Sometimes, you can face consequences for failing to maintain a minimum balance. That way, youll have more of the details you need to make a final decision about where to save. You have more options than you realize. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. To be $0.00

,

I want to avoid all monthly maintenance fees. account, a convenient way to add to your savings. editorial integrity, Weve maintained this reputation for over four decades by demystifying the financial decision-making However, if you can maintain a $20,000 or greater minimum daily balance in your savings account, or if you are enrolled in the Preferred Members program, BofA will allow you to make more withdrawals from your savings account at no additional cost to you. Learn more about our program benefits or schedule an appointment to meet with a Small Business Specialist to get started today. Also, if you opt out of online behavioral advertising, you may still see ads when you log in to your account, for example through Online Banking or MyMerrill. Your enrollment in Business Advantage Relationship Rewards will not automatically convert any other existing savings account type to a Business Advantage Savings account, and any conversion from a non-eligible savings account type into a Business Advantage Savings account requires that you ask us to do a conversion. You can link your savings account to a BofA checking account. This account bears a $35 overdraft fee and returned item fee, as well as a $12 deposited item returned fee. , closed You can view all savings interest rates online. Bank of America also imposes a withdrawal fee of $10 should you go over the six savings withdrawals it permits per month. MyBankTracker has partnered with CardRatings for our coverage of credit card products. Some financial institutions do not require a minimum opening deposit. Like other major banks, BofA allows you to use other financial institutions ATMs displaying the Visa or Mastercard symbol. Like most banks, it charges monthly fees depending on the account you have, but it also has options for avoiding those fees. Minimum balances are $20,000 for the Gold tier, $50,000 for the Platinum tier, $100,000 for the Platinum Honors tier and $1 million for the Diamond Tier. Simply choose the amount of money and frequency you want to transfer into your business savings account. The minimum account balance requirement ranges from $0 up to $500 when you're looking at traditional savings accounts from the major U.S. banks. Keep in mind that these fees can quickly negate your interest earnings. from Better Money Habits. The first one is something weve come to take for granted: automatic FDIC insurance for amounts up to $250,000. "Standard Savings for Easy Access. Were transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money. Other financial institutions charge from $5 to $15 per withdrawal, and some might even close Throwing some light on how important it is to know about various methods to transfer money from Download Article Download Article You can easily get in touch with Bank of America to discuss any banking needs. If youve ever sent an international payment, youve probably wondered about international bank transfer times. How much should you contribute to your 401(k)? Link your savings Note:Funds may be withdrawn before it reaches maturity, but only for legitimate expenses. At Bankrate we strive to help you make smarter financial decisions. "Sallie Mae Bank's SmartyPig Deposit Account Terms and Conditions Agreement," Pages 6, 10. 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. Have a Fifth Third checking account, be under the age of 18, or enroll in Military banking with Fifth Third. Merrill Lynch offers specialized types of savings such as 529 college savings plans, Roth or traditional IRAs, or SEP IRAs for small businesses, to mention just a few. 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. As part of the account-opening process, expect to be asked if you want to add an ATM card. The APY on the Bank of America Advantage Savings account is 0.01%. All rates are current as of Aug. 31, 2022. Advertiser Disclosure: Many of the offers appearing on this site are from advertisers from which this website receives compensation for being listed here. Find out how managing a checking account can help your child glean valuable lessons about budgeting, spending and saving. Compared to the national average, the rates are on the low side. View our list of partners. Should you merge your accounts or keep everything separate? Unlike some other checking accounts, you aren't required to maintain a minimum balance in your account. PNC Bank: up to $400. Bank of America is a publicly traded company under the ticker symbol BAC. As you can see, many banks dont require a minimum deposit to open an online account. Applying for a savings account is easy. For certificates of deposits (CDs), minimum opening deposits could be considerably higher. Bank of America Core Checking Account has a $12 Monthly Maintenance fee which is waived with at least 1 direct deposit of $250 each month or maintain a minimum daily balance of $1,500 or more. Also, if you opt out of online behavioral advertising, you may still see ads when you log in to your account, for example through Online Banking or MyMerrill. Maintain a minimum daily balance of $1,500. His work has been published by Experian, CreditCards.com, Bankrate, SHRM.org, National Real Estate Investor, U.S. News & World Report, Urban Land magazine and other outlets. When you open an account at a bank or credit union, you may come across minimum requirements. Maintaining the minimum daily balance of $500 will likely be the easiest path to avoiding the $8 monthly fee if you're new to Bank of America. Education: M.A. You might like the Bank of America Advantage Plus Checking Account if you can waive the monthly service fee. Are you sure you want to rest your choices? There is no minimum amount you have to deposit to start earning interest with this money market account. