Table of Contents
Overview ..........................................................................................................................2
Optional Services ............................................................................................................2
Personal Bank of America Advantage Banking Accounts............................................3
Personal Savings Accounts ............................................................................................6
Personal CD/IRA Accounts.............................................................................................7
Other Account Fees and Services..................................................................................9
Frequently Asked Questions About Accounts ............................................................ 15
Keep the Change
®
Savings Service ............................................................................ 16
Other Important Account Information for Bank of America Advantage
SafeBalance Banking
®
Account .................................................................................. 16
Preferred Rewards........................................................................................................ 17
Investment products are provided by Merrill Lynch, Pierce, Fenner & Smith Incorporated and:
Are Not FDIC Insured Are Not Bank Guaranteed May Lose Value
Merrill Lynch, Pierce, Fenner & Smith Incorporated (also referred to as “MLPF&S” or “Merrill”) makes
available certain investment products sponsored, managed, distributed or provided by companies that
are affiliates of Bank of America Corporation (“BofA Corp.”). MLPF&S is a registered broker-dealer,
registered investment adviser, Member SIPC and a wholly owned subsidiary of BofA Corp.
02/2024
Page 1
Overview
This schedule lists the fees associated with your account and ways to avoid them when
applicable. For details about your account and its fees, please review the account
descriptions and Other Account Fees and Services section of this document.
Your account and deposit relationship with us are governed by this schedule of fees and
the Deposit Agreement and Disclosures. Please read both agreements carefully. These
agreements are part of the binding contract between you and us for your account and
deposit relationship. You can also find these agreements at bankofamerica.com.
When you open a deposit account, it is located at a financial center and generally remains
at that location until it is closed. If your address is in a state where we do not have a
financial center at the time, we may open the account at a financial center in Virginia. If
state taxes apply to an account or service, taxes are in addition to the fee amount listed.
We may change the accounts and services described in this schedule at any time. We may
add new terms and conditions. We may delete or amend existing terms and conditions.
We may also add new accounts or services and convert or discontinue existing accounts or
services at any time.
You can get information about interest rates and fees for services not covered in this
schedule by visiting a financial center or calling us at the number on your statement.
Deposit Agreement and Disclosures Amended for Bank of America Advantage
SafeBalance Banking
®
Account
Your account and deposit relationship with us are governed by this schedule of fees and the
Deposit Agreement and Disclosures. Note that since there are no check-writing privileges
with the Advantage SafeBalance Banking account, references in the Deposit Agreement
and Disclosures to the ability to write checks and associated rights and obligations
do not apply to Advantage SafeBalance Banking. All other terms and conditions in the
Deposit Agreement and Disclosures that apply to checking accounts apply to Advantage
SafeBalance Banking except as otherwise amended in this schedule of fees.
Other terms and conditions in this schedule of fees amend the Deposit Agreement
and Disclosures, including information in the “Other Important Account Information for
Bank of America Advantage SafeBalance Banking
®
Account” section.
Optional Services
The following optional services are generally available with our checking and savings
accounts:
• Debit card or ATM card
• Online Banking service
• Online and Mobile Bill Pay service
• Email and Text Alerts
• Direct deposits
• Keep the Change
®
Savings Service
02/2024
• Affinity Banking (Checking accounts only)
• Preferred Rewards
• Balance Connect
®
for overdraft protection is an optional service which allows you to link
up to five eligible backup accounts (Balance Connect
®
is not available on Advantage
SafeBalance Banking or savings accounts). Please see the Deposit Agreement and
Disclosures for more information about eligibility and how Balance Connect
®
transfers
work. Transfers from a linked (1) brokerage account with Merrill Lynch that is enrolled
with margin lending, (2) Loan Management Account
®
(LMA
®
account), (3) credit card, or
(4) HELOC are subject to interest charges.
• Automatic transfers from checking to savings
These optional services can help you manage your account. To learn more about them,
please review the agreement for that service. You can also review information on
bankofamerica.com or speak to a financial center associate.
Page 2
Personal Bank of America Advantage Banking
Accounts
Bank of America offers you the ability to choose from and switch between three accounts. Each
account has a different set of features and benefits to offer you flexibility if your banking needs
change. The three Advantage Banking Accounts are:
• Bank of America Advantage SafeBalance Banking
®
• Bank of America Advantage Plus Banking
®
• Bank of America Advantage Relationship Banking
®
Paper checks are an included feature with the Bank of America Advantage Plus Banking and
Account
Bank of America
Advantage SafeBalance
Banking
• No Overdraft Item Fees
• No paper checks
• Use direct deposit
• Non-interest bearing account
• Sole ownership for ages 16+
• Minimum to open - $25.00
Monthly Maintenance Fee and How to Avoid It
Monthly maintenance fee for Advantage SafeBalance
Banking account - $4.95
To avoid the monthly maintenance fee, meet one of the
following requirements during each statement cycle:
• An owner of this account is under the age of 25
Or
• Maintain a minimum daily balance of $500 or more in your
account
Or
• Are enrolled in the Preferred Rewards program and qualify
for the Gold, Platinum or Platinum Honors tier (first 4
checking accounts) or Diamond or Diamond Honors tier
(unlimited).
02/2024
Bank of America Advantage Relationship Banking accounts. The Bank of America Advantage
SafeBalance Banking account is checkless which means that you cannot write personal paper
checks. If you elect to switch from your existing personal account to Advantage SafeBalance
Banking, you will no longer be able to write personal paper checks and should immediately stop
writing them. We will continue to process paper checks you have written prior to switching to
Advantage SafeBalance Banking for 60 days. After the 60 day period, all paper checks that you
have written will be returned unpaid even when sufficient funds are available in the account to
cover the paper check. When this happens, the payee may charge you a fee(s) for the returned
payment.
