$7,500 Free Cash Deposits Per Month
You can deposit $7,500 of cash for free into your account each month at an ATM or financial center.
For every $100 beyond the $7,500, you pay $0.30.
To determine the $100 fee, amounts are rounded to the nearest $100, with amounts less than $50 rounded down.
200 Free Monthly Transactions
This account has a limit of 200 free monthly transactionsfor the following transaction types:.
1) Checks paid.
2) Other debits.
3) Deposited items After you exceed 200 of these transactions, each additional transaction costs $0.45.
Some transactions are exempt from the excess transaction fee.
These include:.
1) Debit card transactions.
2) Electronic deb.
Could Another Bank of America Business Checking Account Be A Better Fit?
Bank of America also offers another business checking account.
It’s called the Business Advantage Relationship Banking account.
How much does a business fundamentals account cost?
The Business Fundamentals account has a $16 monthly maintenance fee.
The Business Advantage Relationship Banking account is $29.95 per month.
However, both accounts offer ways that customers can avoid the monthly fees:
Maintain a $5000 combined average monthly balance across your linked Bank of America accounts . How to Choose A Business Checking Account
Business checking accounts have several factors to consider, but choosing the best account for your business shouldn’t be difficult.
Evaluating all of your options could take a bit of time, though.
The best way to start the process is to figure out what banking services your business needs.
You should understand the following needs at a minimum: 1..
How to Open The Account
Bank of America offers three options to open a business checking account.
You can:.
1) Choose your account type and apply online.
2) Call 866-543-2808.
3) Visit a financial center location The information you need to apply for your account depends on your business type.
Business types include:.
1) Limited liability company (LLC).
2) Sole proprietorship .
Monthly Service Fee
The Bank of America Business Advantage Fundamental checking account charges a $16 monthly service fee.
This fee can be waived if you meet at least one of a list of specific requirements each month.
These requirements include:.
1) Maintaining a $5,000 combined average monthly balance.
2) Spend at least $250 of new net qualifying purchases on your debi.
Other Features Offered by This Account
As an account holder, you get access to several other tools within the Bank of America ecosystem.
These include: 1. Zelle - A free service that allows you to send, request, and receive money between other eligible bank accounts in the U.S.
2) Erica - A virtual assistant to help transfer funds, send funds to others, search transactions, and other au.
What is a business advantage fundamentals banking account?
This account is for larger businesses that have exceeded the limits of the Business Advantage Fundamentals Banking checking account.
This account has a higher $29.95 monthly fee, which can also be waived.
To waive the monthly fee, you must hold a higher $15,000 combined average monthly balance or be a Preferred Rewards for Business member.
What is the difference between Business Fundamentals & Business Advantage?
Free stop payments and wire transfers:
Avoid getting nickel-and-dimed on qualifying payments.
The Business Fundamentals account has a $16 monthly maintenance fee.
The Business Advantage Relationship Banking account is $29.95 per month.
However, both accounts offer ways that customers can avoid the monthly fees:. What's the minimum amount I need to keep in my Bank of America Business Advantage Fundamentals checking account?
The minimum amount you need to keep in your Bank of America Business Advantage Fundamentals checking account is $5000, in order to avoid the $16 mo...
What is the minimum deposit required to open a Bank of America Business Fundamentals Checking account?
The minimum deposit required to open a Bank of America Business Fundamentals Checking account is $100.
How can I add my Bank of America Business Fundamentals Checking Account to Bill Pay?
You can add your Bank of America Business Fundamentals Checking Account to Bill Pay by signing in to your Bank of America account and going to your...
What are the Bank of America checking account Enhanced Payroll fees?
Bank of America checking accounts do not have enhanced payroll fees. Enhanced Payroll is a type of QuickBooks software subscription that helps busi...
How can I deposit a check of over $50,000 from Hawaii?
You can enroll in the Remote Deposit Online service to deposit your check. You can find information about it here: https://www.bankofamerica.com/sm...
,The Bank of America Business Advantage Fundamental checking account charges a $16 monthly service fee. This fee can be waive…
