Bank of America offers free checking, but the account you get depends on how you bank

Bank of America has multiple checking accounts, and some carry no monthly fee. The eChecking account is genuinely free—no minimum balance, no direct deposit required, no monthly maintenance charge. The Advantage SafePass Checking account is also free if you meet one condition: you must enroll in paperless statements (eStatements). If you do not turn on eStatements, Advantage SafePass costs $12 per month.

The catch is that "free" does not mean "no costs at all." Both accounts charge fees for things like overdrafts, out-of-network ATM use, wire transfers, and stop payments. The monthly fee is what is waived, not every possible charge. If you use Bank of America's ATM network and keep your balance positive, the monthly cost stays at zero.

Bank of America also offers Advantage Plus Checking, which costs $15 per month but waives overdraft fees if you maintain a $1,500 minimum balance or set up direct deposit. This account is not free, so most people should start with eChecking or Advantage SafePass instead.

Key Takeaways

  • eChecking has no monthly fee, no minimum balance, and no enrollment requirements—it is the simplest free option.
  • Advantage SafePass Checking is free only if you turn on paperless statements; without eStatements, you pay $12 per month.
  • Both free accounts charge fees for overdrafts, out-of-network ATM withdrawals, wire transfers, and other services beyond basic checking.
  • If you overdraft frequently, Advantage Plus Checking ($15/month) may cost less than overdraft fees on a free account, but only if you can maintain the $1,500 minimum balance.

What eChecking includes and what it does not

eChecking is Bank of America's no-strings checking account. You get a debit card, online banking, mobile app access, check writing, and the ability to link external accounts for transfers. There is no monthly maintenance fee, no minimum opening deposit, and no minimum balance to maintain. You can close the account anytime without penalty.

What you do not get: overdraft protection (unless you link a savings account), rewards or cash back on debit card purchases, and waived fees for services like wire transfers or stop payments. An overdraft on eChecking costs $35 per transaction if you do not have a linked savings account to cover it. Out-of-network ATM withdrawals cost $2.50 per transaction at Bank of America ATMs; other banks' ATMs may charge their own fee on top of that.

eChecking works best if you keep a positive balance, use Bank of America's ATM network, and do not need overdraft protection. If you frequently overdraft or need fee waivers, compare it to Advantage Plus before deciding.

Advantage SafePass Checking and the eStatements requirement

Advantage SafePass Checking is free, but only if you enroll in eStatements—paperless monthly statements delivered to your email instead of by mail. If you do not turn on eStatements, the account costs $12 per month. This is not a hidden fee; Bank of America discloses it upfront, but many people miss it during signup.

Advantage SafePass includes the same basics as eChecking: debit card, online banking, check writing, and mobile app access. It also includes SafePass protection, which is Bank of America's fraud monitoring service. If your card is used fraudulently, you report it through the app or phone, and Bank of America investigates. You are not liable for unauthorized charges if you report them within 60 days.

The trade-off: Advantage SafePass still charges $35 per overdraft and $2.50 for out-of-network ATM use, just like eChecking. The main difference is the fraud monitoring, which eChecking does not emphasize as a named feature (though Bank of America does protect both accounts against fraud under federal law). If fraud protection matters to you and you are willing to use eStatements, Advantage SafePass is worth the setup. If you want the simplest free account with no conditions, eChecking is the better choice.

When a paid checking account costs less than a free one

Advantage Plus Checking costs $15 per month, but it waives overdraft fees if you maintain a $1,500 minimum balance or receive direct deposit. If you overdraft more than once a month on average, the $15 fee may be cheaper than paying $35 per overdraft on a free account.

Example: If you overdraft twice a month on eChecking, you pay $70 in overdraft fees. Advantage Plus at $15 per month costs $180 per year—less than the $840 you would pay in overdraft fees over a year. But this math only works if you can keep $1,500 in the account at all times. If you cannot maintain that balance and do not have direct deposit, Advantage Plus costs $15 per month with no overdraft waiver, making it more expensive than eChecking.