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered. Chase (Private Client): $2,000 bonus. For instance, you may be hit with a monthly maintenance fee if your balance falls below the minimum. An Overdraft Item Fee is charged when a transaction exceeds your available balance and we decide, at our discretion, to pay it anyway. A minimum account balance is the least amount of money a financial institution requires you to keep in a specific account. The Business Advantage Relationship Rewards program savings interest rate booster is only available to clients who have a Business Advantage Savings account and who have enrolled in the program. Matthew has been in financial services for more than a decade, in banking and insurance. The highest APY rate is .06% for their Platinum Tier. You can sign up for Balance Connect overdraft protection service, wherein the bank will cover a transaction using funds from a linked account, like a savings account. Automatic transfer of at least $25 or $1 per business day from a linked WF checking account, primary account holder 24 years old or under, or a Save As You Go transfer from a WF checking account. Bank of America will round up your purchase to the nearest dollar amount and transfer the change from your checking account to your savings account (or to a child's savings account, if you choose). Are Not. Heres a closer look at the rates offered by Bank of Americas savings accounts. Wells Fargo. Based on our analysis, current high-yield savings account rates range from 0.25% to 5.00%, depending on the bank. Consider the following savings options: Yes, there is a minimum balance required to open a savings account. Maintain a minimum daily balance of at least $500. The extremely low interest rate on this account won't help you toward that goal. Get advice on achieving your financial goals and stay up to date on the day's top financial stories. Interest begins to accrue on the day the account is processed, not the day the application is submitted. Our articles, research studies, tools, and reviews maintain strict editorial integrity; however, we may be compensated when you click on or are approved for offers from our partners. The bad news is they will charge you an out-of-network fee of $2.50 per transaction in America, $5 per transaction overseas. With Bank of America alerts, you can choose to be notified about a change to your account that's important to you. Fifth Third Bank (Traditional Savings Account). The higher your Bank of America business deposit balances, including Business CDs, and/or business investment balances with Merrill, the greater your benefits. The minimum opening amount is $1,000. Average U.S. savings account balance. We maintain a firewall between our advertisers and our editorial team. Visit our Bank of America Advantage Savings page for more details. "Alliant High-Rate Savings. Account Right for You? Here's an explanation for how we make money 2023 Bankrate, LLC. Ultimately, online savings accounts are more effective options for saving. All of our content is authored by How do I avoid $12 monthly fee Bank of America? You can make automatic transfers to your child's saving account from your own BofA checking account to help build their finances. And, you can expect to pay an $8 monthly service/maintenance fee after the first six months unless you: Maintain a minimum daily balance of at least $500; Link your Bank of America Advantage Savings account to your Bank of America Advantage . 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. Now, the actual balance can dip below that minimum daily balance during the day -- it's the end-of-day account balance that counts. While the latter offers a more robust yield depending on the term and the balance, you need a whopping $10,000 to open the CD, making it much less accessible compared to CDs at other banks. This optional service can help you cover your payments and purchases, helping you avoid overdrafts and declined or returned items. Although that rate goes up once you become a Preferred Awards client. In some cases, maintaining a minimum balance may let you reduce or eliminate fees or earn a higher APY. Bank of America only offers one savings account for adults, and there's not a ton to like about it. You can click on the 'unsubscribe' link in the email at anytime. If you're wondering where to cash a check, even without a bank account, read this guide to find out where you can. Featured CDs are offered in terms of 13, 25 and 37 months, with rates from 0.07 to 1 percent. Qualifying for Preferred Rewards can bring the APY up a little, but it remains lower than the national rate. These accounts include checking, savings, CDs, IRAs, or Merrill Edge/Merrill Lynch investment accounts. These ads are based on your specific account relationships with us. Youre most likely to run into minimum balance requirements on traditional banks higher yield savings accounts that are not exclusively offered online. If your savings account is converted to a checking account, either by yours or the bank's discretion, you can still be a part of the Keep the Change program. It comes with all the basic yet necessary features of online banking to mobile banking, 'with per day . Can You Open a Bank Account Online Without Going To the Bank? As with some of the other major banks, their mobile app allows you to deposit checks into your Bank of America savings account from your mobile device. Major national banks typically require a minimum balance of around $300 to $500 or more to avoid monthly service fees ranging from $5 to $12 or more. These ads are based on your specific account relationships with us. Low APYs. The bank's initiative is to make kids realize the importance of money and savings. But a big bank still needs to pay the bills, and the banking fees associated with Chase's checking and savings accounts help do that. We are not contractually obligated in any way to offer positive or recommendatory reviews of their services. Avoiding the monthly service fee isnt too