This product has been scored using WalletHub’s proprietary rating system for banking products. We evaluated this account for various consumer needs and picked the rating for the need with the highest score, which is "Everyday checking for cash businesses."
The offer is for new eligible business checking customers only.
Offer expires 12/31/2025.
To qualify, deposit $5,000 or more in New Money* directly into a new eligible Bank of America Business Advantage Banking account within thirty (30) days of account opening.
Maintain an average balance of $5,000 or more in that new Business Advantage Banking account during the Maintenance Period**.
Once all requirements are met, Bank of America will attempt to pay bonus within 60 days.
Additional terms and conditions apply. See offer page for more details.
*New Money is new funds deposited into your business checking account that are not transfers from other Bank of America deposit accounts or Merrill investment accounts.
** The Maintenance Period begins thirty-one (31) calendar days after account opening and ends ninety (90) calendar days after account opening.
Bank of America® Business Advantage Banking is one account with two options –Business Advantage Relationship Banking and Business Advantage Fundamentals™ Banking
No fee for the first 20 transactions (Bank of America® Business Advantage Fundamentals™ Banking) and 500 transactions (Bank of America Business Advantage Relationship Banking) per statement cycle.
No fee for the first $5,000 (Bank of America® Business Advantage Fundamentals™ Banking) and $20,000 (Bank of America Business Advantage Relationship Banking) in cash deposited per statement cycle at an ATM or Financial Center.
Easy, anytime access. Visit Bank of America at thousands of financial centers and ATMs.
24/7 security. Total Security Protection® and fraud monitoring. Secure sign-in, card locking features and more.
Convenient ways to pay. Use your debit card immediately for in-store and digital purchases.
Access to Small Business specialists to help find solutions that fit your goals.
Our $0 Liability Guarantee means that you’re not liable for unauthorized transactions made using your business debit card, as long as you report them promptly.
Eligible Preferred Rewards for Business members can access a wide range of rewards, benefits and savings.
This product has been scored using WalletHub’s proprietary rating system for banking products. We evaluated this account for various consumer needs and picked the rating for the need with the highest score, which is "Everyday checking with a low balance."
Market Comparison
3.5
Fees: 4.3
Interest Rates: 0.0
Annual Cost: 3.9
Other Features: 0.0
APY
0.00%
Monthly Fee
$4.95
Signup Bonus
None
No Overdraft Fee
Interest Rate Breakdown
Balance
APY
$0+
0.00%
Minimum to Open: $25
Additional Info
Digital banking — no paper check writing
Helps prevent overspending — no Overdraft Item Fees
This product has been scored using WalletHub’s proprietary rating system for banking products. We evaluated this account for various consumer needs and picked the rating for the need with the highest score, which is "Everyday checking with a low balance."
User Reviews
4.3
Market Comparison
2.9
Fees: 3.5
Interest Rates: 0.0
Annual Cost: 3.1
Other Features: 2.0
APY
0.00%
Monthly Fee
$12
Signup Bonus
None
Low Overdraft Fee
Interest Rate Breakdown
Balance
APY
$0+
0.00%
Minimum to Open: $100
Additional Info
Digital banking with the choice to pay using a variety of payment options.
Multiple ways to waive your monthly maintenance fee, including direct deposit.
Option to enroll in Balance Connect for Overdraft Protection.
2 overdraft setting options:*
Option 1: Standard. This setting will be automatically applied to your account. $10 Overdraft Item Fee.
Option 2: Decline All. You can choose this setting if you would like to have your transactions declined or returned unpaid when you don't have enough money.
This product has been scored using WalletHub’s proprietary rating system for banking products. We evaluated this account for various consumer needs and picked the rating for the need with the highest score, which is "Everyday checking with a low balance."
User Reviews
3.5
Market Comparison
2.2
Fees: 2.7
Interest Rates: 0.0
Annual Cost: 2.2
Other Features: 2.0
APY
0.01% - 0.02%
Monthly Fee
$25
Signup Bonus
None
Low Overdraft Fee
Interest Rate Breakdown
Balance
APY
$0 - $50,000
0.01%
$50,000+
0.02%
Minimum to Open: $100
Additional Info
No fees on select banking services.
Option to enroll in Balance Connect for overdraft protection.
2 overdraft setting options:*
Option 1: Standard. This setting will be automatically applied to your account. $10 Overdraft Item Fee
Option 2: Decline All. You can choose this setting if you would like to have your transactions declined or returned unpaid when you don't have enough money.
Paper checks available (no charge or discounted depending on check style)
Worst customer service. Their fraud protection is a joke, constantly having issues with their so-called fraud when there is nothing going on. Customer service responses are useless, and they do not help, but they are very good at leaving you on hold.
