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  Bank of America Advantage SafeBalance Banking

Bank of America Advantage SafeBalance Banking

in Checking Accounts from Bank of America · Member fdic

Unaffiliated

Bank of America Advantage SafeBalance Banking

Unaffiliated

in Checking Accounts from Bank of America · Member FDIC

SuperMoney Net Recommendation Score +29

SUPERMONEY NET RECOMMENDATION SCORE

This product is mostly recommended by SuperMoney users with a score of +29, equating to 3.6 on a 5 point rating scale.

+29

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.

Mostly recommended

2 users recommend
5 users are unsure
0 users don't recommend
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Highlights
Community Rating Mostly recommended
Monthly Fee $4.95
ATM Fee: Out-of-Network $2.50
Minimum Balance to Avoid Monthly Fee N/A
APY (Annual Percentage Yield) N/A
Number of Reviews 7

Bank of America Advantage SafeBalance Banking Review

Bank of America Advantage SafeBalance Banking is offered by Bank of America, a bank founded in 1784 and based in Charlotte, NC. Bank of America Advantage SafeBalance 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 enroll in this offer, open a new eligible Bank of America personal checking account through this page by June 30, 2021. Then set up and receive two qualifying direct deposits of $250 or more into that account within 90 days of opening. Bank of America will attempt to pay bonus within 60 days.
  • $0 monthly service fee availbale. The monthly maintenance fee is waived for Preferred Rewards clients or students under age 24 while enrolled in high school, college, university or a vocational program.
  • No ATM fees. Bank of America Advantage SafeBalance Banking does not charge fees on ATM transactions within its network but there is a fee of up to $2.50 for out-of-network 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 Banking Pros & Cons
Pros Cons
  • The monthly fee is waived for eligible students.
  • Provides Total Security Protection® and fraud monitoring.
  • Easy, anytime access at thousands of financial centers and ATMs.
  • Monthly service fee waived (see terms for requirements).
  • Offers a $100 bonus offer.
  • 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.
  • 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 Safebalance 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 Safebalance Banking offer?

Bank of America Advantage Safebalance Banking is not an interest bearing account.

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

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

Bank of America Advantage Safebalance Banking Account Minimums
Description Amount
Minimum Opening Deposit $25

What fees does Bank of America Advantage Safebalance Banking charge?

The monthly maintenance fee is waived for Preferred Rewards clients or students under age 24 while enrolled in high school, college, university or a vocational program. Otherwise, there is a monthly service fee of $4.95.
Bank of America Advantage SafeBalance Banking Fees
Description
ATM Fee: In-Network $0
Check Image Service $3
Debit Card Replacement Fee $5
Early Account Closure $0
Foreign Transaction Fee (Debit Card) 3%
Monthly Fee $4.95
NSF Fee $0
Online Bill Pay Fee $0
Overdraft Item Fee $0
Overdraft Protection Fee (per transfer) $0
Paper Statement Fee $5
Returned Deposit Fee (Domestic) $12
Returned Deposit Fee (International) $15
Stop Payment Fee $30
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 Safebalance Banking charge overdraft fees?

No, Bank of America Advantage Safebalance Banking does not charge overdraft fees.

What features and perks does Bank of America Advantage Safebalance Banking offer?

This account includes the following features:

  • 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 enroll in this offer, open a new eligible Bank of America personal checking account through this page by June 30, 2021. Then set up and receive two qualifying direct deposits of $250 or more into that account within 90 days of opening. Bank of America will attempt to pay the bonus within 60 days. Additional terms and conditions apply. See the offer page for more details.
  • 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 Safebalance 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 Online Bill Pay - Online Bill Pay allows you to pay bills easily from your account.
  • Mobile Banking Services - Bank of America Advantage Safebalance 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 Safebalance Banking?

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

How do people rate the customer service and user experience of Bank of America Advantage Safebalance Banking?

Overall, Bank of America Advantage Safebalance Banking is mostly recommended based on community reviews that rate customer service and user experience.

Bank of America Advantage SafeBalance Banking Disclosure: $4.95 or $0 – monthly fee may be waived for eligible students under 24 or 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. Step 1: To enroll in this offer, open a new 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 into that account within 90 days of opening. Bank of America will attempt to pay bonus within 60 days. Additional terms and conditions apply. See offer page for more details.
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

Bank of America is one of the world’s leading financial institutions, serving individuals, small- and middle-market businesses, large corporations, and governments with a full range of banking, investment management and other financial and risk management products and services. Our responsible business practices have a direct, positive impact on two areas critical to our growth: Our strength and stability as a global financial institution and our capacity to meet the financial needs of our clients in all phases of their lives.

We remember what it's like just starting out. That's why we waive our monthly maintenance fee for qualifying students.

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 Opening Deposit $25
ATM Fee: In-Network $0
Early Account Closure $0
NSF Fee $0
Online Bill Pay Fee $0
Overdraft Item Fee $0
Overdraft Protection Fee (per transfer) $0
Wire Transfer Fee - Domestic (Incoming) $0
Check Image Service $3
Debit Card Replacement Fee $5
Foreign Transaction Fee (Debit Card) 3%
Monthly Fee $4.95
Paper Statement Fee $5
Returned Deposit Fee (Domestic) $12
Returned Deposit Fee (International) $15
Stop Payment Fee $30
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
  • Free Bill Pay
  • Mobile Check Deposit
  • No Monthly Maintenance Fee
  • 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
  • Student Checking Account
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 enroll in this offer, open a new eligible Bank of America personal checking account through this page by June 30, 2021. Then set up and receive two qualifying direct deposits of $250 or more into that account within 90 days of opening. Bank of America will attempt to pay the bonus within 60 days. Additional terms and conditions apply. See the offer page for more details.
Signup Bonus $100

Bank of America Advantage SafeBalance Banking Community Reviews

 

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SUPERMONEY NET RECOMMENDATION SCORE

This product is mostly recommended by SuperMoney users with a score of +29, equating to 3.6 on a 5 point rating scale.

+29

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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