Almost every one of us has achecking account.
For many of us, checking is the way we pay our bills and budget for our lives.
Its not where we store an abundance of money, like a savings account.
Instead it holds enough to cover regular expenditures, and ideally, a little buffer cash.
Often, banks withbusiness checking accountscharge users a fee monthly to maintain this service.
This one account was available to users without maintenance or ATM fees.
7 Ways to Make Money if You Hate People
Do you avoid people too?
Enough small talk.Here are some waysto earn extra cash, without all of the social stuff.
This was a simple way for people to avoid monthly charges.
Then, in 2018, the bank changed course.
Members who didnt fit certain criteria for this account could be charged $12 a month.
Still, that left many people susceptible to paying this monthly charge.
And more banks startedcharging monthly maintenance feesto customers who didnt maintain a minimum daily balance.
But not everyone took this news lying down.
There was apetition on Change.orgasking Bank of America not to end its free checking.
After it launched, the petition garnered more than a whopping 380,000 signatures.
The decision wasnt popular, to say the least.
So, what will BofA customers pay to maintain a checking account with the bank in 2023?
It depends on a couple factors.
(And theres no longer a Core Checking account.)
This may vary based on location, as well.
Heres a table so you could view the different details and fees for BofA checking accounts at a glance.
Its BofAs rewards program, and there are three tiers: Gold, Platinum and Platinum Honors.
To be eligible, the customer must:
Note: Students may be asked to show proof of enrollment.
To recap, heres how you’re free to avoid these fees, by account.
it’s possible for you to view a list of some feeshere.
If your account is eligible, you might also sign up for protection from overdrafts.
ATM Fees (Out of web link, International, etc.)
Bank of America charges users $2.50 domestically and $5 internationally for using non-branded ATMs.
You might also incur other ATM operator and international fees.
you’ve got the option to avoid fees entirely by only using Bank of America ATMs.
This information applies to checking accounts.
For instance, does your employer offer direct salary payment into your account?
Otherwise, you might want to consider the Bank of America Advantage SafeBalance Banking account.
But its worth it if it will save you cash and headaches.
you’re able to choose from a variety of online-only and traditional banks.
Bonus: Some banks can even help youget your paycheck faster.
Just peep the fine print to double-check youre aware of any ancillary costs.
There are other banks, and far too many better, easier-to-manage options out there.
Kent McDill is a veteran journalist who has specialized in personal finance topics since 2013.
He is a contributor to The Penny Hoarder.
Probably not as good as youd like.
It always seems like an uphill battle to build (and keep) a decent amount in savings.
But what if your car breaks down, or you have a sudden medical bill?
Ask one of these companies to help…