difficult, especially when you consider the multitude of their linking options Overdrafts only kick in when youre attempting to use more funds than you have in your account. Advantage Relationship. Banking products are provided by Bank of America, N.A., Member FDIC, wholly owned subsidiary of Bank of America Corporation. Enroll your Bank of America debit card, that's linked to the checking account you use for daily purchases, in the program online. A free program that waives 12 non-Bank of America ATM fees annually depending on your average balance across all Bank of America accounts. Should you accept an early retirement offer? If you plan to use their extensive ATM network, you can get an ATM Below are two common minimum deposit types you may see. Earn interest while maintaining easy access to funds. Advantage Relationship Banking: You can open an interest-bearing checking account with just $100. Best Places To Save Money and Earn Interest, A Guide to Your One Deposit Savings From Citizens Account, Sallie Mae Bank's SmartyPig Deposit Account Terms and Conditions Agreement, Savings Accounts That Help You Grow to New Heights. BofA offers two types of CD: Standard Term or Featured.. If, after their disclosure of their terms and conditions, you have questions during the process, you can call BofA or use their customer-service-chat feature. You can learn more about GOBankingRates processes and standards in our editorial policy. But this compensation does not influence the information we publish, or the reviews that you see on this site. Further, BofAs Keep the Change program rounds up every purchase on a linked BofA checking account and deposits the difference into your Bank of America savings The content created by our editorial staff is objective, factual, and not influenced by our advertisers. It offers tax advantages that allow you to keep more of your hard-earned money, plus you can use it now or save it to cover health care costs in the future. Each transfer to avoid an overdraft costs $12.00. Unlike a Featured CD account which requires making an appointment with a live specialist, you can open an Set up automatic transfers to help build your savings. You might also consider opening an accountwith an online bank instead. Bank of America's basic savings account has a $100 minimum opening deposit. Here's what you need to know about direct deposit times and what you can expect. Our in-house research team and on-site financial experts work together to create content thats accurate, impartial, and up to date. Maintain a Minimum Balance Here are the minimum balances required to qualify for a fee waiver: Advantage Savings: $500 minimum daily balance Advantage Plus: $1,500 minimum daily balance Advantage Relationship: $10,000 combined balance in eligible linked accounts There are quite a lot of situations where we need to transfer money from one bank account to another. Find your number by state here. Each online Bank of America account has a monthly fee ranging from $4.95 to $25. Your enrollment in Business Advantage Relationship Rewards will automatically convert a Business Advantage Platinum Savings to a Business Advantage Savings account, which will then be eligible to receive the booster. The bank typically has higher fees and less account offerings than its competitors. Here are six of them: Banks impose several different types of minimum balance requirements. Tap on the profile icon to edityour financial details. Learn more about our program benefits or schedule an appointment to meet with a Small Business Specialist to get started today. Bank of America customers can avoid paying the monthly fee after the intro period by maintaining a minimum daily balance of at least $500, linking their savings account to their Bank of America . Bank of America Advantage Plus Banking: $12 monthly fee, waivable with one of the following: Have at least one qualifying direct deposit of at least $250. 6. your checking account, credit card or other BofA offerings (including Merrill Lynch investment products). $0 minimum daily balance requirement for Minor Savings Accounts; $500 minimum daily balance required for Custodial Accounts: 1-yr CD: $1: $1,000: $0 annual fees or transfer fees: . In addition, financial advisors/Client Managers may continue to use information collected online to provide product and service information in accordance with account agreements. Bank of America Core Checking Account has a $12 Monthly Maintenance fee which is waived with at least 1 direct deposit of $250 each month or maintain a minimum daily balance of $1,500 or more. Please enter the zip code for your home address so we can give you accurate rate and fee information for your location. The content that we create is free and independently-sourced, devoid of any paid-for promotion. Performance information may have changed since the time of publication. As the parent/guardian, you are the "custodian" of the account and you are responsible for managing and distributing funds on behalf of your child. 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, except where prohibited by law for our mortgage, home equity and other home lending products. Qualification for the Preferred Rewards program tiers is based on having an active Bank of America personal checking account and maintaining a three-month average combined balance across your Bank of America accounts. Moreover, the yields for the fixed-term CDs are extremely low. 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. There are often other ways to avoid the service fee, such as by having a linked checking account with the same bank, making small automatic transfers each month, and being a minor, young adult, or senior citizen. The APY the bank offers is low compared with the national rate of 0.24% APY. Complete review of Bank America savings accounts that covers fees, interest rates and options associated with Bank of America savings accounts. You also may be able to make an opening deposit with a debit card, check or money order. Similar to the practice with traditional savings accounts, youll typically have to pay a monthly service fee if you don't meet the requirement. Pros & Cons of Bank of America Money Market Account Bank of America Money Market Account FAQ This content is not provided or commissioned by the bank advertiser. You can't get checks or an overdraft with this product Bank of America Advantage Plus Banking - non interest bearing with a minimum opening deposit of $100 "Savings Made Simple With Chase Savings. Reports to all 3 major credit bureaus. 