Bank of America Overview

Bank of America offers three distinct accounts to help meet you wherever you are in your financial journey:

• Bank of America Advantage SafeBalance Banking®

• Bank of America Advantage Plus Banking®

• Bank of America Advantage Relationship Banking®

All options include the potential to waive monthly maintenance fees, access to digital and in-person banking, and benefits through the Preferred Rewards® program. Overdraft protection is available on select accounts.

Bank of America at a Glance

Suitable For?

Bank of America offers three different checking account options that are suitable for a diverse audience:

• Bank of America Advantage SafeBalance Banking®: Great for students and budget-conscious users; minimum opening deposit: $25. No paper checks. No overdraft fees.
• Bank of America Advantage Plus Banking®: Designed for general-purpose users; opening deposit: $100. Includes check-writing and Balance Connect® overdraft protection.
• Bank of America Advantage Relationship Banking®: Best for high-balance customers; opening deposit: $100. Offers interest earnings and benefits on linked accounts.

Monthly maintenance fees range from $4.95 to $25, with ways to avoid them including account balance minimums and Preferred Rewards® status.

Features/Highlights

Bank of America checking accounts offer a variety of benefits depending on your banking profile. With BankAmeriDeals®, you can earn up to 10% cash back at select retailers by simply choosing your deals online and using your linked debit card. If you're a member of the Preferred Rewards® program, you'll unlock additional perks like waived monthly maintenance fees and bonus rewards.

The bank also offers modern digital tools. You can use Erica®, the virtual assistant, to manage your money, track subscriptions, lock your debit card, or schedule bill payments. Zelle® is available for sending and receiving money, and mobile check deposits can be done directly from the app.

Traditional banking features haven’t been forgotten. Bank of America maintains thousands of ATMs and financial centers across the country, making it easy to access your money when and where you need it. If you have multiple Bank of America accounts, you can set up overdraft protection by linking them. The bank also provides savings accounts, credit cards, CDs, and IRAs, offering a full suite of financial solutions.

Interest rates and fees

All three checking account options offered by Bank of America charge monthly maintenance fees that range between $4.95 and $25. However, these can be waived through qualifying activities such as maintaining a minimum daily balance on your account or becoming a member of its Preferred Rewards program.

You can earn rewards on your checking account balance if you’re a Preferred Rewards member and sign up for the Advantage Relationship Banking option. Depending on your balance you can earn an interest of 0.01% to 0.02%.

Customer Service & Experience

Bank of America offers strong support through multiple channels. You can access 24/7 automated customer service via the website or mobile app, or speak to a live representative during extended weekday and weekend hours. The bank also has a dedicated fraud department to help with suspicious account activity.

For written correspondence, you can reach them at:

Bank of America

PO Box 25118

Tampa, FL 33622–5118

Physical Address:

Bank of America Corporation

100 North Tryon Street

Charlotte, NC 28255

Their website is rich with resources, including a comprehensive FAQ section that addresses most user concerns.

Mobile App Experience

The Bank of America mobile app delivers a seamless and intuitive user experience. Users can manage all their accounts, deposit checks, monitor purchases with custom alerts, and interact with Erica® using voice commands. Available on both iOS and Android, the app holds a 4.8-star rating in the App Store and a 4.6-star rating in Google Play, with millions of downloads.

Security

Security is a top priority at Bank of America. All accounts are FDIC-insured up to $250,000. The website uses SSL encryption and the app supports biometric logins. The bank conducts proactive fraud monitoring and allows you to lock your card at any time. To report fraudulent activity, call their dedicated fraud line at 800-432-1000.

Application Process

Opening an account is straightforward. You'll need your name, date of birth, Social Security number, phone number, email, and U.S. address. If you're under 16, a co-applicant over 18 is required. You may also be asked to provide a government-issued photo ID.

To apply:

1. Visit the Bank of America website or download the mobile app.
2. Choose your preferred Advantage Banking account.
3. Fill out your personal and funding details.
4. Set up direct deposit to potentially waive monthly fees or qualify for offers.

Summary

Bank of America Advantage Banking accounts blend strong digital tools with expansive physical access. You can choose from three flexible options depending on your banking needs. Each account offers robust features, mobile convenience, and rewards opportunities. While monthly maintenance fees apply, you can avoid them through qualifying activities or Preferred Rewards® status.

Disclaimer

AI was used in the creation of this content, along with human validation and proofreading.