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

Bank of America's standard checking account, called the Checking Account, carries a $12 monthly maintenance fee. You can avoid paying it by meeting just one of several conditions. The easiest routes for most people are keeping a minimum balance, setting up direct deposit, or maintaining a linked savings account with a certain balance.

The fee applies automatically each month unless your account meets at least one waiver condition. Bank of America does not remove the fee retroactively if you meet a condition partway through the month — the fee posts first, then the waiver applies going forward. This means timing matters if you are close to a threshold.

Key Takeaways

  • Bank of America's $12 monthly maintenance fee waives if you keep $1,500 or more in your checking account, set up a direct deposit of any amount, or link a savings account with $2,500 or more.
  • The fee posts to your account each month, so meeting a waiver condition partway through does not refund that month's charge.
  • Direct deposit is the most reliable waiver because it requires no minimum balance and works even if you receive a small paycheck.
  • If you cannot meet any waiver condition, Bank of America offers a eChecking Account with no monthly fee, though it has fewer features.
  • Switching to a different bank's free checking account is an option if none of Bank of America's waivers fit your situation.

The four ways to waive the $12 monthly fee

Bank of America offers four separate conditions. Meeting any one of them stops the fee from posting. You do not need to meet all of them — just one is enough.

The first is maintaining a minimum daily balance of $1,500 in your checking account. Bank of America checks this balance on the last day of each month. If your balance is $1,500 or higher on that day, the fee does not post. This works even if your balance drops below $1,500 on other days during the month.

The second is setting up direct deposit. Any direct deposit counts — paycheck, government benefit, pension, or transfer from another account. The amount does not matter. Even a $1 direct deposit per month waives the fee. Once direct deposit is active on your account, the fee stops posting automatically.

The third is maintaining a linked Bank of America savings account with $2,500 or more. The savings account must be in your name and linked to your checking account. Bank of America checks this balance on the last day of the month, just like the checking balance. The $2,500 can sit in savings while your checking account has almost nothing.

The fourth is being under 18 years old. If your account is a student or youth account, the fee does not apply. Once you turn 18, you typically move to a standard account and the fee begins unless you meet one of the other three conditions.

How to set up direct deposit, the easiest waiver

Direct deposit is the most reliable waiver because it requires no balance and works with any amount. To set it up, you need your Bank of America account number and routing number. Both appear on the bottom left of any check you write from that account, or you can find them by logging into your online account or calling Bank of America at 1-800-432-1000.

Give your employer, benefits administrator, or whoever sends you money your account and routing numbers. They will set up the deposit on their end — you do not need to do anything else at Bank of America. The first deposit usually arrives within one to two pay periods. Once it posts, the monthly fee stops.

If you do not have an employer or regular income, you can also set up direct deposit from another account you own. Many people transfer money from a savings account or another bank to their Bank of America checking account each month. As long as the transfer is set up as a direct deposit (not a one-time transfer), it counts toward the waiver.

Keeping the minimum balance if direct deposit is not an option

If you cannot set up direct deposit, keeping $1,500 in your checking account is straightforward but requires discipline. Bank of America checks your balance on the last day of each month. As long as your balance is $1,500 or higher on that day, the fee does not post the next day.

This works if you have steady income and can afford to keep that much money sitting in checking rather than spending it or moving it to savings. The downside is that $1,500 earns no interest in a Bank of America checking account — the money just sits there. If you need that money to live on, this waiver may not be realistic for you.

One strategy is to move money into checking on the last day of the month just to meet the threshold, then move it back out on the first day of the next month. Bank of America does not prohibit this, though it takes planning and access to another account where the money can sit the rest of the month.

The linked savings account option

If you have $2,500 available but do not want to keep it in checking, linking a Bank of America savings account works. The savings account must be in your name and linked to your checking account through your online banking profile. Bank of America checks the savings balance on the last day of the month, just like checking.

The advantage is that savings accounts earn interest, though Bank of America's rates are typically lower than online banks offer. Your money is still accessible if you need it — you can transfer it from savings to checking within seconds using your online account or mobile app.

If you already have a Bank of America savings account, you may already be linked. Log into your account and check under "Linked Accounts" or "Account Settings" to confirm. If not, you can link it through the same menu.

The eChecking Account if you cannot meet any waiver

Bank of America offers a second checking product called the eChecking Account with no monthly maintenance fee and no minimum balance requirement. It is designed for people who cannot or do not want to meet the waiver conditions for the standard Checking Account.

The trade-off is that eChecking has fewer features. It does not include a debit card, checkbook, or overdraft protection. You can make deposits and withdrawals at Bank of America ATMs and branches, and you can transfer money online, but you cannot swipe a card at a store or restaurant. For someone who rarely uses a debit card and does most banking online or at ATMs, this is a real option.

You can open an eChecking Account at any Bank of America branch, online, or by calling 1-800-432-1000. If you already have a standard Checking Account, you can switch to eChecking to stop paying the fee, though you will lose the debit card and checkbook features.

What happens if the fee posts to your account

If the $12 fee posts because you did not meet a waiver condition that month, you can ask Bank of America to reverse it. Call 1-800-432-1000 or visit a branch and explain that you did not realize the fee was coming or that you were close to meeting a waiver condition.

Bank of America does not automatically reverse fees, but they often will as a one-time courtesy, especially if your account is in good standing and you have not asked for reversals before. They cannot reverse fees from months in the past — only the current month's charge. If you ask and they decline, you can still switch to eChecking or another bank to stop future fees.

Switching to another bank if Bank of America does not fit

Many banks and credit unions offer free checking with no minimum balance and no monthly fee. If none of Bank of America's waiver conditions work for you, moving your account elsewhere may save you $144 per year.

Before you switch, consider what you actually use your Bank of America account for. If you use the branch network frequently, switching to a bank with fewer branches nearby may be inconvenient. If you use the mobile app or online banking heavily, most banks offer similar tools. If you have other Bank of America products like a savings account or credit card, keeping your checking there might make sense even with the fee.

To switch, open a new account at your chosen bank, set up direct deposit to the new account, and gradually move your automatic payments and transfers over. You do not need to close your Bank of America account immediately — you can keep it open while you test the new bank, then close it once you are sure the switch works for you.

Frequently Asked Questions

Does Bank of America waive the fee if I have a credit card with them?

No. Having a Bank of America credit card does not waive the checking account maintenance fee. The four waivers are: direct deposit, $1,500 minimum balance in checking, $2,500 minimum balance in a linked savings account, or being under 18. A credit card does not count toward any of these.

If I set up direct deposit, how long until the fee stops?

Once your first direct deposit posts to your account, the fee stops posting going forward. This usually takes one to two pay periods from when you give your employer your account information. The fee that already posted in previous months will not be refunded — only future fees are waived.

Can I use a transfer from another bank as direct deposit?

Only if it is set up as a recurring automatic transfer through your other bank's bill pay or transfer system. A one-time transfer does not count. If you set up a recurring monthly transfer, Bank of America treats it as direct deposit and the fee waives. Contact your other bank to set this up if you want to use it as your waiver method.

What if my balance is $1,500 on most days but drops below it on the last day of the month?

The fee will post because Bank of America checks the balance on the last day of the month specifically. If your balance is $1,499 on that day, the waiver does not apply. You need to make sure your balance is at least $1,500 on the last day of each month to avoid the fee using this method.

Is there a way to get the monthly fee refunded if I did not know about it?

Call Bank of America at 1-800-432-1000 or visit a branch and ask them to reverse the charge. They often will as a one-time courtesy, but they are not required to. If they decline, you can switch to eChecking or another bank to stop future charges.