Other Important Account Information
The Advantage SafeBalance Banking account allows you to make deposits, withdrawals, and
pay bills. You can make payments with your debit card, a wire transfer, an Automated Clearing
House transaction (ACH), Zelle
®
, or through our Online and Mobile Banking Bill Pay service,
and you can make withdrawals at an ATM or financial center. There are some features that are
not available with an Advantage SafeBalance Banking account and should be reviewed. If you
want any of the features listed below, it may not be the right account for you.
• Checks. Paper checks written by you or others on the account will not be paid.
- Do not buy checks from any source, such as checks you see advertised on the internet or
in the newspaper or any other third parties.
- If a paper check is presented for payment, it will not be paid even if you have enough
money in your account to cover it. You may incur fees from the party you were trying to pay
when the check is returned.
- If a merchant uses your account and routing numbers to process a payment as a check, it
may be rejected.
• Standard Overdraft Setting. Your account is automatically set to the Decline All Overdraft
Setting. This means that if you do not have sufficient available funds in your account to
cover an item, the item will be returned unpaid. You may be assessed a fee by a merchant if
this happens. Please see the “Other Important Account Information for Bank of America
Advantage SafeBalance Banking account” section for more details.
• Balance Connect
®
for overdraft protection to or from a linked account.
Fiduciary accounts, including UTMA/UGMA, do not qualify for the under the age of 25
requirement to waive the monthly maintenance fee.
The minimum daily balance is the lowest balance that we determine is in the account during
a statement cycle. This means you will need to ensure your account does not fall below $500
during your statement cycle.
If you choose to switch accounts, your account number will not change but some features may
not be available.
Page 3
Personal Bank of America Advantage Banking
Accounts (cont.)
Account
Bank of America
Advantage Plus Banking
• Use direct deposit
• Non-interest bearing account
• Minimum to open - $100.00
Monthly Maintenance Fee and How to Avoid It
Monthly maintenance fee for Advantage Plus Banking
account - $12.00
To avoid the monthly maintenance fee, meet one of the
following requirements during each statement cycle:
• Have at least one qualifying direct deposit of $250 or more
made to your account
Or
• Maintain a minimum daily balance of $1,500 or more in
your account
Or
• Are enrolled in the Preferred Rewards program and qualify
for the Gold, Platinum or Platinum Honors tier (first 4
checking accounts) or Diamond or Diamond Honors tier
(unlimited).
02/2024
Other Important Account Information
For information about direct deposits, see the Frequently Asked Questions About Accounts
section.
The minimum daily balance is the lowest balance that we determine is in the account during a
statement cycle. This means you will need to ensure your account does not fall below $1,500
during your statement cycle.
If you choose to switch accounts, your account number will not change but some features may
not be available.
Page 4
Personal Bank of America Advantage Banking
Accounts (cont.)
Account
Bank of America
Advantage Relationship
Banking
• Interest bearing account
• Variable rate
• Minimum to open - $100.00
Monthly Maintenance Fee and How to Avoid It
Monthly maintenance fee for Advantage Relationship Banking
account - $25.00
To avoid the monthly maintenance fee, meet one of the
following requirements during each statement cycle:
• Maintain a minimum daily balance of $20,000 or more in
your account
Or
• Are enrolled in the Preferred Rewards program and qualify
for the Gold, Platinum or Platinum Honors tier (first 4
checking accounts) or Diamond or Diamond Honors tier
(unlimited).
Please also review the Other Account Fees and Services section, Frequently Asked Questions About
Accounts section and the Deposit Agreement and Disclosures for additional details related to your
Bank of America Advantage Banking account and information on how to link eligible accounts to avoid the
Monthly Maintenance Fee.
02/2024
Other Important Account Information
You can also get the following services with this account:
• Three additional Advantage Relationship Banking or Advantage
®
with Tiered Interest
Checking accounts and four savings accounts with no monthly maintenance fee when you
link them to your primary Advantage Relationship Banking account.
• Free standard checks or discounts on certain styles.
• No fee for incoming domestic wire transfers, stop payments, and more.
Linking additional accounts for no monthly maintenance fee. We waive the monthly
maintenance fee on the first three linked Advantage Relationship Banking or Advantage
®
with
Tiered Interest Checking accounts and on the first four linked savings accounts of any type that
are linked to your Advantage Relationship Banking account. The minimum amount you need to
open each additional account, and other terms and fees, apply to each linked account.
You must tell us what accounts you want us to link to your Advantage Relationship Banking
account. You can do so by visiting a financial center or calling us at the number on your
statement. We do not automatically link other accounts for pricing. Certain restrictions apply.
Please review “What does it mean to link accounts?” in the Frequently Asked Questions About
Accounts section.
The minimum daily balance is the lowest balance that we determine is in the account during a
statement cycle. This means you will need to ensure your account does not fall below $20,000
during your statement cycle.
If you choose to switch accounts, your account number will not change but some features may
not be available.
Page 5
Personal Savings Accounts
Account
Bank of America
Advantage Savings
• Interest bearing account
• Variable interest rate
• No Overdraft Item Fees
• Potential for Preferred
Rewards interest rate
booster feature
• Minimum amount
to open - $100.00
Monthly Maintenance Fee and How to Avoid It
Monthly maintenance fee - $8.00
For new accounts, we will waive the monthly maintenance
fee for six months from account opening. This waiver does
not apply if your account has been converted or changed to a
Bank of America Advantage Savings account.
To avoid the monthly maintenance fee, meet one of the
following requirements during each statement cycle (after the
expiration of any applicable waiver):
• Maintain a minimum daily balance of $500 or more in your
account
Or
• Ask us to link your account to your Bank of America
Advantage Relationship Banking, Bank of America
Advantage
®
with Tiered Interest Checking or
Bank of America Advantage
®
Regular Checking accounts
(first 4 savings accounts)
Or
• Are enrolled in the Preferred Rewards program and qualify
for the Gold, Platinum or Platinum Honors tier (first 4
savings accounts) or Diamond or Diamond Honors tier
(unlimited)
Or
• An owner of this account is under the age of 25.
Please also review the Other Account Fees and Services section, Frequently Asked Questions About
Accounts section and the Deposit Agreement and Disclosures for information on how to link eligible
accounts to avoid the Monthly Maintenance Fee.
