Bank of America Business Advantage Fundamentals Banking

Bank of America Business Advantage Fundamentals Banking  
Offered by: Bank of America
3.3 77 reviews   Write a Review!
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Info about the Bank of America Business Advantage Fundamentals Banking has been collected by WalletHub to help consumers better compare checking accounts. The financial institution did not provide the details.
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Bank of America Business Advantage Fundamentals Banking Rates

Range
$1+
Interest Rate
0%
APY
0%
  • MINIMUM TO OPEN $100

Bank of America Business Advantage Fundamentals Banking Fees

  • MONTHLY FEE $16
  • MIN BALANCE TO AVOID MONTHLY FEE $5000
  • OTHER WAYS TO AVOID MONTHLY FEE Spend $250 in net new purchases on a business debit or credit card OR Become a Preferred Rewards Business member
  • PAPER STATEMENT
    FEE
    Info Not Found
  • OVERDRAFT FEE $35
  • NEGATIVE ACCOUNT BALANCE FEE Info Not Found

Bank of America Business Advantage Fundamentals Banking ATM & Debit Card Usage

  • IN-NETWORK ATM TRANSACTION FEE None
  • ATM NETWORK SIZE 16000 ATMs
  • OUT-OF-NETWORK ATM TRANSACTION FEE $2.50
  • REBATE OF ATM OWNER SURCHARGE Not Offered
  • FOREIGN ATM FEE 3% (and $5)
  • DEBIT CARD VISA
  • DEBIT CARD FOREIGN TRANSACTION FEE 3%

Bank of America Business Advantage Fundamentals Banking Additional Info

  • REWARDS No
  • ONLINE BILL PAY FEE $0 per month
  • ADDITIONAL REQUIREMENTS None
  • No fee for first 200 transactions per statement cycle; $0.45 per item thereafter
  • No fee for first $7,500 in cash deposited per statement cycle; then $0.30 per $100 deposited thereafter
  • Free access to more than 16,000 ATMs nationwide

Bank of America Business Advantage Fundamentals Banking Interest Rate Tracker

The graph above is based on WalletHub data. Actual rates may vary. For time periods with multiple applicable rates in our database, based on different criteria, the above graph reflects the lowest interest rate recorded. Before submitting an application, always verify the rates, fees, and all terms and conditions with the respective financial institution.

Customer Questions and Answers

Don't see what you're looking for? Submit your question about Bank of America Business Advantage Fundamentals Banking to our community. Editorial and user-generated content is not provided, reviewed or endorsed by the issuer of this card.

140

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What's the minimum amount I need to keep in my Bank of America Business Advantage Fundamentals checking account? Reply 2

Photo of sydneygarth
Sydney Garth
@sydneygarth

The minimum amount you need to keep in your Bank of America Business Advantage Fundamentals checking account is $5000, in order to avoid the $16 monthly fee.

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2 Upvotes

What is the minimum deposit required to open a Bank of America Business Fundamentals Checking account? Reply 1

Photo of lisacahill
Lisa Cahill
@lisacahill

The minimum deposit required to open a Bank of America Business Fundamentals Checking account is $100.

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1 Upvote

How can I add my Bank of America Business Fundamentals Checking Account to Bill Pay? Reply 1

Photo of kendallmorris
Kendall Morris
@kendallmorris

You can add your Bank of America Business Fundamentals Checking Account to Bill Pay by signing in to your Bank of America account and going to your eBill section.

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1 Upvote

What are the Bank of America checking account Enhanced Payroll fees? Does anyone use Enhanced Payroll (Intuit) via BoA? For less than 20 employees, Beyond the $36 monthly fee, are there other fees if you direct deposit pay employees that don't have BoA accounts? Reply 1

1 Upvote

What is the minimum deposit for opening a Business Fundamentals Checking account? Reply 1

Photo of WalletHub
WalletHub
@WalletHub

The minimum deposit for opening a Business Fundamentals Checking account is $100.

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1 Upvote

How can I deposit a check of over $50,000 from Hawaii? I have a Bank of America Fundamentals Checking Account for my company in Nevada .I live in Hawaii.I want to deposit a check of $90.000 Reply 11

Photo of WalletHub
WalletHub
@WalletHub

You can enroll in the Remote Deposit Online service to deposit your check. You can find information about it here: https://www.bankofamerica.com/smallbusiness/online-banking/cash-management/remote-deposit/faqs.go .

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1 Upvote

what is my monthly deposit limit Reply

0 Upvotes

What is your response to accounts being close out of the blue? As a potential customer that raises a red flag. That’s a huge risk when trying to run as business and finding out you can’t access funds for business transactions. What are some of the reason you can give so that one can avoid having their business accounts closed? Reply

0 Upvotes

Can you deposit a check in your Bank of America Business Fundamentals checking account at a branch? Reply

Photo of kendallmorris
Kendall Morris
@kendallmorris

You can deposit a check in your Bank of America Business Fundamentals checking account at a branch.

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0 Upvotes

How much is the Bank of America Business Fundamentals overdraft fee? Reply

Photo of lisacahill
Lisa Cahill
@lisacahill

The Bank of America Business Fundamentals standard overdraft fee is $35.

If you opt-in for overdraft protection you are charged only a $12 fee for each transfer made from your linked account to cover the overdraft.

