Ken Wolter / Shutterstock.com
Whether you need a convenient way to pay bills, track your finances or provide proof of payment, having a checking account can come in handy. It also serves as a more secure method of payment than cash.
Although there’s no shortage of financial institutions to choose from when you’re interested in opening an account, Bank of America is ranked as one of the best national banks of 2021. So it’s not by accident that the bank has several good checking account options for you to consider. Read on for the full details of the bank’s Advantage Banking checking account settings and what you’ll need to open an account.
What Do You Need To Open an Account at Bank of America?
To open a checking account with Bank of America, you’ll need to provide your personal information to complete the application, including:
- Current mailing address
- Social Security number
- Email address
- Account number (if you have an existing checking account)
- Same information for any joint account holder
You’ll be required to show two forms of identification. Acceptable primary forms of ID include:
- Driver’s license
- State-issued ID with photo
- U.S. passport
- Military ID with photo
- Bank of America-branded debit or credit card with photo
Your second form of ID verifies your primary ID. Types of acceptable secondary IDs include:
- Major credit card from another financial institution
- Major retail credit card from a national department store or retail company
- Debit card with Visa or Mastercard logo from another financial institution
- U.S. college or university ID
- U.S. Student ID card from a local high school
- U.S.-issued employment or work ID card or badge
Decide Which Bank of America Account Is Best for You
Once you’ve gathered your documents, you’ll need to choose the Bank of America checking account setting that best suits your needs. Bank of America currently offers three options:
- Bank of America Advantage Plus Banking®: This account setting is designed for individuals and Students who want an account with a low minimum balance requirement. 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, or you enroll in the Preferred Rewards program.
- Bank of America Advantage Relationship Banking®: This account setting is for individuals who maintain a high balance in their checking account. You’ll earn interest and receive perks such as no service fees, free incoming domestic wires and the option to open other checking or savings accounts with no monthly maintenance fees. If you don’t maintain a combined $10,000 in balances among all of your Bank of America accounts, and you’re not a member of the Preferred Rewards program, then you’ll have to pay a $25 monthly service fee for Advantage Relationship.
- Bank of America Advantage SafeBalance Banking®: The Advantage SafeBalance is a “checkless” checking account setting, which means there is no paper check writing for this account setting. It is more of a digital payment method with a $4.95 monthly service fee that is waived for Students under 25 and Preferred Rewards members.
Now that you’ve reviewed what Bank of America’s Advantage Banking checking settings have to offer, you can make an informed decision as to whether one suits your needs. If you’re still not sure or want to read more before you decide, check out a review of the bank that covers its products, fees and how it compares to its competitors.
Click through to learn more about Bank of America and decide whether it’s the right bank for you.
This article has been updated with additional reporting since its original publication.
Information is accurate as of June 27, 2022.
Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.
Make Your Money Work For You
About the Author
Alicia Bodine is a New Jersey-based writer specializing in finance, travel, gardening and education. With more than 13 years of experience, her work has appeared in Chron.com, Livestrong, eHow, USA TODAY, GlobalPost, Education.com and wiseGEEK.
FAQs
Can I open a new account in Bank of America?
You can apply online for a checking account, savings account, CD or IRA. Simply select an account, enter your personal information, verify your information and choose features & funding options.
How much do you need to open a Bank of America account?
The minimum opening deposit for many Bank of America accounts is $100. Standard Term CDs require $1,000.
Does Bank of America give money for opening an account?
Open a new Bank of America Advantage Banking personal checking account online, using offer code DNL100CIS. Then, set up and receive qualifying direct deposits of $1,000 or more into the account within 90 days to receive a $100 bonus
Can I open an American bank account online?
You can open a US bank account online without setting a foot in the country. No American visa or social security number is required
Does Bank of America have a minimum balance?
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.
How do I get $200 from Bank of America?
