Bank of America, Member FDIC has once again garnered a spot on GOBankingRates’ Best Banks for 2025, earning honors as a Top National Bank with the Best Premium Checking account.
Along with a top-ranked Premium checking account, Bank of America has several other choices to appeal to a wide range of consumers. Find out how to open a Bank of America account.
Step-by-Step Guide: How To Open a Bank of America Account
Online Account Opening Process
- First, visit the Bank of America website and choose which account you want.
- You’ll need to enter your home zip code and then choose to add a savings account or apply for a checking account only.
- You’ll need to enter some basic information, including your phone number and email and whether or not you are a U.S. citizen.
- You can save your application at any time and come back to it later.
Currently, there is a welcome bonus worth up to $500 for opening a Bank of America checking account online. Check it out here.
In-Branch Account Opening Process
To open an account inside a Bank of America branch, call or stop by your local branch to make an appointment with a banker. Make sure to bring all the documents needed, as well as cash, a check or account information to make your initial deposit.
Documents Required to Open an Account
To open a checking account with Bank of America, you’ll need to provide your personal information to complete the application, including:
- Current mailing address
- Social Security number
- Email address
- Account number, if you have an existing checking account
- Same information for any joint account holder
You’ll be required to show two forms of identification. Acceptable primary forms of ID include:
- Driver’s license
- State-issued ID with photo
- U.S. passport
- Military ID with photo
- A debit or credit card with a photo, issued by Bank of America
Your second form of ID verifies your primary ID. Types of acceptable secondary IDs include:
- Major credit card from another financial institution
- Major retail credit card from a national department store or retail company
- Debit card with Visa or Mastercard logo from another financial institution
- U.S. college or university ID
- U.S. student ID card from a local high school
- U.S.-issued employment or work ID card or badge
Understanding Bank of America Account Options
Bank of America offers several account options, including low-cost checking accounts, savings, CDs and accounts for small or large businesses.
Bank of America Advantage Plus Banking®
This account type is designed for individuals and students who want an account with a low minimum balance requirement.
The monthly service fee is $12, but Bank of America will waive the fee if you have a monthly $250 direct deposit, or you maintain a $1,500 minimum daily balance or if you enroll in the Preferred Rewards program.
Bank of America Advantage Relationship Banking®
This account type is for individuals who maintain a high balance in their checking account. You’ll earn interest and receive perks such as service fee waivers, no charge for incoming domestic wires and the option to open other checking or savings accounts with waived monthly maintenance fees.
If you don’t maintain a combined $20,000 in balances among all of your Bank of America accounts, and you’re not a member of the Preferred Rewards program, then you’ll have to pay a $25 monthly service fee for the Advantage Relationship.
Bank of America Advantage SafeBalance Banking®
The Advantage SafeBalance is a “checkless” checking account type, which means there is no paper check writing for this account. It has a $4.95 monthly service fee that is waived for anyone under 25 and Preferred Rewards members.
Bank of America Advantage Savings®
Bank of America’s Advantage Savings account links easily to a Bank of America checking account to take advantage of features like round-up savings. Interest rates can go up to for Platinum Honors members.
Bank of America CDs
Bank of America offers three types of certificates of deposit: Featured, Fixed Term and Flexible. Featured accounts have terms ranging from seven to 37 months. Fixed Term CDs range from 28 days to 10 years and automatically renew with the same term. A Flexible CD is available for a one-year term, with an Annual Percentage Yield (APY) of .
Bank of America Business Advantage Fundamentals®
Designed for small business owners, the Business Advantage Fundamentals account has no monthly fee for the first 12 months and includes QuickBooks integration and a Zelle business account.
Bank of America Business Advantage Relationship®
For business owners who need a second account for a business partner, or a linked Business Savings account, along with no charge for incoming wire transfers and other benefits, a Relationship Banking account might be a better choice.
