Advantage Banking: A Closer Look at Bank of America’s Personal Banking Solution

Are you in search of a banking encounter that resonates with your individual financial objectives and offers a spectrum of perks? Look no further than the Personal Bank of America Advantage Banking Account. Within this comprehensive manual, we shall delve into the assorted attributes, benefits, and exceptional offerings of this account, meticulously crafted to cater to your distinctive banking requisites.

Bank of America Advantage Relationship Banking Interest Rate’s

	Rate %	APY %
Less than $50,000 $50,000 – $99,999 $100,000 and over	0.01% 0.02% 0.02%	0.01% 0.02% 0.02%

Bank of America Advantage SafeBalance Banking

Account	Monthly Maintenance Fee	Other Important Account Information
Bank of America Advantage SafeBalance Banking No Overdraft Item Fees No paper checks Use direct deposit Non-interest bearing account Sole ownership for ages 16+ Minimum to open – $25.00	Monthly maintenance fee for Advantage SafeBalance Banking account – $4.95 To avoid the monthly maintenance fee, meet one of the following requirements during each statement cycle: An owner of this account qualifies as a Student, Or An owner of this account is under the age of 18, Or Enroll 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)	The Advantage SafeBalance Banking account is different from a traditional checking account. It has important limitations that you should review. If you want any of the functions listed below, it might not be the right account setting for you. The following features are not available with your Advantage SafeBalance Banking account: Checks. Paper checks written by you or others on the account will not be paid. Do not buy checks from any source, such as checks you see advertised on the internet or in the newspaper or any other third parties. If a check is presented for payment, it will not be paid even if you have enough money in your account to cover it. You may incur fees from the party you were trying to pay when the check is returned. If a merchant uses your account and routing numbers to process a payment as a check, it may be rejected. Balance Connect® for overdraft protection to or from a linked account. Standard Overdraft Setting. Your account is automatically set to the Decline All Overdraft Setting. This means that if you do not have sufficient available funds in your account to cover an item, the item will be returned unpaid. You may be assessed a fee by a merchant if this happens. Please see the “Other Important Account Information” section for more details. How to qualify as a Student When you notify us an account owner is a Student, we will waive the monthly maintenance fee for each statement cycle during which the account owner qualifies as a Student as defined below. A Student is defined as an account owner who is both: Enrolled in school or an educational or vocational program AND Under 25 years old. The Student waiver does not apply when the student turns 25, ceases to be an owner of the account, or notifies us that they are no longer enrolled in school or an educational or vocational program. Fiduciary titled accounts, including UTMA/UGMA, do not qualify for the under the age of 18 or Student waiver.

Bank of America Advantage Plus Banking

Account	Monthly Maintenance Fee	Other Important Account Information
Bank of America Advantage Plus Banking Use direct deposit Non-interest bearing account Minimum to open – $100.00	Monthly maintenance fee for Advantage Plus Banking account – $12.00 To avoid the monthly maintenance fee, meet one of the following requirements during each statement cycle: Have at least one qualifying direct deposit of $250 or more made to your account. Or Maintain a minimum daily balance of $1,500 or more in your account. Or Enroll 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).	For information about direct deposits, see the Frequently Asked Questions About Accounts section. The minimum daily balance is the lowest balance that we determine is in the account during a statement cycle. This means you will need to ensure your account does not fall below $1,500 during your statement cycle.

