Bank of America charges a monthly fee unless you meet one of their account requirements

Bank of America's most common monthly fee is $12 for a standard checking account, though the exact amount depends on which account type you hold. You can avoid this fee by keeping a minimum balance, setting up direct deposit, or maintaining a linked savings account with a certain balance. The specific threshold varies by account — some require $1,500 in your checking account, others require $500 in linked savings, and some waive the fee entirely if you receive direct deposit.

The fee does not charge automatically if you meet even one of these conditions. Bank of America does not require you to do all of them — hitting any single requirement stops the monthly charge. The key is knowing which account you have and which waiver option is easiest for your situation.

Key Takeaways

  • Bank of America's $12 monthly fee waives if you maintain a $1,500 minimum balance in checking, receive direct deposit, or keep $500 in a linked savings account.
  • Different account types have different fee structures, so the exact threshold depends on whether you hold a Advantage Plus, Preferred Rewards, or another account variant.
  • The fee posts on the same day each month, so if you are close to a balance threshold, timing deposits before that date prevents the charge.
  • If the fee already posted to your account, you can contact Bank of America to request a one-time reversal, especially if you were unaware of the requirement.

Maintain the minimum balance to waive the monthly fee

The simplest way to avoid the fee is to keep your checking account balance above the threshold. For Bank of America's Advantage Plus checking account, that threshold is $1,500. If your balance drops below that amount on the day the fee would post, the $12 charge goes through.

The balance requirement applies to your checking account alone — savings balances do not count toward this threshold. If you are paid weekly or biweekly, you may naturally stay above $1,500 between paychecks. If you are paid monthly or have irregular income, this method may be harder to maintain consistently.

You can set up a balance alert in the Bank of America mobile app or online banking to notify you when your checking account drops below a certain amount. This gives you time to transfer money from savings or another account before the fee posts.

Set up direct deposit to waive the fee automatically

If your employer or a government program deposits your paycheck or benefits directly into your Bank of America account, the monthly fee waives automatically. This applies to paychecks, Social Security, pension payments, and other regular direct deposits — a single deposit per month is usually enough.

To set up direct deposit, you need your Bank of America account number and routing number, which you can find in the mobile app, online banking, or on a check. Give these details to your employer's payroll department or to the government agency handling your benefits. The first deposit typically posts within one to two pay cycles.

Direct deposit is the most reliable waiver method because it requires no action on your part after setup. Once the deposit starts, the fee stops, even if your balance later drops below the minimum.

Link a savings account with the required balance

Bank of America waives the checking account fee if you maintain $500 in a linked savings account. The savings account must be in your name and linked to the same checking account — you cannot use someone else's savings account to meet this requirement.

If you already have a Bank of America savings account, the accounts are usually linked automatically. You can check this in online banking under "Linked Accounts." If you do not have a savings account, you can open one in the mobile app or at a branch in minutes. There is no monthly fee on the savings account itself as long as you maintain the $500 balance.

This method works well if you are building an emergency fund or have money you do not plan to spend immediately. The $500 stays in savings while your checking account remains free.

Request a fee reversal if the charge already posted

If the $12 fee has already appeared on your account and you believe you met one of the waiver requirements, you can contact Bank of America to request a reversal. Call the number on the back of your debit card or visit a local branch with your account information.

Bank of America often reverses one or two monthly fees as a courtesy, especially if you were unaware of the requirement or if the fee was an error. They are less likely to reverse multiple months of fees, but it is worth asking. Have your account details ready and be prepared to explain which waiver condition you thought you met.

If the fee reversal is denied, you can switch to a different account type or bank. Some online banks and credit unions offer checking accounts with no monthly fee and no minimum balance requirement.

Understand which Bank of America account you hold

Bank of America offers several checking account types, and the fee structure differs slightly between them. The Advantage Plus checking account is the standard option and charges $12 monthly. The Advantage Plus Savings account is a combined product. Preferred Rewards customers may have different thresholds based on their tier level.

You can find your account type in online banking under "Account Details" or by calling the number on your debit card. Knowing your specific account type matters because the minimum balance requirement or other waiver conditions may vary. Some accounts waive the fee for customers with a certain Preferred Rewards status, which is based on your total relationship with the bank.

If you are unsure which account you have or what your specific fee waiver options are, a Bank of America representative can walk you through all available methods during a phone call or branch visit.

Switch to a no-fee account if the requirements do not fit your situation

If maintaining a $1,500 balance, setting up direct deposit, or keeping $500 in savings is not realistic for your situation, you have other options. Many online banks like Ally, Charles Schwab, and Discover offer checking accounts with no monthly fee, no minimum balance, and no direct deposit requirement.

Credit unions often have similar no-fee checking accounts, and you may be able to join one through your employer, school, or community. These accounts typically come with fewer perks than Bank of America — fewer ATMs, fewer branch locations — but they eliminate the monthly fee entirely.

If you want to keep your Bank of America account for other reasons, you can also downgrade to a savings account, which usually has no monthly fee. You would lose check-writing and debit card access, but you could still use the account for transfers and online payments.

Frequently Asked Questions

What day of the month does Bank of America charge the monthly fee?

The fee posts on the same day each month based on when you opened your account. You can find the exact date in online banking under "Account Details" or by calling Bank of America. If you know the date, you can time deposits to ensure your balance stays above the minimum on that day.

Does the direct deposit have to come from my employer?

No. Bank of America waives the fee for any regular direct deposit, including Social Security, pension payments, unemployment benefits, and transfers from another bank. A single deposit per month is usually enough to trigger the waiver.

Can I use my spouse's direct deposit to waive my fee?

Only if the direct deposit goes into an account in your name. Bank of America requires the deposit to post directly to your checking account. If your spouse's paycheck goes to a joint account, it counts toward the waiver for both of you.

What happens if my balance drops below $1,500 for just one day?

The fee only posts if your balance is below the threshold on the specific day the fee charges. If you dip below $1,500 on other days, the fee does not post. However, if you are close to the limit, it is safer to keep a small cushion above $1,500 to avoid accidental overdrafts.

Does Bank of America charge a fee on savings accounts?

Bank of America's standard savings account has no monthly fee as long as you maintain a $500 minimum balance. If your balance drops below $500, a $5 monthly fee applies. Some savings products, like money market accounts, have different fee structures.