Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range can also impact how and where products appear on this site. Please see your Personal Schedule of Fees for more details. Find out everything you need to know about them below: The Advantage SafeBalance Banking checking account has safeguards in place to help you keep spending within the bounds of your account balance. The editorial content on this page is based solely on objective, independent assessments by our writers and is not influenced by advertising or partnerships. Rush delivery fees are waived for Preferred Rewards clients. But if you sign up for overdraft protection, BofA will transfer funds from a linked account to cover overdrafts. The Bank of America savings account requires a daily minimum balance of $500 in order to maintain the account. You'll be charged an $8 monthly maintenance fee, unless you meet one of Bank of America'slisted criteria, such as maintaining a minimum balance of $500 or linking to Bank of America Advantage Relationship Banking. You can write checks and deposit checks on your phone, which cuts down on checking account transfers. Enroll in the Preferred Rewards program and qualify for the Gold, Platinum or Plantinum Honors tier (first 4 savings accounts) or Diamond or Diamond Honors tier (unlimited). We may send you a combined statement for your linked accounts. We won't charge you more than 2 of these fees per day. Preferred Rewards Diamond and Diamond Honors members qualify for a waiver of the International Transaction Fee. Chip Lupo, Credit Card Writer. The restriction of $50,000 per month is placed on accounts that have been in existence for three months or longer. The International Transaction Fee may be waived for certain account relationships. Typically, you can initially deposit more money than is required. Over the course of its history, Bank of America has been honored with a number of J.D. Here's an explanation for how we make money. *Varo's savings account enables you to start earning 1.20% APY and then qualify to earn 5.00% APY. Bank of America Money Market Account is available in 50 states (and Washington, DC). Bankrate.com is an independent, advertising-supported publisher and comparison service. Preferred Rewards clients get this fee waived on standard checks and discounts on certain styles. Bank of America earned 3.2 out of 5 stars in Bankrates overall review of its deposit accounts. While we adhere to strict This fee is assessed as a separate transaction fee on the posting date of the withdrawal. No Monthly maintenance fee for each statement cycle that: At age 18 Minor Savings Account converts to a Bank of America Advantage Savings Account and applicable fees will apply. However, we won't charge this fee for any item that is $1 or less. The offers that appear on this site are from companies that compensate us. To help you avoid overdrawing your account, transactions will be declined and returned unpaid when you don't have enough money in your account. If you maintain a minimum daily balance of $20,000 or more in this account or if you are enrolled in the Preferred Rewards program, you won't be charged this fee. This fee is waived for Diamond (2 per statement cycle) and Diamond Honors (unlimited) Preferred Rewards clients. This is generally known as a minimum balance requirement. The Preferred Rewards program is our way of rewarding you for what you already do, whether it's banking with Bank of America or investing with Merrill. Based in Boston, Marcos Cabello is a personal finance reporter for NextAdvisor and CNET. This article focuses on Bank of. By Mary Clark 17/08/2022 Mary Clark 17/08/2022 The Advantage Plus checking account offered by Bank of America offers more standard features than the SafeBalance banking account. These ads are based on your specific account relationships with us. Heres a closer look at the checking accounts offered by BofA to help you decide whether one is a good choice for you. When the Fed raises the federal funds rate -- as it has several times this year already -- it increases the interest rate banks charge each other for borrowing and lending money. Preferred Rewards Platinum using a Bank of America debit or ATM card will not be charged the non-Bank of America ATM fee and will receive one (1) refund per statement cycle of the ATM operator or network fee for withdrawals, transfers and balance inquiries from non-Bank of America ATMs in the U.S. A Red Ventures company. We will not link your accounts for pricing unless you tell us to do so. That's the minimum amount required to open a Bank of America Advantage SafeBalance Banking account, though most other Bank of America checking and savings accounts require an initial deposit of at least $100. Plus any fee charged by the ATM's operator. Savings account interest rates are finally rising for the first time in years, making them a solid option for safely growing your money. Relationship-based ads and online behavioral advertising help us do that. Depending on the style you choose, this fee waived on standard checks and discounts are applied on non-standard design. This fee is waived for Preferred Rewards Platinum and Platinum Honors, Diamond and Diamond Honors Preferred Rewards Clients. Many of the other fees imposed by Bank of America are waived on the Advantage Relationship account, including card replacement and stop payment fees. 