02/2024
Other Important Account Information
• You may not write checks on this account.
• This account is eligible for the interest rate booster feature of the Preferred Rewards program,
which may increase your interest rate based on your Preferred Rewards tier.
• This account is set to the Decline All Overdraft Setting. This means that when we determine that
you do not have sufficient available funds in your account to cover an item, we will decline or
return it unpaid. You may be assessed a fee by a merchant if this happens. Please see the
“Other Important Account Information” section for more details.
• This account is not eligible to be enrolled in Balance Connect
®
as a covered account, but can be
linked as a backup account.
The minimum daily balance is the lowest balance that we determine is in the account each
business day during a statement cycle. This means you will need to ensure your account does not
fall below $500 during your statement cycle.
Fiduciary accounts, including UTMA/UGMA, do not qualify for the under the age of 25 requirement
to waive the monthly maintenance fee.
Linking accounts. You must tell us what accounts you want us to link to your Advantage
Relationship Banking, Advantage
®
with Tiered Interest Checking or Advantage
®
Regular
Checking account. You can do so by visiting a financial center or calling us at the number on your
statement. We do not automatically link other accounts for pricing. Certain restrictions apply.
Please review “What does it mean to link accounts?” in the Frequently Asked Questions About
Accounts section.
Page 6
Personal CD/IRA Accounts
Account Minimum Amount
You Need to Open
Account
Account Features /
Services
Fixed Term CD
Terms of 7 Days — 27
Days
$15,000 • Interest rate fixed until maturity.
• No additional deposits until
maturity.
• Automatically renews.
Fixed Term CD
Terms of 28 Days — 10
Years
$1,000 • Interest rate fixed until maturity.
• No additional deposits until
maturity.
• Automatically renews.
Featured CD/IRA
See deposit rate sheet
for minimum opening
amount
• Interest rate fixed until maturity.
• No additional deposits until
maturity.
• Automatically renews.
• See deposit rate sheet for
available terms.
Flexible CD/IRA
See deposit rate sheet
for minimum opening
amount
• Interest rate fixed until maturity.
• No additional deposits until
maturity.
• Automatically renews.
• See deposit rate sheet for
available terms.
Fixed Term IRA
Terms of 6 Months — 10
Years
$1,000 • Interest rate fixed until maturity.
• No additional deposits until
maturity.
• Automatically renews.
Please also review the Other Account Fees and Services section and the Deposit Agreement and
Disclosures. The Deposit Agreement and Disclosures contains information about the early withdrawal
penalty and other terms for CDs. Also, see the Traditional/Roth Individual Retirement Custodial Accounts
and Disclosure Statements for additional IRA information.
02/2024
Other Important Account Information
• A penalty is imposed for early withdrawal.
• A penalty is imposed for early withdrawal.
• For CDs with terms of 30 days or more, we send you a maturity notice prior to renewal.
Please read it carefully. We may change the type, term or other features of your CD by giving
you notice. If we make a change, we tell you about the change in the maturity notice.
• A penalty is imposed for early withdrawal.
• For CDs with terms of 30 days or more, we send you a maturity notice prior to renewal.
Please read it carefully. We may change the type, term or other features of your CD by giving
you notice. If we make a change, we tell you about the change in the maturity notice.
• A penalty of 7 days interest will be imposed for early withdrawals within the first 6 days of the
account term (or within the first 6 days following any partial withdrawal during the initial or
any renewal term).
• If your account has not earned enough interest to cover an early withdrawal penalty, we
deduct any interest first and take the remainder of the penalty from your principal.
• See Deposit Agreement and Disclosures and deposit rate sheet for additional detail.
• We send you a maturity notice prior to renewal. Please read it carefully. We may change the
type, term or other features of your CD by giving you notice. If we make a change, we tell you
about the change in the maturity notice.
• A penalty is imposed for early withdrawal.
• We send you a maturity notice prior to renewal. Please read it carefully. We may change the
type, term or other features of your CD by giving you notice. If we make a change, we tell you
about the change in the maturity notice.
Page 7
Personal CD/IRA Accounts (cont.)
Account Minimum Amount
You Need to Open
Account
Account Features /
Services
Variable Rate IRA
$100 • Variable interest rate. Your
Terms of 18 Months —
interest rate and annual
23 Months
percentage yield may change. At
our discretion, we may change
the interest rate and annual
percentage yield on your account
at any time.
• Additional deposits allowed
during term.
• Automatically renews.
• Make saving easier with
automatic transfers.
Money Market IRA
$100 • Variable interest rate. Your
interest rate and annual
percentage yield may change. At
our discretion, we may change
the interest rate and annual
percentage yield on your account
at any time.
• Additional deposits allowed at
any time.
• Make saving easier with
automatic transfers.
Please also review the Other Account Fees and Services section and the Deposit Agreement and
Disclosures. The Deposit Agreement and Disclosures contains information about the early withdrawal
penalty and other terms for CDs. Also, see the Traditional/Roth Individual Retirement Custodial Accounts
and Disclosure Statements for additional IRA information.
02/2024
Other Important Account Information
• A penalty is imposed for early withdrawal.
• We send you a maturity notice prior to renewal. Please read it carefully. We may change the
type, term or other features of your CD by giving you notice. If we make a change, we tell you
about the change in the maturity notice.
• This is a savings account.
• Withdrawals by check, draft or debit card are not allowed.
Page 8
Other Account Fees and Services
Fee Category
ATM Card and
Debit Card Fees
Fee Name/Description
Rush Replacement ATM or Debit
Card Fee
Fee Amount
$15.00 per card
Non-Bank of America Teller
Withdrawal Fee
International Transaction Fee
For each transaction, the
greater of $5.00 OR 3% of the
dollar amount
of the transaction, up
to a maximum of $10.00
3% of the U.S. dollar
amount of the transaction
Please also review the Deposit Agreement and Disclosures.
02/2024
Other Important Information About This Fee
• Fee for each requested rush delivery of a card or other debit access device.