Advantage Plus also waives out-of-network ATM fees if you maintain the $1,500 balance, which can add up if you travel or live far from a Bank of America branch. Run the numbers based on your actual overdraft and ATM use before switching from a free account.

How to open a free checking account at Bank of America

You can open eChecking or Advantage SafePass online through Bank of America's website, in a branch, or by phone. Online is fastest: go to bankofamerica.com, select "Open an Account," choose the account type, and follow the prompts. You will need your Social Security number, a government-issued ID, and an initial deposit (usually $25 or more, though some promotions waive this).

If you open online, your account is typically active within one business day. You can use mobile banking and transfers immediately, but your debit card arrives by mail in 7 to 10 business days. If you need a card faster, open in a branch and request expedited shipping.

If you already have a Bank of America account, you can add a second checking account online without visiting a branch. Log into your existing account, go to "Accounts," select "Open an Account," and choose the type. The new account links to your existing login automatically.

Fees that apply to both free checking accounts

Bank of America charges the same fees on eChecking and Advantage SafePass for most services. An overdraft costs $35 per transaction (up to three per day). A returned deposit or check costs $15. A wire transfer costs $15 domestic, $45 international. A stop payment on a check costs $30. These fees are the same whether your account is free or paid.

Out-of-network ATM use costs $2.50 at Bank of America machines; other banks' ATMs may add their own fee. If you use a Bank of America ATM, there is no charge. Bank of America has over 16,000 ATMs nationwide, so most people can avoid this fee by planning ahead.

Account closure has no fee. If you close within 90 days of opening, Bank of America may flag it as suspicious activity, but you will not be charged. Closing an account does not affect your credit score.

Comparing Bank of America free checking to other banks

Other banks offer free checking with different trade-offs. Chase Total Checking is free with no minimum balance but charges $35 per overdraft, the same as Bank of America. Wells Fargo Everyday Checking is free but also charges $35 per overdraft. Ally Bank offers free checking with no overdraft fees at all—if you overdraft, Ally declines the transaction instead of charging a fee, which protects you from spiraling debt but means your payment may fail.

Credit unions often offer free checking with lower overdraft fees or no overdraft fees, but you must be a member. Membership usually requires living or working in a specific area or belonging to a may have access to group. Online banks like Ally, Charles Schwab, and Discover offer free checking with no monthly fees and often no overdraft fees, but they have fewer physical branches and ATMs.

If you value in-person banking and a large ATM network, Bank of America's free checking is competitive. If you want to avoid overdraft fees entirely, an online bank or credit union may be a better fit. If you overdraft frequently, compare the overdraft fees you would pay on a free account to the monthly fee on a paid account at any bank.

Frequently Asked Questions

Do I have to keep a minimum balance in eChecking?

No. eChecking has no minimum balance requirement. You can open it with $25, spend it all, and keep a zero balance without being charged a monthly fee. However, if you overdraft (spend more than you have), you will be charged $35 per transaction.

What happens if I forget to turn on eStatements for Advantage SafePass?

Bank of America will charge you $12 per month. You can turn on eStatements anytime to stop the fee. If you have already been charged, contact Bank of America to request a refund for the months you did not have eStatements enabled; they sometimes grant one-time reversals.

Can I link my Bank of America checking account to a savings account to cover overdrafts?

Yes. If you have a Bank of America savings account, you can link it to your checking account for overdraft protection. If you overdraft, Bank of America transfers money from savings to cover it, usually charging $10 per transfer instead of $35. This only works if your savings account has enough money.

Is Bank of America's fraud protection the same on both free accounts?

Both eChecking and Advantage SafePass are protected against fraud under federal law (Regulation E). You are not liable for unauthorized charges if you report them within 60 days. Advantage SafePass emphasizes SafePass monitoring, but both accounts offer the same legal protection.

Can I switch from eChecking to Advantage SafePass later?

Yes. Log into your Bank of America account online, go to "Accounts," and request an account type change. The switch is usually instant and does not close your old account or affect your account number. You can also call a Bank of America representative to make the change.