Also for kids, but parents are custodians and there’s a minimum opening deposit of $100. Use CUA debit cards anywhere VISA is accepted, either with a PIN or signature. Requires an initial deposit of $10,000, but rates are guaranteed and it offers term lengths of 13, 25 or 37 months. The first way to avoid the fee is to have a qualifying direct deposit of at least $250. Both transaction types are deducted from your checking account. I have not had many problems with them. Debit cards are also available for businesses! Minimum opening deposit: $100 Bank of America Advantage Plus Fees. Checking Accounts. Bank of America has phased out eBanking and transferred those customers to “core checking accounts” that require them to contribute a direct deposit of at least $250 a month (that’s $3,000 a year) or keep a minimum daily balance of at least $1,500 to avoid the $12 monthly fee. ... 4 By: liam47 I’ve had a checking account on Bank of America for a few years. That’s higher than some other business checking account offerings. The account has a … The Union Bank Private Advantage checking account is available to clients who maintain a combined minimum monthly balance of $250,000 in their checking, savings, investment, or … High monthly balance minimums: To have your monthly fee waived, Bank of America requires you to have an average balance of $3,000 to $15,000. The $8 monthly fee can be waived with a minimum daily balance of $500. There are a few ways consumers can avoid the $12 monthly maintenance fee. Bank of America Custodial Savings. If you have companies that you have to pay automatically from your bank account monthly, you have to let them know about your situation. These fees can be avoided if at least $2,500 is spent on a business credit card, the average monthly balance is $15,000 or more, the average monthly combined balance in linked Bank of America accounts is at least $35,000, or if the business uses Bank of America Merchant Services or Payroll by Intuit. Now, the bank has swapped those remaining customers into Core Checking, an account that requires customers to maintain a minimum daily balance of $1,500 or … Get ATM and point-of-sale access to your business checking. Bank of America offers three checking accounts – Core Checking, Interest Checking, and Safe Balance Banking each with a different monthly maintenance fee:. Withdraw up to $1,000 daily from ATMs or request cash back on merchant purchases. There have been times where I was charge without consent and ended up over drafting. With the Advantage Plus account, you'll have to pay a monthly maintenance fee of $12. ... who can keep the minimum balance. Then, after the balance in your Bank of America account goes to $0, you should update the payment information on file with all your utility companies, lenders, creditors, and other such companies. The monthly service fee is $12, but Bank of America will waive the fee if you have a monthly $250 direct deposit, you maintain a $1,500 minimum daily balance, you’re a student less than 24 years old or you enroll in the Preferred Rewards program. Bank of America is converting all eBanking accounts into its Core Checking product, which includes a $12 monthly fee. The second is to maintain a minimum daily balance of $1,500 or more. Bank of America Core Checking Account has a $12 Monthly Maintenance fee which is waived with at least 1 direct deposit of $250 each month or maintain a minimum daily balance of $1,500 or more. Bank of America Featured CD account. The minimum deposit for opening a Business Fundamentals Checking account is $100. 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