monthly Fee $20,000
Monthly Maintenance Fee $0 - $25
(Verified 11/14/2023)
Monthly Maintenance Waiver Requirements Fee may be waived when you maintain a combined balance of at least $20,000 during each statement cycle in eligible linked accounts or when you are enrolled in Preferred Rewards.
ATM Fee: In-Network $0
ATM Fee: Out-of-Network Starting at $2.50
Foreign Transaction Fee (Debit Card) 3%
NSF Fee $35
Overdraft Item Fee $10
Overdraft Protection Fee (per transfer) $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) $16
Wire Transfer Fee - International (Outgoing) $45
Paper Statement Fee $5
Online Bill Pay Fee $0
Check Image Service $3
Debit Card Replacement Fee (Standard Delivery) $0
Early Account Closure $0
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Verification Documents Required
  • Driver License (or other photo ID)
  • Proof of Identity
  • Government Issued Photo ID
  • Social Security Number
Account Features
  • Free Bill Pay
  • Mobile Check Deposit
  • Interest Bearing Account
  • 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
  • Member FDIC
Signup Bonus $200
APY (Annual Percentage Yield) 0.01% - 0.02%
(Verified 11/14/2023)

Bank of America Advantage Relationship 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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