To avoid maintenance fees on a Bank of America account, you can take one of the following actions:
- Keep a minimum balance. Many accounts have a minimum balance requirement, such as $1,500, that must be maintained to avoid a monthly maintenance fee.
- Use direct deposit. Some accounts waive the maintenance fee if you have a certain amount of money directly deposited into your account each month.
- Sign up for paperless statements. Some accounts waive the maintenance fee for customers who opt for electronic statements.
- Use the account for certain activities, such as making a certain number of transactions per month.
- Have a certain type of account, such as a student account, which may have waived or lower maintenance fees.
It is recommended to check your account’s fee schedule or talk to a representative from Bank of America to see what options are available to you.
It is important to review the fee schedule for your specific account to understand the maintenance fee and how to avoid it. The fee schedule will outline the conditions under which the fee is waived or reduced.
It’s also important to check if there are any other fees associated with the account, such as ATM fees, foreign transaction fees, or fees for using other banks’ ATMs.
It’s also important to know that the requirements for waiving maintenance fees may change over time, so it’s a good idea to review the fee schedule periodically to make sure you’re still meeting the requirements.
It’s important to keep track of your account’s balance and transactions to ensure you are meeting any minimum balance or transaction requirements to avoid maintenance fees.
Finally, if you’re having difficulty avoiding the maintenance fee, consider speaking with a representative from Bank of America. They may be able to offer solutions or suggest alternative account options that better suit your needs.