Bank of America charges a monthly maintenance fee on most checking accounts, but you can waive it by meeting one simple requirement

Bank of America's monthly maintenance fee is $12 per month on its standard checking account, called the Advantage SafePass account. This fee posts automatically each month unless you meet one of the waiver conditions. The most common way to avoid it is to keep a minimum daily balance of $1,500 in your checking account, or to set up a direct deposit of any amount into that account.

Not all Bank of America accounts charge this fee. If you have an older account opened before the fee structure changed, or if you hold certain account types, you may not owe it. The fee applies only if you fail to meet the waiver requirements each month—it is not a one-time charge.

The fee hits your account on the first business day of each month. If you do not meet a waiver condition by that date, the $12 comes out automatically. Once it posts, you can request a refund from a Bank of America representative, but the bank does not reverse it automatically.

Key Takeaways

  • Bank of America charges $12 per month on Advantage SafePass checking accounts unless you maintain a $1,500 minimum daily balance or receive a direct deposit.
  • The fee posts on the first business day of each month, and you must meet a waiver condition by that date to avoid it.
  • If the fee posts to your account, you can call Bank of America and request a one-time refund, though the bank does not reverse it automatically.
  • Older accounts and certain account types may not carry this fee; check your account agreement or call to confirm what you owe.
  • A direct deposit of any size—even a small transfer from another account—counts as a waiver method and requires no minimum balance.

How the $1,500 minimum balance waiver works

If you keep at least $1,500 in your checking account every single day of the month, the $12 fee does not post. This is a daily balance requirement, not an average—your balance must never drop below $1,500, even for one day. If it falls to $1,499 on any date, you do not meet the waiver and the fee will charge.

The balance is calculated at the end of each business day. Bank of America looks at your lowest balance during the month to determine whether you hit the threshold. If you are close to $1,500, a single debit or pending transaction can push you under and trigger the fee.

This method works best if you keep a steady paycheck or regular income flowing into the account. If your balance fluctuates, the direct deposit waiver is often easier to manage.

How the direct deposit waiver works

Setting up a direct deposit to your Bank of America checking account waives the monthly fee, regardless of how much money you keep in the account. The direct deposit can be any amount—even $1 per month qualifies. You do not need to maintain a minimum balance once direct deposit is active.

Direct deposit means your employer, a government agency, or another institution sends money electronically to your account on a recurring schedule. Social Security, pension payments, tax refunds, and paychecks all count. Even a small recurring transfer from another account you own can work, though Bank of America may verify that it is a true direct deposit and not just a transfer between your own accounts.

Once direct deposit is set up, the waiver applies automatically each month. You do not need to do anything else. If the direct deposit stops or becomes irregular, the fee will resume the following month.

What happens if the fee posts to your account

If you miss the waiver deadline and the $12 fee posts on the first business day of the month, you can contact Bank of America and ask for a refund. Call the number on the back of your debit card or visit a branch in person. The bank may reverse the fee as a one-time courtesy, especially if you have a good account history or if it is your first time incurring it.

There is no may provide the bank will refund it. Some representatives will reverse it without question; others may decline. If you are denied, you can ask to speak to a supervisor or try again at a different time. Requesting a refund does not hurt your account or relationship with the bank.

If the fee posts repeatedly because you keep missing the waiver, the bank may eventually close your account for non-compliance with account terms. This is rare, but it can happen if you ignore multiple months of fees.

Other Bank of America checking accounts and their fees

Bank of America offers several checking account types, and not all charge the same fee. The Advantage Plus checking account also charges $12 per month but has the same waiver options: $1,500 minimum balance or direct deposit. The Advantage Relationship Banking account charges $15 per month and requires either a $2,500 minimum balance or direct deposit to waive it.

The Student Banking account has no monthly maintenance fee for the first four years after opening, then converts to a standard account with fees. The SafePass account (without "Advantage" in the name) also charges $12 monthly with the same waivers.

If you opened an account many years ago, you may have a grandfathered account type that does not charge a monthly fee at all. Check your account agreement or call Bank of America to confirm which account type you hold and what fees apply.

How to set up direct deposit to waive the fee

To set up direct deposit, you need your Bank of America account number and routing number. You can find both on a check or by logging into your online account. Give these numbers to your employer's payroll department or to the organization sending you regular payments (Social Security, pension, etc.).

The organization will set up the transfer on their end. It usually takes one or two pay cycles before the first direct deposit hits your account. Once it does, the fee waiver becomes active immediately.

If you do not have an employer or regular income source, you can sometimes set up a recurring transfer from another account you own at a different bank. However, Bank of America may not count this as a true direct deposit. Call the bank to ask whether your specific transfer method qualifies before relying on it to waive the fee.

Frequently Asked Questions

Can I get the monthly fee waived if I have a savings account with Bank of America?

No. The waiver conditions apply only to the checking account itself. A savings account balance does not count toward the $1,500 minimum, and direct deposit to a savings account does not waive the checking account fee. You must meet the waiver requirement in the checking account specifically.

What if I use my debit card and my balance drops below $1,500 for one day?

The fee will post. Bank of America checks your lowest daily balance each month. If you fall even $1 below $1,500 on any single day, you do not meet the waiver and the $12 charge will appear on your statement.

Does a wire transfer or ACH payment count as direct deposit?

No. Direct deposit is a specific type of recurring electronic transfer, usually from an employer or government agency. One-time transfers, wire transfers, or ACH payments do not count as direct deposit and will not waive the fee.

If I request a refund and the bank says no, can I dispute it?

You can ask to speak to a supervisor or call back and try again, but you cannot file a formal dispute on a monthly maintenance fee the way you would for an unauthorized transaction. The fee is part of your account agreement. Your best option is to meet one of the waiver conditions going forward.

Will closing my Bank of America account hurt my credit?

No. Closing a checking account does not affect your credit score. Credit bureaus do not track checking accounts. However, if the account goes negative and Bank of America sends it to collections, that can damage your credit. Closing the account before that happens avoids that risk.