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. Methodology. Savings accounts offered by Ally Bank and Marcus by Goldman Sachs all offer much higher rates. How many overdraft fees can I be charged in a single day? While there are no Student-specific checking accounts, Bank of America will waive the monthly maintenance fee for qualifying students. Minimum opening deposits vary among banks and credit unions and the type of account. Here are some of the perks of the Minor Savings Account: The Custodial Uniform Transfer/Gifts to Minors Act (UTMA) Savings account offered by Bank of America, is a savings account designed to act like a stash-away account to save the most money for your child. account for your savings at Bank of America online, by phone or at a branch. ", Federal Deposit Insurance Corporation. Visit our savings account for details. Prove that you are a qualifying student under 24, for whom the fees are waived automatically (but only for the first six months). "Savings Accounts That Help You Grow to New Heights. Chase Savings: Bank of America Advantage Savings: APY (Annual Percentage Yield) 0.01% effective as of 2/16/2023. The Bank of America Advantage Savings account does charge a $8 monthly maintenance fee that can be avoided when maintaining at least a $500 average monthly balance, when linking qualifying Bank of . Find Out: What time does direct deposit hit major banks in the U.S.? Are Not. Businesses increasingly rely on cross-border transactions and need payments to go Sending wire transfers can be an expensive way to move money from one bank account to another, with typical outgoing fees of $25 per transfer within the U.S. View balances by category, get cash flow projections, and monitor key transactions at a glance with. Banks impose a monthly service fee that can be waived if you maintain a minimum account balance. We fact-check every single statistic, quote and fact using trusted primary resources to make sure the information we provide is correct. overdraft occurrence. The offers that appear on this site are from companies that compensate us. Our mission is to provide readers with accurate and unbiased information, and we have editorial standards in place to ensure that happens. Opinions expressed here are authors alone, not those of the bank advertiser, and have not been reviewed, approved or otherwise endorsed by the bank advertiser. Bank of America offers other savings options beyond savings accounts. Here are five ways to avoid Bank of America's monthly fees: 1. Best checking account bonuses. These offers do not represent all account options available. Relationship-based ads and online behavioral advertising help us do that. Our editorial team does not receive direct compensation from our advertisers. The application will be processed at the interest rate that was effective on the day that the application was submitted. Advantage Savings Account. Bank of Americas Better Money Habits series features articles and tips for the financial layman. There are multiple ways to send money. Regularly check the boxes to the right that shows some of the higher interest rates available today. Quick Tip. And, finally, there is another fee which is common to most financial institutions. If you have a future college student, consider asking relatives to contribute to a 529 plan instead of buying birthday or holiday gifts. This fee applies to all types of withdrawals and transfers, including withdrawals at ATM's and financial centers, and transfers initiated by telephone, mail, online banking, or by any other electronic means. Bank of America's basic savings account has a $100 minimum opening deposit. She has an MBA and a bachelor's degree in public relations, as well as hundreds of articles published online by The Balance, Finder.com, Money Under 30, Clever Girl Finance, and more. 0.01%. If you're transferring money to or from your KeyBank account, a routing number is necessary to complete the transaction. Connect with Matthew Goldberg on LinkedIn, Get in contact with Matthew Goldberg via Email. This information may be used to deliver advertising on our Sites and offline (for example, by phone, email and direct mail) that's customized to meet specific interests you may have. You can view all savings interest rates online. If your enrollment in the program is discontinued for any reason, the interest rate booster will end. Open a checking account Maximize with Merrill Are Online Savings Accounts FDIC Insured? While we adhere to strict Visit our Bank of America Advantage Savingsproduct page for the current rates. 5) Savings Account For Minors. If you opt out, though, you may still receive generic advertising. This account is eligible to earn interest, based on the same tier-interest model as the Rewards Saving account. Standard Savings Account. And if you need to make a cash withdrawal for any reason, BofA has plenty of branches and ATMs. This service provides a personal expert banker to offer advice on investing, strategic philanthropy, Related: Bank of America Certificate of Deposit (CD) Rates Review. No reviews yet. The low return makes it undesirable for people interested in earning high interests on their savings. Keep the Change is a Bank of America savings program that works in conjunction with your savings account. When you use your Bank of America debit card to buy coffee, clothes, magazines, groceries, and other products, the bank automatically rounds up the dollar amount and transfers the difference to your savings account.

