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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

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Highlights
Monthly Fee $0 - $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. 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.
  • Low APY. The maximum annual percentage yield for this account is only 0.02%.
  • Charges a monthly fee. This account charges a monthly maintenance fee of up to $25.
  • $100 minimum deposit. This is a typical minimum initial deposit, but there are accounts that require a smaller initial deposit or have no minimum.
  • 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 Relationship Banking® Pros & Cons
Pros Cons
  • 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
  • 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 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, rates may change).

Bank of America Advantage Relationship Banking® Rates and Terms
Rates Amount
APY (Annualized 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 opening deposit of $100 to open an account.

Bank of America Advantage Relationship Banking® Account Minimums
Description Amount
Minimum Opening Deposit $100
Minimum Combined Balance to Avoid Monthly Fee $10,000

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
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 $0 - $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

What features and perks does Bank of America Advantage Relationship 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 Relationship 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 Relationship 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 Relationship Banking® Disclosure: Bank of America Advantage Relationship 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 an 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 each within 90 days of opening your new account. 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 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. 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.

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 $0 - $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
Bank 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
  • FDIC Member
Signup Bonus $100
APY (Annual Percentage Yield) 0.01% - 0.02%

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