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Bank of America Advantage SafeBalance

in Checking Accounts from Bank of America · Member FDIC

Unaffiliated

Bank of America Advantage SafeBalance

Unaffiliated

in Checking Accounts from Bank of America · Member FDIC

SuperMoney Net Recommendation Score -36%

Mostly not recommended

2 users recommend

5 users are unsure

7 users don't recommend

Browse Reviews: 2 Recommendations | 7 Complaints

Highlights
Community Rating	Mostly not recommended
Monthly Fee	$0 - $4.95
ATM Fee: Out-of-Network	$2.50
Minimum Balance to Avoid Monthly Fee	N/A
APY (Annual Percentage Yield)	0.01%
Number of Reviews	14

Bank of America Advantage SafeBalance Review

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

Key Takeaways

Low APY. The maximum annual percentage yield for this account is only 0.01%.
Charges a monthly fee. This account charges a monthly maintenance fee of up to $4.95.
$25 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 SafeBalance 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 SafeBalance Pros & Cons

Pros	Cons
Available in all 50 states. Interest-yielding account. Access to physical branches. Free debit card	No signup bonus. Does not offer mobile check deposits. 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 SafeBalance 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 SafeBalance offer?

Bank of America Advantage SafeBalance Rates & Terms
Description
APY (Annual Percentage Yield)	0.01%

Bank of America Advantage SafeBalance offers an APY of 0.01% (APY stands for annual percentage yield, rates may change).

What are the account minimums for Bank of America Advantage SafeBalance?

Bank of America Advantage SafeBalance requires a minimum initial deposit of $25 to open an account.

Bank of America Advantage SafeBalance Account Minimums
Description	Amount
Minimum Initial Deposit	$25

What fees does Bank of America Advantage SafeBalance charge?

This account charges a monthly maintenance fee of up to $4.95.

Bank of America Advantage SafeBalance Fees
Description
Monthly Fee	$0 - $4.95
Paper Statement Fee	$5
ATM Fee: In-Network	$0
ATM Fee: Out-of-Network	$2.50
NSF Fee	$0
Overdraft Protection Fee (per transfer)	$0
Overdraft Item Fee	$0
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	$30
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)	$15
ATM Reimbursement Monthly Limit	N/A

What features and perks does Bank of America Advantage SafeBalance offer?

This account includes the following features:

Fraud monitoring - Bank of America Advantage SafeBalance 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.
Nationwide ATM network - Conveniently transact at a nearby ATM.

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