What Bank of America requires to keep your checking account open

Bank of America does not require a minimum balance to open most of its checking accounts. However, some accounts charge a monthly fee unless you maintain a specific balance or meet other conditions. The eChecking account has no minimum balance requirement and no monthly maintenance fee. The Advantage Plus checking account charges $12 per month unless you keep a $1,500 minimum daily balance or meet one of several other requirements, such as setting up direct deposit or maintaining a linked savings account with $5,000.

Which account you have determines what you actually need to keep on hand. If you opened an Advantage Plus account and want to avoid the fee, you have multiple paths—you do not have to choose the minimum balance route. If you have eChecking, there is no balance requirement at all, and the account stays open with zero dollars if needed.

Key Takeaways

  • eChecking has no minimum balance requirement and no monthly fee, making it the lowest-barrier option.
  • Advantage Plus charges $12 monthly unless you maintain $1,500 in daily balance, set up direct deposit, or link a $5,000 savings account.
  • The specific minimum depends on which checking account product you hold, so check your account documents or call Bank of America to confirm which one you have.
  • You can switch accounts at any time if your current account's requirements no longer fit your situation.

How Bank of America calculates your daily balance

When Bank of America states a minimum balance requirement, they mean the amount you must have in the account on a daily basis, not an average across the month. If your Advantage Plus account requires $1,500, you need that full amount present every single day. A day when your balance dips to $1,499 counts as not meeting the requirement, and the $12 fee will post.

The bank calculates your daily balance based on the ledger balance—the amount shown in your account at the end of each business day, after all posted transactions. Pending transactions do not count toward the minimum. This means a deposit you made online that has not yet posted will not protect you from the fee if your ledger balance falls short.

Accounts with no minimum balance requirement

eChecking is Bank of America's account with zero strings attached. It has no minimum balance, no monthly fee, and no income requirements. You get a debit card, online banking, and the ability to write checks. The tradeoff is that eChecking does not earn interest on your balance, but most checking accounts do not.

If you are currently in an Advantage Plus account and the $1,500 minimum feels out of reach, switching to eChecking is straightforward. You can do this online, by phone, or in a branch. Your existing checks, debit card, and account number remain the same in most cases, though the bank may issue a new card with a different number.

Ways to avoid the Advantage Plus monthly fee without keeping $1,500

If you prefer the Advantage Plus account but cannot maintain the $1,500 daily balance, Bank of America offers several alternatives to waive the $12 monthly fee. Setting up direct deposit of your paycheck counts as one may have access to condition. You do not need a specific amount—even a small recurring direct deposit will do.

Linking a savings account with a $5,000 minimum balance is another path. This balance sits in savings, not checking, so your checking account can stay lower. Some customers also meet the requirement by maintaining a linked money market account or by having a mortgage or investment account with the bank. The full list of fee-waiver conditions appears in your account agreement or on the Bank of America website under your specific account type.

What happens if you fall below the minimum

If your Advantage Plus account balance drops below $1,500 and you have not met any of the alternative fee-waiver conditions, the $12 monthly maintenance fee posts automatically. This fee appears as a debit on your statement, usually on the first business day of the month. The fee itself can push your balance even lower, which may trigger overdraft fees if you do not have enough to cover it.

The fee is not a one-time penalty—it recurs every month you remain below the minimum and do not meet the other conditions. If you notice the fee has posted, you can call Bank of America and ask them to reverse it once, though they are not required to do so. The better move is to switch to eChecking or meet one of the fee-waiver conditions going forward.

Minimum balance requirements for linked savings accounts

If you use a linked savings account to waive your checking fee, that savings account itself may have its own minimum balance requirement. Bank of America's regular savings account has no minimum to open, but some savings products, such as money market accounts, do carry minimums. Check the terms of whichever savings product you link to make sure you can meet both balances.

The $5,000 minimum for a linked savings account is separate from any checking account balance you maintain. You can have $100 in checking and $5,000 in savings, and the checking fee will still be waived. However, if you withdraw from savings and drop below $5,000, the checking fee waiver stops working, and the $12 charge will begin again the following month.

How to check your account type and current balance

Log into your Bank of America online account or mobile app to see your current balance and account type. Your account type appears in the account details section, usually labeled "Account Information" or "Account Details." If you are unsure which account you have, call Bank of America at the number on the back of your debit card and ask a representative to confirm.

Your monthly statement also shows your account type and any fees charged. If you see a $12 monthly maintenance fee on your statement, you are in an account with a minimum balance requirement that you did not meet that month. Review the statement to see whether you fell short of the balance or missed one of the fee-waiver conditions.

Frequently Asked Questions

Can I have a Bank of America checking account with zero balance?

Yes, with eChecking. The account stays open and active with no balance at all and no monthly fee. Other accounts like Advantage Plus require either a minimum balance or a fee-waiver condition to avoid charges.

Does a pending deposit count toward my minimum balance?

No. Bank of America calculates your minimum balance based on posted transactions only. A deposit that is still pending does not count, even if you know it is coming. Only the ledger balance—what has actually posted—matters for the minimum.

What if I cannot afford to keep $1,500 in my checking account?

Switch to eChecking, which has no minimum and no fee. Or stay in Advantage Plus and meet one of the fee-waiver conditions instead: set up direct deposit, link a $5,000 savings account, or maintain a may have access to investment or mortgage account with the bank.

Does the $12 fee post every month if I do not meet the minimum?

Yes. The fee recurs monthly as long as your balance stays below the minimum and you do not meet an alternative fee-waiver condition. It is not a one-time charge. Switching accounts or meeting a waiver condition stops the fee from posting.

Can Bank of America reverse a minimum balance fee?

They may reverse it once if you call and ask, but they are not required to. The better approach is to prevent future fees by switching to eChecking or setting up a fee-waiver condition like direct deposit.