How can I get my Bank of America monthly service fee waived?

You can avoid Bank of America's monthly service fees by doing the following: Maintain a minimum daily balance which varies by account type. Enroll in the Preferred Rewards program. Qualify for the under 25 years of age waiver.

What is the overdraft limit for Bank of America accounts?

Bank of America limits overdrafts to two a day.

Does Bank of America refund ATM fees?

Bank of America does not automatically refund ATM fees. However, customers in the Preferred Rewards program may receive fee waivers for out-of-network ATM usage.

Are there fees for closing a Bank of America account?

No, Bank of America does not charge customers if they wish to close their accounts . However, you will need to take several steps before your account can be officially closed: Confirm your mailing and email addresses. Cancel any automatic payments and cease making new transactions. Zero your account balance. Download any statements you might need for recordkeeping. Destroy all checks and debit cards connected to the account.

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Bank of America Monthly Maintenance Fees: Costs and Ways To Avoid Them

February 25, 2026

6 min Read

Written by Sean Dennison

Edited by Nupur Gambhir, CFHC™

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Bank of America, Member FDIC, offers a number of checking and savings accounts. Like most banks, it charges monthly fees depending on the account you have, but it also has options for avoiding those fees. Customers can avoid Bank of America’s fees in several ways, such as by setting up approved direct deposits or fulfilling account balance requirements. Read on to learn more.

Bank of America Monthly Maintenance Fees

Here’s a breakdown of Bank of America’s monthly maintenance fees:

Account	Monthly Maintenance Fee
Advantage SafeBalance	$4.95
Advantage Plus	$12
Advantage Relationship	$25
Bank of America Advantage Savings	$8

Bank of America Checking Account Fees

Depending on what type of account you have, the checking account monthly maintenance fee can vary.

There is a $4.95 monthly maintenance fee for Advantage SafeBalance Banking®, a $12 monthly maintenance fee for Advantage Plus Banking® and a $25 monthly maintenance fee for Advantage Relationship Banking®, but only Advantage Relationship Banking earns interest.

While there are no student-specific checking accounts, Bank of America will waive the monthly maintenance fee for those under age 25 on the Bank of America SafeBalance Banking account.

Here’s a quick look at the monthly maintenance fees for each of Bank of America’s checking account options.

Account	Monthly Service Fee	Earns Interest
Advantage SafeBalance	$4.95	No
Advantage Plus	$12	No
Advantage Relationship	$25	Yes

Bank of America Savings Account Fees

Bank of America’s Advantage Savings account comes with an $8 monthly maintenance fee. The monthly service fee is waived for those under 25.

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The APY the bank offers is low compared with the national rate of 0.41% APY. Qualifying for Preferred Rewards can bring the APY up a little, but it remains lower than the national rate.

Account	Monthly Service Fee	Standard Annual Percentage Yield
Bank of America Advantage Savings	$8	APY for all balances

Bank of America Overdraft Fees

Bank of America charges a $10 overdraft fee per transaction, capped at two fees per day. The good news: there are several ways to avoid paying it.

Keep a cushion in your account. Maintaining a sufficient balance helps prevent accidental overdrafts.
Enroll in Balance Connect® overdraft protection. This feature automatically transfers funds from a linked eligible account to cover shortfalls.
Choose Advantage SafeBalance Banking®. This account doesn’t allow overdrafts, so transactions that exceed your balance are declined instead of triggering a fee.

Taking advantage of these options can help you avoid unexpected charges and stay in control of your account.

Other Common Bank of America Fees

Here’s an overview of other fees you can expect from Bank of America:

Fee Type	Cost
Out-of-network ATM withdrawal	– In U.S.: $2.50 – Outside of U.S.: $5
Overdraft	$10
Wire transfer	-Domestic outgoing wire: $30 -Domestic incoming wire: $15 -International outgoing wire: $45 -International outgoing wire (foreign currency): $0 -International incoming wire: $15
International debit purchase	3%

Fees listed reflect amounts typically charged; exceptions may apply.

How to avoid Bank of America’s monthly maintenance fees

Bank of America offers several ways to waive monthly maintenance fees, depending on your account type. The most common options include maintaining a minimum balance, setting up direct deposit, enrolling in Preferred Rewards or qualifying by age.

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Here’s how it breaks down:

Maintain the required minimum balance

Keeping a qualifying balance is one of the simplest ways to avoid monthly fees.

Advantage Savings: Maintain a $500 minimum daily balance
Advantage Plus Checking: Maintain a $1,500 minimum daily balance
Advantage Relationship Banking®: Maintain a $20,000 combined balance across eligible linked accounts

Set up qualifying direct deposit

Some accounts allow you to waive the fee by receiving direct deposits.

Advantage Plus Checking: Receive at least one qualifying direct deposit of $250 or more per statement cycle

Link eligible accounts

Linking accounts may help you qualify for balance-based fee waivers.

Advantage Savings: Link to an eligible Advantage Relationship Banking® account

Enroll in Preferred Rewards

Preferred Rewards members receive monthly maintenance fee waivers on eligible accounts. To qualify, you must have an active personal checking account and maintain a three-month average combined balance of:

$20,000 (Gold)
$50,000 (Platinum)
$100,000 (Platinum Honors)
$1 million (Diamond)

Qualify for the under-25 waiver

If you’re under age 25, monthly maintenance fees are waived on:

Advantage SafeBalance Banking®
Advantage Savings

How to keep Bank of America fees from eating into your balance

Bank of America’s monthly maintenance fees vary by account, but most are avoidable if you know the rules. Maintaining the required balance, setting up qualifying direct deposits or enrolling in Preferred Rewards can help you skip the monthly charge altogether.

Other fees — like overdrafts, wire transfers and out-of-network ATM charges — can add up over time. Taking a few minutes to understand your account’s fee structure can make a real difference in what you pay each year.

If avoiding monthly fees is your top priority, it may also be worth comparing options. Some online banks offer accounts with no monthly maintenance fees and fewer add-on costs, which could help you keep more of your money working for you.

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FAQ

Here are the answers to some of the most frequently asked questions about Bank of America's monthly maintenance fees.

How can I get my Bank of America monthly service fee waived?
- You can avoid Bank of America's monthly service fees by doing the following:
  - Maintain a minimum daily balance which varies by account type.
  - Enroll in the Preferred Rewards program.
  - Qualify for the under 25 years of age waiver.
What is the overdraft limit for Bank of America accounts?
- Bank of America limits overdrafts to two a day.
Does Bank of America refund ATM fees?
- Bank of America does not automatically refund ATM fees. However, customers in the Preferred Rewards program may receive fee waivers for out-of-network ATM usage.
Are there fees for closing a Bank of America account?
- No, Bank of America does not charge customers if they wish to close their accounts. However, you will need to take several steps before your account can be officially closed:
  - Confirm your mailing and email addresses.
  - Cancel any automatic payments and cease making new transactions.
  - Zero your account balance.
  - Download any statements you might need for recordkeeping.
  - Destroy all checks and debit cards connected to the account.

More on Bank of America

Cynthia Measom contributed to the reporting for this article.

Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Feb. 25, 2026.

Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.

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