12 monthly fees bank of America is one of the most reliable and genuine banks in America. Furthermore, it allows its users to use a number of savings and checking accounts. Additionally, it also follows typical bank rules and regulations. Ultimately this bank also charges a monthly fee. Here is the good point about this institute as it charges a fee that depends upon the type of bank you possess. Moreover, for the ease of its users, it also has another option. That option is to avoid these monthly fees.
There are a lot of ways to avoid bank of America’s fees. So that customers can easily utilize that way to avoid any complications regarding fees. The easiest and general method to avoid such fees is to set up an approved direct deposit. Furthermore, you can also fulfill account balance requirements to avoid these fees.
If you are a user of a bank of America account. Additionally, you also want to know some basic and easy methods to avoid the 12-month fee then you are at the right place. In this article, there is a thorough description of the ways that can help you out in the whole procedure. Furthermore, you do not need to pay such fees. So without wasting any further seconds let’s move towards these steps.
Steps to avoid monthly fees bank of America
A frequently used method to avoid bank of America’s fee is to maintain a minimum balance in your account. By maintaining a minimum balance you can easily avoid this fee. Furthermore, the customer of this bank can also go for a direct deposit method.
This method is the easiest method out of all the other methods. There is a unique feature of accounts, that these accounts will charge a fee according to your age. In simple words, if you are a teenager then your fee will be different. Moreover, if you are in your twenties then you pay a different fee.
The most important thing in all the procedures is that you should know each account has its own requirements. For intense BBA has its own requirement. Furthermore, the current account has its own different requirements.
Here is the responsibility of the customer that he should be sure that the fee waiver information matches with its account type. Additionally, the monthly service fee has no relation to item-specific costs. Furthermore, the item-specific cost is different from the monthly service fee. In general, these monthly fees are like the bank of America’s overdraft fee.
In the case you don’t want to adopt any of the above options then here are five other methods to avoid the monthly fee of Bank of America. So you can choose according to your own choice.
Maintain a minimum balance
For the qualification of a fee waiver, there is a minimum balance range described below. By following this range you do not need to pay the monthly fee. Here is a thorough description of that range. For the purpose of advantage saving the range of 500 dollars minimum. This amount is deposited daily. So in the case you have a low balance then you can easily avail this offer.
Furthermore, if you want to save more money then you can go for advantage plus saving. In this offer, you have to deposit 1500 dollars daily. Moreover, in the case of a combined balance of 10,000 dollars, users can utilize the advantage relationship offer.
This method is the most reliable and easiest. By following this method you do not have to follow any additional procedure. Simply you have to deposit the amount above according to your budget. So in our choice customers should avail this method.
Having qualified direct deposits
Here is another method for avoiding this fee is to receive a qualifying direct deposit. If the user does not want to adopt any complex procedure then this way is best for him. In this method here is an option of advantage plus. In its minimum range of one qualifying direct deposit of 250 dollars and other. This option will not be valid at a balance below 250 dollars. Additionally, this way is the easiest and most frequently used method.
Linking your bank of America accounts
The third way is to link your eligible bank accounts. By following this method customers can cope with these monthly fees. In this method, you just simply have to link your authentic account with another account. Furthermore, in this option, you can adopt advantage savings. Simply link the bank with a relationship banking account.
Read More: What is Financing Activities
Enrolling in the preferred rewards program
The other option for coping with this fee is to enroll in the reward programs. The eligible bank of America maintenance fees for checking and saving accounts, when you enroll your account with America’s preferred reward programs.
Furthermore, a user eligible for this preferred rewards program tries to have an active bank of America personal checking account. Additionally, there is a three-month average combined balance in your bank of America accounts. In this reward program, there are three types of triers. These triers depend upon the amount of combined balance in your account. For the gold tries the minimum balance is 20,000 dollars. A balance of fewer than 20,000 dollars is not valid for gold tries.
For the platinum tier, the balance limit is 50,000 dollars minimum. The same is the case with platinum, the customer is not eligible for the platinum tries with a balance of fewer than 50,000 dollars. In the last, there is a platinum honors tier, whose minimum balance renege is 100,000 dollars. A person with less than this balance can not apply for this platinum honor.
Qualify for the student waiver
The last and most important method is to apply for the student waiver option. This offer is only valid for the person who is enrolled with any academic institution. The academic institution may be any school, high school-college, or any university. There is also an option of age factor in this way. The user’s age should be below 24 years.
Additionally, there are strict options for the user that he should be a student. Furthermore, the age is most important and should be less than twenty-four years.
Like other accounts, there is an option for the eligibility of these methods. The first method’s advantage is safe balance. The second one is the advantage safe plus. The last one is advantage savings. This way is not only best for the businessperson as well as the students.
As the students avail different types of offers by using this bank account. Furthermore, there is no need to pay an additional 12 monthly fee if you qualify for the student waiver.
That is all about the ways to avoid 12 monthly fees at the Bank of America. Additionally, the bank of America provides suitable information on wealth for everyone. Including both customers and non-customers as well.
Furthermore, if anyone wants to get more information like auto loans, building credits, owning a home, understating credit reports, retirement planning, and saving advice, then there is enough information on the official website of bank of America. We tried our level best to provide each and every way to avoid the 12 monthly fees. Still, if you have any questions feel free to ask in the comment section.
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