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This provision creates a fee structure with conditional waiver mechanisms, establishing the operational conditions under which account holders can avoid the recurring monthly charge. The availability of multiple waiver pathways affects the cost structure of account maintenance depending on customer account activity and program participation.
Account holders are subject to a Monthly Maintenance Fee unless they satisfy at least one of the specified waiver conditions applicable to their account type. The fee obligation is contingent on account activity metrics and program enrollment status, which determine whether the fee applies in each billing cycle.
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"A Monthly Maintenance Fee will apply to your account each statement cycle unless you meet one of the requirements to waive it. Requirements to waive the Monthly Maintenance Fee vary by account type and may include maintaining a minimum daily balance, receiving qualifying direct deposits, or being enrolled in the Preferred Rewards program.— Excerpt from Bank of America's Bank of America Fee Schedule
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This provision creates a fee structure with conditional waiver mechanisms, establishing the operational conditions under which account holders can avoid the recurring monthly charge. The availability of multiple waiver pathways affects the cost structure of account maintenance depending on customer account activity and program participation.
Account holders are subject to a Monthly Maintenance Fee unless they satisfy at least one of the specified waiver conditions applicable to their account type. The fee obligation is contingent on account activity metrics and program enrollment status, which determine whether the fee applies in each billing cycle.
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