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  Bank of America Advantage Relationship Banking®

Bank of America Advantage Relationship Banking®

in Checking Accounts from Bank of America · fdic

Unaffiliated

Bank of America Advantage Relationship Banking®

Unaffiliated

in Checking Accounts from Bank of America · Member FDIC

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Highlights
Monthly Fee $25
ATM Fee: Out-of-Network $2.50
Minimum Balance to Avoid Monthly Fee N/A
APY (Annual Percentage Yield) 0.01% - 0.02%

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
  • Bonus offer. The $100 bonus offer is an online only offer for new checking customers and must be opened through the Bank Of America promotional page. To qualify, open an account through the promotional page and set up and receive qualifying direct deposits of $1000 or more into that account within 90 days of opening. The offer expires 12/31/2021. Bank of America will attempt to pay bonus within 60 days. Additional terms and conditions apply. See offer page for more details.
  • Low APY. The maximum annual percentage yield for this account is only 0.02%. See www.bankofamerica.com/depositsrates for today's rates.
  • Monthly maintenance fee waiver. The maintenance fee may be waived if you maintain a combined balance of at least $10,000 during each statement cycle in eligible linked accounts or be enrolled in Preferred Reward.
  • $100 minimum 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 through Bank of America.
Bank of America Advantage Relationship Banking® Pros & Cons
Pros Cons
  • Monthly service fee waived (see terms for requirements).
  • Offers a $100 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
  • No charge on incoming domestic wire transfers.
  • Does not provide access to a nationwide ATM network.
  • 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 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 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 Combined Balance to Avoid Monthly Fee $10,000
Minimum Opening Deposit Starting at $100

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

The maintenance fee may be waived if you maintain a combined balance of at least $10,000 during each statement cycle in eligible linked accounts or be enrolled in Preferred Reward. Otherwise, there is a monthly service fee of $25.
Bank of America Advantage Relationship Banking® Fees
Description
ATM Fee: In-Network $0
Check Image Service $3
Debit Card Replacement Fee $0
Early Account Closure $0
Foreign Transaction Fee (Debit Card) 3%
Monthly Fee $25
NSF Fee $35
Online Bill Pay Fee $0
Overdraft Item Fee $35
Overdraft Protection Fee (per transfer) $0
Paper Statement Fee $5
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
ATM Fee: Out-of-Network $2.50

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

Yes, Bank of America Advantage Relationship Banking® charges a $35 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.

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. The monthly maintenance fee may be waived if you maintain a combined balance of at least $10,000 during each statement cycle in eligible linked accounts or be enrolled in Preferred Rewards. The $100 bonus offer is an online only offer for new checking customers and must be opened through the Bank Of America promotional page. To qualify, open an account through the promotional page and set up and receive qualifying direct deposits of $1000 or more into that account within 90 days of opening. The offer expires 12/31/2021. Bank of America will attempt to pay bonus within 60 days. Additional terms and conditions apply. See offer page for more details. View Bank of America Advantage Relationship Banking®'s published terms & conditions.
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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.
  • 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 Combined Balance to Avoid Monthly Fee $10,000
Minimum Opening Deposit Starting at $100
ATM Fee: In-Network $0
Debit Card Replacement Fee $0
Early Account Closure $0
Online Bill Pay Fee $0
Overdraft Protection Fee (per transfer) $0
Stop Payment Fee $0
Wire Transfer Fee - Domestic (Incoming) $0
Check Image Service $3
Foreign Transaction Fee (Debit Card) 3%
Monthly Fee $25
NSF Fee $35
Overdraft Item Fee $35
Paper Statement Fee $5
Returned Deposit Fee (Domestic) $12
Returned Deposit Fee (International) $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
Account Features
  • Free Bill Pay
  • Mobile Check Deposit
  • No Monthly Maintenance Fee
  • Interest Bearing Account
  • 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
Bonus Offer The $100 bonus offer is an online only offer for new checking customers and must be opened through the Bank Of America promotional page. To qualify, open an account through the promotional page and set up and receive qualifying direct deposits of $1000 or more into that account within 90 days of opening. The offer expires 12/31/2021. Bank of America will attempt to pay bonus within 60 days. Additional terms and conditions apply. See offer page for more details.
Signup Bonus $100
APY (Annual Percentage Yield) 0.01% - 0.02%

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