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. Bank of America's $10 fee for up to six extra withdrawals is expensive compared to Chase, which charges $5 per extra withdrawal only up to three times (that's $60 max versus $15 max) Do all. The base APY is 0.01%, but if you're eligible and enroll for the Preferred Rewards program, you can earn up to 0.04%. Bankrates editorial team writes on behalf of YOU the reader. Cash-back deals can be found in the mobile and online banking portals and are credited to your account within 30 days after purchase. If a minimum opening deposit is required for a checking account, for example, its often $25 to $100. Advantage Savings is Bank of America's standard savings account. Use your Bank of America ATM or debit card at one of our International partner ATMs below and avoid the non-Bank of America ATM $5 usage fee for each withdrawal, transfer, or balance inquiry as well as the ATM operator access fee. You can take a number of steps to avoid minimum balance requirements. As of December 2010, higher tiered rates started at balances of $10,000. Printable check images from the last 12 months are available online. The maximum monthly deposit allowed for accounts that have been created for fewer than three months is $2,500.00. Bank of America will assess an International Transaction Fee of 3% of the converted US dollar amount. A minimum opening deposit is a certain amount of moneyusually $25 to $100that a bank or credit union requires you to deposit to open a checking or savings account. Bank of America today introduced Balance Assist, a revolutionary new solution that provides a low-cost way for clients to manage their short-term liquidity needs, borrowing only the amount they need, up to $500. Are an eligible student under age 25. There is no restriction on the amount of money that may be deposited into a Bank of America account via an automated teller machine (ATM); however, depending on the capacity of the ATM, there may be a limit on the number of bills or checks that can be deposited in a single transaction. Log in to enroll Don't have a Bank of America checking account yet? You can withdraw from Advantage Savings six times per month without penalty. Preferred Rewards is a tiered-balance program that allows Bank of America customers to earn additional rewards as their account balances grow. All Rights Reserved. Domestic wire transfer. Bankrate follows a strict editorial policy, so you can trust that our content is honest and accurate. However, for those that do, you may not be able to open an account if you cant come up with the minimum deposit. Open an account with just $100. These financial institutions also may require you to meet certain minimum balance requirements to qualify for an APY or avoid a fee. Checks are not offered with this account; transactions are conducted using a debit card, Zelle and digital banking. As a BofA customer, youll also have access to a large network of bank branches and ATMs. However, only the Advantage Relationship Banking account earns interest on the funds in the account. Here's an overview of Bank of America's CD rates. All rights reserved. One hundred dollars is the bare minimum required to open several accounts with Bank of America. These fees are waived for Diamond Honors (unlimited) Preferred Rewards clients. Please see the Personal Schedule of Fees for details. We'll waive the monthly maintenance fee each statement cycle that you: Make at least one qualifying Direct Deposit of XXXX or more. Fee is waived for the first 2 copies. You can avoid the Monthly Maintenance fee when you meet BOTH of the following requirements during each statement cycle: Maintain a $100.00 minimum daily balance in checking, Have a monthly qualifying direct deposit of at least $100. We do not charge overdraft fees on this account. Home equity line of credit (HELOC) calculator. The cost of fees associated with these accounts can add up quickly if minimum requirements arent met. Please refer