Bank of America Customized Cash Rewards Credit Card Bonus
New cardholders can earn $200 cash back after making $1,000 or more in purchases on their card within the first 90 days of opening an account. The bonus posts to the rewards balance in your account eight to 12 weeks after you qualify to receive it.
Which banks pay you to open an account?
Huntington National Bank: $100, $400 or $750 bonus
Business Checking 100: Earn $100 (Minimum deposit of $2,000 required to earn bonus.) Unlimited Business Checking: Earn $400 (Minimum deposit of $5,000 to earn bonus.) Unlimited Plus Business Checking: Earn $750 (Minimum deposit of $20,000 required to earn bonus.)
How long does it take to open a Bank of America account?
How long will it take to open an account when I apply? Your application will be processed in 1 to 2 business days. We’ll send you either an email or letter letting you know if you are approved for your account. You will receive your account documents via U.S. Mail within 7-10 business days.
Is Bank of America a second chance bank?
Bank of America offers a second chance checking account called the Safe Balance Account. The account has a low maintenance fee of $4.95, but you won’t be able to write paper checks. Instead, your payment options include debit, mobile or online transfers or online bill pay.
Can the government see how much money is in your bank account?
Government Agencies
However, there are rules and procedures that must be adhered to by any agency — even a government agency — before the bank will allow them to view your personal banking information or balance and before the bank will comply with a seizure request.
Do you need an appointment to go into Bank of America?
Yes, you can visit a financial center without an appointment.
What money Can the IRS not touch?
Insurance proceeds and dividends paid either to veterans or to their beneficiaries. Interest on insurance dividends left on deposit with the Veterans Administration. Benefits under a dependent-care assistance program.
How much cash deposit is suspicious?
The $10,000 Rule
Ever wondered how much cash deposit is suspicious? The Rule, as created by the Bank Secrecy Act, declares that any individual or business receiving more than $10 000 in a single or multiple cash transactions is legally obligated to report this to the Internal Revenue Service (IRS).
What ID do I need to open a bank account?
One form of primary ID with a photo (i.e. passport or driver’s licence) or. Two forms of primary ID without a photo (e.g. birth certificate and government benefits card) or. One form of primary ID without a photo (e.g. birth certificate or Citizenship papers) and one form of secondary ID (e.g. a utility bill).
Open a Bank Account Online Today – Bank of America
Bank Accounts – Open a Bank Account Online TodayInvesting in securities involves risks, and there is always the potential of losing money when you invest in securities. You should review any planned financial transactions that may have tax or legal implications with your personal tax or legal advisor.Securities products are provided by Merrill Lynch, Pierce, Fenner & Smith Incorporated (also referred to as “MLPF&S”, or “Merrill”), a registered broker-dealer, registered investment adviser, Member SIPC layer, and a wholly-owned subsidiary of Bank of America Corporation. MLPF&S makes available certain investment products sponsored, managed, distributed or provided by companies that are affiliates of Bank of America Corporation.Bank of America Private Bank is a division of Bank of America, N.A., Member FDIC and a wholly owned subsidiary of Bank of America Corporation. Trust and fiduciary services are provided by Bank of America, N.A. and U.S. Trust Company of Delaware. Both are indirect subsidiaries of Bank of America Corporation.Insurance Products are offered through Merrill Lynch Life Agency Inc. (MLLA) and/or Banc of America Insurance Services, Inc., both of which are licensed insurance agencies and wholly-owned subsidiaries of Bank of America Corporation.Banking, credit card, automobile loans, mortgage and home equity products are provided by Bank of America, N.A. and affiliated banks, Members FDIC and wholly owned subsidiaries of Bank of America Corporation. Credit and collateral are subject to approval. Terms and conditions apply. This is not a commitment to lend. Programs, rates, terms and conditions are subject to change without notice.Investment and insurance products:”Get more rewards with your everyday banking” is a trademark and Bank of America and the Bank of America logo are registered trademarks of the Bank of America Corporation.
