Bank of America charges a $12 monthly maintenance fee on most checking accounts, but you can waive it by meeting one of three conditions

Bank of America's standard checking account—called the Checking Account—carries a $12 monthly maintenance fee unless you meet at least one waiver requirement. The three ways to avoid the fee are: keep a minimum daily balance of $1,500 in the account, set up a direct deposit of any amount, or maintain a linked savings account with a $500 minimum balance. You do not need to do all three—one is enough.

The direct deposit route is the easiest for most people because it has no balance requirement. If you receive a paycheck, government benefits, or regular transfers from an employer or pension fund through direct deposit, the fee disappears automatically. The balance methods require you to keep money sitting in the account at all times, which costs you if you could otherwise earn interest elsewhere.

Key Takeaways

  • Bank of America's $12 monthly maintenance fee applies to most checking accounts unless you meet one waiver condition.
  • Direct deposit of any amount—paycheck, benefits, or regular transfers—waives the fee with no balance requirement.
  • If you cannot set up direct deposit, you can waive the fee by keeping $1,500 in the checking account or $500 in a linked savings account.
  • The fee posts on the first business day of each month if you do not meet a waiver condition.
  • If you are charged the fee by mistake, you can contact Bank of America to request a reversal within a reasonable timeframe.

How the direct deposit waiver works

Direct deposit is the simplest path because it requires no minimum balance. Any recurring deposit counts: your employer's payroll, Social Security, disability benefits, pension payments, or even regular transfers from another account if they are set up as automatic deposits. Bank of America does not specify a minimum amount, so even a small recurring deposit should trigger the waiver.

The catch is that the deposit must be recurring and set up through the ACH system (the automated clearing house that handles payroll and benefits). A one-time transfer from another bank account does not count. Once direct deposit is active, the fee waiver takes effect the following month. If you already have direct deposit but the fee still posted, contact Bank of America to confirm the deposit is linked to your account correctly.

Meeting the balance requirements instead

If direct deposit is not an option, you can waive the fee by keeping money in the account. The checking account itself requires a $1,500 minimum daily balance—meaning the balance must stay at or above $1,500 every single day of the month. If it drops below $1,500 even once, the fee posts at the end of the month.

Alternatively, you can link a savings account to your checking account and keep $500 in the savings account. This is often easier than maintaining $1,500 in checking because you can move money between the two accounts freely and the savings account balance is what matters for the waiver. However, Bank of America's savings accounts also carry monthly fees ($5 for the regular savings account) unless you meet their own waiver conditions, so this route only saves money if you were planning to have a savings account anyway.

Which account type you have matters

Bank of America offers several checking account products, and the maintenance fee and waiver conditions vary. The standard Checking Account has the $12 fee and the three waivers described above. The Premium Rewards Checking account has a $25 monthly maintenance fee but offers cash back on debit card purchases; it waives the fee with $25,000 in combined balances across Bank of America accounts or with a $5,000 minimum in the checking account itself.

If you are under 25 years old, the Student Checking Account has no monthly maintenance fee at all, though it does expire when you turn 25. Customers aged 65 and older may be offered the Senior Checking Account, which also has no monthly fee. Check your account statements or log into your Bank of America account online to confirm which product you hold.

What happens if the fee posts to your account

The $12 maintenance fee posts on the first business day of each month if you did not meet a waiver condition during the previous month. Once it posts, it is deducted from your balance immediately. If the fee causes your balance to drop below zero, you may also be charged an overdraft fee, which compounds the problem.

If you were charged the fee in error—for example, you had direct deposit set up but it did not register—contact Bank of America within 30 to 60 days and ask for a reversal. Bank of America will review your account activity and may reverse one or two months of fees if you can show you met the waiver conditions. Do not wait months to dispute it; the longer you wait, the less likely they are to reverse it.

Switching accounts or banks if fees are unavoidable

If you cannot meet any of the waiver conditions and the $12 monthly fee is a burden, you have other options. Many online banks and credit unions offer checking accounts with no monthly maintenance fees and no minimum balance requirements. These include Ally Bank, Charles Schwab, Discover Bank, and most local credit unions.

If you want to stay with Bank of America but reduce fees, you could also close the checking account and use only a savings account for everyday transactions, though this limits your access to debit cards and check-writing. Before switching, confirm that your direct deposit source (employer, benefits agency) can send payments to a new account, and update any automatic bill payments you have set up.

Frequently Asked Questions

Does the direct deposit have to come from my employer?

No. Any recurring ACH deposit counts: Social Security, disability benefits, pension payments, or regular transfers from another account. The amount does not matter—even $1 per month should trigger the waiver. The deposit must be set up as automatic and recurring, not a one-time transfer.

What if my balance drops below $1,500 for one day?

The fee will post at the end of the month. Bank of America checks the daily balance throughout the month, and if it falls below $1,500 even once, you do not meet the waiver condition. The $1,500 must be maintained every single day.

Can I move money between my checking and savings account to meet the balance requirement?

Yes. If you are using the linked savings account waiver ($500 minimum in savings), you can move money freely between checking and savings. Only the savings account balance matters for the waiver. However, the savings account itself may have a monthly fee unless you meet its own waiver conditions.

How long does it take for direct deposit to waive the fee?

Once direct deposit is set up and the first deposit posts to your account, the fee waiver takes effect the following month. If you set up direct deposit mid-month, the fee may still post that month, but it should not post the next month.

Can Bank of America reverse a maintenance fee I was already charged?

Yes, if you contact them within 30 to 60 days and can show you met a waiver condition. Bank of America may reverse one or two months of fees as a courtesy. The sooner you dispute it, the better your chances. After several months, reversals become unlikely.