To waive the $25 charge, account holders must keep a combined minimum balance of $20,000 across all their eligible Bank of America accounts. Non-sufficient funds (NSF) fees still apply if transactions are attempted without adequate funds, and these are typically $35 per occurrence.
Understanding Bank Of America Advantage Plus Monthly Fee And Waiver Options
A thorough review of your monthly banking activity is the most reliable method to assess if this premium service aligns with your financial objectives. ATM and Transaction Fees One of the key value propositions of the Advantage Plus account is the extensive ATM network access.
Evaluating the Overall Value Determining whether the Bank of America Advantage Plus Banking fees justify the benefits hinges on individual usage patterns. By setting up a recurring qualifying direct deposit of at least $25 per month, the monthly fee is completely waived.
Understanding the Bank Of America Advantage Plus Monthly Fee Structure
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. Conversely, those with irregular income or low balances might find the monthly fee burdensome without the strategic use of the direct deposit waiver.
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