Bank of America Checking Account Bonus: $100 – $300 Cash …
Bank of America Checking Account Bonus: $100 – $300 Cash Promotion Skip to primary navigation Skip to main content Skip to primary sidebar Bank of America is one of the largest banks in the United States and chances are you have a branch just around the corner. While headquartered in Charlotte, North Carolina, Bank of America has thousands of ATMs and Financial Centers around the nation. I did a quick search on their location tools and found 50 results within 12.7 miles near me! Bank of America is the second-largest bank behind JPMorgan Chase – and today you can find out how they will give you money to open an account with them. Bank of America has two bonus offers: For new customers – Bank of America has a $100 bonus offerFor existing customers (maybe) – Bank of America will give you $300 Member FDIC. We’ll discuss both: 💰 Get up to $2000 from a Citi Priority Account Today! Citi Priority is offering up to $2000 when you open a Citi Priority Account by 1/9/2023. Then, within 20 days of opening your account, deposit New-to-Citi® funds and keep it there for 60 days after the 21st day. The bonus is based on the amount you transfer. This is a limited time offer so don’t wait! Learn more about this offer Table of ContentsPromotions For New Customers to Bank of America — $100 Bonus OfferExisting Non-Checking Customers — $300Merrill Edge Self-Directed – up to $750How Does This Bonus Compare? Promotions For New Customers to Bank of America — $100 Bonus Offer Bank of America Bonus Summary What you get: $100 Bonus OfferWho qualifies: New checking customers onlyPromotion code: DNB100CISWhere to open: Online onlyHow to get it:Open a Bank of America Advantage SafeBalance Banking®, Bank of America Advantage Plus Banking®, or Bank of America Advantage Relationship Banking® account,set up and receive qualifying direct deposits totaling $1,000 or more into that account within 90 days of account opening* Additional Terms and Conditions apply. See the Bank of America offer page for more details.Bank of America will attempt to pay bonus within 60 days.When does it expire: 12/31/2022 👉 Click here to learn more about this offer If you are not a customer of Bank of America at all, their public nationwide offer is a $100 Bonus Offer and to get it, start by opening a new checking account online through a Bank of America promotional page. Three Bank of America Banking accounts qualify for this bonus: Bank of America Advantage SafeBalance Banking® – $25 minimum opening deposit, $4.95 monthly fee waived for students under 25 or enrollees of Preferred RewardsBank of America Advantage Plus Banking® – $100 minimum opening deposit, $12 monthly fee waived with direct deposit or daily balance requirements, etc.Bank of America Advantage Relationship Banking® – $100 minimum opening deposit, $25 monthly fee waived with direct deposit or daily balance requirements, etc. Open the account and set up and receive qualifying direct deposits totaling $1,000 or more into that account within 90 days of account opening to get your bonus. Don’t forget, the Bank of America promotional offer code is DNB100CIS….