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Product: Bank of America Checking
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Hector Toledo Ramos @toledoramos54
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1 Star Rating
I opened my first bank account at Bank of America. At first, everything was fine, but when problems arose, the service was terrible, and it seemed as if the account was their property and not mine. As a result, I stopped using this bank as my main account. Recently, I applied for a Royal Caribbean credit card that is under the name of this bank, and it was disapproved according to Royal Caribbean due to the misuse of my Bank of America checking account. It's amusing how this bank processes credit cards. Of course, I closed my account and I would not reopen it even if they offered me a monthly payment. I think they do not help at all. However, Chase has approved me for good cards and has increased my credit limit quickly, another thing that Bank of America does not do. Think carefully if you have this bank.
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Product: Bank of America Checking
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KANJANA Amato @K_amato11
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4 Star Rating
I was trying to open a checking account at Smith and Baltic Branch in Brooklyn, and Teion Cato is such a wonderful banker to help me! She is patient and the most professional banker I have ever encountered. I am very grateful for her understanding what I needed help with. Thank you so very much! Kanjana
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Product: Bank of America Checking
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Jetinder Singh @jetinder_singh
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1 Star Rating
I recently visited the Bank of America branch (1230 Parkway Ave STE 106, West Trenton, NJ 08628) with my father to withdraw cash. While I could have used the ATM, I specifically wanted $100 bills, so I figured, 'Why not go inside and speak to a human?'
Big mistake.
The branch was spotless, quiet, and oddly peaceful... probably because no actual work was happening. We were greeted with a smile by one gentleman, and then, like characters in a low-budget spy movie, I noticed a handful of employees peeking at us from behind their translucent glass partitions. I counted at least four staff members, including the manager, all having casual conversations and taking leisurely strolls around the office like they were in a mall, not a bank.
Meanwhile, there was just one cashier, assisting an elderly customer. Fair enough — everyone deserves attention. But what followed was a brilliant display of how not to help the next customers in line. My father and I waited patiently — for a solid 10 minutes — expecting that maybe, just maybe, someone would acknowledge our presence or open another counter.
Nope. They just kept walking around, talking, and occasionally glancing at us as if we were part of the furniture. Even the manager — with a permanent smirk that could rival a sitcom character — chose not to intervene. I guess watching customers wait is the new BOA training module?
Eventually, I gave up, walked over to the ATM, took out my money (in whatever bills it gave), and turned around with a cheerful, "Thank you for your quick and prompt service!" — because sarcasm was the only service available that day.
This experience was frustrating, awkward, and frankly disrespectful. It felt like we were invisible, or worse — entertainment. I went in for help and came out with a reminder of why so many people are ditching traditional banks.
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Product: Bank of America Checking
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JOETR360 @JOETR360
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1 Star Rating
I bank at about 6-7 different banks, Umpqua, Columbia Credit Union, Pacific Federal NW Credit Union, Chase, Onpoint, and Bank of America, and out of them all, Bank of America isn't my least favorite, it's the most cumbersome and painful to use. I'll tell you why:
1. Their telephone authorization code never sends codes on time. I'm waiting a minute, or 60 minutes—imagine trying to get a task done on your busy day, and you are still waiting for this authorization code to transfer money. Why this extra step? I'm still waiting for a login, but the app automatically logged you out of your account after 10 minutes of inactivity while I'm waiting for the code. Now, I have to redo my entire transfer because it's dependent on when I get this code.
2. Bank of America has great security measures. So great that I can't even access my money or transfer between my business/personal account. This has been happening for years between my business and personal accounts. Between using my computer and phone, it always recognizes it as a new device and always asks for my debit card/PIN. Juggling between all of my banks and logins, when I'm in the field, how am I to remember all my different logins? Bank of America makes it impossible for even you, the user, to do basic functions on your own account.
3. The app doesn't even remember your password, even with Face ID. The amount of times I've accidentally locked my account due to it incorrectly saving my login information has been countless. I'm now having to locate my card number, write in my Social Security number, in order to change my password. How come other banks have much easier utility for all of these basic functions?
For that, I am trying to transfer all of my funds to a different account. I can't waste time redoing basic functions like transferring money from one account to another, or even logging in. Bank of America needs to step up their user interface and work on their balance between finding new methods for security measures because as a working client with 4 to 5 different businesses, Bank of America does not fit what I need to do, and I am taking my business elsewhere until they can figure out what Chase or Columbia Credit Union is doing in order to make my banking experience easier.
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Product: Bank of America Checking
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Danny sanchez @go_2lildj
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1 Star Rating
The real thieves, hustlers, and scavengers. Not to mention scammers. If you check your balance sheets, they still bring the deductions from two weeks ago, and you do not see your money saved. If you call a customer service representative, they will give you random information. I did call four different customer service representatives, and they all gave nonsensical answers. Not professional, not prepared, these are the real thieves. Liars.
