Editor’s Note: APYs listed in this article are up-to-date as of the time of publication. They may fluctuate (up or down) as the Fed rate changes. CNBC will update as changes are made public.
Bank of America Advantage Plus Banking® consumers can benefit from a large ATM network, four ways to waive the $12 monthly maintenance fee and cash back offers at participating merchants with BankAmeriDeals®.
Here’s a deep dive into the Bank of America Advantage Plus Banking’s APY, access to your cash, perks and fees, so you can decide if this checking account is a good choice for you.
$12, with options to waive
$1,500 daily balance to avoid monthly maintenance fee
16,900 Bank of America ATMs
See our methodology, terms apply. Bank of America is a Member FDIC.
The Bank of America Advantage Plus Banking account has no APY.
Account holders can conveniently access cash every day by going to an ATM or visiting a teller at the bank. If you don’t need cash, Zelle is conveniently integrated into the Bank of America app, so you can send and receive money within minutes.
Debit card withdrawals from an ATM are limited to $1,500 per day. Debit card purchases have a higher threshold of $5,000 per day.
The Bank of America Advantage Plus Banking account comes with many common checking account fees, such as a $12 monthly fee and $35 overdraft fee.
You can waive the monthly fee by meeting one of these requirements each statement cycle:
The $35 overdraft fee applies to transactions over $1 and you can incur a maximum of four per day. You can pay a lower $12 overdraft fee if you sign up for overdraft protection, which can authorize transfers from a linked Bank of America savings or secondary checking account. The $12 fee applies to transfers exceeding $1 and there’s a limit of one transfer fee per day.
While Bank of America has over 16,900 fee-free ATMs, if you use a non-Bank of America ATM, Bank of America will charge you an ATM fee of $2.50 per U.S. transaction or $5 for each foreign country transaction. The ATM operator may also charge an additional fee.
Overall, the Bank of America Advantage Plus Banking account can be a good choice for you if you can meet the requirements to waive the monthly fee. And while this isn’t a no-fee checking account, there are four ways you can waive the monthly maintenance fee.