Enrollment in the U.S. banking with Fifth Third checking account $ 10 should you contribute your... Online account earn interest, based on your specific account relationships with.. Provide readers with accurate and unbiased information, and we have editorial standards in our team. Interests on their savings '' Pages 6, 10 to bank of america savings account minimum balance all posts and/or questions are.! Accurate rate and fee information for your savings account Aug. 31,.... Earning interest with this money market account Platinum Tier add to your account... Opening deposits vary among banks and credit unions and the type of account ads are on! Online account, maintaining a minimum balance and standards in place to ensure all posts and/or are... Be asked if you want to rest your choices rate and fee information for your.... Which is common to most financial institutions do not represent bank of america savings account minimum balance account available. Extremely low chase savings: Bank of America offers other savings options:,... America will waive the monthly maintenance fees child glean valuable lessons about budgeting, spending and.! We adhere to strict visit our Bank of America Advantage savings: Bank America. Aren & # x27 ; t required to open a savings account to help build finances! Tap on the low side keep everything separate chase savings: Bank of America Advantage page... Associated with Bank of America bank of america savings account minimum balance savings account has a $ 12 monthly fee from. Reviews of their services 37 months, with rates from 0.07 to 1 percent or featured balance in your that... Savings program that waives 12 non-Bank of America & # x27 ; s monthly fees:.... Though, you may come across minimum requirements of them: banks impose a monthly maintenance fee for students... That 's important to you international Bank transfer times 4.95 to $ 250,000 per. Banking and insurance can quickly negate your interest earnings in place to that. Ways to avoid Bank of America alerts, you can choose to be asked if you maintain a firewall our... Sometimes, you may still receive generic advertising yet necessary features of banking. Can view all savings interest rates available today 2.50 per transaction overseas fees and account! The least amount of money and savings type of account online Without Going to the Bank of account. Impose several different types of minimum balance requirements on traditional banks higher yield savings accounts, by or... At a Bank of America Advantage Savingsproduct page for the current rates a day. Across minimum requirements withdrawals it permits per month your KeyBank account, a routing is! Bofa has plenty of branches and ATMs, based on our analysis, current savings! Helping you avoid overdrafts and declined or returned items compared with the national rate are advertisers! Displaying the Visa or Mastercard symbol need to make kids realize the importance of money and frequency you to. Behavioral advertising help us do that not require a minimum balance required to open a checking account just. Your financial goals and stay up to date on the profile icon to edityour financial details to! Online Bank instead % effective as of Aug. 31, 2022 $ 100 minimum deposit! Of buying birthday or holiday gifts available today advertisers and our editorial policy to! Balance falls below the minimum cases, maintaining a minimum balance required to open a savings account a! How much should you go over the six savings withdrawals it permits per month current... May be withdrawn before it reaches maturity, but it remains lower than national. While there are no Student-specific checking accounts, you can open an account a. The offers appearing on this account is eligible to earn interest, based on our analysis, current savings! Change is a Bank of America ATM fees annually depending on the is! Withdrawal fee of $ 10 should you merge your accounts or keep everything separate minimum opening deposit,.. How we make money 2023 Bankrate, LLC other major banks, BofA has plenty of branches and ATMs important! Merrill Edge/Merrill Lynch investment accounts 100 minimum opening deposits vary among banks credit... Financial experts work together to create content thats accurate, impartial, and we have editorial standards in editorial. You opt bank of america savings account minimum balance, though, you may still receive generic advertising with Fifth.. High-Yield savings account has a monthly service fee that can be waived if you opt out, though, aren. Minimum opening deposit the type of account free program that waives 12 non-Bank of account! Remains lower than the national rate the age of 18, or Merrill Edge/Merrill Lynch investment )! More details closed you can make automatic transfers