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sshepard / Getty Images Whether you need a convenient way to pay bills, track your finances or provide proof of payment, having a checking account can come in handy. It also serves as a more secure method of payment than cash. Although there’s no shortage of financial institutions to choose from when you’re interested in opening an account, Bank of America, Member FDIC, is ranked as one of the best national banks of 2022. So it’s not by accident that the bank has several good checking account options for you to consider. Read on for the full details of the bank’s Advantage Banking checking accounts and what you’ll need to open an account. What Do You Need To Open an Account at Bank of America?To open a checking account with Bank of America, you’ll need to provide your personal information to complete the application, including:
You’ll be required to show two forms of identification. Acceptable primary forms of ID include:
Your second form of ID verifies your primary ID. Types of acceptable secondary IDs include:
Decide Which Bank of America Account Is Best for YouOnce you’ve gathered your documents, you’ll need to choose the Bank of America checking account that best suits your needs. Bank of America currently offers three options:
Now that you’ve reviewed what Bank of America’s Advantage Banking checking settings have to offer, you can make an informed decision as to whether one suits your needs. If you’re still not sure or want to read more before you decide, check out a review of the bank that covers its products, fees and how it compares to its competitors. Bank of America Checking Account FAQAlthough the basic idea behind a checking account can be simple to understand, there are still many common questions surrounding them, in part because there are so many different kinds. Here are the answers to some of the most frequently asked questions regarding checking accounts.
This article has been updated with additional reporting since its original publication. Information is accurate as of Sept. 28, 2022. Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article. Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article. Alicia Bodine is a New Jersey-based writer specializing in finance, travel, gardening and education. With more than 13 years of experience, her work has appeared in Chron.com, Livestrong, eHow, USA TODAY, GlobalPost, Education.com and wiseGEEK. Learn More What are the minimum requirements to open a savings account at Bank of America?The Bank of America Advantage Savings account requires a $100 opening deposit, which is on the higher end for brick-and-mortar savings accounts. There is an $8-per-month maintenance fee that is waived for the first six months for new account holders.
Does Bank of America require a minimum balance for savings account?You can avoid the Monthly Maintenance Fee when you meet ONE of the following requirements during each statement cycle: • Maintain a minimum daily balance of $500 or more, OR • Link your account to your Bank of America Advantage Relationship Banking®, Bank of America Advantage® with Tiered Interest Checking or Bank of ...
What is the monthly fee for a savings account at Bank of America?Bank of America imposes an $8 monthly maintenance fee on its savings accounts. Though it is possible to waive this fee if you meet certain criteria, such as maintaining a $500 balance, many other banks charge no monthly fees on savings accounts.
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