How To Open a Bank of America Checking Account
How To Open a Bank of America Account Ken Wolter / Shutterstock.com Whether you need a convenient way to pay bills, track your finances or provide proof of payment, having a checking account can come in handy. It also serves as a more secure method of payment than cash. Although there’s no shortage of financial institutions to choose from when you’re interested in opening an account, Bank of America is ranked as one of the best national banks of 2021. So it’s not by accident that the bank has several good checking account options for you to consider. Read on for the full details of the bank’s Advantage Banking checking account settings and what you’ll need to open an account. What Do You Need To Open an Account at Bank of America? To open a checking account with Bank of America, you’ll need to provide your personal information to complete the application, including: Current mailing address Social Security number Email address Account number (if you have an existing checking account) Same information for any joint account holder You’ll be required to show two forms of identification. Acceptable primary forms of ID include: Driver’s license State-issued ID with photo U.S. passport Military ID with photo Bank of America-branded debit or credit card with photo Your second form of ID verifies your primary ID. Types of acceptable secondary IDs include: Major credit card from another financial institution Major retail credit card from a national department store or retail company Debit card with Visa or Mastercard logo from another financial institution U.S. college or university ID U.S. Student ID card from a local high school U.S.-issued employment or work ID card or badge Decide Which Bank of America Account Is Best for You Once you’ve gathered your documents, you’ll need to choose the Bank of America checking account setting that best suits your needs. Bank of America currently offers three options: Bank of America Advantage Plus Banking®: This account setting is designed for individuals and Students who want an account with a low minimum balance requirement. 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, or you enroll in the Preferred Rewards program. Bank of America Advantage Relationship Banking®: This account setting is for individuals who maintain a high balance in their checking account. You’ll earn interest and receive perks such as no service fees, free incoming domestic wires and the option to open other checking or savings accounts with no monthly maintenance fees. If you don’t maintain a combined $10,000 in balances among all of your Bank of America accounts, and you’re not a member of the Preferred Rewards program, then you’ll have to pay a $25 monthly service fee for Advantage Relationship. Bank of America Advantage SafeBalance Banking®: The Advantage SafeBalance is a “checkless” checking account setting, which means there is no paper check writing for this account setting. It is more of a digital payment method with a $4.95 monthly service fee that is waived for Students under 25 and Preferred Rewards members. Now that you’ve reviewed what Bank of America’s Advantage Banking checking settings have to offer, you can make an informed decision as to whether one suits your needs. If you’re still not sure or want to read more…
Bank of America Promotions Of September 2022 – Forbes
Bank of America Promotions Of September 2022: Earn Up To $200 By Opening A New Checking Account Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors’ opinions or evaluations. Bank of America (BofA) wants to welcome you as a new customer—with cash when you open a business or personal checking account. As the second-largest U.S. bank in terms of assets, Bank of America has a national presence in keeping with its name: It operates 4,100 branch locations and 16,000 ATMs across 37 states and the District of Columbia. BofA serves around 37 million U.S. customers, including those who hold a substantial amount of assets with the bank and qualify for its Preferred Rewards program, offering reduced fees and additional perks. Bank of America is eager for new customers, too, and uses attractive sign-up bonuses to bring them in. How Can You Earn a Bank of America Checking Account Bonus? It’s relatively easy to qualify for a Bank of America promotion as a new consumer or business checking customer. Here are the steps: Open a new Bank of America checking account through a promotional offer or by using a Bank of America offer code. Meet the promotion’s qualifying conditions. Personal checking accounts generally require a minimum ongoing direct deposit. Business accounts usually require you to make a minimum amount of new-money deposits into your account, and maintain an average balance during a qualifying period. Receive your bonus, usually 60 days after you meet the requirements. Here are the current Bank of America new-account promotions for individual and business checking customers. Offer details are accurate as of Aug. 31, 2022. Bank of America Promotions for 2022 Bank of America