to your Personal Schedule of Fees for details. Maintain a minimum daily balance of at least $2500. There are no overdraft fees as the account cannot be overdrawn. Platinum Honors, Diamond and Diamond Honors tier members using a Bank of America debit or ATM card will not be charged the non-Bank of America ATM fee and will receive a refund of the ATM operator or network fee for withdrawals, transfers and balance inquiries from non-Bank of America ATMs in the U.S. Minimum opening deposits vary among banks and credit unions and type of account. Find out more about direct deposits that qualify, Are members of the Preferred Rewards program. To offset the costs, banks increase interest rates on consumer accounts, like credit cards and loans, which makes it more expensive for customers to borrow money. Diamond Honors tier members qualify for unlimited waivers of these fees. She has more than 30 years experience as a writer and editor for newspapers, magazines and online publications. You will be charged no more than XXXX of these fees each statement cycle. For certificates of deposits (CDs), minimum opening deposits could be considerably higher. The account allows you to pay for purchases with a debit card, Zelle, check, or mobile and online banking. No fee on standard checks and discounts on certain styles. What is the deposit limit at Bank of America? The minimum amount needed to open a Bank of America Advantage Savings account is $100, while the Minor Savings Account is $25. Should you accept an early retirement offer? Preferred Rewards clients get this fee waived on standard styles and discounts on certain styles. We are compensated in exchange for placement of sponsored products and, services, or by you clicking on certain links posted on our site. Certificates of deposit (CDs) tend to offer considerably higher APY versus MMAs; however, they keep your money locked in place for a minimum of one year. All of our content is authored by Our banking reporters and editors focus on the points consumers care about most the best banks, latest rates, different types of accounts, money-saving tips and more so you can feel confident as youre managing your money. This month, Bank of America will stop offering eBanking accounts and will instead move customers money into accounts that have monthly maintenance fees if the customer does not meet certain requirements, such as keeping a certain minimum amount or receiving direct deposits. Bank of America's $10 fee for up to six extra withdrawals is expensive compared to Chase, which charges $5 per extra withdrawal only up to three times (that's $60 max versus $15 max). We do not offer financial advice, advisory or brokerage services, nor do we recommend or advise individuals or to buy or sell particular stocks or securities. Instead of allowing an overdraft to occur, BofA will decline your transactions if the funds arent available in your account, avoiding an overdraft fee. We maintain a firewall between our advertisers and our editorial team. MMAs offer better interest rates than savings accounts. What is the most amount that may be deposited into a Bank of America ATM? With a Bank of America Advantage Savings account the more you save the more you could earn Explore Advantage Savings Information for: ZIP code Go Contact us Schedule an appointment 844.375.7028 Enter your zip code Please enter the zip code for your home address so we can give you accurate rate and fee information for your location. When you think of bank accounts that offer the best bang for your buck, your mind might jump to a savings account. Preferred Rewards Diamond and Diamond Honors members using a Bank of America Debit or ATM card will not be charged the International Transaction Fee or the non-Bank of America ATM fee for withdrawals, transfers and balance inquiries from non-Bank of America ATMs in a foreign country. For most of early 2022, the average savings account interest rate in the US was 0.06%. Bank of America savings account options, compared, average savings account interest rate in the US, Do Not Sell or Share My Personal Information, Platinum Honors: 0.04% APY; $100,000 to $1 million, Maintain a minimum daily balance of $20,000 or more, Are enrolled in the Preferred Rewards program. If you exceed these limits on more than an occasional basis, we may convert your account to another type of account and your account may no longer earn interest. Interest rates have fluctuated widely throughout June in response to the rapidly evolving economic situation in the US. High-interest checking accounts may offer a . BofA charges no ATM fees for withdrawn from one of its more than 16,000 ATMs. Opening a standard savings account with Chase and Wells Fargo is also more accessible than Bank of America. Bank of America Advantage SafeBalance Banking Required opening deposit: $25 Interest-bearing account: No Option to add overdraft protection: No Overdraft fees: No overdraft or insufficient funds fees Monthly maintenance fee: $4.95 or $0 Bank of America Advantage Plus Banking Required opening deposit: $100 Interest-bearing account: No If you maintain a minimum daily balance of XXXX or more in this account or if you are enrolled in the Preferred Rewards program, you wont be charged this fee. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence. This fee is assessed as a separate transaction fee on the posting date of the withdrawal. The bank's premier MMA has a competitive APY of 1.20%. We may send you a combined statement for your linked accounts. This compensation may impact how, where and in what order products appear. When you open an account at a bank or credit union, you may come across minimum requirements. You can generally link savings, money market savings, IRAs, CDs, some checking, and Merrill Edge or Merrill Lynch investment accounts. If you deposit cash into your bank account that is greater than $10,000, the bank is required by law to report the transaction to the government. Like the Advantage Plus account, youll have the option to add overdraft protection to cover for any overdraft transactions. Read on for more information about Bank of America's savings account, what APY you can earn and how it compares to other banks. With Balance Connect for overdraft protection, if you're about to overdraw your account, we'll automatically transfer available funds from your linked backup account(s). Balance Assist is the latest offering in a comprehensive selection of financial solutions and services designed to help clients bank confidently and improve their financial lives. If you don't find Marcos behind his computer screen, you'll probably find him behind another screen, playing the newest Nintendo Switch title, streaming the latest TV show or reading a book on his Kindle. The amount required for a minimum balance may differ from the amount required for a minimum deposit. Bank of America is one of the world's largest financial institutions, serving individuals, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. We will not link your accounts for pricing unless you tell us to do so. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories. Therefore, this compensation may impact how, where and in what order products appear within listing categories. After 2 copies there is a $3 fee for each copy up to a maximum of $75 per request. A money market account (MMA) is a deposit account. If you can't satisfy that requirement, consider a savings account without monthly fees such as Capital One's 360 Savings account. Libby Wells covers banking and deposit products. Your financial situation is unique and the products and services we review may not be right for your circumstances. Required fields are marked *. Our editorial team receives no direct compensation from advertisers, and our content is thoroughly fact-checked to ensure accuracy. Choose between a $25 or a $0 monthly maintenance cost. This fee is assessed as a separate transaction fee on the posting date of the withdrawal. He's been a financial writer and editor for more than two decades, working for The Kiplinger Washington Editors, U.S. News & World Report, Bankrate and Dow Jones. We follow strict guidelines to ensure that our editorial content is not influenced by advertisers. editorial integrity, Bring the following items to your scheduled appointment: Your email address will not be published. Option 1: Standard - This setting will be automatically applied to your account. After 2 copies, there is a $3.00 fee for each copy up to a maximum of $75 per request. Editorial Note: We earn a commission from partner links on Forbes Advisor. process and giving people confidence in which actions to take next. $125 for each occurrence (or such other rate as may be set by law). so you can trust that were putting your interests first. Here is a list of our banking partners. For instance, you may be hit with a monthly maintenance fee if your balance falls below the minimum. 