Bank of America Raises Cashiers Check Fee

Change COming November 2018

Starting November, Bank of America will change their Cashiers Check cost from $10 to $15. One of the ways to avoid the fee is to have a balance of over 25k, and enroll in the Preferred Rewards program. Both Business Advantage Rewards and Wealth Management Banking accounts will also receive no-fee cashiers checks. Basic personal and business accounts that are not enrolled in the Preferred Rewards program will now have to pay for cashiers checks. 

 

Bank of America Core Checking

No monthly maintenance fee for each statement cycle that you:

1. Have at least one qualifying direct deposit of $250 or more

2. Maintain a minimum daily balance of $1,500 or more.

3. Students under age 24 are eligible to have this fee waived while enrolled in high school, college, university or a vocational program.

4. Enroll in the Preferred Rewards program and qualify for the Gold, Platinum or Platinum Honors tier (first 4 checking accounts).

• Monthly maintenance fee $12/month

• Required Opening Deposit $25

• No fee for Bank of America ATMs

• $2.50/transaction Non-Bank of America ATMs within the U.S.

• $5/transaction Non-Bank of America ATMs outside the U.S.

 

Stop payment: $30.00

Cashier’s checks: $10.00

Incoming wire transfers: $15.00

Domestic wire transfer: $30.00

Foreign wire transfer sent in foreign currency; other banks may charge additional fees: $35.00

Foreign wire transfer sent in U.S. Dollars; other banks may charge additional fees: $45.00

Deposited item returned (each)

Domestic item: $12.00

Foreign item: $15.00

 

Monthly maintenance fee waived for students

Students under the age of 24 who are enrolled in a high school or college, university, or vocational program are eligible to waive the monthly maintenance fee.

For deposits, withdrawals, transfers or balance inquiries

Non-Bank of America ATMs

$2.50 each within the U.S.

Plus any fee charged by the ATM’s operator.

Preferred Rewards Platinum using a Bank of America debit or ATM card will not be charged the non-Bank of America ATM fee and will receive one (1) refund per statement cycle of the ATMoperator or network fee for withdrawals, transfers and balance inquiries from non-Bank of America ATMs in the U.S.

Platinum Honors tier clients using a Bank of America debit or ATM card will not be charged the non-Bank of America ATM fee and will receive a refund of the ATM operator or network fee for withdrawals, transfers and balance inquiries from non-Bank of America ATMs in the U.S.

 

$5 each outside the U.S.

Plus any fee charged by the ATM’s operator.

An International Transaction Fee of 3% of the U.S. dollar amount for each converted ATM cash withdrawal. This fee is assessed as a separate transaction fee on the posting date of the withdrawal.

 

$5.00

This fee is waived for Preferred Rewards clients

To replace an ATM or debit card when your card has not expired; additional $15 per card for rush delivery.

 

Overdraft policy

 

To help you avoid fees, we won’t authorize ATM withdrawals or everyday debit card purchases when you don’t have enough money in your account at the time of the transaction

We offer two overdraft setting options for how you want us to process your other transactions, such as checks and scheduled payments

Option 1: Standard

$35.00

per overdraft or returned item

Use this setting if you want checks or scheduled payments to be completed, even though you may pay a fee. These transactions may be approved and cause an overdraft. We’ll charge a $35 Overdraft Item fee for each payment over $1 that we authorize and pay unless your account is overdrawn by $1 or less. We’ll charge a $35 NSF: Returned Item fee for each payment over $1 that we decline or return unpaid. There’s no NSF: Returned Item fee for one-time or recurring declined debit card payments. However, an Overdraft Item fee can apply to a recurring debit card payment. No more than 4 Overdraft or Returned Item fees are charged per day.

 

Option 2: Decline-All

$35.00

per overdraft or returned item

Use this setting if you want us to decline or return transactions if you don’t have enough money in your account at the time of the transaction. Checks or scheduled payments will be returned unpaid if you don’t have enough money in your account. We’ll charge a $35 NSF: Returned Item fee for each transaction over $1 that we decline or return unpaid. Recurring debit card payments may be authorized when funds are available but cause an overdraft when they post later.

Overdraft Item fees may apply to these payments, but there’s no NSF: Returned Item fee for declined debit card payments. No more than 4 Overdraft or Returned Item fees are charged per day.

 

Emergency cash at the ATM

$35.00

per overdraft transaction

You may be able to authorize an overdraft and access cash at a Bank of America ATM in either setting. You’ll pay a $35 Overdraft Item Fee for the ATM withdrawal. However, we won’t charge this fee if your account balance is overdrawn by $1 or less or you deposit money to cover your overdraft by the end of the business day.

Overdraft Protection Transfer Fee

$12.00 per transfer

Transfer from a linked Bank of America savings or secondary checking account. However, we won’t charge this fee for any item that is $1 or less.

Bill Pay: No fee

Statement copies: $5.00 each

This fee is waived for Preferred Rewards clients

You can avoid this fee by viewing and printing your available statements in the Statements & Documents tab in Online Banking instead of ordering a copy from us.

Check Image Service Fee: $3.00

Per statement cycle that includes a printed check image.

Fee is waived for Preferred Rewards clients.

 

No fee

Printable check images from the last 12 months are available online

Check copies

Fee is waived for the first 2 copies. After 2 copies, there is a $3.00 fee for each copy up to a maximum of $75 per request.

No fee for the first 2 copies of each request. After 2 copies there is a $3 fee for each copy — up to a maximum of $75 per request.

Ordering checks

Varies

Depending on the style you choose.

Preferred Rewards clients get this fee waived on standard checks and discounts on certain styles.

Non-Bank of America Teller Withdrawal Fee

For each transaction, the greater of $5 per withdrawal OR 3% of the dollar amount of the transaction, up to a maximum of $10.

Fee applies when you authorize another financial institution to use your card or card number to conduct a transaction (such as a withdrawal, transfer, or payment) and the other financial institution processes the transaction as a cash disbursement.

Stop payment: $30.00

Cashier’s checks: $10.00

Incoming wire transfers: $15.00

Domestic wire transfer: $30.00

Foreign wire transfer sent in foreign currency; other banks may charge additional fees: $35.00

Foreign wire transfer sent in U.S. Dollars; other banks may charge additional fees: $45.00

Deposited item returned (each)

Domestic item: $12.00

Foreign item: $15.00

---