Bank of America checking accounts have no minimum opening deposit
You can open a Bank of America checking account with zero dollars. There is no minimum deposit requirement to start the account — you open it empty and fund it later, or not at all. This applies to their standard checking products: eChecking, Advantage Checking, and Advantage Plus Checking.
What matters instead is what happens after you open it. Bank of America charges a monthly maintenance fee on most checking accounts unless you meet one of their waiver conditions. The fee ranges from $12 to $25 per month depending on the account type, but you can avoid it by keeping a minimum balance, setting up direct deposit, or maintaining linked savings accounts.
The confusion usually comes from mixing up the opening deposit with the monthly fee. You need zero to open. You need something else to avoid paying once the account is active.
Key Takeaways
- Bank of America checking accounts require no money to open — you can start with a zero balance.
- Monthly maintenance fees ($12 to $25) kick in after opening, but you can waive them by keeping a minimum balance, setting up direct deposit, or linking a savings account.
- The minimum balance to waive fees varies by account type: $500 for eChecking, $1,500 for Advantage Checking, and $2,500 for Advantage Plus Checking.
- You can open an account online, by phone, or in a branch — all routes accept zero opening deposits.
How the three main checking accounts differ on fees and minimums
Bank of America offers three primary checking products, and the fee waiver thresholds are different for each. eChecking has a $12 monthly fee but waives it if you keep $500 in the account or set up direct deposit. Advantage Checking costs $15 per month and waives the fee with $1,500 in the account, direct deposit, or a linked Advantage Savings account. Advantage Plus Checking is $25 monthly and requires $2,500 in the account, direct deposit, or linked savings to avoid the charge.
If you cannot meet any of those conditions — no direct deposit, no savings account, and no way to keep a balance — you will pay the monthly fee. Some people choose to pay it rather than maintain a minimum. Others switch to a different bank with no monthly fee at all.
The account you open depends on what you can realistically maintain. If you have $500 and can keep it there, eChecking works. If you have less and no direct deposit, the monthly fee becomes your cost of banking with Bank of America.
What happens if you open with zero and never add money
If you open a checking account and leave it empty with no direct deposit and no linked savings, Bank of America will charge the monthly maintenance fee to the account. When the balance goes negative, the account enters overdraft status. You will owe the bank the fee amount plus overdraft fees if you try to use the card or write a check.
The account does not close automatically, but the debt accumulates. Bank of America may eventually close it if the negative balance persists for several months without activity. At that point, the unpaid fees and any overdraft charges become a debt you owe, and the account closure may be reported to ChexSystems, a banking history database that other banks check before opening new accounts.
The practical answer: do not open an account you cannot fund or maintain. If you need a checking account but cannot meet Bank of America's minimums, look for banks with no monthly fees or lower thresholds.
How to open an account with zero dollars
You can open a Bank of America checking account online at bankofamerica.com, by phone at 1-800-432-1000, or in person at any branch. All three routes accept zero opening deposits. Online is fastest — the process takes about 10 minutes and you can start using a debit card within one to two business days.
You will need a Social Security number, a government-issued ID, and a current address. Bank of America will run a ChexSystems check (a banking history report) and may decline if you have unpaid fees or fraud flags from other banks. If approved, the account opens immediately, even with no deposit.
If you open online, you can link a debit card to your existing account at another bank to transfer money in, or wait until you receive your Bank of America debit card in the mail. You do not have to fund it on day one.
When direct deposit waives the monthly fee
If your employer or a government program (Social Security, unemployment, tax refund) deposits money directly into your Bank of America checking account, the monthly maintenance fee is waived. This applies to all three account types. You need at least one direct deposit per month, and it can be any amount — even $1 counts.
Set up direct deposit through your employer's payroll system or through the government program's website. Once the first deposit hits, the fee waiver takes effect for that month. If direct deposits stop, the fee resumes the following month.
This is the easiest fee waiver if you have a job or receive regular benefits. You do not have to maintain any balance, and the account stays free as long as deposits continue.
Linked savings accounts as an alternative to maintaining a balance
Bank of America waives checking account fees if you link a savings account and keep the combined balance above the threshold. For Advantage Checking, that means $1,500 across both accounts. For Advantage Plus, it is $2,500. eChecking does not have a linked savings option — you either keep $500 in the checking account itself or set up direct deposit.
The advantage of this route is flexibility: you can keep most of your money in savings (which earns interest, though Bank of America's rates are low) and only enough in checking to cover bills. The bank counts both balances together, so you do not have to keep the full amount in the checking account where it sits idle.
If you drop below the combined threshold, the fee kicks in the next month. Bank of America sends a notice when you are close, so you have time to transfer money back if needed.
Overdraft fees and what happens when the account goes negative
If you spend more than you have in your checking account, Bank of America charges an overdraft fee of $35 per transaction (as of the most recent update, though this varies). The fee applies whether you use your debit card, write a check, or set up an automatic payment that exceeds your balance.
You can opt out of overdraft coverage, which means transactions will be declined instead of going through and charging a fee. This prevents debt but can be inconvenient if you miscalculate. Most people keep overdraft on but try to avoid triggering it.
If your account stays negative for 60 days or more, Bank of America may close it and report the unpaid balance to a debt collector. This damages your credit and makes it harder to open accounts at other banks.
Frequently Asked Questions
Can I open a Bank of America checking account with no money and no job?
Yes, you can open the account with zero dollars. However, without direct deposit or a way to maintain a minimum balance, you will pay the monthly fee ($12 to $25). If you cannot afford the fee, Bank of America is not the right choice — look for banks with no monthly fees instead.
What if I open an account and never use it?
The monthly maintenance fee still charges to an inactive account. If the balance is zero, the account goes negative and overdraft fees pile up. After several months of inactivity and negative balance, Bank of America closes the account and reports it to ChexSystems, which affects your ability to open accounts elsewhere.
Do I have to keep the minimum balance in the checking account, or can it be in savings?
For Advantage Checking and Advantage Plus, the minimum can be split between checking and savings as long as both accounts are linked. eChecking requires the $500 to stay in the checking account itself. Direct deposit waives the balance requirement for all three.
How long does it take to open an account online?
Online applications take 10 to 15 minutes. The account opens immediately, and you can use it right away if you link an existing debit card from another bank. Your Bank of America debit card arrives in the mail within one to two business days.
What if Bank of America denies my application?
Bank of America may decline if ChexSystems shows unpaid fees, fraud, or excessive overdrafts at other banks. You can request a copy of your ChexSystems report to see why. If there is an error, you can dispute it. If the denial is correct, try a different bank that does not use ChexSystems or has more lenient policies.