Advantage Banking: Earn $100 Bank of America offers a suite of checking account products for consumers, under its Advantage Banking brand. Options include: Bank of America Advantage SafeBalance Banking®, a “checkless” checking account that doesn’t allow paper check writing and has a $4.95 monthly maintenance fee; Bank of America Advantage Plus Banking®, which Bank of America calls “a good choice if you want everyday banking” and carries a $12 monthly fee; and Advantage Relationship Banking, which earns an annual percentage yield (APY) of up to 0.02% and has a $25 monthly fee. What is the offer? Open a new Bank of America Advantage Banking personal checking account online, using offer code DNL100CIS. Then, set up and receive qualifying direct deposits of $1,000 or more into the account within 90 days to receive a $100 bonus. What is considered a direct deposit? Deposits of regular monthly income—such as a salary, pension or Social Security—using your account and routing numbers count as qualifying direct deposits for this promotion. When do you receive your bonus? Bank of America says it will attempt to deposit your bonus within 60 days after you satisfy the qualification requirements. Is there a time limit on the offer? Yes. It’s available to new customers who open accounts by Dec. 31, 2022. Can you avoid the monthly service fee? Bank of America offers several ways for Advantage Banking customers to fend off the maintenance fees: Students under age 25 or other account holders under 18 can receive fee waivers for Advantage SafeBalance Banking accounts. Advantage Plus Banking customers can avoid fees each month with a qualifying direct deposit of $250, or by maintaining a daily balance of $1,500 or more. With Advantage Relationship Banking, Bank of America waives the monthly fees when a customer keeps a combined balance of at least $10,000 across linked accounts. You pay no service fees for any Advantage Banking checking account if you’re enrolled in Preferred Rewards. Bank of America Business Checking: Earn $100 or $200 For small business customers, Bank of America offers Business Advantage checking, featuring access to small business specialists and tools, including the bank’s Cash Flow Monitor. The more basic Bank of America Business Advantage Fundamentals™ Banking has a monthly maintenance fee of…
Bank of America Promotions – CreditDonkey
Bank of AmericaBank of America PromotionsRead our in-depth review of Bank of America to see why Bank of America scored 3.2 stars out of 5. We like their large branch network, extended customer service hours, and full service banking. If you’re looking for bank promotions, you must check out these offers.$100Bank of America Advantage Plus Banking® – $100 Bonus OfferOpen a new Bank of America Advantage Banking account. Use offer code DNA100CIS when opening the checking account. Set up and receive $1,000 or more within 90 days of account opening. Receive the $100 bonus within 60 days after completing all requirements.The $100 bonus offer is an online only offer and must be opened through the Bank of America promotional page. The offer is for new checking customers only. Additional terms and conditions apply. See offer page for more details. Member FDICExpires 12/31/2022Minimum Deposit to Open: $100Direct Deposit Required: YesWhen Do You Get It: Within 60 days after completing requirementsWhere to Open: Offer is available online nationwide.Monthly Fee: $12 Monthly Maintenance Fee OR waived with: At least one qualifying direct deposit of $250 or more, OR minimum daily balance of $1,500 or more, OR enrollment in Preferred Rewards, OR a waiver for eligible students under 24 $100Bank of America Advantage Relationship Banking® – $100 Bonus OfferOpen a new Bank of America Advantage Banking account. Use offer code DNA100CIS when opening the checking account. Set up and receive $1,000 or more within 90 days of account opening. Receive the $100 bonus within 60 days after completing all requirements.The $100 bonus offer is an online only offer and must be opened through the Bank of America promotional page. The offer is for new checking customers only. Additional terms and conditions apply. See offer page for more details. Member FDICExpires 12/31/2022Minimum Deposit to Open: $100Direct Deposit Required: YesWhen Do You Get It: Within 60 days after completing requirementsWhere to Open: Offer is available online nationwide.Monthly Fee: $25 Monthly Maintenance Fee OR waived with: A combined balance of $10,000 in eligible linked accounts OR enrollment in Preferred Rewards $100Bank of America Advantage SafeBalance Banking® – $100 Bonus OfferOpen a new Bank of America Advantage Banking account. Use offer code DNA100CIS when opening the checking account. Set up and receive $1,000 or more within 90 days of account opening. Receive the $100 bonus within 60 days after completing all requirements.The $100 bonus offer is an online only offer and must be opened through the Bank of America promotional page. The offer is for new checking customers only. Additional terms and conditions apply. See offer