• Preferred Rewards members, or clients that ask for a rush replacement ATM or Debit card due
to a fraud event, qualify for a waiver of this fee.
• Fee applies when you authorize another financial institution to use your card or card number
to conduct a transaction (such as a withdrawal, transfer, or payment) and the other financial
institution processes the transaction as a cash disbursement.
• Fee applies if you use your ATM or Debit card to purchase goods or services in a foreign
currency (a “Foreign Transaction”). Foreign Transactions include internet transactions made in
the U.S. but with a merchant who processes the transaction in a foreign currency.
• Fee also applies if you use your card to obtain foreign currency from an ATM. Visa
®
or
Mastercard
®
converts the transaction into a U.S. dollar amount, and the International
Transaction Fee applies to that converted U.S. dollar amount. ATM fees may also apply to ATM
transactions. See ATM Fees section.
• Preferred Rewards Diamond and Diamond Honors tier members qualify for a waiver of the
International Transaction Fee.
• See disclosure information that accompanied your card for more information about this fee.
Page 9
Other Account Fees and Services (cont.)
Fee Category Fee Name/Description Fee Amount
ATM Fees
Bank of America
ATM — an ATM that
prominently displays
the Bank of America
name and logo on the
ATM
Non-Bank of America
ATM — an ATM
that does not
prominently display
the Bank of America
name and logo on the
ATM
Withdrawals, deposits, transfers,
payments and balance inquiries at
a Bank of America ATM
Non-Bank of America ATM Fee for:
Withdrawals, transfers
and balance inquiries at a
non-Bank of America ATM in
the U.S.
Non-Bank of America ATM Fee for:
Withdrawals, transfers
and balance inquiries at a
non-Bank of America ATM in a
foreign country
No ATM fee
$2.50 each
$5.00 each
Check Cashing—
Bank of America
customer
No Check Cashing Fee
Check Cashing—
Nonrelationship
customer
Applies to checks drawn on
Bank of America personal
accounts including checks issued
through Online or Mobile Bill Pay
$8.00 per check for amounts
greater than $50.00.
Check Image
Service
Check Image Service No fee
Please also review the Deposit Agreement and Disclosures.
02/2024
Other Important Information About This Fee
• Deposits and payments may not be available at some ATMs. Transaction fees may apply to
some accounts. See account descriptions in this schedule.
• When you use a non-Bank of America ATM, you may also be charged a fee by the ATM
operator or any network used and you may be charged a fee for a balance inquiry even if you
do not complete a funds transfer.
• The non-Bank of America ATM fees do not apply at some ATMs located outside the United
States. Call us before you travel internationally for current information about banks
participating in the program.
• Non-Bank of America ATM fees are in addition to other account fees that may apply to the
transaction.
• Preferred Rewards Platinum members using a Bank of America Debit or ATM card are not
charged the non-Bank of America ATM fee for one withdrawal, transfer and balance inquiry per
statement cycle from a non-Bank of America ATM in the U.S., and receive a refund of the ATM
operator fee for one withdrawal, transfer and balance inquiry per statement cycle from a
non-Bank of America ATM in the U.S.
• Preferred Rewards Platinum Honors, Diamond and Diamond Honors members using a
Bank of America Debit or ATM card are not charged the non-Bank of America ATM fee for
withdrawals, transfers and balance inquiries from non-Bank of America ATMs in the U.S., and
receive a refund of the ATM operator fee for withdrawals, transfers and balance inquiries from
non-Bank of America ATMs in the U.S.
• Preferred Rewards Diamond and Diamond Honors members using a Bank of America Debit or
ATM card are not charged the non-Bank of America ATM fee for withdrawals, transfers and
balance inquiries from non-Bank of America ATMs in a foreign country.
• See the disclosure information that accompanied your card for other fees that may apply.
A fee may be assessed to a payee presenting a check that you issued if the payee is not a
Bank of America relationship customer.
A Bank of America relationship customer is an account owner of a deposit account (checking,
savings, CD), Individual Retirement Account (IRA), loan, credit card, mortgage, safe deposit
box or a Merrill Investment account.
• Effective May 17, 2024, we will no longer provide check image service for paper statements.
• Our Online Banking service allows you to view and print copies of checks that posted to your
account within the last 18 months.
Page 10
Other Account Fees and Services (cont.)
Fee Category Fee Name/Description Fee Amount
Copies
Check Copy Fee
Deposit Slips and other Credit
Items
Statement Copy Fee
No fee for the first two copies
of each request. After two
copies, there is a $3.00 fee for
each copy up to a maximum of
$75.00 per request.
No fee for the first two copies
of each request. After two
copies, there is a $3.00 fee for
each copy up to a maximum of
$75.00 per request.
$5.00 per copy
IRA
IRA Direct Custodian Transfer
Processing Fee
$50.00 each plan, each
occurrence
Please also review the Deposit Agreement and Disclosures.
02/2024
Other Important Information About This Fee
• Bank of America Advantage Relationship Banking, Bank of America Advantage
®
with Tiered
Interest Checking and Bank of America Advantage
®
Regular Checking accounts plus Preferred
Rewards members qualify for a waiver of this fee.
• This fee does not apply to accounts opened in Massachusetts and New Hampshire.
• You can avoid the fee by viewing and printing your available checks in Online Banking,
instead of ordering the copy from us. For information about what checks are available in
Online Banking, please review the Activity tab.
• Bank of America Advantage Relationship Banking, Bank of America Advantage
®
with Tiered
Interest Checking and Bank of America Advantage
®
Regular Checking accounts plus Preferred
Rewards members qualify for a waiver of this fee.
• This fee does not apply to accounts opened in Massachusetts and New Hampshire.
• You can avoid the fee by viewing and printing your available Deposit Slips and other Credit
Items in Online Banking, instead of ordering the copy from us. For information about what
Deposit Slips and other Credit Items are available in Online Banking, please review the
Activity tab.
