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Earn cash back on select deals with the Bank of America Advantage Plus Banking account

The Bank of America Advantage Plus Banking® account offers a large ATM network and cash-back offers. Here’s what to know about opening this account.

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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.

Bank of America Advantage Plus Banking review

Bank of America Advantage Plus Banking®

  • Monthly maintenance fee

    $12, with options to waive

  • Minimum deposit to open


  • Minimum balance

    $1,500 daily balance to avoid monthly maintenance fee

  • Annual Percentage Yield (APY)


  • Free ATM network

    16,900 Bank of America ATMs

  • ATM fee reimbursement


  • Overdraft fee


  • Mobile check deposit


See our methodology, terms apply. Bank of America is a Member FDIC.


The Bank of America Advantage Plus Banking account has no APY.

Access to your cash

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.


  • Earn cash back with BankAmeriDeals®, offers apply to participating stores and restaurants. Activation is required to benefit from each deal.
  • Zelle is integrated directly into the Bank of America mobile app, allowing you to send and receive money within minutes.
  • Over 16,900 fee-free Bank of America ATMs, so you can get cash or deposit money without paying a fee.
  • Mobile check deposit, which allows you to easily take a photo of a check and deposit it from within the Bank of America mobile app, saving you a trip to an ATM or bank.
  • Lock and unlock your card, halting most new transactions if your card is stolen, lost or misplaced. Autopay, returns, credits and some other transactions may continue to be processed.


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:

  • Have at least one qualifying direct deposit of $250.
  • Maintain a minimum daily balance of $1,500 or more.
  • Be a Preferred Rewards client (requires a minimum qualifying combined balance of $20,000 in a Bank of America® deposit and/or Merrill® investment accounts).
  • Be a student under age 24 who’s enrolled in high school, college, university or a vocational program.

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.

Bottom line

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.

Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.
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