Bank of America Account Fees and Minimum Balance Requirements
Before signing up for a bank account, it’s important to understand the minimum deposit requirements and various fees. The chart below can help. You can also waive the fees on any Bank of America checking or savings account if you are a Preferred Rewards member.
| Account Name | Monthly Fee | How To Waive the Monthly Fee | Minimum Deposit |
|---|---|---|---|
| Advantage Plus Checking | $12 | -One qualifying direct deposit of at least $250, or -Maintain a minimum daily balance of $1,500 |
$100 |
| Advantage Relationship Checking | $25 | Minimum daily balance of $20,000 | $100 |
| Advantage SafeBalance Checking | $4.95 | -Be under the age of 25, or -Have a minimum daily balance of $500 |
$25 |
| Advantage Savings | $8 | -Link to an eligible Bank of America account, or -Be enrolled in Preferred Rewards and qualify for Gold, Platinum, Platinum Honors, Diamond or Diamond Honors, or -Be under the age of $25, or -Have a $500 minimum daily balance |
$100 |
| Business Advantage Fundamentals | $16 | -Free for the first year -After the first year, maintain a $5,000 combined average, or -Use your business debit card for $500 in purchases |
$100 |
| Business Advantage Relationship | $29.95 | Maintain a $15,000 combined monthly balance | $100 |
Bank of America also charges overdraft fees if your account balance is overdrawn by more than $1 at the end of the business day. SafeBalance checking and Advantage Savings accounts do not have overdraft fees. Bank of America may also charge wire transfer fees and other types of fees on certain accounts.
How To Fund Your New Bank of America Account
Bank of America personal and business checking accounts require a minimum opening deposit. You should have these funds available upon opening your account, whether you open it online or in person.
To fund your new account, you can issue a wire transfer or ACH deposit from another bank, make a deposit via cash or check or set up a direct deposit.
Benefits of Opening a Bank of America Account
Bank of America was ranked among the top financial institutions by GOBankingRates for several reasons. The bank offers many types of accounts to meet the needs of consumers and businesses alike, including new business owners and previously underbanked individuals.
Bank of America’s online banking platform and mobile app are some of the best in the industry, with access to features like interactive spending and budgeting tools and Erica, one of the first virtual financial assistants in the industry.
Bank of America has a network of thousands of branches and ATMs for fee-free transactions across the U.S.
Tips for Getting the Most Out of Your Bank of America Account
Bank of America rewards its higher-income customers with membership in the Preferred Rewards program. To qualify as a Gold member, simply hold an average of $20,000 or more in combined Bank of America accounts over three months. The more you save or invest, the more benefits you earn as you move up the ranks to Platinum, Platinum Honors or Diamond tiers.
Take advantage of tools like Erica, an AI-powered financial virtual assistant, online bill pay, Zelle and other resources to get the most out of your Bank of America account.
Set up automatic savings and also enroll in the Keep the Change program, to round up debit card purchases and deposit the difference in your savings account.
More About Bank of America
- Bank of America Review
- Bank of America CD Rates
- Bank of America Savings Account Interest Rates
- Bank of America Hours
- Bank of America Routing Numbers
How To Open a Bank of America Account FAQ
Here are the answers to some of the most frequently asked questions about opening a Bank of America account.- How long does it take to open a Bank of America account?
- Opening a checking, savings, or business account at Bank of America should take roughly 15 minutes once you gather all the materials and information you need.
- Can I open a Bank of America account without going to a branch?
- You can open a Bank of America account without going to a branch by visiting the Bank of America website and choosing the Advantage Banking account you want.
- What is the minimum deposit required to open a Bank of America checking account?
- Bank of America Advantage Plus Checking and Advantage Relationship checking accounts each require a $100 minimum opening deposit. Bank of America's low-cost Advantage SafeBalance Checking requires a $25 minimum opening deposit.
- Can I open a Bank of America account with a bad credit history?
- Bank of America may check your credit when you apply for a checking account. If you don't qualify for an Advantage Plus or Advantage Relationship checking account, you may be able to open an Advantage SafeBalance account, even if you have bad credit or no credit history.
Alicia Bodine contributed to the reporting for this article.
Information is accurate as of Sept. 26, 2025.
Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Sept. 26, 2025.
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.
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.