Bank of America How Much to Open a Checking Account
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Bank of America Business Advantage
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Business Advantage Banking accounts — designed to move your business forward with financial tools, services and dedicated support, all in one place.
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Business Advantage Fundamentals™ Banking
Essential tools for your business needs.
$XXXX or $0
Avoid this monthly fee
- Efficiency tools like Cash Flow Monitor® , Erica, Mobile Check Deposit & more
- Zelle® for your business
- Access to dedicated small business specialists
- Fraud protection & security
Business Advantage Relationship Banking
Robust financial solutions to help manage your business.
$XXXX or $0
Avoid this monthly fee
All Business Advantage Fundamentals™ benefits plus:
- Easy QuickBooks® integration
- Customize account access per employee
- One extra Business Advantage Relationship Banking account and one Business Advantage Savings account can be included for no monthly fee
- No fees for incoming wires, stop payments, electronic deposits & more
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Fundamentals™ Banking
Business Advantage Fundamentals™ Banking
Relationship Banking
Business Advantage Relationship Banking
Maintain a $XXXX combined average monthly balance
Spend at least $XXXX in new net qualified debit card purchases
Maintain a $XXXX combined average monthly balance
A full scope of tools and services — all in one place
Powerful digital tools
Dedicated support
Preferred Rewards for Business
Powerful digital tools
Improve efficiency and complete daily tasks easier with these tools.
Improve efficiency and complete daily tasks easier with these tools.
Profile linking
Easily view and manage personal and business accounts with just one login.
for your business
A fast, safe and easy way for businesses to send, request and receive money directly between eligible bank accounts in the U.S.
Cash Flow Monitor
Get cash flow projections, monitor transactions and view category balances.
Account Management
Customize employee account access and seamlessly integrate bookkeeping with QuickBooks®
No fee with Advantage Relationship Banking
Erica®
Your virtual financial assistant can help transfer or send money, search transactions & more.
Digital debit cards
Start using your debit card immediately for in-store and digital purchases.
Dedicated support
Help when you need it — from our resource center to Small Business Specialists
Help when you need it — from our resource center to Small Business Specialists
Privacy & security
Enjoy business debit cards with our $0 Liability Guarantee and fraud monitoring services. Plus, if there's ever an issue, our fraud department is here for you 24/7. For more information about protecting your business online, visit our Security Center.
Dedicated specialists
Get access to our team of dedicated Small Business Specialists, ready to provide assistance or guidance when you need it.
Small Business Resources
Find in-depth articles, tools and great information designed to help business owners start, run or grow their business.
Preferred Rewards for Business
Enrolling is easy and there's no fee. Members have access to a wide range of benefits and rewards.
Enrolling is easy and there's no fee. Members have access to a wide range of benefits and rewards.
No fees
on select banking services like monthly maintenance fees, inbound wire transfers, and more.
25%-75% Rewards Bonus
on eligible business credit cards.
5% - 20% Interest Rate Booster
on Business Advantage Savings accounts.
Interest rate discounts
on new Business Advantage credit lines, term loans and secured lending.
Payroll Services Cash Back
on eligible payroll service fees.
Professional advice
Complimentary financial analysis with a Merrill® financial solutions advisor.
To qualify for Preferred Rewards for Business, you'll need:
An active, eligible Bank of America Advantage Banking account and a three-month combined average daily balance of $20,000 or more in qualifying Bank of America business deposit accounts and/or Merrill business investment accounts.
Preferred Rewards for Business Overall Program Rules:
The Preferred Rewards for Business program is only available to Small Business, Merrill Small Business, and Bank of America Private Bank® Small Business clients. Clients in the eligible business categories may enroll in the program. To enroll you must have an active, eligible Bank of America business checking account, and maintain a qualifying balance of at least $20,000 for the Gold tier, $50,000 for the Platinum tier, or $100,000 for the Platinum Honors tier in your combined qualifying Bank of America business accounts (such as checking, savings, certificate of deposit) and/or your Merrill business investment accounts (such as Working Capital Management Accounts, Business Investor Accounts, Delaware Business Accounts). The qualifying balance is calculated based on either (i) your average daily balance for a three calendar month period, or (ii) your current combined balance, provided that you enroll at the time you open your first eligible business checking account and satisfy the balance requirement at the end of at least one day within thirty days of opening that account. Refer to your Business Schedule of Fees for details on accounts that qualify towards the combined balance calculation and receive program benefits. Eligibility to enroll is generally available three or more business days after the end of the calendar month in which you satisfy the requirements. Benefits become effective within 30 days of your enrollment, or for new accounts within 30 days of account opening, unless we indicate otherwise. Certain benefits may be available without enrolling in the program if you satisfy balance and other requirements. Additional program information is available at: Preferred Rewards for Business.
Business Schedule of Fees
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Top checking FAQs
What is Business Advantage Banking?
Business Advantage Banking is Bank of America's business checking solution. Business Advantage Banking includes two settings; Business Advantage Fundamentals™ Banking and Business Advantage Relationship Banking. Each setting includes powerful digital features and business services and allows the flexibility to seamlessly move between banking options as your business priorities change. View settings
How long does it take for my account to be opened online?
Application decisions are often immediate. In some cases, we may require additional supporting documentation to approve your application.
If we need additional information for our review, we will email you with the requirements. If requested, you have 11 business days after you apply to send us your supplemental documents.
After your account is open, you should receive your debit card and checks (if ordered) within 5-7 business days. Visit us at a financial center for a temporary debit card and/or checks.
How do I make an initial deposit for an account I opened online?
If you are already a customer, you can make your opening deposit by transferring money from your existing account. If you're transferring money from another bank, you can use a Visa® or MasterCard® debit card, check or money order. You may also use Zelle to send or receive money right from the Bank of America® Mobile app or Online Banking with no fees.
Can I order my business checks online?
Yes, you can reorder checks online by signing in to Small Business Online Banking and selecting your account. On your account page there is a link to reorder checks. You can also reorder checks by calling 1.888.BUSINESS (888.287.4637)
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Bank of America How Much to Open a Checking Account
Source: https://www.bankofamerica.com/smallbusiness/deposits/business-advantage-banking/
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