Bank of America Advantage Relationship Banking Checking Account

A combined balance is the total amount of money you keep across your different Bank of America accounts. Unless enrolled in Preferred Rewards, you can have the monthly fee waived on the Bank of America Advantage Relationship Banking checking account by maintaining a combined balance of at least $10,000 in eligible Bank of America accounts. Combined balances include:

• average daily balances for the statement period in your linked checking, savings, and money market accounts, and
• current balances linked in your personal CDs and IRAs, and
• current balances as they are 2 business days before the end of the checking statement cycle in your eligible linked Merrill Edge and Merrill Lynch investment accounts.

If you want to open additional checking and/or savings accounts with Bank of America, and benefit from monthly fee waivers on them, you can do so by getting in touch with a Bank of America representative, whether it be by visiting one of their financial centers or by calling them at the number you'll find on your monthly statement. Bank of America won't automatically link any additional accounts to your primary checking account, the Advantage Relationship Banking in this case, unless you tell them.

You should know that you can open up to 3 additional Bank of America checking accounts, and up to 4 additional Bank of America savings accounts without paying monthly fees. All other fees, minimum balance or deposit requirements still apply.

Safe and convenient, digital wallets allow you to pay for your purchases without using your physical debit card, but by using your smartphone, tablet, wearable or other device instead. Normally, you'll have to download a mobile app, where you'll store your physical debit card information. This way, every time you make a digital wallet purchase, your card number won't be shared with a merchant, as digital wallets use tokens as a substitute for your account number. You can complete your purchase with a simple tap, without having to reach out for your debit card at all! Plus, digital wallets can be used for in-store, in-app or online purchases!

Depending on your device, you can link your Bank of America debit card to Apple Pay, Google Pay, Samsung Pay, Microsoft Wallet, and Visa Checkout.

In addition to the Advantage Relationship Banking offering quite a lot of banking products free of charge, this checking account also pays interest. While it comes with a higher monthly fee, it can be waived by keeping at least $10,000 across different Bank of America bank accounts. This makes it more suitable for those with high balances, who'd be interested in opening more than one account with Bank of America.

In terms of all other features and services, the Bank of America Advantage Relationship Banking checking account and the Bank of America Advantage Plus Banking checking account are the same!

With BankAmeriDeals, you'll earn cash back when you use your Bank of America debit card to pay for purchases offered through the program. Cash back deals are available in Bank of America Online Banking as well as on the Bank of America Mobile Banking app. Once you've enrolled in Online and Mobile Banking, you'll be able to view offers automatically, and select the deals you want.

Your cashback rewards will be credited to your Advantage SafeBalance Banking checking account within 30 days following redemption.

Whether you're a Gold, Platinum or Platinum Honors tier member of Bank of America's Preferred Rewards program, you'll get:

• savings rate interest boosters,
• credit card rewards bonuses,
• free non-Bank of America ATM Transactions (not available for Gold),
• Merrill Guided Investing program fee discounts,
• Priority member service,
• reduced origination fees on Bank of America's mortgages,
• home equity discounts,
• auto loan discounts,
• no monthly maintenance fees on up to 4 eligible checking and 4 savings accounts from Bank of America,
• no fees on select services, including standard check orders, cashier's checks, incoming domestic wire transfers and more (the "more" depends on your tier),
• foreign currency exchange rate discounts.

You can enroll in the Bank of America Preferred Rewards program for free if you meet a certain minimum balance requirement. More precisely, the Preferred Rewards is a tier-based program that is available to Bank of America's customers who reach a balance threshold that qualifies them for the program.

Currently, there are 3 tiers that comes with exclusive benefits that are more valuable as you move up higher to the next rewards tier: 

1. Gold, for balances between $20,000 and < $50,000.
2. Platinum, for balances between $50,000 and <$100,000.
3. Platinum Honors, for balances of $100,000+.

To qualify for Gold, for example, you'll need an eligible Bank of America personal checking account, and a 3-month average combined balance of $20,000 in qualifying Bank of America deposit accounts and/or Merrill investment accounts. The same applies to the other two tiers, only the balance requirement changes.

If you have a savings account with Bank of America, you might be interested in knowing you'll receive interest rate boosters on your Bank of America savings account balance if you qualify and enroll in the bank's Preferred Rewards. Interest rate boosters vary based on your Preferred Rewards status. If your status is:

• Gold: you'll receive an interest rate booster of 5%.
• Platinum: you'll receive an interest rate booster of 10%.
• Platinum Honors: you'll receive an interest rate booster of 20%.

So, for example, if the current interest rate on a Bank of America Savings Account is 1%, it will be increased to 1.05%, 1.10%, and 1.20%, as per each status tier, respectively.

Bank of America's Overdraft Protection is an optional service you can choose to include in your Advantage Relationship Banking checking account. With Overdraft Protection, you'll be able to link your Bank of America Advantage Relationship Banking to another Bank of America account of yours, whether it be a second checking account, savings account or a credit card. This way, in case you don't have enough funds in your Advantage Relationship Banking checking account balance to cover a transaction, money will be automatically transferred from your linked account to your Advantage Relationship Banking.

It costs nothing to enroll in Overdraft Protection, and, as an Advantage Relationship Banking customer, you qualify for transfer fee waivers ($12 per transfer).

Bank of America uses different routing numbers for wire transfers and ACH transactions. Also, in Florida, Illinois, Missouri, and Texas, the bank has several routing numbers, which vary from location to location.

In Online Banking, you can find your account and routing number when you sign in to your Bank of America bank account, and go to the Information and Services tab.

If accessing your account through Bank of America's Mobile Banking app, the information is available under "Account Details" after you've selected your account from Accounts Overview.