The fastest way to avoid the fee is to keep a minimum balance or set up direct deposit

Bank of America charges a monthly maintenance fee (called the monthly maintenance charge) on most checking accounts unless you meet one of their conditions. The fee is currently $12 per month, but the easiest way to stop paying it is to either maintain a minimum balance in your account or have a paycheck deposited directly into that account each month.

If neither of those works for your situation, you have other options: link your account to a savings account at Bank of America, set up a certain number of debit card transactions per month, or switch to an account type that does not charge the fee at all. The method you choose depends on which requirement fits your actual banking habits.

Key Takeaways

  • Bank of America's $12 monthly maintenance fee is waived if you maintain a $500 minimum daily balance or have direct deposit set up on your account.
  • You can also avoid the fee by linking your checking account to a Bank of America savings account, or by making 10 or more debit card transactions per month.
  • The eChecking account has no monthly maintenance fee and no minimum balance requirement, though it comes with limited check writing and no debit card.
  • If you do not meet any waiver condition, the fee will post automatically each month unless you contact the bank to close the account or switch account types.
  • Checking your account settings in the Bank of America app or online banking lets you confirm which waiver condition you are currently meeting, if any.

Meet the $500 minimum daily balance requirement

The simplest condition to understand is the minimum balance: keep at least $500 in your checking account every single day of the month, and the fee does not post. This is a daily balance, not an average, which means the account cannot drop below $500 at any point during the statement period.

For many people, this is the easiest path because it requires no action beyond what they already do — if you normally keep several hundred dollars in checking anyway, you are already meeting this condition. You can check whether you are hitting the balance each day by logging into your Bank of America account online or through the mobile app and looking at your current balance.

The downside is that this ties up money that could otherwise be earning interest in a savings account or money market fund. If you are living paycheck to paycheck or do not have $500 available to keep in checking, this method will not work for you.

Set up direct deposit to waive the fee

Direct deposit means your employer (or another source like Social Security or a pension) deposits your paycheck or regular payment straight into your Bank of America account. If you have at least one direct deposit per month, the monthly maintenance fee is waived, regardless of your balance.

To set this up, you will need to provide your employer or benefits administrator with your Bank of America account number and routing number. You can find both in the Bank of America app under account details, or by calling the bank's customer service line. Once the direct deposit is active, it usually takes one or two pay cycles to show up, but the fee waiver applies as soon as the first deposit posts.

This method works well if you receive a regular paycheck or regular government benefits. If you are self-employed or do not receive regular deposits, you may not be able to use this option.

Link a Bank of America savings account to your checking account

Bank of America will waive the checking account maintenance fee if you have a linked savings account with them. The savings account itself does not need to have a minimum balance or any activity — it just needs to exist and be linked to your checking account.

You can open a savings account online through Bank of America's website or app in a few minutes. Once it is open, go to your checking account settings and link the two accounts. The fee waiver takes effect on your next statement cycle. This option costs nothing and requires almost no ongoing effort, making it a good choice if you do not have direct deposit or a $500 balance to maintain.

Make 10 or more debit card transactions per month

Bank of America will also waive the fee if you use your debit card for 10 or more transactions in a single month. Each transaction counts separately — so 10 separate purchases at the grocery store, gas station, or online retailers all count toward the total.

This method works if you use your debit card regularly for everyday spending. However, it requires you to remember to use the card (rather than cash, checks, or another payment method) and to reach the 10-transaction threshold every month. If you go a month without hitting 10 transactions, the fee will post that month.

Switch to the eChecking account if you rarely write checks

Bank of America offers an account called eChecking that has no monthly maintenance fee and no minimum balance requirement. The trade-off is that it comes with limited check-writing privileges (you get 3 free checks per month, then pay per check after that) and no debit card.

This account makes sense if you do most of your spending through transfers, bill pay, or other digital methods and rarely need a debit card or write checks. You can open eChecking online or at a branch. If you later decide you need a debit card or more checks, you can switch back to a standard checking account, though you would then be subject to the maintenance fee again unless you meet one of the waiver conditions.

Check your account settings to see which waiver you are meeting

Log into your Bank of America account online or through the mobile app and go to your checking account details. Under account information, you should see a section that shows which waiver conditions apply to your account. This tells you whether the bank recognizes your direct deposit, your linked savings account, or your debit card transactions.

If you do not see any waiver listed and you are not maintaining the $500 minimum balance, the $12 fee will post on your next statement date. At that point, you can either set up one of the waiver conditions before the next cycle, or contact Bank of America to discuss other options or account types.

Frequently Asked Questions

What if I already paid the maintenance fee this month?

You can contact Bank of America customer service and ask them to reverse the fee as a one-time courtesy, especially if you set up a waiver condition immediately after. They do not always agree, but it is worth asking. Going forward, make sure one of the waiver conditions is active on your account so the fee does not post again.

Does the direct deposit have to be from my job, or can it be from anywhere?

Direct deposit from any source counts — paychecks, Social Security, pension payments, tax refunds, or transfers from another bank. As long as it is a direct deposit into your Bank of America account, it waives the fee for that month.

If I link a savings account, do I need to keep money in it?

No. The savings account can be empty. Bank of America only requires that it exists and is linked to your checking account. You do not need to maintain any balance or make any deposits to the savings account for the fee waiver to work.

Can I avoid the fee by closing my account and reopening it?

No. Bank of America will not waive the fee by closing and reopening. If you want to avoid the fee, you need to meet one of the actual waiver conditions or switch to eChecking. Repeatedly closing and reopening accounts can also trigger fraud alerts or restrictions on your account.

What happens if I meet multiple waiver conditions?

You only need to meet one condition to waive the fee. If you have direct deposit and also maintain the $500 balance, the fee is still waived — you do not get any extra benefit for meeting multiple conditions, but you also do not pay the fee.