This fee can disadvantage consumers without reliable internet access who rely on paper statements, and may constitute a barrier for elderly or low-income customers who prefer or require physical statements.
This fee schedule directly affects consumers' finances by detailing charges that can be assessed on their bank accounts, including potentially significant overdraft fees, monthly maintenance fees, and transaction charges. Consumers who do not meet balance minimums or eligibility criteria for fee waivers may incur recurring costs that reduce their account balances. You can avoid many fees by maintaining minimum balance requirements, enrolling in qualifying direct deposit programs, or switching to accounts with lower or no monthly fees through Bank of America's online banking portal.