Bank of America has checking accounts with no monthly maintenance fee if you meet one straightforward requirement

Bank of America offers a checking account with no monthly fee if you set up direct deposit or keep a minimum balance. The account is called the eChecking account, and it works like any other checking account — you get a debit card, online banking, and the ability to write checks. The catch is small: you either need to receive a paycheck or government payment deposited directly into the account each month, or maintain a $500 minimum balance. Most people find the direct deposit route easier.

If you cannot do direct deposit and do not want to keep $500 in the account at all times, Bank of America also offers the eBanking Checking account, which has a $12 monthly fee but no minimum balance requirement. For the purposes of this guide, we are focusing on the free option.

Key Takeaways

  • The eChecking account has no monthly fee if you set up direct deposit of any regular payment — a paycheck, Social Security, unemployment benefits, or pension.
  • If direct deposit is not possible, you can avoid the monthly fee by keeping $500 in the account at all times.
  • You can open an account online, by phone, or in person at a Bank of America branch with just a government ID and Social Security number.
  • The account comes with online banking, a debit card, and the ability to write checks at no extra cost.
  • If you are under 18, you will need a parent or guardian to open the account with you or for you.

What you need to open the account

To open a Bank of America checking account, bring or have ready a government-issued photo ID (a driver's license, passport, or state ID card) and your Social Security number. If you are opening the account in person, bring these documents with you. If you are opening online or by phone, you will enter this information into the form or tell it to the representative.

You will also need to decide how much money you want to deposit to start the account. Bank of America does not require a minimum opening deposit, so you can open the account with $1 if you want. However, if you are planning to use the account without setting up direct deposit, remember that you will need to keep $500 in it at all times to avoid the monthly fee.

If you do not have a Social Security number yet — for example, if you are a non-citizen — you may be able to open an account using an Individual Taxpayer Identification Number (ITIN) instead. Call Bank of America at 1-800-432-1000 to ask whether this is possible at your local branch, as policies can vary.

Opening the account online, by phone, or in person

You have three ways to open a Bank of America checking account. Online is usually the fastest: go to bankofamerica.com, click "Open an Account," and follow the steps. You will enter your personal information, choose your account type (eChecking), and link a funding source — either a bank account to transfer money from, or a debit card. The account typically opens within minutes, and you can start using it right away for online transfers and bill pay. Your debit card will arrive in the mail within 7 to 10 business days.

By phone, call 1-800-432-1000 and ask to open a checking account. A representative will walk you through the same questions and can answer questions as you go. This takes about 15 to 20 minutes. In person at a Bank of America branch is the slowest option but useful if you want to deposit cash or have questions answered face-to-face. Bring your ID and Social Security number, and a banker will open the account while you wait. You can find your nearest branch at bankofamerica.com/locations.

Whichever method you choose, you will be asked to choose a username and password for online banking, and to set up a PIN for your debit card. Write these down somewhere safe — you will need them to access your account.

Setting up direct deposit to waive the monthly fee

Direct deposit means your employer, the government, or another payer sends your money straight into your bank account instead of giving you a paper check. To set up direct deposit with Bank of America, you need your account number and routing number. Both appear on the bottom left of any check you order, or you can find them by logging into online banking and looking at your account details.

Give these numbers to your employer's payroll department, your state's unemployment office, Social Security, or whoever sends you regular payments. They will set up the deposit on their end — you do not need to do anything else. The first deposit usually arrives within one or two pay cycles. Once direct deposit is active, your monthly fee disappears automatically.

Direct deposit counts even if the amount varies month to month. A $50 unemployment check counts just as much as a $2,000 paycheck. If you receive Social Security, a pension, or any other regular government payment, that counts too.

What happens after you open the account

Once your account is open, you can use it when ready for online transfers and bill pay through Bank of America's website or mobile app. Your debit card will arrive in the mail within 7 to 10 business days. When it arrives, you will need to set up it — Bank of America will send you instructions, or you can set up it through the app.

If you ordered checks, they will arrive separately, usually within 10 to 14 business days. You can start writing checks as soon as they arrive. If you need checks sooner, you can order expedited checks through the Bank of America website, though there is a fee for this service.

Your first statement will arrive 30 days after you open the account. You can view it online anytime, or ask to receive paper statements by mail. Online statements are free; paper statements may have a small fee after the first few months, depending on your account type.

If you are under 18

If you are under 18, you cannot open a Bank of America account on your own. A parent or legal guardian must open the account with you or for you. If they open it with you, you will both go to the branch or complete the online process together. If they open it for you, they can do it alone, and you can start using the account once it is set up.

Bank of America offers a Student Checking account for people under 25 with no monthly fee and no minimum balance. This account works the same way as eChecking but is designed for students. Ask about it when you open your account.

Frequently Asked Questions

Do I have to keep $500 in the account if I set up direct deposit?

No. Once direct deposit is active, the monthly fee is waived no matter how much money is in the account. You can spend the money down to $1 if you want. The $500 minimum is only required if you do not have direct deposit.

What if my employer does not offer direct deposit?

You can avoid the monthly fee by keeping $500 in the account at all times. Alternatively, you could ask your employer whether they can set up direct deposit — many employers can do this even if they do not advertise it. If neither option works, the eBanking Checking account charges $12 per month but has no minimum balance.

Can I open an account if I do not have a Social Security number?

You may be able to use an Individual Taxpayer Identification Number (ITIN) instead. Call Bank of America at 1-800-432-1000 to ask whether your local branch accepts ITINs, as policies vary by location.

How long does it take to open an account online?

Opening online usually takes 5 to 10 minutes. Your account is active when ready, and you can use it for transfers and bill pay right away. Your debit card arrives in the mail within 7 to 10 business days.

What if I want to close the account later?

You can close a Bank of America checking account anytime by calling 1-800-432-1000, visiting a branch, or using online banking. Make sure you have spent or transferred out all the money first. There is no fee to close the account.