• Bank of America Advantage Relationship Banking, Bank of America Advantage
®
with Tiered
Interest Checking and Bank of America Advantage
®
Regular Checking accounts plus Preferred
Rewards members qualify for a waiver of this fee.
• You can avoid the fee by viewing and printing your available statements in Online Banking,
instead of ordering the copy from us. For information about what statements are available in
Online Banking, please review the Statements and Documents tab.
• This fee does not apply to your monthly statement delivery. It only applies when you request
paper copies of your statements.
• Fee for transferring funds to another institution.
Page 11
Other Account Fees and Services (cont.)
Fee Category Fee Name/Description Fee Amount
Overdraft Items
(an overdraft item)
Overdraft Item Fee $10.00 each item
Bank of America
Advantage SafeBalance
Banking,
Bank of America
Advantage Savings
and Minor Savings do
not have Overdraft
Item Fees
Please also review the Deposit Agreement and Disclosures.
02/2024
Other Important Information About This Fee
• During nightly processing, when we determine that you do not have enough available funds in
your account to cover an item, then we either pay the item and overdraw your account (an
overdraft item), or we return the item unpaid (a returned item).
• Some common examples of “items” are a check or other transaction made using your
checking account number, an everyday non-recurring debit card transaction, a recurring debit
card transaction, an ATM withdrawal, an ACH submission, and an Online or automatic bill
payment. Please see the Deposit Agreement and Disclosures for more information about
“items”, overdrafts, declined or returned items and for information about how we process and
post items.
• We charge an Overdraft Item Fee for each overdraft item, but will not charge this fee for more
than 2 overdraft items per day.
• We do not charge an Overdraft Item Fee:
- When we return an item unpaid due to insufficient funds, but you may be charged a fee(s)
by the payee for the returned item
- On everyday non-recurring debit card transactions or ATM transactions
- On items that were authorized when your account had sufficient available funds
- On any item that is $1 or less or any item that overdraws your account by $1 or less
- On accounts with the Decline All Overdraft Setting, even if the account becomes overdrawn
- On any ACH submission labeled as a “RETRY PYMT” or “REDEPCHECK” in the data
transmitted through the ACH network (see more details below)
• Preferred Rewards Diamond tier members are eligible to have one Overdraft Item Fee waived
per statement cycle and Diamond Honors tier members are eligible to have all Overdraft Item
Fees waived.
• Under the NACHA Operating Rules, a merchant or payee, or its financial institution is required
to label an ACH submission that has been resubmitted after the previous submission was
returned for insufficient funds as a “RETRY PYMT” or “REDEPCHECK”. We do not charge you
an Overdraft Item Fee on any ACH submission labeled as a “RETRY PYMT” or “REDEPCHECK”
in the data transmitted through the ACH Network. For example, if you authorize your cable
company to debit your account on a one-time or recurring basis or through an electronic
check and the resulting ACH submission is returned for insufficient funds, we will not charge
you an Overdraft Item Fee on a resubmission as long as the resubmission bears the “RETRY
PYMT” or “REDEPCHECK” label. However, because we cannot reliably identify ACH
resubmissions that are not labeled “RETRY PYMT” or “REDEPCHECK” by the merchant or
payee, or its financial institution, if your cable company resubmits the ACH submission
without the “RETRY PYMT” or “REDEPCHECK” label, you may incur an additional and separate
Overdraft Item Fee. We have no control over how merchants label their ACH submissions or
resubmissions. If you believe that a resubmitted electronic transfer was mislabeled and you
were improperly charged an Overdraft Item Fee, you must notify the Bank within the
timeframes established by the Deposit Agreement and Disclosures and the Electronic Fund
Transfer Act. See Deposit Agreement and Disclosures sections titled Reporting Problems and
Funds Transfer Services.
• For information about our Balance Connect
®
for overdraft protection service, overdraft
practices and overdraft settings, please see our Deposit Agreement and Disclosures and our
What You Need to Know about Overdrafts and Overdraft Fees notice.
Page 12
Other Account Fees and Services (cont.)
Fee Category Fee Name/Description Fee Amount
Miscellaneous
Check and Deposit Ticket Orders
Fee varies
Legal Process Fee
$125.00 each occurrence
(or such other rate as may be
set by law}
Stop Payment Fee
$30.00 each request
Please also review the Deposit Agreement and Disclosures.
02/2024
Other Important Information About This Fee
• Bank of America Advantage Relationship Banking, Bank of America Advantage
®
with Tiered
Interest Checking and Bank of America Advantage
®
Regular Checking accounts plus Preferred
Rewards Gold, Platinum, Platinum Honors and Diamond tier members qualify for free
standard checks or discounts on certain designs. Diamond Honors tier members qualify for
free checks and deposit tickets without a style limitation and a waiver of the expedited
delivery fee.
• We may change the fees for check and deposit ticket orders at any time. Visit a financial
center or call us at the number on your statement for current fees.
• Fee applies to each legal order or process that directs us to freeze, attach or withhold funds
or other property, such as an attachment, levy or garnishment.
• Bank of America Advantage Relationship Banking, Bank of America Advantage
®
with Tiered
Interest Checking and Bank of America Advantage
®
Regular Checking accounts plus Preferred
Rewards members qualify for a waiver of this fee.
• There is no charge to place a stop payment on debit card or Bill Pay transactions.
Page 13
Other Account Fees and Services (cont.)
Fee Category Fee Name/Description Fee Amount
Miscellaneous
Wire Transfers, Incoming or
Outgoing (U.S. or International)
• Domestic outgoing wire: $30
• Domestic incoming wire:
$15
• International outgoing wire
in U.S. dollars: $45
• International outgoing wire
in foreign currency: $0
• International incoming wire:
$15
For international wire
transfers, other fees or
amounts may also apply,
including those charged
by the recipient’s financial
institution, foreign taxes, and
other fees that sometimes
are part of the wire transfer
process.