page for more details. Member FDICExpires 12/31/2022Minimum Deposit to Open: $25Direct Deposit Required: YesWhen Do You Get It: Within 60 days after completing requirementsWhere to Open: Offer is available online nationwide.Monthly Fee: $4.95 Monthly Maintenance Fee OR waived with: Enrollment in Preferred Rewards, OR a waiver for eligible students under 24 Bank of America Advantage Plus Banking®Member FDICMinimum Deposit Required: $100Monthly Fee: $12 Monthly Maintenance Fee OR waived with: At least one qualifying direct deposit of $250 or more, OR minimum daily balance of $1,500 or more, OR enrollment in Preferred Rewards, OR a waiver for eligible students under 24 Business Advantage Fundamentals Banking200 free transactions per month $7,500 in cash deposits per month Waive the $16 monthly fee in a variety of waysMinimum Deposit to Open: $100Monthly Fee: $16 (can be waived by spending $250 in new net qualified debit card purchases each month)Business Advantage Relationship Banking500 free transactions per month $20,000 in cash deposits…
Register – Bank of America
Register – Bank of AmericaFirst we need to create your profile/account. Please complete the information to do so. Once created you will need to validate your email address and complete some final pieces of information.Please use a non university e-mail address that you will have permanent access to as our main method of contact with you will be via e-mail. The email address you enter will become your username to login with. First Name Last Name E-mail Confirm E-mail Choose Password (min 12 characters) Confirm Password By creating an account, you consent to Bank of America (and any third party acting on its behalf) using your personal information which Bank of America receives during the account creation process. You further agree that the Bank of America Group may transfer, process and store your personal data in any location where the Bank of America Group has offices. For further details on how Bank of America will process your personal information please read our Data Protection Notice for the region you are applying to below:Asia Pacific | Canada | Europe, Middle East & Africa | Latin America | United States | United States T&Cs I agree with the conditions set out in the Data Protection Notice I agree with the conditions set out in the Data Protection Notice Login
Bank of America Checking Accounts – Bankrate.com
Bank of America Checking Accounts | BankrateBank of America is one of the largest banks in the U.S. and it offers a wide selection of products and services.Bank of America offers several different checking account options. Each connects to the bank’s highly rated mobile app to help you manage your finances. As a BofA customer, you’ll also have access to a large network of bank branches and ATMs. Bank of America earned 3.2 out of 5 stars in Bankrate’s overall review of its deposit accounts.Here’s a closer look at the checking accounts offered by BofA to help you decide whether one is a good choice for you.Bank of America checking accountsBofA offers these checking accounts: Account name APY Minimum deposit Monthly fee Bank of America Advantage SafeBalance Banking None $25 $4.95 Bank of America Advantage Plus None $100 $12 Bank of America Advantage Relationship 0.01%-0.02%* $100 $25 Note: Annual percentage yields (APYs) shown are as of Jan. 24, 2021, and may vary by region for some products.*APY varies based on account balanceFind out everything you need to know about them below: Bank of America Advantage SafeBalance Banking Bank of America Advantage Plus Bank of America Advantage Relationship 1. Bank of America Advantage SafeBalance BankingThe Advantage SafeBalance Banking checking account has safeguards in place to help you keep spending within the bounds of your account balance.Instead of allowing an overdraft to occur, BofA will decline your transactions if the funds aren’t available in your account, avoiding an overdraft fee.Checks are not offered with this account; transactions are conducted using a debit card, Zelle and digital banking.Minimum opening deposit: $25Bank of America Advantage SafeBalance Banking FeesThe SafeBalance Banking account has a monthly maintenance fee of $4.95 that is waived for eligible students under age 25 and customers enrolled in Bank of America’s Preferred Rewards program.BofA charges no ATM fees for withdrawn from one of its more than 16,000 ATMs. Using an ATM outside of Bank of America’s network in the U.S. results in a $2.50 charge for each ATM withdrawal — plus any fees charged by the ATM owner.Other fees to be aware of with this account include: paper statement copy fee ($5); stop payment fee ($30); card replacement fee ($5); cashier’s check fee ($15); and outgoing international wire fee ($45). There are no overdraft fees as the account cannot be overdrawn.2. Bank of America Advantage PlusThe Advantage Plus checking account offered by Bank of America offers more standard features than the SafeBalance banking account. Purchases can be paid by debit card, Zelle, mobile and online banking, or checks.In