Bank of America free checking for customers who use direct deposit of checks, checks and Social Security, or minimum balance levels.
Under the new format, some consumers will be able to qualify in several ways. For example, in "improved" without checking account would not get if they had regular use of credit cards, keep $ 5,000 or more in savings or had at least $ 2,000 in monthly deposits, not just by filing direct. Otherwise, a result costs $ 15 per month.
- Open an account with only $ 25
- Get $ 50 in an open network
- No minimum balance required
- Free online banking with free bill payment
- Bank of America Visa ® Check Card free with Total Security
Protection ® and Photo Security ®
- Account with direct deposit: No monthly maintenance fees
- Without direct deposit account: $ 5.95 per month
- Check Storage free feature with online banking
- The $ savings overdraft protection linked 10/transfer
Checking Accounts Were Never Really Free
Bank of America free checking CEO Brian Moynihan, without consulting confessed at a press conference that the allegations were found to produce much revenue. But the bank has been losing customers, who often was a big surprise hidden costs.
Checking accounts were closed at an annual rate of 18%, he said, and complaints were at record levels.Moynihan, then no more overdraft fees on small debit card transactions. He said the closure rate has been reduced from 27%.
To this loss of rights, has also begun to consider the new products. In August, the bank has introduced a new account "e-banking", where they were offered customers a free account control, if banked online. The catch: If you opt for paper statements, or want access to the basic operations of tellers, who would be charged the monthly fee is $ 8.95.
"Customers have never had free checking accounts," said Bank of America spokeswoman Anne Pace. "They have always paid for it by other means, sometimes with a fine."