The agreement states that Bank of America may authorize and pay overdrafts at its discretion and without notice, is not obligated to continue paying overdrafts after doing so previously, and is not required to check available balance more than once per item when determining whether to authorize payment.
This analysis describes what Bank of America's agreement states, permits, or reserves. It does not constitute a legal determination about enforceability. Regulatory applicability and practical outcomes may vary by jurisdiction, enforcement context, and individual circumstances. Read our methodology
This provision establishes that overdraft authorization is entirely discretionary, that past overdraft accommodation does not create an obligation to extend future accommodation, and that the bank may assess overdraft fees based on a single available balance check per item.
The updated Deposit Agreement now explicitly discloses that disputes are subject to mandatory arbitration and class action waiver provisions, as stated prominently at the document's opening. The agreement establishes separate dispute resolution procedures for personal and business accounts and introduces new operational provisions governing account closure, jurisdiction and venue, cutoff times for legal orders, and responses to conflicting demands. The terms require that by using or maintaining your account after a change is effective, you agree to be bound by the updated provisions. You can review the complete updated agreement on bankofamerica.com or contact Bank of America directly if you wish to understand how the specific dispute resolution procedures apply to your account.
View change record →Under this provision, personal checking accounts enrolled in the Consumer Standard Overdraft Setting may incur overdraft fees when the bank authorizes and pays items into overdraft at its discretion. The bank is not required to check available balance more than once per item, meaning that changes in balance between authorization and payment may result in overdraft fees. Account holders can request the Decline All Overdraft Setting by calling customer service or visiting a financial center.
Cross-platform context
See how other platforms handle Overdraft Fee Assessment and Discretionary Overdraft Authorization and similar clauses.
Compare across platforms →"We authorize and pay overdrafts at our discretion and without notice to you, which means we do not guarantee that we will always, or ever, authorize and pay them. If we overdraw your account to pay items on one or more occasions, we are not obligated to continue paying overdrafts in the future. We are not required to look at your available balance more than once to determine whether you have sufficient available funds to authorize or pay each item.Excerpt from Bank of America's Deposit Agreement
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This provision establishes that overdraft authorization is entirely discretionary, that past overdraft accommodation does not create an obligation to extend future accommodation, and that the bank may assess overdraft fees based on a single available balance check per item.
Under this provision, personal checking accounts enrolled in the Consumer Standard Overdraft Setting may incur overdraft fees when the bank authorizes and pays items into overdraft at its discretion. The bank is not required to check available balance more than once per item, meaning that changes in balance between authorization and payment may result in overdraft fees. Account holders can …
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