How to Avoid Bank of America's Monthly Maintenance Fee

The simplest 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 Fee or similar, depending on your account type) on most checking accounts. The fee is currently $12 per month, though this varies by account type. You can avoid it entirely by meeting one of several conditions — you do not have to pay it if you do not want to.

The most common way to waive the fee is to maintain a minimum daily balance in your account. For a standard Bank of America checking account, this is typically $1,500, though the exact amount depends on which account you hold. If your balance never drops below that threshold on any day of the month, the fee does not post. The second method is to set up direct deposit of your paycheck or government benefits — most Bank of America accounts waive the fee if you receive at least one direct deposit per month.

Key Takeaways

Bank of America's monthly maintenance fee is $12 on most checking accounts, but you can waive it by maintaining a $1,500 minimum daily balance or setting up one direct deposit per month.
The minimum balance requirement is checked daily, so even one day below the threshold will result in the fee being charged.
Direct deposit includes paychecks, Social Security, pension payments, and other regular transfers from employers or government agencies.
If you are already paying the fee, you can contact Bank of America to request a refund for recent months if you now meet one of the waiver conditions.
Switching to a different account type or bank may be cheaper if you cannot consistently meet the balance or direct deposit requirement.

Meeting the minimum balance requirement

The $1,500 minimum balance is the easiest path if you have the money sitting in your account anyway. Bank of America checks your balance every single day — if it drops to $1,499 or lower on even one day, you will be charged the fee that month. This means you cannot dip below the threshold to pay a bill or make a withdrawal, even temporarily.

The balance requirement applies to your checking account only, not your savings account or other linked accounts. If you have $2,000 in savings and $1,400 in checking, you will still be charged the fee because the checking balance is what matters. Some people keep a separate savings account and transfer money back to checking only when needed, but this requires discipline — you have to remember to keep the checking balance above $1,500 at all times.

If you are living paycheck to paycheck or do not have $1,500 to spare, the direct deposit route is usually more practical.

Setting up direct deposit to waive the fee

Direct deposit means money is transferred electronically into your account from an employer or government agency. Bank of America counts a direct deposit as any regular electronic transfer from a payroll system, Social Security Administration, pension provider, or similar source. You need at least one direct deposit per month to waive the fee — it does not matter how much money arrives, only that the deposit happens.

To set up direct deposit, you will need your Bank of America account number and routing number. Your employer's payroll department or the government agency (Social Security, Veterans Affairs, etc.) will ask for these details. You provide them once, and the deposits happen automatically every pay period or benefit payment date. The whole process takes a few minutes and costs nothing.

If you receive your paycheck by check or cash, you can still use direct deposit by asking your employer to switch you to electronic payment. If you are retired or unemployed and receive Social Security or other benefits, you can set up direct deposit through the Social Security website or by calling 1-800-772-1213. Veterans can set up VA benefit direct deposit through VA.gov.

What counts as direct deposit and what does not

Bank of America recognizes direct deposit from employers, government agencies, and some other sources. Paychecks, Social Security, Supplemental Security Income (SSI), Veterans benefits, pension payments, and unemployment benefits all count. Transfers you make yourself — moving money from another bank account, depositing a check, or receiving a wire transfer — do not count as direct deposit.

This distinction matters because some people think they can trick the system by transferring money from their own savings account. Bank of America's system is automated and checks the source of the deposit. Only transfers that originate from an employer or government payroll system trigger the direct deposit waiver.

Checking your account type and fee structure

Bank of America offers several checking account types, and the monthly maintenance fee and waiver conditions vary slightly. The most common is the Bank of America Checking account, which charges $12 per month and waives the fee for either $1,500 minimum balance or one direct deposit per month. The Bank of America Advantage Checking account has the same fee and waiver conditions.

If you have a different account type — such as a student account, senior account, or premium account — the fee structure may be different. You can find your account type by logging into your Bank of America online account, calling 1-800-432-1000, or visiting a branch. Once you know your account type, you can look up the exact fee and waiver conditions on the Bank of America website or ask a representative.

Some Bank of America accounts, such as certain premium checking accounts, have higher minimum balance requirements (sometimes $10,000 or more) but may offer other benefits like fee waivers on other services or higher interest rates. If you are paying $12 per month and cannot meet the waiver conditions, it may be worth switching to a different account type within Bank of America or moving to a different bank entirely.

Requesting a fee refund if you recently met the waiver conditions

If you were charged the monthly maintenance fee but you now have a direct deposit set up or your balance is above $1,500, you can contact Bank of America and ask them to reverse the charge. They do not automatically refund fees, but they will often waive one or two months if you explain the situation and show that you now meet the waiver conditions.

Call Bank of America at 1-800-432-1000 or visit a local branch with your account information. Be specific: tell them the month the fee was charged, explain that you now have direct deposit or a may have access to balance, and ask if they can remove the fee. Representatives have the authority to reverse recent fees as a courtesy, especially if you have been a customer for a while. There is no may provide they will do it, but it costs nothing to ask.

Alternatives if you cannot meet Bank of America's waiver conditions

If you cannot maintain a $1,500 balance and do not receive direct deposit, paying $12 per month adds up to $144 per year. Many other banks offer checking accounts with no monthly maintenance fee and no minimum balance requirement. Online banks like Ally, Charles Schwab, and Discover often have no-fee checking accounts with the same features as Bank of America's standard checking.

If you want to stay with Bank of America, you could also open a savings account instead of a checking account — savings accounts typically have lower or no monthly fees, though they come with withdrawal limits. Another option is to ask your employer or benefits provider to start direct deposit, which solves the problem without switching banks.

The decision depends on whether you value Bank of America's branch network and customer service enough to pay $144 per year, or whether a no-fee account elsewhere makes more sense for your situation.

Frequently Asked Questions

Does Bank of America charge the fee if I am below the minimum balance for just one day?

Yes. Bank of America checks your balance daily, and if it drops below $1,500 on any single day during the month, you will be charged the monthly maintenance fee. You cannot dip below the threshold even once without triggering the fee.

Can I use transfers from my own savings account to waive the fee?

No. Bank of America only recognizes direct deposit from employers and government agencies. Transfers you initiate yourself, even from your own Bank of America savings account, do not count as direct deposit and will not waive the fee.

How long does it take for direct deposit to start working?

Once you set up direct deposit with your employer or benefits provider, it typically takes one to two pay periods to begin. The first deposit may take longer if it is processed manually. After the first deposit posts, Bank of America will recognize it and waive the fee for that month and all future months, as long as you continue receiving at least one direct deposit per month.

What if I have multiple Bank of America accounts?

Each account is treated separately. If you have both a checking and savings account, the monthly maintenance fee applies only to the checking account. The minimum balance requirement applies to the checking account only — money in your savings account does not count toward it. You would need to meet the waiver conditions for each checking account you hold.

Can Bank of America remove the fee permanently if I ask?

Bank of America does not permanently waive the monthly maintenance fee as a courtesy. However, they will reverse it for recent months if you contact them and explain that you now meet one of the waiver conditions. For ongoing fee avoidance, you must continue to either maintain the minimum balance or receive direct deposit every month.

This guide is for general information only and is not medical, financial, legal, or other professional advice. For decisions specific to your situation, consult a qualified professional. See our Editorial Policy.