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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) Starting at 0.01%

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
  • Charges a monthly fee. This account charges a monthly maintenance fee of up to $25.
  • $100 minimum deposit. This account requires a higher minimum initial deposit than most of the checking accounts we track.
  • No minimum initial deposit. There is no minimum balance required to open an account.
  • No ATM fees. Bank of America Advantage Relationship Banking® does not charge fees on 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 Relationship Banking® 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
  • No charge on incoming domestic wire transfers.
  • 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 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% (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%

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® Account Minimums
Description Amount
Minimum Initial 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
Monthly Fee $0 - $25
Paper Statement Fee $5
ATM Fee: In-Network $0
ATM Fee: Out-of-Network $2.50
NSF Fee $35
Overdraft Protection Fee (per transfer) $0
Overdraft Item Fee $35
Early Account Closure $0
Returned Deposit Fee (Domestic) $12
Debit Card Replacement Fee $5
Bank Teller Fee N/A
Check Cashing Fee N/A
Online Bill Pay Fee $0
Stop Payment Fee $0
Check Image Service $3
Check Copy N/A
Foreign Transaction Fee (Debit Card) 3%
Wire Transfer Fee - Domestic (Outgoing) $30
Wire Transfer Fee - International (Outgoing) $45
Wire Transfer Fee - International (Incoming) $16
Returned Deposit Fee (International) $15
Wire Transfer Fee - Domestic (Incoming) $0
ATM Reimbursement Monthly Limit N/A

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 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.
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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.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • 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
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

Minimum Combined Balance to Avoid Monthly Fee $10,000
Minimum Initial Deposit $100
ATM Fee: In-Network $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
Debit Card Replacement Fee $5
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
  • No ATM Fees
  • IRAs
  • FDIC Member
  • Branch Access
  • Bauer Financial A+/A Rating
  • Debit Card
  • Free Bill Pay
  • Fraud Protection
  • Debit Card Lock/Unlock
  • Fraud Monitoring
  • Mobile Banking
  • Check Images with Statement
  • Nationwide ATM Network
  • Interest Bearing Account
  • Mobile Check Deposit
APY (Annual Percentage Yield) Starting at 0.01%

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SUPERMONEY NET RECOMMENDATION SCORE

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