Bank of America Check Fees- What You Need to Know About Their Pricing Structure
How Much Does Bank of America Charge for Checks?
Checking accounts are a fundamental aspect of personal finance, and one of the key considerations when choosing a bank is the cost associated with using checks. Bank of America, one of the largest banks in the United States, offers a variety of checking account options, each with its own set of fees and charges. Understanding how much Bank of America charges for checks is crucial for managing your finances effectively.
Bank of America Checking Account Fees
Bank of America offers different types of checking accounts, including the Bank of America Advantage Checking, Advantage Plus Checking, and Advantage Relationship Checking. Each account has its own fee structure for using checks.
Bank of America Advantage Checking
The Bank of America Advantage Checking account is a basic checking account with no monthly maintenance fee if you maintain a minimum balance of $1,500 or have a direct deposit of $500 or more each month. However, if you fail to meet these requirements, a monthly maintenance fee of $12 will be charged. For using checks, Bank of America charges a fee of $0.50 per check. This means that if you write 20 checks in a month, you will be charged $10 for check writing fees.
Bank of America Advantage Plus Checking
The Advantage Plus Checking account offers more benefits than the basic Advantage Checking account, including no monthly maintenance fee if you maintain a minimum balance of $10,000 or have a direct deposit of $1,000 or more each month. The check writing fee remains the same at $0.50 per check, so the overall cost of using checks in this account is similar to the Advantage Checking account.
Bank of America Advantage Relationship Checking
The Advantage Relationship Checking account is designed for customers with higher balances or larger direct deposits. If you maintain a minimum balance of $20,000 or have a direct deposit of $2,000 or more each month, the account is free of monthly maintenance fees. The check writing fee is also $0.50 per check, making the cost of using checks in this account the same as the other two accounts.
Additional Considerations
It’s important to note that Bank of America may offer discounts or waive fees under certain circumstances, such as enrolling in paperless statements or participating in certain loyalty programs. Additionally, if you have a checking account with Bank of America, you may be eligible for a check card that can be used for purchases without incurring check writing fees.
Conclusion
Understanding how much Bank of America charges for checks is essential for managing your checking account effectively. While the fees may vary depending on the type of account you have, the general check writing fee is $0.50 per check. By keeping track of your account balance and taking advantage of any available discounts or fee waivers, you can minimize the costs associated with using checks through Bank of America.