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0 Upvotes
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  • Reviews

Bank of America Business Advantage Fundamentals Banking Reviews

Help fellow WalletHub members save money. Share your insights and review the Bank of America Business Advantage Fundamentals Banking:
Your Rating:
0
1 2 3 4 5
3.3
Overall Rating: 3.3 / 5
Total Ratings: 77
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    Photo of angela_best_1
    YesUsefulNo1
    1

    I wish I could give them a 0 but not an option. I am only writing this review for others as their business account customer service is outrageous. Every time I call i'm on hold waiting for call to be answered for 45 min and then I don't even get the business department so they have to transfer me and I have another 45 min wait even though I am calling the direct business number. Seriously save yourself a lot of stress and do not go with this bank. It's been like this for the last 5 years. Today I finally closed my account and am so relieved to not have to go through this again. Also their credit card fees through merchant services are outrageous and had a lot of hidden fees. I was paying $50/month in fees and only have 5 customers (processing about $450 a month). What a nightmare this has been!

    May 3, 2021 · Report Abuse
    Photo of jdome31
    YesUsefulNo1
    1

    Don't do it!! They will randomly close your account for absolutely no reason then give you the run around until you eventually just give up and accept it! They will then hold your money from you until you receive a cashiers check a week later.. they've trained their minions to give you the same robotic answer over and over and over when you ask for answers.. things like "no further information at this time" or "it was a business decision on the end of bank of america" its ridiculous.. im now stuck trying to run a business with no access to any money for the next 5-7 business days and bank of america is giving me no answers.. and apparently many of my entrepreneur friends have had the same issue!! Dont screw yourself!! Go somewhere else!!

    December 8, 2020 · Report Abuse
    Photo of inattlimo
    YesUsefulNo0
    2

    One of the worst bank ever ! They don’t care about there customers. I been there customer last 4 years . All day they promote to use there app. Once comes to overdrafts they said you have login to the website desktop version to look your transaction and app is just a Tool to make customer is fool. Then why all day the promote there App another way to make money from customers all they say we charge you if you ask us y we do that they will tell you we can’t do nothing it’s your fault .

    November 7, 2019 · Report Abuse
    Photo of Kaufmankj1ty
    YesUsefulNo0
    1

    Worst bank I ever seen.
    Poor customer service they will never go out from thier policy's for a customer.
    I came from Chase, I am going to switch back.
    I would say Chase is the King. They freeze checks all the time, you have' t even to whom to talk. Very poor service, if you care for your business stay away from Bank of America.

    May 24, 2019 · Report Abuse
    Photo of kunjalpharma
    YesUsefulNo0
    1

    Very poor service.. I have Business account with BOFA and I have western union agent location. Because of my western union money service business, the Bofa is freezing my account at least once a year although i am providing all required documents. The customer service in Bofa's MSB service unit is literally pathetic. The customer representatives have no sense how to talk and handle issue. Every time i called customer service they are giving different answer to the same question and says your documents submitted is not correct. After every correction, they are asking new correction and this cylcle never ends. It gives so much pain and frustration.. Better to open account with any other bank.

    March 21, 2017 · Report Abuse
    Photo of bc1234
    YesUsefulNo0
    1

    I signed up for this offer due to the $100 signup promotion. The account is basically a personal checking account, nothing special. However, I was surprised at how separated and poor the customer service was from the rest of BOA. Much of my communication was manual and slow (including account application and signup), Worst of all, the did *NOT* ever pay the $100 offer. I had to call in twice, spending almost 3 hours on the phone. The first time they agreed to pay but said it would take a month. The second time they would not pay and said they had no record of my first call. Never had a problem with a bank before now, but this is by far the most frustrating account I have ever had.

    September 10, 2016 · Report Abuse
    Photo of Daltond
    YesUsefulNo0
    5

    I have been a Bank of America customer for about 2 yrs now. I have never experienced any issues with them or have any complaints. The customer service representatives have helped be during situations were I needed to verify information ASAP. Would recommend this account to other business owners, who can keep the minimum balance.

    November 25, 2014 · Report Abuse
    Photo of liam47
    YesUsefulNo0
    4

    I’ve had a checking account on Bank of America for a few years. I have not had many problems with them. There have been times where I was charge without consent and ended up over drafting. Their overdraft fees can get very expensive, and they keep charging more and more until you pay. I called and explained the situation I was in, and they were able to waive those late fees as I sorted out with the company that charged me without my permission.

    October 27, 2014 · Report Abuse
    Photo of richjunkerman
    YesUsefulNo0
    5

    So far my time with Bank of America has been great. I move around a lot so I needed a national chain for a bank account. The only very frustrating experience I had with them is they canceled my card on me when I made a bunch of orders. I deposited money into my bank account and ordered a bunch of stuff basically draining my account. I got a letter and an email telling me my card was canceled and to visit a location to get another. It wasn't that big of a deal as it was more annoying than anything, but it's better safe than sorry.

    August 13, 2014 · Report Abuse
    Photo of jms0123
    YesUsefulNo0
    4

    Overall I am very satisfied with Bank of America, despite a lot of negative press. I run a small business and this is a good checking account for me. I never have a problem avoiding the monthly fee, I have only paid it once and that was in the early days. I also do some business overseas and the low foreign atm fee is very helpful. I can also access the account from a variety of devices including my phone which is very nice. I would recommend the account anybody who is running a small business.

    May 23, 2014 · Report Abuse
    Photo of Diana52082
    YesUsefulNo0
    5

    Bank of America is awesome. They have the best customer service agents when you call them on the phone. They always fix your problem as quickly as possible. I also love to walk into the location. They make you feel like a celebrity just for banking with them. They don't try to push their products on you unless one fits your situation. Great bank!

    April 16, 2014 · Report Abuse
    Photo of scottstru
    YesUsefulNo0
    4

    As a business owner for over the past 8 years I always strive to have a really good checking account with good features. Bank of America has always been good to me in this respect. The fees are low and I am rarely punished for having a low account balance. Sometimes if I do get charged a fee that was a direct result of something I’ve done they are overly understanding and will most likely waive any fees. I like that feature. Good customer service.

    April 9, 2014 · Report Abuse
    Users also submitted 65 ratings without a full review
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