Bank of America Advantage Relationship Banking

Account	Monthly Maintenance Fee	Other Important Account Information
Bank of America Advantage Relationship Banking Interest bearing account Variable rate Minimum to open – $100.00	Monthly maintenance fee for Advantage Relationship Banking account – $25.00 To avoid the monthly maintenance fee, maintain a combined balance of $10,000 or more during each statement cycle. For each statement cycle, we add the following balances together to determine your combined balance: The average daily balance in your Advantage Relationship Banking account and in each checking and savings account that is linked to your Advantage Relationship Banking account. We determine the average daily balance in a linked account by using the beginning balance in the linked account for each day of the Advantage Relationship Banking statement cycle. And The current balance, as of the end of your Advantage Relationship Banking statement cycle, in each CD and IRA that is linked to your Advantage Relationship Banking account. And The current balance, as of two business days before the end of your Advantage Relationship Banking statement cycle, in each eligible Merrill investment account that is linked to your Advantage Relationship Banking account. Or Enroll 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)	You can also get the following services with this account: Three additional Advantage Relationship Banking accounts and four savings accounts with no monthly maintenance fee when you link them to your primary Advantage Relationship Banking account. Free standard checks or discounts on certain styles. No fee for incoming domestic wire transfers, stop payments, and more. Additional accounts. For accounts linked to your Advantage Relationship Banking account, we waive the monthly maintenance fee on the first three linked Advantage Relationship Banking accounts and on the first four linked savings accounts of any type. The minimum amount you need to open each additional account, and other terms and fees, apply to each linked account. While you can also have us link more accounts, this waiver of the monthly maintenance fee does not apply to them. Linking accounts. You must tell us what accounts you want us to link to your Advantage Relationship Banking account. You can do so by visiting a financial center or calling us at the number on your statement. We do not automatically link other accounts for pricing. Certain restrictions apply. Please review “What does it mean to link accounts?” in the Frequently Asked Questions About Accounts section. Employees and Retirees: Bank of America employee and retirees qualify for a waiver of the monthly maintenance fee on up to four Bank of America Advantage Relationship Banking accounts. When employees or retirees no longer meet the qualifications, standard product terms and pricing apply. See “Which employees and retirees are eligible for a waiver of the Monthly Maintenance Fee?” in the Frequently Asked Questions About Accounts section. Effective November 3, 2023, we will no longer use a combined balance of $10,000 as a way to avoid the monthly maintenance fee. Instead, to avoid the monthly maintenance fee you will need to maintain a minimum daily balance of $20,000 or more in your Advantage Relationship Banking account during each statement cycle. For Bank of America employees and retirees, effective November 3, 2023, the monthly maintenance fee will no longer be waived. Instead, to avoid this fee you’ll need to maintain a minimum daily balance of $20,000 or more in your Advantage Relationship Banking account during each statement cycle OR Enroll in the Preferred Rewards program. Learn more at bankofamerica.com/preferred- rewards

Table of Contents

1. Introducing the Personal Bank of America Advantage Banking Account
2. Grasping the Account Features
3. Seamless Online and Mobile Banking
4. Access to an Extensive ATM Network
5. Waiving Fees and Bestowing Discounts
6. The Potency of Relationship Rewards
7. Convenience and Flexibility through Bill Pay
8. Overdraft Protection and Safety Measures
9. Facilitating Savings with Keep the Change®
10. Personalized Financial Counsel
11. Commencing Your Personal Bank of America Advantage Banking Account
12. The Qualification Criteria
13. The Process of Application
14. Comparing Advantage Banking vis-à-vis Alternative Account Types
15. Advantage Banking versus Fundamental Checking
16. Advantage Banking versus High-Tier Accounts
17. Actualizing the Perquisites of Preferred Rewards
18. Steps toward a Seamless Banking Transition
19. Effective Account Management
20. Strategies for Equilibrium and Vigilance
21. Maximizing the Advantage Banking Experience
22. Patron Assistance and Support
23. Frequently Posed Queries (FAQs)
24. Introduction to the Personal Bank of America Advantage Banking Account
25. Amidst an Array of Banking Alternatives, the Personal Bank of America Advantage Banking Account emerges as an all-encompassing and bespoke solution. Devised to bestow patrons with a hassle-free and gratifying banking escapade tailored to their unique fiscal ambitions.

Grasping the Account Features

Seamless Online and Mobile Banking

The Advantage Banking Account from Bank of America presents a seamless digital banking escapade, assuring perpetual access to your account—no matter the location. Through the user-friendly mobile application and the online portal, the intricate choreography of managing your finances, executing funds transfers, settling invoices, and scrutinizing transactions comes to fruition with a mere tap or two.

Access to an Extensive ATM Network

A cardinal advantage of the Advantage Banking Account lies in its expansive ATM network accessible to account bearers. With myriad Automated Teller Machines scattered across the nation, you possess unfettered access to cash and the latitude to perform sundry banking interactions with the added benefit of zero charges.

Waiving Fees and Bestowing Discounts

Bid adieu to superfluous banking levies, courtesy of the Advantage Banking Account. This account unfurls an assortment of exemptions—from monthly upkeep fees to overdraft penalties and beyond. Furthermore, beneficiaries of this account stand to revel in deductions across an array of banking amenities, encompassing mortgage origination levies and the rental fees of secure deposit boxes.

The Potency of Relationship Rewards

The Advantage Banking Account propounds the potentiality of Relationship Rewards—an unparalleled initiative that endows you with rewards points for sanctioned debit and credit card transactions with Bank of America. As your liaison with the bank deepens, your rewards burgeon, pliable to redemption for cashbacks, travel gratuities, and more.

Convenience and Flexibility through Bill Pay

Bid adieu to the rigmarole of disbursing invoices with the online bill pay amenity integral to the Advantage Banking Account. Eschewing conventional paper checks and postage fees, you can seamlessly orchestrate one-time or recurring settlements directly from your account—a time and money-saving modus operandi.

Overdraft Protection and Safety Measures

The unanticipated vagaries of finance are acknowledged. Hence, the Advantage Banking Account furnishes an array of overdraft safeguard alternatives, which encompass interfacing your account with a savings account or a credit card. This cushions you against inadvertent overdrafts.

