Bank of America charges a monthly maintenance fee on most checking accounts unless you meet one of their account requirements

Bank of America's standard checking account (called SafePass or similar depending on your region) carries a monthly maintenance fee of $12, though this varies slightly by account type. You do not have to pay it. The bank waives the fee if you meet at least one of these conditions: keep a minimum daily balance, set up direct deposit, maintain a linked savings account with a certain balance, or use their debit card a set number of times per month.

The easiest routes are direct deposit and minimum balance, because they require no ongoing action once set up. If neither works for your situation, the debit card requirement (usually 10 transactions per month) is the next most practical option. Some people find it simpler to switch to a different bank entirely if none of these fit their circumstances.

Key Takeaways

  • Bank of America waives the $12 monthly maintenance fee on most checking accounts if you maintain a minimum daily balance, usually $500 to $1,500 depending on account type.
  • Setting up direct deposit of any amount—even a small recurring transfer from another account—waives the fee on most account types.
  • Using your debit card for 10 or more transactions per month (purchases, ATM withdrawals, or transfers) also qualifies you for a fee waiver on certain accounts.
  • Linking a savings account with a minimum balance to your checking account can waive the fee, though this ties up money in savings.
  • If you cannot meet any of these requirements, moving to a bank with no monthly maintenance fees may cost less than paying $144 per year.

Direct deposit is the most reliable way to waive the fee

Direct deposit means your employer (or another source, like Social Security or a pension) deposits money straight into your account. Bank of America waives the maintenance fee on most checking accounts if you set up at least one direct deposit per month, regardless of the amount. You do not need a large paycheck—even a $1 transfer counts, though most employers do not allow deposits that small.

To set up direct deposit, ask your employer's payroll department for the bank routing number and your account number. You can find both on a check or by logging into your Bank of America account online. Once your employer has this information, deposits usually begin within one to two pay cycles. The fee waiver takes effect the month after your first deposit posts.

If you do not have an employer, you can create a direct deposit from another account you own. Some people transfer money from a savings account or a side gig payment app to their checking account on a regular schedule. This counts as direct deposit for fee-waiver purposes at most banks, though you should confirm with Bank of America before relying on it.

Maintaining a minimum daily balance avoids the fee without ongoing action

Bank of America waives the maintenance fee if your account balance stays above a certain threshold every day of the month. The minimum varies by account type: standard checking accounts typically require $500 to $1,500 in daily balance. If your balance dips below that threshold even once, you may owe the fee for that month.

The advantage of this method is that it requires no recurring action—you simply keep the money in the account. The disadvantage is that it ties up cash that you might otherwise invest or use elsewhere. If you have $1,500 sitting in a checking account earning little to no interest, you are effectively paying the bank to hold your money. Calculate whether the $12 monthly fee ($144 per year) is worth more or less than the interest you could earn elsewhere.

Check your account type online or call Bank of America at 1-800-432-1000 to confirm the exact minimum balance required for your specific account. The requirement can change, and different account tiers have different thresholds.

Using your debit card regularly can waive the fee on some accounts

Some Bank of America checking accounts waive the maintenance fee if you use the debit card for a minimum number of transactions per month—typically 10. These transactions include purchases at stores, online payments, ATM withdrawals, and transfers. Each swipe or PIN entry counts as one transaction.

This method works well if you already use your debit card frequently. However, if you normally pay with credit cards or cash, deliberately making 10 debit card transactions per month just to avoid a $12 fee is inefficient. You would be changing your spending behavior to save money, which defeats the purpose.

Not all Bank of America checking accounts offer this waiver option. Verify whether your specific account type includes it by logging into your account online, calling customer service, or visiting a branch. If your account does not offer this option, the other methods (direct deposit or minimum balance) are your best routes.

Linking a savings account with a minimum balance works but ties up money

Bank of America waives the checking account maintenance fee on some accounts if you link a savings account and maintain a minimum balance in savings—often $300 to $500. This method works, but it requires you to keep money in a savings account that typically earns very little interest (often less than 0.01% annually).

The math is straightforward: if you keep $500 in savings to avoid a $12 monthly fee, you are paying $144 per year to hold that money. A high-yield savings account elsewhere might earn $2 to $3 per year on $500, which still does not offset the fee. This option makes sense only if you were planning to keep that money in savings anyway.

If you choose this route, confirm the exact minimum balance required for your account type and check whether the savings account itself carries a monthly fee. Some Bank of America savings accounts have their own maintenance fees, which would add to your total cost.

Switching to a different bank may be cheaper than paying the fee

If you cannot or do not want to meet any of Bank of America's fee-waiver requirements, moving to a bank with no monthly maintenance fees is a practical option. Many online banks and credit unions offer free checking accounts with no minimum balance, no direct deposit requirement, and no transaction minimums. Examples include Ally Bank, Charles Schwab Bank, and many local credit unions, though you should research options in your area.

Switching involves a few steps: opening a new account, updating your direct deposit information with your employer, and redirecting automatic payments. Most banks can help you transfer money from your old account. The process usually takes one to two weeks. If you have written checks outstanding, keep the old account open until they clear, then close it.

Calculate the total cost of staying with Bank of America ($144 per year in fees if you pay them, or the opportunity cost of maintaining a minimum balance or changing your spending habits) against the effort of switching. For many people, especially those who do not use Bank of America's other services, switching is worth it.

What to do if you have already paid the maintenance fee

If you have been charged the maintenance fee and did not realize it was avoidable, you can contact Bank of America and ask for a refund. Call 1-800-432-1000 or visit a branch in person. Explain that you were not aware of the fee-waiver options, and ask whether they will reverse one or more months of charges.

Bank of America does not have a formal policy on refunding maintenance fees, so the outcome depends on your account history and how you ask. Customers with long account histories and no previous complaints have better luck than those with new accounts. If the representative declines, ask to speak with a supervisor. Being polite and specific about which fee-waiver option you now plan to use (direct deposit, minimum balance, etc.) increases your chances.

Going forward, set up one of the fee-waiver methods immediately so you do not face the charge again. If you set up direct deposit or confirm your minimum balance, the fee should not appear on your next statement.

Frequently Asked Questions

Does Bank of America charge the maintenance fee on savings accounts?

Bank of America savings accounts also carry monthly maintenance fees (typically $5 to $8), and they have their own fee-waiver requirements. Most require a minimum daily balance of $300 to $500. Check your specific savings account type online or call customer service to confirm the exact requirement and whether you are currently meeting it.

If I set up direct deposit, when does the fee waiver start?

The fee waiver typically takes effect the month after your first direct deposit posts to the account. If your first deposit arrives on March 15, you should not see the maintenance fee charged in April. Confirm the timing with Bank of America, as it can vary slightly by account type.

Can I use transfers between my own accounts to meet the debit card transaction requirement?

Transfers between your own accounts usually count as transactions for the purpose of meeting the debit card minimum. However, this varies by account type and by how Bank of America categorizes the transaction. Confirm with customer service before relying on transfers alone to meet the 10-transaction requirement.

What happens if my balance drops below the minimum for one day?

If your daily balance falls below the required minimum even once during the month, you typically owe the full maintenance fee for that month. Some accounts allow one dip without penalty, but most do not. If you are relying on the minimum balance method, keep a small buffer above the threshold to avoid accidental fees.

Is it better to switch banks or keep paying the fee?

That depends on whether you use other Bank of America services (like a mortgage, investment account, or credit card) that might justify staying. If checking is your only product with them, switching to a free checking account elsewhere saves $144 per year with no ongoing effort. If you use multiple Bank of America products, the convenience of one bank might outweigh the fee cost.