You can downgrade by calling Bank of America or visiting a branch, and the process takes a few minutes

Bank of America lets you switch to a lower-tier checking account at any time without penalty. You call 1-800-432-1000, go to a branch in person, or use the mobile app to request the change. The bank will close your current account and open a new one with the features and fees of the account you chose. No early termination fee applies, and you keep your routing number and account number in most cases — though you should confirm this with the representative handling your downgrade.

The main reason to downgrade is to lower your monthly maintenance fee. Bank of America's checking tiers range from accounts with no monthly fee to accounts that charge $12 or $15 per month. If you no longer meet the balance or deposit requirements that waive the fee on your current account, downgrading saves you money each month.

Key Takeaways

  • Bank of America charges no fee to downgrade, and the process takes a few minutes by phone, app, or branch visit.
  • Your current account closes and a new account opens; confirm whether your account and routing numbers stay the same.
  • Downgrading makes sense if you can no longer meet the balance or deposit threshold that waives your monthly fee.
  • Some accounts offer perks like ATM fee refunds or higher interest rates; losing these is the trade-off for a lower fee.

Which Bank of America checking accounts you can downgrade to

Bank of America offers three main checking tiers. The Core Checking account has no monthly maintenance fee and no minimum balance requirement. It comes with a debit card, online and mobile banking, and access to Bank of America's ATM network. You do not earn interest on the balance.

The Advantage Banking account costs $12 per month unless you maintain a $1,500 minimum daily balance or set up a direct deposit of at least $250 per month. It includes the same core features as Core Checking plus a higher ATM fee refund limit and slightly better customer service options.

The Premium Rewards Checking account costs $20 per month unless you maintain a $10,000 minimum daily balance or have a linked Bank of America investment account. It offers higher ATM fee refunds, cash back on debit card purchases, and other perks tied to Bank of America's rewards program.

If you currently hold Advantage or Premium Rewards and no longer want to pay the fee, Core Checking is the standard downgrade choice. If you hold a specialty account — such as a student checking account or a checking account linked to a specific product — the downgrade options may differ.

How to downgrade by phone

Call Bank of America's customer service line at 1-800-432-1000. Have your account number and a form of ID ready. Tell the representative you want to downgrade to a lower-tier checking account and specify which one. They will confirm the features you are losing, process the change, and give you a confirmation number.

The call usually takes 5 to 10 minutes. Ask the representative whether your account number and routing number remain the same after the downgrade. Some downgrades preserve both; others may issue a new account number. If you have automatic payments or direct deposits linked to your current account, knowing this before you hang up prevents delays.

How to downgrade in the mobile app or online

Open the Bank of America mobile app or log into your online banking account. Navigate to your checking account details and look for an option labeled "Change Account Type," "Manage Account," or "Account Settings." Select the account you want to downgrade to and confirm the change. The app will show you a summary of the new account's features and fees before you submit.

Downgrades through the app or website usually take effect immediately, though it may take one business day for the new account number to appear in your records. If you do not see the option in your app, call customer service — some account types or situations require a phone call to complete the downgrade.

What happens to your money and automatic payments

Your existing balance transfers to the new account automatically. You do not need to move money yourself. However, any automatic payments, direct deposits, or recurring transfers linked to your old account may be interrupted during the switch. Bank of America typically updates these connections within one business day, but you should verify this with the representative.

If you have a large number of automatic payments set up, consider downgrading on a day when no payments are scheduled — typically mid-month rather than near the beginning or end. This reduces the risk of a payment failing because the system has not yet updated your new account information.

Fees and features you lose when you downgrade

Downgrading from Advantage or Premium Rewards to Core Checking means losing perks that came with the higher tier. These typically include higher ATM fee refunds, priority customer service, and cash back on debit card purchases. You also lose any interest earned on your balance, though Bank of America's checking accounts earn minimal interest regardless of tier.

Review your current account's benefits before you downgrade. If you use the ATM fee refund or cash back feature regularly, the $12 or $20 monthly fee may cost less than the value you receive. If you rarely use these perks and simply want to avoid the fee, downgrading is the right move.

When to downgrade instead of closing the account

Downgrading is better than closing your account if you want to keep your banking relationship with Bank of America but reduce your costs. Closing the account and reopening it later can affect your banking history and may trigger a new hard inquiry on your credit report, though Bank of America does not always run a credit check for checking accounts.

Downgrading also preserves your account history, which can matter if you apply for a Bank of America credit card or loan later. Lenders sometimes review how long you have banked with an institution and how you have managed your accounts. A downgrade does not interrupt this history the way a closure and reopening would.

Frequently Asked Questions

Will downgrading hurt my credit score?

No. Downgrading a checking account does not appear on your credit report and does not affect your credit score. Bank of America may not run a credit inquiry at all for a downgrade, and even if it does, a hard inquiry from a bank you already have a relationship with has minimal impact.

Can I downgrade and then upgrade again later?

Yes. You can upgrade back to a higher-tier account at any time without penalty. If you downgrade to Core Checking and later decide you want the perks of Advantage Banking, call customer service or use the app to switch back. There is no limit on how many times you can change account types.

What if I have a linked savings account or credit card?

Downgrading your checking account does not affect linked savings accounts or credit cards. They remain open and active. However, if your linked accounts are part of a package deal that requires a specific checking tier, downgrading may change the terms of those accounts. Ask the representative about this before you downgrade.

Do I need to order a new debit card when I downgrade?

Usually not. Your existing debit card typically continues to work after a downgrade because it is tied to your account number, which usually stays the same. If your account number does change, Bank of America will send you a new card automatically. Confirm this with the representative during your downgrade call.

How long does the downgrade take to show up in my account?

The change is usually effective immediately if you downgrade by phone or in a branch. If you use the app, it may take up to one business day for the new account type to appear in your records. Your monthly fee will reflect the new account type on your next statement cycle.