The Best Bank of America Checking Accounts [2025]: Big Perks for Big Balances

If you want a traditional checking account, Bank of America could be a good option. Bank of America is the second-largest bank in the country, and it serves over 69 million consumers and small businesses. With thousands of branches, a nationwide ATM network, and multiple checking accounts to choose from, Bank of America has options for people at every stage of their financial journey.

We researched available accounts and identified the best Bank of America checking accounts based on their fees, deposit requirements, and added benefits, all of which fall under the Bank of America Advantage Banking umbrella.

Whether you're a parent looking to open an account on behalf of a child or a recent college graduate opening your first checking account, here's what you need to know.

What to look for in a Bank of America checking account

When looking for a checking account, you need to balance affordability with convenience and functionality. Bank of America's accounts do have monthly fees, but customers may qualify for fee waivers if they meet certain requirements.

Plus, the fee can be worthwhile if a Bank of America checking account gives you what you need for making payments, managing your finances, or accepting electronic transfers.

It's also a good idea to consider how your checking account fits within the Bank of America Preferred Rewards program.

Customers with substantial amounts of cash in Bank of America banking products and Merrill investment accounts can qualify for special benefits and perks, so the accounts could help you save money over time.

Bank of America Advantage Banking

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Bank of America Advantage Banking Benefits

• Up to $500 cash offer. Click 'Learn More' for more details
• Multiple ways to waive the monthly maintenance fee
• Thousands of ATMs and financial centers
• 24/7 security with Total Security Protection® and fraud monitoring
• Bank of America, N.A. Member FDIC

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Bank of America Advantage Plus Banking®

If you prefer to handle your banking tasks online, the Advantage Plus checking account could be a good option.

While it comes with paper checks, it also allows account holders to complete transactions with a digital wallet, Zelle, or a debit card. A minor can open the account if it's co-owned with an adult; children under the age of 13 can open an account at a Bank of America financial center.

Although the account does have a higher minimum deposit and a monthly maintenance fee of $12, it does have fee waivers. You can qualify for a fee waiver by meeting one of these requirements.

• Maintain a daily balance of $1,500 or more in your account
• Receive qualifying direct deposits of at least $250 each statement period
• Qualify for the Preferred Rewards program

Bank of America Advantage Relationship Banking®

If you're more financially established and already have a Bank of America account — or if you want to make Bank of America your primary bank going forward — the Advantage Relationship checking account could be useful.

It's the only interest-bearing checking option Bank of America offers, so your money in this account can grow over time.

Accountholders can benefit from other perks like $0 fees on select banking services (including stop payment requests, outgoing wires sent in foreign currency, and incoming domestic wires). And when you link your other Bank of America accounts, the bank will waive the monthly fees on up to seven accounts.

The Advantage Relationship account does have a higher minimum opening balance requirement and has the highest monthly fee of any of Bank of America's options.

And while it's possible to qualify for a fee waiver, the requirements are strict. You need to maintain a minimum daily balance of $20,000 or more in your account or be a qualifying member of Bank of America's Preferred Rewards program to get the fee waived.

Bank of America Advantage SafeBalance Banking®

For high school students, college students, and young adults, the Advantage SafeBalance checking account can be a smart choice for a first checking account. It has a low minimum deposit requirement and a low monthly fee. Plus, customers under the age of 25 qualify for fee waivers.

However, this account doesn't have paper checks³ <p class="">No paper check writing with this account. Pay options include a debit card, Mobile, or Online banking.<br></p> ; it only has a digital wallet, debit card, and Zelle. While that might not seem like a problem to your average digital native, if you have a landlord or utility company that requires checks, that restriction can be a major inconvenience.

There are no parental control options, so parents can't set withdrawal limits or set up spending alerts, making the account not so ideal for younger teens and students who may require a little more oversight as they learn to manage money.

Bank of America Advantage SafeBalance Banking® for Family Banking

The SafeBalance Banking for Family account is best for parents of children or teens. It has a low minimum deposit to open the account, and if you're opening it on behalf of someone under the age of 25, your account can qualify for a fee waiver.

