Advantage Plus Banking is Bank of America’s standard checking account, sitting in the middle of the bank’s lineup between the no-frills SafeBalance account and the premium Advantage Relationship Banking tier. It comes with a $12 monthly maintenance fee that can be waived, check-writing privileges, overdraft coverage, and access to Bank of America’s nationwide ATM network. For most everyday banking needs, this is the account Bank of America steers customers toward.
Monthly Fee and How to Avoid It
The account carries a $12 monthly maintenance fee, but you can eliminate it by meeting just one of three conditions during each statement cycle:
- Direct deposit: Receive at least one qualifying direct deposit of $250 or more.
- Minimum balance: Keep a daily balance of $1,500 or more in the account every day of the cycle.
- Rewards membership: Be enrolled in the Preferred Rewards program (transitioning to “BofA Rewards” around May 2026, at which point you’ll need to qualify for the Preferred Plus tier or higher).
For most people, the direct deposit route is the simplest. A single paycheck, pension payment, or government benefit of $250 or more per cycle keeps the fee at zero. If your income arrives in smaller increments, maintaining a $1,500 balance is the next easiest path, though that money is effectively locked up to serve as your fee shield.
Core Features
Advantage Plus Banking includes the tools you’d expect from a full-service checking account at a large bank. You can write checks, deposit them through your phone using mobile check deposit, and send or receive money through Zelle directly inside the Bank of America app. The account gives you fee-free access to more than 16,900 Bank of America ATMs for withdrawals and deposits.
A card lock feature lets you freeze your debit card from the app if it’s lost or stolen, blocking most new transactions until you unlock it or get a replacement. The account also connects to BankAmeriDeals, a cash-back program that offers statement credits at participating stores and restaurants when you use your debit card.
Overdraft Policy
Unlike the SafeBalance account, which simply declines transactions when your balance is too low, Advantage Plus allows overdrafts. Bank of America charges a $10 overdraft fee and can apply it up to two times per day. That means a bad day could cost you $20 in fees on top of whatever you overspent. If overdraft fees are a recurring problem for you, the SafeBalance account’s decline-only approach may be a better fit, though you’d give up check-writing privileges.
How It Compares to Other Bank of America Accounts
Bank of America offers a few checking tiers, and the differences come down to fees, features, and who each account is designed for.
SafeBalance Banking is the entry-level option. It has a lower monthly fee but strips away check-writing and overdraft programs. Transactions that would overdraw your account are simply declined. It’s built for people who want guardrails against fees.
Advantage Relationship Banking sits at the top. It’s the only Bank of America checking account that earns interest, but it requires a $20,000 minimum daily balance to avoid a $25 monthly fee. That makes it practical only if you already keep a large cash balance or pair it with significant investment accounts at Merrill.
Advantage Plus occupies the middle ground: full checking features, a manageable fee waiver threshold, and overdraft access. For someone with a steady paycheck who wants a conventional checking account, it checks the standard boxes without requiring a five-figure balance.
Preferred Rewards Integration
Holding an Advantage Plus account qualifies you for Bank of America’s Preferred Rewards program, which unlocks perks across checking, savings, credit cards, and Merrill investment accounts. Enrollment requires a checking account plus a three-month average combined balance of at least $20,000 across eligible Bank of America deposit accounts and Merrill investment accounts.
The program has four tiers based on that combined balance:
- Gold: $20,000 to $49,999
- Platinum: $50,000 to $99,999
- Platinum Honors: $100,000 to $999,999
- Diamond Honors: $1 million and above
Benefits scale with each tier and include boosted credit card rewards rates, reduced mortgage fees, and free ATM transactions at non-Bank of America machines. Even at the Gold level, membership waives the $12 monthly fee on the Advantage Plus account. If you already invest through Merrill or hold a combination of savings, CDs, and IRAs at Bank of America, the $20,000 threshold may be easier to reach than it sounds since those balances all count together.
Opening the Account
You’ll need a $100 minimum deposit to open an Advantage Plus account. You can apply online or at a branch. If you’ve owned or co-owned a Bank of America personal checking account within the last 12 months, you won’t be eligible for any new-customer sign-up bonus the bank may be offering, though the account itself is still available to you.
Once funded, it typically takes a business day or two before your debit card ships, and mobile and online banking access is available almost immediately. Direct deposit setup with your employer usually takes one to two pay cycles to kick in, so if you’re counting on that to waive the monthly fee, keep your balance at $1,500 during the transition to avoid a charge on your first statement.