Kathleen Cole, Member
@kathleen_cole
Bank of America checking accounts do not have enhanced payroll fees. Enhanced Payroll is a type of QuickBooks software subscription that helps businesses pay their employees and report their wages to the IRS, and Bank of America does not offer access to the service as an account benefit or charge fees related to it. Bank of America’s online banking interface simply provides a link for users to navigate to the Intuit website to access payroll services for convenience.
The Enhanced Payroll service itself is provided by Intuit, and they will determine and charge any applicable fees. QuickBooks Desktop Enhanced Payroll is currently priced at $500/year (plus $2 per employee per month) or $50/month (plus $2 per employee per month).
People also ask
How do I avoid monthly fees with Bank of America?
Bank of America offers various checking accounts, each with its own fee structure. Therefore, there's no single answer to avoiding all monthly fees, but here are some common ways to waive fees on their most popular accounts:
- Minimum Daily Balance: Maintaining a certain minimum balance in your checking account (or sometimes combined balances across multiple BofA accounts) is a common way to avoid the monthly fee. The specific amount varies by account.
- Direct Deposits...
How do I avoid Bank of America Advantage Plus Banking fees?
To avoid the monthly maintenance fee for your Bank of America Advantage Plus Banking you must maintain a minimum daily balance of $1500 or meet one of the following requirements each statement cycle:
- Qualifying Direct Deposits: Receive direct deposits of $250 or more each month, such as from your paycheck or government benefits.
- Preferred Rewards Enrollment: Enroll in Bank of America's Preferred Rewards program. This program offers various benefits based on your combined balances across...
Does Bank of America have fees for checking account?
Yes, Bank of America does have fees associated with its checking accounts. The specific fees and their amounts can vary depending on the type of checking account you have and your account activity. Here are some common fees you might encounter:
- Monthly maintenance fee: This fee is charged monthly unless you meet certain criteria to waive it, such as maintaining a minimum balance or having a qualifying direct deposit.
- ATM fees: While Bank...
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