Does Bank of America have free checking?

Q. Can I get free checking from Bank of America, or do all their checking accounts have fees?

Adam answers:

If you’re a student, yes. Otherwise, there is no totally free checking option from Bank of America. However, there are multiple ways to avoid Bank of America’s monthly checking account fees:

  1. First, as mentioned above, “Students under age 24 are eligible for a waiver of the monthly maintenance fee for the Advantage SafeBalance Banking and the Advantage Plus Banking setting while enrolled in a high school or in a college, university or vocational program.” In other words, free checking for you if you’re a student.
  2. Second, Bank of America offers what it calls a “Checking Clarity Statement” that shows you how you can avoid its monthly checking account fees. For example, the Bank of America Advantage Plus checking account has a $12 monthly fee, but you can have that waived if you “Make at least one qualifying Direct Deposit of $250 or more OR Maintain a minimum daily balance of $1,500 or more, OR Enroll in the Preferred Rewards program and qualify for the Gold, Platinum or Platinum Honors tier.”

So, you can get free checking as a student or if you meet the other criteria established by Bank of America.