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Product: Bank of America Checking
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0
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lou alessandri @alexxxals
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1 Star Rating
The level of incompetence at Bank of America is incredible. It's like the Liberal Party; they strive to reach rock bottom. spent over an hour on the phone I am an idiot for being with the bank so long sad sad sad
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Product: Bank of America Checking
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0
0
guillermogomez701 @guillermogomez701
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2 Star Rating
Extraordinarily awkward app, website. Terrible customer service wait times. Annoying account "maintenance" fees. It's 2025 and this doesn't add up anymore.
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Product: Bank of America Checking
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0
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lloammes fabre @lloammes01
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1 Star Rating
Customer for over 10 years. On 03/03/2025, an unauthorized charge for $1,309.99 was posted. I reported it immediately. On 03/12/2025 I received a provisional credit, but on 05/14/2025 the bank reversed it without providing any conclusive proof of authorization. In June and July, I requested reconsiderations; the bank denied them, providing contradictory explanations and even labeling one as a "duplicate." On 08/15/2025, the bank put in writing that the credit would be permanent, yet they reopened the case and decided not to return the money.
The bank also cited the Mastercard Account Updater to explain the processing, but that program only updates stored credentials and does not equate to consumer consent. After so many years as a customer, I am disappointed with the handling and the lack of Regulation E compliance. As of today, there is still no refund.
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Product: Bank of America Checking
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0
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l_r_furman @l_r_furman
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1 Star Rating
Customer service is horrible, and you will not get approval on most requests. They will not explain themselves or help you resolve your rejection in any way. There are just so many banks out there; there is no reason to deal with one that doesn't care about their customers. Go somewhere else and run.
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Product: Bank of America Checking
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Review Bank of America Checking Accounts
Bank of America Checking Accounts Q&A
Get answers to your questions about Bank of America Checking Accounts below. Editorial and user-generated content is not provided, reviewed or endorsed by this issuer. Please keep in mind that it is not a financial institution’s responsibility to ensure all posts and questions are answered.
The Bank of America overdraft fee is $10 per transaction that overdraws your account, if you have a Bank of America checking account that allows overdrafts. Some Bank of America accounts will not charge an overdraft fee but only because transactions that would overdraw your account will be declined.
Key Things to Know About Bank of America Overdraft Fees
Not all accounts are eligible for overdraft services. While most of Bank of America's checking accounts come with overdraft capabilities, not all of them do. For example, any transaction that would overdraw the Bank of America Advantage SafeBalance Banking will automatically be declined. Therefore, the Bank of America Advantage SafeBalance Banking will never be charged overdraft fees.
Overdraft fee waivers could be available. If this is your first time overdrawing your account, your bank may agree to waive the overdraft fee as a courtesy. Call Bank of America at 1 (800) 432-1000 to request to have your overdraft fee waived.
You must opt-in to some overdraft services. By default, checks and recurring debit card transactions may go through even if you don't have sufficient funds in your account, resulting in an overdraft fee. However, you must opt-in to allow your account to be overdrawn by individual ATM or debit card transactions. If you do not opt-in to this service, any requested ATM or debit card transactions for which you do not have sufficient funds will be declined, and your account will not be charged.
You can set up overdraft protection to prevent fees. If you're concerned about overdraft fees, Bank of America offers a service called overdraft protection that allows you to link up to 5 Bank of America backup accounts such as a savings account, another eligible checking account, a credit card or a line of credit account to your main checking account. In the event that your account does not have sufficient funds for a requested transaction, funds will be transferred from the linked account to the main account to cover the purchase.
Bank of America will only charge you up to 2 overdraft fees per day. Even if you attempt transactions that would overdraw your account more than 2 times in a day, you will only be charged 2 overdraft fees.
Excessive overdrafts could have other consequences. Fees aren't the only way banks punish you for overdrawing your checking account. If you have too many overdrafts, Bank of America may report it to ChexSystems. ChexSystems is like the credit reporting agencies, but for bank accounts. If you've ever mishandled a bank account in the past – by bouncing checks, having too many overdrafts or failing to pay fees, for example – you may have a ChexSystems report. Based on the information contained in this report, a bank may refuse to accept you as a customer in the future.
Bank of America's overdraft fee of $10 per transaction is below average. According to WalletHub's latest Banking Landscape Report, the average overdraft fee for checking accounts in the United States is $27.79.
As per the bank's overdraft policy, regardless of the amount of money in your account, you may be able to authorize an overdraft and access cash at a Bank of America ATM. You'll pay a $35 Overdraft Item fee for the ATM withdrawal unless you deposit money to cover your overdraft by the end of the business day.
According to the bank's overdraft policy, if you authorized an overdraft, you will be able to withdraw emergency cash at a Bank of America ATM, even if you have no funds in your account.
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