Bank of America Advantage Plus Banking

Do you want to know all the characteristics and conditions of the Advantage Plus Banking of Bank of America? Alfredo Barandiarán analyzes for Economía Resposable all the characteristics, requirements and opinions offered by Bank of America’s Advantage Plus Banking. We also show you a comparison of the best accounts you can open in the United States. Welcome!

Features

Now we show you one by one all the characteristics.

Fees

It has a commission of 12 dollars per month unless you meet one of the following 3 conditions:

  • Have at least one qualifying direct deposit of $250
  • Maintain a $1,500 minimum daily balance
  • Are enrolled in Preferred Rewards

Minimum deposit

It is not necessary to make a minimum deposit but to open the account you will be required to deposit 100 dollars.

Overdraft services

You can choose between having the overdraft service but with commissions or reject this service. For each overdraft you will have a commission of 10 dollars (although you can only be charged 2 times a day maximum). We show you in an image all the conditions of overdrafts.

Overdraft Advantage Plus Banking
Overdraft Advantage Plus Banking

Zelle

You can easily send and receive money with Zelle.

ATMs

Withdrawals at Bank of America ATMs have no fees and at other ATMs they have a $2.5 fee. If you withdraw money outside the United States, the commission is 5 dollars.

ATMS fee Advantage Plus Banking
ATMS fee Advantage Plus Banking

Fees

As we already mentioned, you have a monthly commission of 12 dollars unless you meet one of the following conditions:

  • Have at least one qualifying direct deposit of $250
  • Maintain a $1,500 minimum daily balance
  • Are enrolled in Preferred Rewards

In addition, we show you in the following image all the commissions for each of the operations that you can carry out in the checking account:

Fees Advantage Plus Banking
Fees Advantage Plus Banking

Requirements

The requirements to open Bank of America Advantage Plus Banking are as follows:

  • To be over 18 years old. Those under 18 years of age must have a person of legal age as the holder of the account.
  • Reside in the United States
  • Have a American phone number

Documents

These are the documents that can be requested to open the checking account:

  • Passport if you are not a resident of the United States
  • Driving license
  • Social Security number

Pros

In the following list you have all the advantages of Advantage Plus Banking:

  • High interest rates because you can access CDs with an interest rate of more than 3,5%
  • Bank of America has one of the best mobile banking apps
  • Bank of America has more than 16,000 ATMs and nearly 4,000 branches in the United States

Cons

Now is the time to show you the disadvantages in the following list:

  • It is difficult to avoid monthly commissions
  • Commissions on incoming and outgoing bank transfers
  • You need to contract Cds to have high interest rates

How to open Advantage Plus Banking

You can open this checking account both online and in branches. We recommend that if you have any questions you go to the branch to ask a banker all the questions.

Frequent question

Here we answer all the questions you may have about Advantage Plus Banking:

Learn more about Bank of America

Here you have information of interest about Bank of America:

InformationDescription
Websitehttps://www.bankofamerica.com/
Facebookhttps://www.facebook.com/BankofAmerica
Linkedinhttps://www.linkedin.com/company/bank-of-america/
Twitterhttps://twitter.com/BankofAmerica
Phone number1 (800) 432-1000

Information about Bank of America

Finally, we show you related content from Bank of America and checking accounts:

Updated the day 21 January, 2023 by Alfredo Barandiarán

¿De cuánta utilidad te ha parecido este contenido?

Haz click en una estrella para votar

Promedio de puntuación 5 / 5. Número de votos 1

Se el primero en dejar un comentario!

Latest posts by Alfredo Barandiarán (see all)

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Abrir chat
Hola 👋
¿En qué podemos ayudarte?