The account has parental control options, so parents can set up custom spending alerts or withdrawal limits. Children can use an optional debit card and online banking login if you want your kids to get a little experience more actively engaging with their finances.

However, the account doesn't support paper checks, nor does it offer Zelle payments, which may be limiting. And customers 25 or older may have a monthly fee unless they meet minimum balance requirements.

Bank of America Preferred Rewards program

If you're a Bank of America customer, you can enroll in the Preferred Rewards program.

To participate in the program, you need to have a Bank of America checking account and at least $20,000 in combined balances in your Bank of America accounts (including your checking, savings, or Merrill investment accounts).

Depending on your program tier, you can qualify for benefits like:

• Bonus Bank of America credit card rewards
• Interest rate discounts on auto loans and home equity loans
• Reduced mortgage origination fees
• Waived monthly maintenance fees
• Annual percentage yield (APY) rate increases on savings accounts

Bank of America preferred rewards tiers

Bank of America fees to watch out for

Depending on the account type, you may have the following fees on a Bank of America checking account.

• Monthly maintenance fees: The monthly account fee is a required administrative fee if you have an account open unless you qualify for a fee waiver.
• Rush replacement ATM or debit card fee: If your card is lost or stolen and you need a replacement as soon as possible, there is a $15 rush fee.
• Non-Bank of America ATM fee: Within the U.S., you'll have to pay $2.50 (on top of the ATM's fees) for withdrawals made from ATMs outside of Bank of America's network. Internationally, the fee is $5.00.
• Overdraft fee: If your account is overdrawn, meaning you have transactions that exceed your account balance, Bank of America will charge an overdraft fee of $10 per transaction.
• Stop payment fee: If you need to cancel a check or payment, Bank of America charges a $30 stop payment fee.
• International transaction fee: If you travel outside of the U.S. and use your debit card to complete transactions, Bank of America charges a foreign transaction fee of 3% of the transaction amount made in other currencies. If the transaction is in U.S. dollars, the fee is $0.

What to consider when shopping for a checking account

Whether you open an account with Bank of America or another bank, keeping the following factors in mind can help you choose the right option.

• Institution type: You can choose between banks and credit unions. Banks may boast broader branch and ATM networks and have more account options, but credit unions often have a community-focused approach to banking as well as lower fees and higher APYs on savings accounts.
• Branches: If you have questions about your bank accounts or need help, having access to a local branch can be an invaluable benefit. Not all banks operate brick-and-mortar branches, and others have only a limited number of branches. By contrast, big banks like Bank of America have a large physical footprint. Bank of America operates about 3,700 financial centers in the U.S.
• ATM network: If you need to take out cash, you'll often have to pay a fee to withdraw it from an ATM outside of your bank's network. Look for an institution with a large ATM network to avoid that scenario.
• Deposit options: With many checking accounts, you can deposit money via electronic transfers, check deposits, or by depositing cash. However, some banks — particularly digital or online-only banks — may have more limited options. If you have a cash-based job, look for a bank that allows you to deposit cash at an ATM or local branch.
• Mobile app: Mobile apps are a quick and convenient way to manage your checking account. A bank with a powerful app that allows you to view your balances, transfer cash, and set up account alerts can make managing your money much easier. If you handle a lot of your routine banking tasks from your phone, check out the best banking apps.
• Credit checks: If you're looking for a no-credit-check bank account, there are options specifically designed for those with poor credit histories.

FAQs

Bottom line

Bank of America Advantage Banking has several account options that could be a good fit for many different types of customers.

Whether you're a parent who wants to teach a child how to budget and manage their money or a young professional who needs a checking account for direct deposit, Bank of America offers accounts with a broad network of branches and ATMs to make banking convenient.

However, its accounts will come with monthly fees and other costs for most customers, so depending on your needs, you may find that one of our picks for the best checking accounts is a better fit.

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FinanceBuzz writers and editors score products and companies on a number of objective features as well as our expert editorial assessment. Our partners do not influence our ratings.

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