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 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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If Customer selects this option, Customer will not be committed to purchase the Services for a pre-defined term, but will pay Fees based on its daily usage of the Services, billed monthly in arrears.
If you do not timely cancel your subscription, your subscription will be renewed at the full price as indicated when the purchase was made, without any additional action by you, and you authorize us to charge your payment method for these amounts.
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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 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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