Please note that you may
be able to transfer money
to or receive money from
third parties within the U.S.
without incurring a fee or
with a reduced fee, including
by using Zelle
®
, depending
on a number of factors and
the type of service that you
choose (see the Online
Banking Service Agreement,
available at https://www.
bankofamerica.com/online-
banking/service-agreement.
go).
Please also review the Deposit Agreement and Disclosures.
02/2024
Other Important Information About This Fee
• Bank of America Advantage Relationship Banking, Bank of America Advantage
®
with Tiered
Interest Checking and Bank of America Advantage
®
Regular Checking accounts plus Preferred
Rewards members qualify for a waiver of our standard wire fee for an incoming domestic wire
transfer. The standard wire fee for incoming international wire transfers is waived for Preferred
Rewards (Platinum, Platinum Honors, Diamond and Diamond Honors) members.
• Preferred Rewards Diamond tier members qualify for a waiver of the outgoing domestic and
international wire transfers fees (2 per statement cycle). Diamond Honors tier members qualify
for unlimited waivers of these fees. Fees are not waived for Diamond or Diamond Honors
members using “The Direct Payments Service”, the online service for Small Business clients.
• We’re required by law to inform you of the exact fees you will incur for international wires,
including fees from other banks. If we do not have the exact fees from other banks, we will not
be able to process the request.
Foreign Currency Exchange Fees and Rates
• Markups associated with the currency conversion are included in the Bank of America
exchange rate.
• When deciding between sending in foreign currency or U.S. Dollars, you should consider
factors that impact the total cost to send or the amount available after transfer, such as
exchange rates and other fees.
Page 14
Frequently Asked Questions About Accounts
This section covers some of the features and services that may apply to your account.
What other agreements have terms that apply to my deposit account?
In addition to the terms in this Schedule of Fees, the terms in the Deposit Agreement and
Disclosures, the signature card for your account and the other account opening documents
govern your account and are part of the binding contract between you and us for your
account. Please read these documents carefully.
What are paperless statements?
With the paperless statement option, you get your account statement electronically
through Online Banking and you do not get a paper statement. You can enroll in paperless
statements at a financial center or through Online Banking. When you enroll at a financial
center, you’ll need to log into Online Banking from your computer to confirm your choice.
What is a direct deposit?
A direct deposit is an electronic deposit of funds to a checking or savings account.
For Bank of America Advantage Plus Banking accounts, qualifying direct deposits are
deposits of regular monthly income — such as your salary, pension, or Social Security
benefits — which are made by your employer or other payer using the account and routing
numbers that you provide to them.
Other types of transfers and deposits do not qualify for the waiver of the monthly
maintenance fee. Examples of non-qualifying transfers and deposits include: teller deposits,
wire transfers, Online and Mobile Banking transfers, transfers from one account to another,
and ATM transfers and deposits.
What does variable rate mean?
Funds in an interest bearing checking or savings account earn a variable interest rate. This
means that your interest rate and annual percentage yield may change after the account is
opened. At our discretion, we may change your interest rate and annual percentage yield at
any time.
What does it mean to link accounts?
You can link some of your other accounts with us either to your Bank of America
Advantage
®
with Tiered Interest Checking, Bank of America Advantage
®
Regular Checking
or Regular Checking account for pricing to help you meet the balance required to avoid
the monthly maintenance fee on your checking account. When you link another account
for pricing, you can use the balances in the other account to help you meet the balance
required to avoid the monthly maintenance fee on your checking account. You must tell us
what other accounts you want us to link to your checking or banking account. An account
can only be linked for pricing to one checking or banking account at a time. We do not link
your other accounts for pricing unless you tell us to do so.
Some restrictions apply to what accounts can be linked. See below and the Combined
Balance Service section in the Deposit Agreement and Disclosures for information.
When a new account is opened to replace an existing account, we do not automatically
link the new account to your checking or banking account for pricing, even if the existing
account was linked. You must tell us to link the new account. As examples, when you
refinance your mortgage loan, the refinanced loan is a new account. Whenever we change
the account number of your checking account, we close the current checking account and
02/2024
open a new checking account. In both examples, the replacement account is a new account
and, if you want us to link it to your checking or banking account for pricing, you need to tell
us to link the new account.
For linked accounts, we may send you a monthly statement that reports account
information for all of your linked accounts instead of separate statements for each account.
Does Bank of America Advantage Relationship Banking
®
offer combined
balances as a way to avoid the monthly maintenance fee?
Combined balances is no longer available as a way to avoid the monthly maintenance
fee for Advantage Relationship Banking. However, you may meet the combined balance
requirement for enrollment in the Preferred Rewards program; and, your enrollment in
Preferred Rewards will waive the monthly maintenance fee of your Advantage Relationship
Banking. Please review the Preferred Rewards section.
What Bank of America first mortgage loans can qualify for a waiver of the
monthly maintenance fee on a Bank of America Advantage
®
with Tiered Interest
Checking or Bank of America Advantage
®
Regular Checking account?
We currently service many mortgage loans we make. If we service your Bank of America
first mortgage loan, you can have us link the loan to your Bank of America Advantage
®
with Tiered Interest Checking or Bank of America Advantage
®
Regular Checking account.
Sometimes we sell mortgage loan servicing to other companies. If we sell the servicing on
your mortgage loan, then the loan is no longer eligible to be used for this waiver.
What limits apply to linking accounts?
Some restrictions apply to what accounts can be linked to a checking account, including the
following. You can generally link savings, Individual Retirement Account (IRA) and CD, and
some checking and Merrill investment accounts to your checking account. You may only
link an account to one checking account at a time. To link additional accounts to a checking
account, at least one of the owners of the linked additional account must also be an owner
of the checking account. You may not link personal and business accounts together.
You may not link custodial accounts, such as UTMA or UGMA accounts, for pricing or other
program benefits.
We may in our discretion place other restrictions on what accounts can be linked.
Are the statement cycles for linked accounts the same?
When you link accounts for pricing, the statement cycles are generally different. If you use
a combined statement for your checking and savings accounts, the statement cycles for the
linked checking and savings accounts are generally the same.
(continued)
Page 15
What are combined statements?
