Bank of America charges a recurring monthly fee — up to $25 depending on your account — unless you meet specific conditions like keeping a minimum balance or having regular direct deposits come into the account.
Consumers who fall below the required minimum daily balance or miss a qualifying direct deposit in any given month will be charged the full monthly maintenance fee for that cycle, which can total up to $300 per year for some account types.
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Compare across platforms →This fee is automatic and recurring; if you do not actively monitor your account and ensure you meet waiver conditions every single month, you will be charged without any individual transaction triggering it.
REGULATORY FRAMEWORK: This provision is subject to Regulation DD (12 C.F.R. Part 1030), which requires accurate and non-misleading disclosure of account fees and conditions. CFPB UDAAP authority under Dodd-Frank § 1031 applies to any misleading characterization of waiver conditions. OCC guidance on fair lending and fee transparency also applies.
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