This includes savings, checking, and certain brokerage holdings, meaning the requirement is not isolated to the Advantage Plus account itself but reflects the overall relationship a customer maintains with the bank. Fee Category Standard Cost Advantage Plus Status Monthly Maintenance $25 Waived with balance or direct deposit Outgoing Domestic Wire $20 Waived Outgoing International Wire $35 Waived ATM Withdrawal Fees $2-$5 Refunded Potential Penalties and Considerations Despite the waivers, it is essential to remain vigilant about other potential charges.
Maximizing Bank Of America Advantage Plus Cost Savings
By setting up a recurring qualifying direct deposit of at least $25 per month, the monthly fee is completely waived. Conversely, those with irregular income or low balances might find the monthly fee burdensome without the strategic use of the direct deposit waiver.
To waive the $25 charge, account holders must keep a combined minimum balance of $20,000 across all their eligible Bank of America accounts. Understanding the Advantage Plus Monthly Fee The primary cost associated with the Bank of America Advantage Plus Banking is the monthly maintenance fee, which is currently set at $25.
Maximizing Savings on Bank Of America Advantage Plus Costs
Unlike basic checking accounts, this premium tier is structured as a subscription-based service, requiring a consistent balance or direct deposit to offset the cost. A thorough review of your monthly banking activity is the most reliable method to assess if this premium service aligns with your financial objectives.
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