A combined statement is one statement that reports activity for your checking or Advantage
Banking account and each deposit account linked to that account, instead of separate
statements for each account. In most cases we do not automatically send you a combined
statement. You must generally request a combined statement and tell us to link the
accounts you want included in the combined statement.
When linked accounts are reported on the combined statement, you understand and
agree that each owner of any linked account can review information about all other linked
accounts. You should not link accounts that you do not want others to see. Please read the
information about Combined Statements in the Deposit Agreement and Disclosures.
Keep the Change
®
Savings Service
When you enroll in our Keep the Change savings service, we round up the amount of
Bank of America debit card purchases made by you or a joint owner of your checking
account to the next whole dollar amount, and transfer the amount in excess of the purchase
price to your savings account.
We aggregate the round-up from purchases that post to your checking account each
business day and make a single transfer (the “Keep the Change” transfer) at the end of
the business day. If on a business day you do not have sufficient available funds in your
checking account, or if any transaction has overdrawn your checking account, we do not
round-up purchases posted on that business day and we cancel the Keep the Change
transfer for that day.
If your debit card purchase is subsequently cancelled or reversed, the corresponding Keep
the Change transfer will remain in the savings account. We may cancel or modify the Keep
the Change service at any time. Should you have any questions on the Keep the Change
program, please contact your nearest financial center.
Keep the Change
®
Patent No. US 8,301,530B2.
Other Important Account Information for
Bank of America Advantage SafeBalance
Banking
®
Account
This section covers some of the features and services that may apply to your account and
amends certain sections of the Deposit Agreement and Disclosures.
How does the Deposit Agreement and Disclosures apply to my Advantage SafeBalance
Banking account?
In addition to the terms in this Schedule of Fees, the terms in the Deposit Agreement and
Disclosures, the signature card for your account and the other account opening documents
govern your account and are part of the binding contract between you and us for your
account. Please read these documents carefully. Certain sections of the Deposit Agreement
and Disclosures that are changed are noted in this section and in the Overview.
NOTE: The following two questions amend the “Insufficient Funds – Overdrafts and
Returned Items” section of the Deposit Agreement and Disclosures. That section is deleted
and replaced with the information in these two questions.
02/2024
My account is overdrawn. I thought I could not overdraft my Advantage SafeBalance
Banking account?
While we attempt to limit overdrafts on your Advantage SafeBalance Banking account,
at times overdrafts still occur. Here is an example of how that may happen: On Monday
we authorize a debit card transaction because you have enough available funds at the
time. An authorization hold is then placed on your funds. On Tuesday we process and post
another transaction, such as an automatic payment you previously set up. If the merchant
presents the original debit card transaction for payment on Wednesday, and your available
funds are now below the amount needed to pay the transaction, the debit card transaction
will overdraw your account. We will not charge you an Overdraft Item Fee if this happens.
However, you may be assessed a fee by the merchant. It is your responsibility to monitor
your account balance and ensure you have enough funds in your account to cover your
transactions.
Sometimes funds in your account are not available to cover your items. When we determine
that funds in your account are subject to a hold, dispute, or legal process, then these funds
are not available to cover your checks and other items. We usually make this determination
during nightly processing. Examples of holds include deposit holds and authorization holds
for transactions we have authorized, but not yet posted to your account, such as for debit
card transactions, cash withdrawals at an ATM or financial center, transfers using Zelle
®
, or
transfers between certain types of accounts you own such as from a checking account to a
savings account.
What overdraft setting is applied to Advantage SafeBalance Banking accounts?
We automatically apply our Decline All Overdraft Setting to your Advantage SafeBalance
Banking account. With the Decline All Overdraft Setting, we do not authorize or pay any
transaction unless we determine that at the time of the transaction you appear to have
enough available funds in your account to cover the transaction. This means that we will
decline or return these transactions unpaid. You may be assessed a fee by the merchant if
this happens.
What happens if a merchant wants to use my account number and routing number for a
payment?
Be careful when you give out your account number and routing number to an originator that
you authorize to process debits from your account. At times, an originator may process such
a payment as a check and submit it to us instead of an ACH (Automated Clearing House)
transaction. Those checks may be rejected and not paid. You may be charged a fee by the
originator if this happens. If you give anyone your account number and routing number,
make sure it is for an ACH transaction only. You may want to ask if the merchant can use
your debit card number instead. Please see the Deposit Agreement and Disclosures for
more details about ACH transactions.
How do I pay my bills if I don’t have checks? What if I need to write a check?
You can pay bills and make payments with your debit card, a wire transfer, an Automated
Clearing House transaction (ACH), Zelle
®
, or through our Online and Mobile Banking Bill Pay
service. If you need to write checks on a regular basis and these alternatives do not work
for you, you may need a traditional checking account that offers check-writing capability.
Cashier’s checks are also available for a fee in our financial centers.
Page 16
What happens if my employer asks for a voided check for direct deposit?
For Advantage SafeBalance Banking, a voided check cannot be provided as a method to set
up direct deposit. There are a couple of options you can choose from to set up a direct deposit
on your account.
(i) You can provide your employer the account number and routing number and indicate that
it is a checking account.
OR
(ii) You can complete the printable direct deposit enrollment form in Online Banking or ask us
for the direct deposit enrollment form that you can provide to your employer.
What happens to checks I have written from my existing personal checking account if I
switch my account to Advantage SafeBalance Banking?
If you switch from your existing personal checking account to an Advantage SafeBalance
Banking account, we will continue to process checks for 60 days. After the 60 day period,
all paper checks that you have written will be returned unpaid even when sufficient funds
are available in the account to cover the check. When this happens, the payee may charge
you a fee(s) for the returned payment.
02/2024
Preferred Rewards
You are eligible for the Preferred Rewards program when you:
(i) have an active, eligible personal checking account with Bank of America,
®
and
(ii) maintain the balance required for one of the balance tiers in any combination of eligible
deposit accounts with Bank of America and/or eligible Merrill or Private Bank investment
balances.
