Bank of America offers free online banking to most account holders
Yes, Bank of America provides free online banking access through its website and mobile app to customers with may be able to access accounts. You can check balances, transfer money between your own accounts, pay bills, deposit checks by phone camera, and view transaction history at no charge. The service is included with most checking and savings accounts—you do not pay a separate fee to use it.
What you get free depends on your account type. Basic online features like viewing statements and transferring funds between your own accounts are free for all account holders. Bill pay is also free. Mobile check deposit—taking a photo of a check to deposit it—is free. However, some premium services and features are only available to customers who maintain higher balances or pay for specific account tiers.
Key Takeaways
- Online banking access, bill pay, and mobile check deposit are free with most Bank of America accounts.
- Transferring money to other people or external accounts may have limits or fees depending on your account type.
- Premium features like investment tools and higher transfer limits are available to customers with higher account balances or premium accounts.
- You can access online banking through the website, mobile app, or by calling customer service without paying an extra fee.
What online banking features cost nothing
Bank of America's free online banking includes the core tools most people use regularly. You can log in to check your account balance, review recent transactions, and download statements. Transferring money between your own Bank of America accounts is free and usually happens instantly or within one business day. Setting up and using bill pay to send money to merchants and service providers costs nothing.
Mobile check deposit is free—you photograph the front and back of a check using the mobile app, and the funds typically post within one to two business days. You can also set up direct deposit at no cost, which is how many employers and government agencies send paychecks or benefits. Viewing your credit score through the app is free if your account includes that feature. Account alerts—notifications when your balance drops below a certain amount or when a large transaction occurs—are also free to set up.
Transfers to other banks and people may have limits
Sending money to accounts at other banks or to other people outside Bank of America can be free, but the rules vary by account type. Bank of America allows a certain number of free external transfers per month—typically three to six, depending on your account. Once you exceed that limit in a calendar month, each additional transfer may cost $1 to $3.
Using Zelle, Bank of America's peer-to-peer payment service, is free and has no monthly transfer limit. Zelle moves money between enrolled users instantly or within minutes. If you need to send money frequently to people outside your bank, Zelle is the free option. Wire transfers—which move money to accounts at other banks or internationally—are not free and typically cost $15 to $30 depending on whether the wire is domestic or international.
Premium accounts unlock more features without extra fees
Bank of America offers tiered account levels: Basic, Advantage, and Preferred. All three include free online banking, but higher tiers remove or increase limits on certain features. Advantage and Preferred accounts include more free external transfers per month and higher daily transfer limits. They also come with other perks like higher interest rates on savings, fee waivers for certain services, and access to investment tools.
To may have access to for these higher tiers, you typically need to maintain a minimum balance—often $1,500 to $10,000 depending on the account type. If your balance falls below the minimum, your account may revert to the basic tier, or you may be charged a monthly maintenance fee. Check your specific account terms or log into online banking to see which tier you currently have and what features are available to you.
Accessing online banking on your phone or computer
Bank of America's website and mobile app both offer the same core online banking features at no cost. You can download the app from the Apple App Store or Google Play Store. Log in with your username and password, or use fingerprint or face recognition if your phone supports it. The app works on iPhones, iPads, and Android devices.
On a computer, go to bankofamerica.com and log in the same way. Both the app and website are secure—Bank of America uses encryption and multi-factor authentication to protect your account. If you lose your phone or forget your password, you can call Bank of America's customer service line at 1-800-432-1000 to regain access. Customer service is available 24 hours a day, and calling does not cost extra.
Fees that do apply to online banking
While basic online banking is free, certain transactions and services do carry fees. Overdraft fees apply if you spend more than your available balance—typically $35 per overdraft. Excessive external transfers beyond your monthly limit cost $1 to $3 each. Wire transfers cost $15 to $30. Stopping a payment on a bill you sent costs $30.
If you maintain a low balance and your account type requires a minimum, you may be charged a monthly maintenance fee ranging from $6 to $15. ATM fees apply if you use an out-of-network ATM—usually $2 to $3 per withdrawal, though Bank of America has a large network of in-network ATMs you can use free. International transaction fees apply if you use your debit card abroad. Review your account agreement or log into online banking to see the full fee schedule for your specific account type.
Setting up online banking if you are a new customer
If you just opened a Bank of America account, online banking access is automatic—you do not need to request it or pay to activate it. When you open an account in person at a branch, the banker will give you temporary login credentials. You can also open an account online through bankofamerica.com and set up your username and password immediately.
Your first login may require you to verify your identity by answering security questions or entering a code sent to your phone or email. After that, you can log in anytime to access your account. If you have trouble logging in or do not receive your temporary credentials, call 1-800-432-1000 or visit a local branch. Setting up online banking takes a few minutes and costs nothing.
Frequently Asked Questions
Is there a monthly fee for using Bank of America online banking?
No. Online banking itself is free with most accounts. However, your account may have a monthly maintenance fee if you do not meet the minimum balance requirement for your account tier. That fee is separate from online banking and applies whether you use online banking or not.
Can I pay bills online for free with Bank of America?
Yes. Bill pay is included free with online banking. You can send payments to merchants, utilities, credit card companies, and other service providers at no charge. Payments typically arrive within one to three business days, depending on the payee.
What happens if I transfer money too many times in a month?
Bank of America limits free external transfers (to other banks) to a certain number per month—usually three to six depending on your account type. Each transfer beyond that limit costs $1 to $3. Transfers between your own Bank of America accounts are unlimited and free. Using Zelle to send money to other people is also unlimited and free.
Do I need a minimum balance to use online banking?
No. Online banking access is free regardless of your balance. However, your account type may require a minimum balance to avoid a monthly maintenance fee. If your balance falls below that minimum, you may be charged $6 to $15 per month, but you can still use online banking.
Can I access my Bank of America account on my phone without the app?
Yes. You can log into bankofamerica.com using any web browser on your phone, tablet, or computer. The mobile app offers the same features and is often faster, but the website works just as well if you prefer not to download an app.