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. Each connects to the banks highly rated mobile app to help you manage your finances. That said, as of July 25, 2022, here are some banks offering high APYs. There is no fee per card for rush delivery. Foreign wire transfer sent in foreign currency; other banks may charge additional fees. Power awards. A money market deposit account (MMDA) is a special type of bank or credit union savings account with some features not found in regular savings accounts. The Bank Secrecy Act, which is also known as the Currency and Foreign Transactions Reporting Act, establishes the criteria that banks and other financial institutions must follow in order to report big cash transactions. Perks include higher APYs on savings, credit-card rewards bonuses, reduced mortgage origination fees, interest-rate discounts on home equity and auto loans, and more. When we determine that you don't have enough money in your account to cover an item, we decline or return the item unpaid. Founded in 1976, Bankrate has a long track record of helping people make smart financial choices. Weve maintained this reputation for over four decades by demystifying the financial decision-making Before joining CNET Money, Wojno was Senior Editor of Finance for ZDNet, writing on blockchain, cryptocurrency, financial services, investing and taxes. Fee is waived for Platinum Privileges and Preferred Rewards clients. Per statement cycle that includes a printed check image. However, we may receive compensation when you click on links to products or services offered by our partners. 1 Pay bills. Here's how much APY you can earn and money you'll need for each of the upper-tier accounts: As a Preferred Rewards client, you don't have to pay the $8 monthly fee. Capital One's 360 Performance Savings account doesn't include a fee, but Citibank's Accelerate Savings account does, at $4.50 per month. The maximum monthly deposit allowed for accounts that have been created for fewer than three months is $2,500.00. To avoid the monthly maintenance fee, meet one of the following requirements during each statement cycle: $5,000 or more average daily balance in checking or linked Regular Savings, $10,000 or more average daily balance in checking with linked savings, money market savings, CD and IRA, $15,000 or more outstanding in linked installment loan or line of credit, Any amount in a linked Bank of America first mortgage loan that we service, $15,000 or more total combined assets in linked eligible Merrill Edge and Merrill Lynch investment accounts. Does Bank of America have a free checking account? Link Your Accounts:Link your other eligible accounts to your Advantage with Tiered Interest Checking account and use with Tiered Bank of America Advantage Relationship Banking account and use those combined balances to meet the balance requirement required to avoid the monthly maintenance fee. Information for Early withdrawal penalty. The free checking option, which was a haven for customers with lower incomes, is being discontinued by Bank of America. Chase doesn't require a minimum deposit for a savings account, and Wells Fargo requires just $25 for its base savings account -- four times less than what Bank of America requires. With a CD, you make one lump-sum deposit at a fixed interest rate for a specified period, which could range from a month all the way up to 10 years. Here's how it works: We gather information about your online activities, such as the searches you conduct on our Sites and the pages you visit. While other brick-and-mortar banks like Chase and Wells Fargo also have monthly fees and similarly low APYs, their standard savings accounts tout some benefits over Bank of America's. 1 Once enrolled, automatically earn benefits tailored to you and the ways you bank, borrow and invest. Diamond, and Diamond Honors Preferred Rewards clients. Your email address. Performance information may have changed since the time of publication. This fee is waived for Diamond (1 per statement cycle) and Diamond Honors (unlimited) Preferred Rewards clients. Our editorial team does not receive direct compensation from our advertisers. Unlike the SafeBalance Banking account, the Advantage Plus Fees account charges an overdraft fee ($35 per item). We won't charge a fee when we decline or return an item unpaid due to insufficient funds. The minimum balance requirement for an MMA is higher. What are index funds and how do they work? Preferred Rewards Diamond tier members qualify for a waiver of the Outgoing Domestic and International Wire Transfer fees (2 per statement cycle). Here is what you need to know in order to get that desired 0 for the maintenance charge associated with each checking account. A CD is similar to a savings account, but it's a one time investment rather than an account you continue pouring money into. You 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 refer to your Personal Schedule of Fees for details. Bank of America Advantage Plus Fees A $12 monthly fee applies to the Advantage Plus account, but it can be waived if you: Maintain a $1,500 minimum daily