You can satisfy the combined balance requirement for enrollment with either:
(i) your average daily balance for a three calendar month period, or
(ii) your current combined balance, provided that you enroll at the time you open your first
eligible personal checking account and satisfy the balance requirement at the end of at
least one day within thirty days of opening that account.
Once you are eligible, you can enroll for program benefits. Eligibility to enroll is generally
available three or more business days after the end of the calendar month in which you
satisfy the requirements.
Your benefits become effective within 30 days of your enrollment, or for new accounts within
30 days of account opening, unless we indicate otherwise. Some benefits are automatically
activated upon the effective date of your enrollment and require no action on your part.
Some benefits may require you to open a new account or take other action. Some benefits
are available based on balances and other requirements without the need to enroll. Read
carefully the terms of any offer to understand the action required.
Different benefits are available at different balance tiers. The balance tiers and their
qualifying combined balance amounts are: Gold, at and above $20,000; Platinum, at
and above $50,000; Platinum Honors, at and above $100,000; Diamond, at and above
$1,000,000; and Diamond Honors, at and above $10,000,000. Bank of America Private
Bank clients qualify to enroll in at least the Diamond tier, and may qualify for the Diamond
Honors tier based on their qualifying Bank of America, Merrill, and Private Bank balances.
You will qualify for the next higher balance tier when your three-month combined average
daily balance meets or exceeds the minimum amount for that balance tier. You will be
moved to a higher balance tier starting in the month after the month in which you satisfy the
combined balance requirement.
We will perform an annual review of your qualifying balances in the month following the
anniversary date of your initial enrollment in the program. The annual review will calculate
your three-month combined average daily balance as of the end of your anniversary month. If
the result of the annual review calculation would be to move you to a lower tier, you will have
a three-month period from your anniversary month in which to restore your qualifying balance
before you are moved to that lower balance tier. If you are moved to a lower balance tier, your
benefits may be changed to those of the balance tier for which you qualify without further
notice. Please note that while you can be moved to a higher balance tier after any month in
which you satisfy the three-month combined average daily balance requirement for that tier,
you will only be moved to a lower balance tier as a result of the annual review.
At the annual review, we will also confirm that you still have an active, eligible personal
checking account with Bank of America. If as a result of the annual review you do not qualify
for any balance tier, or you no longer have an eligible checking account, and you do not
sufficiently restore your balances or open an eligible checking account in the three months
after your anniversary month, your qualification will discontinue. Your benefits may then be
discontinued immediately without further notice.
Page 17
You or we may terminate your enrollment at any time. We may change or terminate program
benefits at any time, without prior notice.
Only personal accounts that you own, and that in our determination are in good standing,
count toward your balance requirements and receive benefits. Accounts that we do not
recognize as accounts of the same owner, due to inconsistent identifying information, will not
be counted together to qualify for eligibility or benefits. Accounts on which you are a signer
but not an owner, or accounts included in your periodic statement on which you are not an
owner, are not eligible.
Business accounts do not count towards the checking account requirement or balance
requirements for the program, and will not be eligible to receive program benefits. Preferred
Rewards for Business is Bank of America’s rewards program for business accounts. Your
business accounts may qualify separately for Preferred Rewards for Business.
See below for examples of accounts that do and do not qualify for the combined balance
calculation:
Qualify
Accounts on which you are an owner or co-owner, including -
•Bank of America deposit accounts: Checking, Bank of America Advantage Banking,
Bank of America Advantage SafeBalance Banking accounts, Savings, CD, and IRA accounts
•Merrill and Private Bank investment accounts, such as the Cash Management Account
(CMA), and IRA accounts (Traditional, Roth, Rollover, SEP, Simple)
•529 plans appearing on your Merrill statement (except 529 plans owned in Uniform
Transfers to Minors Act (UTMA)/Uniform Gifts to Minors Act (UGMA) form)
•Revocable grantor trust accounts
Do Not Qualify
•Accounts on which you’re not an owner or co-owner. For example, accounts on which your
role is Custodian, Administrator, Power of Attorney, Beneficiary, Guardian, or Executor
•
Uniform Transfers to Minor Act (UTMA) and Uniform Gifts to Minors Act (UGMA) accounts
•
Business accounts or commercial accounts
•
Irrevocable trust accounts
•
Employee Benefit plans (such as 401(k) plans)
•
Annuities
•Assets for which daily market quotations are not readily available
Not all products and services eligible for benefits under the Preferred Rewards program are
available in all locations. Please contact 888.888.RWDS (888.888.7937), or if you are a
Merrill Lynch Wealth Management or Bank of America Private Bank client contact your advisor,
for details about which products and services are available in your location.
Bank of America employees and retirees are eligible for additional Preferred Rewards program
benefits. If you no longer meet the requirements for employee status, standard program terms
apply.
Employees of companies participating in the Bank of America Employee Banking and
Investing Program may be eligible to enroll on customized terms. Please visit https://promo.
bankofamerica.com/cebi-disclosures for details.
02/2024
Notice for New York Deposit Account Customers:
New York consumers can file complaints with the New York Department of Financial Services
if a consumer is not satisfied with the services a banking institution provides. The toll free
consumer hotline for the New York Department of Financial Services is (800) 342-3736.
Notice for Maine Deposit Account Customers:
If you have a dispute with us regarding your deposit account, you may contact us and attempt
to resolve the problem directly. If you feel we failed to resolve the problem, communicate the
problem and the resolution you are seeking to:
Bureau of Financial Institutions
36 State House Station
Augusta, ME 04333-0036
To file a complaint electronically, you may contact the Bureau of Financial Institutions at the
following internet address: http://www.maine.gov/pfr/financialinstitutions/complaint.htm
The Bureau of Financial Institutions will acknowledge receipt of your complaint promptly and
investigate your claim. You will be informed of the results of the investigation.
When your complaint involves a federally-chartered financial institution, such as
Bank of America, the Bureau of Financial Institutions will refer it to the appropriate federal
supervisory agency and inform you to whom it has been referred.
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