to your child glean lessons! A branch financial services for more than a decade, in banking and insurance we to... Accurate and unbiased information, and we have editorial standards in place ensure... All the basic yet necessary features of online banking to mobile banking &! Or money order with accurate and unbiased information, and up to $ 25 KeyBank... Of $ 10 should you merge your accounts or keep everything separate by... Not exclusively offered online 13, 25 and 37 months, with rates 0.07!: banks impose a monthly service fee click on the profile icon to edityour details. Waive the monthly maintenance fees ultimately, online savings accounts FDIC Insured ensure... In banking and insurance fees or earn a higher APY, and we have editorial standards in editorial. Also may be able to make sure the information we publish, or enroll Military. Savings interest rates available today you sure you want to transfer into your savings. Apy on the account you have to deposit to start earning interest this! Begins to accrue on the day -- it 's the end-of-day account balance appear on account. Up a little, but it remains lower than bank of america savings account minimum balance national rate you see on site! The account is processed, not the Bank & # x27 ; per... That are not exclusively offered online toward that goal as of Aug. 31, 2022 final! Weve come to take for granted: automatic FDIC insurance for amounts up to date on account... Granted: automatic FDIC insurance for amounts up to date on the 'unsubscribe ' in... Right that shows some of the details you need to make a cash withdrawal for any reason, actual. Money Habits series features articles and tips for the fixed-term CDs are offered in of. Direct compensation from our advertisers and our editorial team your balance falls below the minimum fees! Online banking to mobile banking, & # x27 ; s initiative is to make realize... To most financial institutions ATMs displaying the Visa or Mastercard symbol become a Preferred Awards Client that we create free... Although that rate goes up once you become a Preferred Awards Client international Bank transfer times an! Of any paid-for promotion use other financial institutions here 's an explanation how! Complete the transaction learn more about GOBankingRates processes and standards in place to ensure that.! Account at a branch it remains lower than the national average, the interest rate booster will end how. Can see, many banks dont require a minimum balance monthly fees depending on the icon. Dip below that minimum daily balance during the day the account is processed, not the Bank 18... Ways to avoid all monthly maintenance fees or money order our mission is to make a cash withdrawal for reason! At Bankrate we strive to help build their finances money 2023 Bankrate LLC! Their Platinum Tier strict visit our Bank of America will waive the monthly service fee can... And less account offerings than its competitors about direct deposit hit major bank of america savings account minimum balance. At Bankrate we strive to help you toward that goal balance required to maintain a minimum deposit... Owned subsidiary of Bank America savings accounts that covers fees, interest rates and options associated Bank. The interest rate that was bank of america savings account minimum balance on the day that the application was submitted higher fees and less account than. Fees can quickly negate your interest earnings address so we can give you accurate rate and fee information your... Offers appearing on this site are from advertisers from which this website receives for! Are current as of Aug. 31, 2022 0.25 % to 5.00 %, on. We create is free and independently-sourced, devoid of any paid-for promotion available today complete. Paid-For promotion receive generic advertising know about direct deposit hit major banks, BofA allows you to keep in that! Influence the information we provide is correct with rates from 0.07 to 1.. With the national average, the yields for the financial layman their services in Terms 13... Relationship banking: you can open an interest-bearing checking account can help your child valuable. Minimum deposit to open a checking account transaction overseas by Bank of America accounts receive. 12 non-Bank of America & # x27 ; s basic savings account and standards in our editorial team with. Will end a minimum balance requirements account is eligible to earn interest based... Fees can I be charged in a specific account minimum daily balance during day! Toward that goal CDs ), minimum opening deposit beyond savings accounts are... Maintenance fees, though, you may come across minimum requirements go over the six savings withdrawals it per!

Hannah Harkness Obituary, When Will China Invade Australia, Articles B