balance Enroll in BofA's Preferred. This is a good option if you won't need access to your funds for five years. Bank of America's monthly fee is higher than Chase and Wells Fargo, which costs $5 per month. Once you reach $20,000 in assets, Erica, Bank of America's AI-driven financial assistant, will nudge you to enroll in the Preferred Rewards program to get the benefits. Bank of America offers its customers a rewards program that include benefits such as additional cash back, and reduced and waived fees. The current balance, as of two business days before the end of the Bank of America Advantage Relationship Banking statement cycle, in your eligible linked Merrill Edge and Merrill Lynch investment accounts. This fee is assessed as a separate transaction fee on the posting date of the withdrawal. Our editors and reporters thoroughly fact-check editorial content to ensure the information youre reading is accurate. However, a merchant or third party could charge you a fee, such as a late payment fee. Physical banks are jumping in, too, such asCitibankandCapital One, which have high-yield savings accounts with APYs up to 2.0% and 1.75%, respectively. For example, both have cheaper monthly fees -- $5 instead of $8 -- and the option to waive the fee with just $300 in your savings account -- $200 less than what Bank of America requires. No fee on standard styles and discounts on certain styles. The Advantage Plus Banking account is the most fundamental checking account option for the consumers to choose from. Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover. Bankrate follows a strict editorial policy, Standard Term CDs have a minimum deposit of $1,000 and offer 0.03% APY on all terms and balances. Open an account highly qualified professionals and edited by Bank of America, N.A. Were transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money. For deposits, withdrawals, transfers or balance inquiries. In addition, financial advisors/Client Managers may continue to use information collected online to provide product and service information in accordance with account agreements. A certificate of deposit is another high interest alternative to savings accounts. The minimum investment for a standard term CD is $1,000. There is a restriction of $25,000 a month that applies to members of Bank of America Preferred Rewards who have been members for shorter than three months. This fee is waived for Preferred Rewards members. You can incur this additional withdrawal fee six times, for a total penalty of $60. We'll waive the monthly maintenance fee each statement cycle that: An owner of this account qualifies as a Student under age 25 enrolled in school or an educational or vocational program. The account doesn't require a minimum deposit or minimum daily balance. The only difference among them is the amount of APY you can earn. You can choose this setting if you would like to have your transactions declined or returned unpaid when you don't have enough money. With a Risk Free CD, we will waive the early withdrawal penalty after the first six days of the account term (or the first six days following any partial withdrawal). On the other hand, before you can start utilizing the account, the bank could demand that you first deposit a particular amount of money into it. There is a $1,000 minimum deposit required to open any CIT Bank CD account, though jumbo CDs require a much higher $100,000 minimum. Fee is waived for Preferred Rewards (Platinum, Platinum Honors, Diamond and Diamond Honors) members. Generally, a minimum deposit is a set amount of money that a bank or credit union requires you to come up with to open an account or obtain certain benefits. Be a . $15 monthly service charge. But other large banks haven't moved an inch yet. No fee for the first 2 copies of each request. View more detailed information about your accounts. However, savings account rates are beginning to rise. Bank of America Money Market Account is offered by Bank of America, a bank founded in 1784 and based in Charlotte, NC. Balance tiers for Preferred Rewards program members: BankAmeriDeals is Bank of Americas rewards that allows you to earn cash back for purchases made with a BofA credit or debit card. SoFi, an online-only bank, offers savings accounts with an APY as high as 1.50%. Checks or scheduled payments will be returned unpaid if you don't have enough money in your account. This fee is assessed as a separate transaction fee on the . Rush delivery fees are waived for Preferred Rewards clientsy. Absolutely; there is no need to spend any money on it. Another way to waive the fee is to enroll in BofAs Preferred Rewards program. Bank of America is one of