addition, an overdraft protection transfer feature can be added to the Advantage Plus account, which automatically transfers funds from a linked savings or checking account to cover purchases.Minimum opening deposit: $100Bank of America Advantage Plus FeesA $12 monthly fee applies to the Advantage Plus account, but it can be waived if you: Maintain a $1,500 minimum daily balance Enroll in BofA’s Preferred Rewards program Are an eligible student under age 25. (Effective Feb. 18, 2022, BofA will no longer waive the monthly fee for students with Advantage Plus accounts. Cash withdrawals are free at Bank of America ATMs. Funds withdrawn from out-network ATMs in the U.S. are subject to $2.50 fee, plus any fees charged by the ATM operator.Unlike the SafeBalance Banking account, the Advantage Plus Fees account charges an overdraft fee ($35 per item). If you choose the overdraft protection transfer feature, BofA automatically transfers funds from other linked accounts to cover the outstanding amount — but at a cost: $12 each instance.A few other notable fees that you might have to contend with include: Card replacement fee ($5) Incoming domestic wire transfer fee ($15) Printed statement copies ($5) 3. Bank of America Advantage RelationshipThe Advantage Relationship checking account is an interest-bearing account that offers tiered rates on all balances, though the APYs offered are relatively low.The account allows you to pay for purchases with a debit card, Zelle, check, or mobile and online banking. Like the Advantage Plus account, you’ll have the option to add overdraft protection to cover for any overdraft transactions.Minimum opening deposit: $100.Bank…
How to Close Bank of America Account – Stilt
How to Close Bank of America Account Posted by Frank Gogol in Banking | Updated on August 23, 2022 Disclosure: Stilt is a lending company. Nonetheless, we are committed to providing our users with high-quality resources and accurate information about immigration and finance. Considering it’s the biggest bank in the United States, it’s not a surprise that Bank of America has more than $2 trillion in assets. Although it feels great to have an account at this bank, the fee you’re charged every month may make you want to close your account and open a different one with another bank. Fees are an issue for both citizens and non-US citizens. So, how do you close a Bank of America account when you no longer need it? Find out what you have to do by reading the next paragraphs. Is It Possible to Close a Bank of America Account? Yes, it is possible to close your account, but it depends on the method you prefer. For instance, if you wish to close it online, this won’t be possible. At the moment, there isn’t any option that allows you to close your account using their website. You can’t do it through their smartphone app either. It may not be too convenient that you cannot do this, but at the same time, it’s probably a safety measure taken so no third party could close your account without your consent. However, there are other methods that you could use if you want to close your Bank of America account. What to Do Before You Close Your Account Before closing your Bank of America account, you should make sure that you have your new bank account ready. If you were already intending to open a bank account with another financial institution, you should do it before your current one is closed. Having a new account will be more useful than you think because you can just transfer the balance from the Bank of America account to the new bank account. So, ensure that you do that first. 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. If you have companies that you have to pay automatically from your bank account monthly, you have to let them know about your situation. This ensures there won’t be anything else linked to your old account, and there will be no money on it that can be withdrawn. What you should do afterward is go to the website of the bank, and download all the monthly bank statements from the old account. You may find yourself in situations where the statements will come in handy in the future. Close account statements may be difficult to obtain later, which is why you should make sure to get these while you still have the account open. 3 Ways to Close a Bank of America Account So, you’ve made up your mind and you’re sure that you would like to close your Bank of America account. Now what? Well, you must know how to close your account, as there are a few methods available. We’ve established that closing your account online is not possible, so how can you do it? Here are the available methods: Going to a Local Bank One of the obvious methods is by going to a physical bank, of course. You have to go to a branch of the Bank of America. Once you’re there, you will tell them that you wish to close your existing account. To close your account, you will need to: Request an account closureVerify your identity (address, SSN, birthday, etc) From here, the teller or bank manager will do the rest. If you haven’t already transferred…