Do you want to see a complete review of the Bank of America Advantage Plus Banking checking account? From Responsible Economy we have carried out an analysis of all the features: fees, interest rate, welcome bonus, requirements and everything you need to know. You also have a comparison of the best checking accounts you can open in the United States in 2023. Welcome!
Video Bank of America Advantage Plus Banking checking account
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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.
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.
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:
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.
Best banks to open a checking account in 2023
Here is a comparison of Bank of America with the best banks to open a checking account:
- It is very easy to avoid monthly commissions
- Welcome bonus of 200 dollars fulfilling conditions
- More than 16,000 ATMs in the United States
- $25 minimum deposit
- Very low interest rates
- It is very easy to avoid monthly commissions
- More than 16,000 ATMs in the United States
- $100 minimum deposit
- No welcome bonus
- High interest rates if you have a lot of savings
- It is very easy to avoid monthly commissions
- Nearly 12,000 ATMs
- $25 minimum deposit
- Welcome bonus of 300 dollars fulfilling conditions
- High interest rates on CDs
- No fees and no requirements
- Nearly 60,000 ATMs
- Welcome bonus of 250 dollars fulfilling conditions
- High interest rates on CDs
- No fees no direct deposits
- Fee-free withdrawals from ATMs around the world
- Without minimum deposit
- No welcome bonus
- High interest rates on CDs
- No fees no direct deposits
- More than 60,000 commission-free ATMs
- Without minimum deposit
- No welcome bonus
- High interest rates on Savings
- No fees no direct deposits
- More than 50,000 commission-free ATMs
- Without minimum deposit
- No welcome bonus
- High interest rates on CDs and Savings
- Commissions of $10 if you do not meet requirements
- No fees at Citibank ATMs
- Without minimum deposit
- No welcome bonus
- High interest rates on CDs
Video with the best checking accounts
We have made a video with the best checking accounts you can open in the United States:
Video with all bank of America checking accounts
We have made a video with the characteristics of the checking accounts that you can open with Bank of America:
All Bank of America checking accounts
In the following list you have the checking accounts that you can open with Bank of America:
Advantage Plus Relationship: In this account you need an average balance of $10,000 to avoid having monthly commissions of $25.
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:
| Information | Description |
|---|---|
| Website | https://www.bankofamerica.com/ |
| https://www.facebook.com/BankofAmerica | |
| https://www.linkedin.com/company/bank-of-america/ | |
| https://twitter.com/BankofAmerica | |
| Phone number | 1 (800) 432-1000 |
Information about Bank of America
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Updated the day 15 May, 2023 by Alfredo Barandiarán
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