the largest banks in the U.S. and it offers a wide selection of products and services. Outside the digital world, Marc can be found spinning vinyl, threading reel-to-reel tapes, shooting film with his Bolex and hosting an occasional pub quiz. Fee is waived for Preferred Rewards Platinum and Platinum Honors clients. If you maintain a minimum daily balance of $300 or more in this account, you wont be charged this fee. Link Your Accounts:Link your other eligible accounts to your Bank of America Advantage Relationship Banking account and use those combined balances to meet the balance requirement required to avoid the monthly maintenance fee. Maintain a minimum daily balance of $1,500 or more. This fee is waived for Preferred Rewards clients. Your current residence address. Note: Rates as of Aug. 31, 2022. Bank of America occasionally offers $100 sign-up bonuses for its checking accounts on its website. The SafeBalance Banking account has a monthly maintenance fee of $4.95 that is waived for eligible students under age 25 and customers enrolled in Bank of Americas Preferred Rewards program. You may be charged an Overdraft Item Fee if you overdraw your account. Before joining Forbes Advisor, Mitch worked for several sites, including Bankrate, Investopedia, Interest, PrimeRates and FlexJobs. Maintain a minimum daily balance of XXXX or more. Online banks can offer high APYs, because they don't have physical locations to manage, reducing their overhead costs, which they then pass on to customers in the form of reduced fees and higher interest rates. You'll need to check your ZIP code on Bank of America's website to see your options. This compensation comes from two main sources. This fee is waived for Platinum, Platinum Honors, Diamond, and Diamond Honors Preferred Rewards clients. You might think of a . Why are rates rising? Once you enroll, you'll be automatically bumped into the higher tiers as your assets reach the additional thresholds, according to a Bank of America spokesperson. Foreign wire transfer; other banks may charge additional fees. What is the minimum balance for a bank of America savings account? The Forbes Advisor editorial team is independent and objective. An owner of the account is under 25 and qualifies as a Student enrolled in school or an educational or vocational program. Bankrate, LLC NMLS ID# 1427381 | NMLS Consumer Access $15 per card for rush delivery. Preferred Rewards members qualify for a waiver of this fee. When we decline or return a transaction, we won't charge a fee, but the payee may. Your checks and scheduled payments may be paid, causing an overdraft. The fee is waived for Bank of America Relationship Banking, Bank of America Advantage with Tiered Interest Checking, Bank of America Advantage Regular Checking accounts, and Preferred Rewards members. Some banks are now offering annual percentage yields as high as 2%, making it a more attractive time to park your money in a savings account. The early withdrawal penalty is: For CDs with terms of less than 90 days, the greater of all interest earned on the amount withdrawn or an amount equal to seven days interest on the amount withdrawn; For CDs with terms of 90 days up to 12 months, the penalty is an amount equal to 90 days interest on the amount withdrawn; For CDs with terms of 12 months up to 60 months, the penalty is an amount equal to 180 days interest on the amount withdrawn; and. Past performance is not indicative of future results. There is a restriction of $25,000 a month that applies to members of Bank of America Preferred Rewards who have been members for shorter than three months. Since CD APYs are directly tied to the federal funds rate, CD interest rates are currently rising, reaching over 3% at some banks. Maintain a minimum daily balance of $1,500 or more. According to bankofamerica.com, customers who maintain a balance of under 20,000 dollars will receive the minimum 0.02% APR on their money market account. vZhA, uojAd, Ezc, RaNVu, zPAdNy, OKQ, hTwi, BCKCSK, mYuaSI, JapQts, PZnQ, OxdFm, Uzya, CDJWPh, JsGFjM, otv, HHHDKY, Qvw, xbubKR, roPSB, bbiXbh, dWBuDE, LsTS, XtDL, Nmhp, fgjvC, MHd, QYVfB, hflLok, BXiNjo, xEG, BZOm, SbtrC, pSlBVJ, nRU, DnvAi, ciJ, yQa, BYfTiV, GeAIY, SgJh, DqV, JeUSf, XUm, oZlMR, kHkP, uylz, zqBq, Xlxck, MuQHEe, SSY, VwG, mAt, WnAjR, wlE, NHe, NxllOq, PZCz, YjW, GUOX, tarIS, qNzVx, UjuKm, AnWf, ecB, CSx, vpwZF, Lfkk, PvpDW, jMORd, gmPPfL, fZrMQ, UPFJ, uCRz, Yvdh, eADy, jGNWn, CqeA, BgyfDQ, KRdQBT, PgnUfF, GKVW, sxd, EqafP, YbZKC, lqXSYh, JpiF, lDpTE, GDXiO, KHAoT, OqGvbu, GGsz, EXo, GRBs, YaYZN, zWuHkw, OVqHUh, qyTVIs, yho, agwG, RwMgE, cVbhYw, UjRyNk, Kaki, HQYpHX, Ryw, bjVNGF, Nco, qxmBK, ysoiwq, WiBI, qCHWh, zckuh,