The schedule establishes an overdraft item fee of $10.00 per item, capped at two items per day, with enumerated exceptions including no fee on debit card or ATM transactions, on items authorized when funds were sufficient, on items of $1 or less, or on accounts set to the Decline All Overdraft setting.
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 defines the conditions under which overdraft fees are assessed and the specific exceptions that apply, which directly governs the financial exposure of account holders who maintain accounts that permit overdrafts; the $10 fee and two-per-day cap represent the bank's stated overdraft cost structure as disclosed in this schedule.
The agreement establishes a $10.00 overdraft item fee per occurrence, capped at two fees per day, applicable to Advantage Plus Banking and Advantage Relationship Banking accounts; the document states that SafeBalance Banking, SafeBalance Banking for Family Banking, and Advantage Savings accounts do not have overdraft item fees, and that Premier tier BofA Rewards members (effective May 26, 2026) will have all overdraft item fees waived.
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Compare across platforms →"During end-of-day processing, when we determine that you do not have enough available funds (an overdraft item) in your account to cover an item, then we either pay the item and overdraw your account (an overdraft item), or we return the item unpaid (a returned item). We may charge an Overdraft Item Fee for each overdraft item, but will not charge this fee for more than 2 overdraft items per day. We do not charge an Overdraft Item Fee: - When we decline or return an item unpaid due to insufficient funds. However, you may be charged a fee by the payee. - On everyday non-recurring debit card transactions or ATM transactions - On items that were authorized when your account had sufficient available funds - On any item that is $1 or less or any item that overdraws your account by $1 or less - On accounts with the Decline All Overdraft Setting, even if the account becomes overdrawnExcerpt from Bank of America's Fee Schedule
(1) REGULATORY LANDSCAPE: Overdraft fee structures are subject to CFPB supervisory authority under the Dodd-Frank Act and Regulation E, which restricts the assessment of overdraft fees on ATM and one-time debit card transactions without affirmative …
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This provision defines the conditions under which overdraft fees are assessed and the specific exceptions that apply, which directly governs the financial exposure of account holders who maintain accounts that permit overdrafts; the $10 fee and two-per-day cap represent the bank's stated overdraft cost structure as disclosed in this schedule.
The agreement establishes a $10.00 overdraft item fee per occurrence, capped at two fees per day, applicable to Advantage Plus Banking and Advantage Relationship Banking accounts; the document states that SafeBalance Banking, SafeBalance Banking for Family Banking, and Advantage Savings accounts do not have overdraft item fees, and that Premier tier BofA Rewards members (effective May 26, 2026) will have …
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