Facilitating Savings with Keep the Change®

The Advantage Banking Account innovatively simplifies the thrifty endeavor. Within its ambit lies the groundbreaking Keep the Change® program, a mechanism that automatizes the rounding up of debit card acquisitions to the nearest dollar, seamlessly transferring the discrepancy to your savings repository.

Personalized Financial Counsel

Navigating the labyrinth of your fiscal journey is rendered facile via access to Bank of America’s financial connoisseurs—the hallowed experts primed to dispense guidance germane to your fiscal perquisites, whether it pertains to budgeting, amassing funds, or devising strategies for momentous life milestones.

Commencing Your Personal Bank of America Advantage Banking Account

The Qualification Criteria

Unfurling the portals to an Advantage Banking Account is bereft of encumbrance, contingent on your compliance with the eligibility prerequisites. Broadly, you must be at least 18 years of age and stand as a citizen of the United States or an accredited resident thereof.

The Process of Application

The pursuit of an Advantage Banking Account is stripped of convolution, feasible either through the digital labyrinth or at the precincts of a Bank of America branch. Prerequisite details encompass your Social Security numeral and a bona fide identification.

Comparing Advantage Banking vis-à-vis Alternative Account Types

Advantage Banking versus Fundamental Checking

In juxtaposition to the rudimentary checking account that may merely extend elemental utilities, the Advantage Banking Account serves up an expansive spectrum of boons—encompassing fee waivers, gratuities, and a direct conduit to financial savants.

Advantage Banking versus High-Tier Accounts

Drawn against their high-tier counterparts, the Advantage Banking Account charts a middle course, charting an orbit brimming with attributes devoid of the imposing requisites and tolls affiliated with deluxe accounts.

Actualizing the Perquisites of Preferred Rewards

Upon enrolling within the realm of Preferred Rewards, patrons of the Advantage Banking Account unlock an augmented pantheon of benefits, spanning superior reward tariffs, an elevation in interest rates concerning savings repositories, and the boon of mortgage-related privileges.

Steps toward a Seamless Banking Transition

The shift to the Advantage Banking Account is seamless, necessitating adherence to a trifling number of uncomplicated phases. By adhering to these steps, the seamless transference of preexisting accounts, the activation of direct fund deposits, and the embrace of a more enriching banking expedition are assured.

Effective Account Management

Strategies for Equilibrium and Vigilance

Instituting vigilance over your financial metrics stands as a pivotal imperative. The gamut of online instruments provided by the Advantage Banking Account empowers you to set alerts, scrutinize your transactions, and engineer a balanced fiscal itinerary.

Maximizing the Advantage Banking Experience

The acme of your Advantage Banking Account voyage resides in the thorough exploration of the myriad attributes, rewards, and concessions on offer. Regular forays to ascertain novel offerings and to stay attuned to the latest programmatic updates augments your banking sojourn.

Patron Assistance and Support

Bank of America assumes the mantle of commendable patron support. Queries regarding your account, requisites for technological succor, and inquiries concerning supplementary banking amenities find resolution within the precincts of the bank’s customer service coterie—ever ready to proffer assistance.

Conclusion

The Personal Bank of America Advantage Banking Account unspools a conspicuous panacea for individuals ensnared in the quest for a sweeping and remunerative banking odyssey. An odyssey that traverses the terrain from untroubled online and mobile banking to the rendezvous with a far-reaching ATM network, concessions, and a bespoke financial aegis. In cherry-picking this account, you’re not merely opening an account—you’re embracing an all-encompassing financial peregrination.

Frequently Asked Questions (FAQs)

Is the Advantage Banking Account amenable to Joint Account Holders?

Indubitably, the possibility exists for a joint venture, wherein an Advantage Banking Account is inaugurated through shared efforts.

Do Monthly Maintenance Fees Find Resonance?

Beneficiaries of the Advantage Banking Account have recourse to steering clear of monthly maintenance dues by satisfying stipulated benchmarks, such as upholding a baseline diurnal balance.

Can Ties Be Forged Between My Advantage Banking Account and Other Bank of America Accounts?

Of course, the salient option of linking your Advantage Banking Account to other accounts within the Bank of America ambit prevails, heralding expedited resource transits and administration.

What Encompasses the Keep the Change® Program?

The Keep the Change® program unfurls a singular savings stratagem that orchestrates the rounding up of procurement sums to the closest dollar, funneling the remainder into your savings account.

Whence Does Enrollment in Preferred Rewards Emanate?

The ingress into the pantheon of Preferred Rewards is facilitated by the satisfaction of qualifying balance criteria spanning the expanse of your Bank of America affiliations.