Bank of America · U.S. checking accounts

Bank of America Advantage SafeBalance Banking

Checking with a $25 opening deposit, debit card, digital banking and direct deposit. No bank overdraft item fees. The $4.95 monthly fee has age, balance and eligible BofA Rewards waivers. No personal check writing; account does not earn interest.

Pros

No bank overdraft item fees.
In-person documentation route for eligible international students and professionals.
An eligible owner under 25, $500 daily balance or qualifying BofA Rewards tier can waive the monthly fee.
Debit card, Bill Pay, direct deposit and eligible Zelle transfers are supported.

Cons

A $25 opening deposit is required.
The $4.95 monthly fee applies unless a waiver condition is met.
Personal checks written on the account are returned unpaid, even with sufficient funds.
ATM, foreign-currency, wire and third-party fees can still apply.
Opening is subject to identification, address and tax-document checks; requirements differ by residency.

Generated from the provider's published terms and reviewed against official sources.

Costs and key facts

Recurring fee	4.95 USD
Minimum opening deposit	25 USD
SSN requirement	Conditional
ITIN accepted	Accepted
Credit check	NotStated

Fee waiver: Each statement cycle: a $500 minimum daily balance, an eligible owner under 25, or an owner enrolled in BofA Rewards at Preferred Plus or higher. Fiduciary accounts do not qualify for the age waiver.

Eligibility and application requirements

U.S. address: Conditional

Residency and other conditions: Standard Advantage SafeBalance permits sole ownership from age 16; younger applicants need an adult co-owner, and opening with someone under 13 requires a financial-center appointment. International students opening Advantage Banking are directed to a financial center. Bank of America lists two unexpired IDs and a tax ID if applicable, with an SSN not required for its international-professional branch route. Nonresident aliens need a foreign physical address and U.S. mailing address; resident aliens need a U.S. physical address. Confirm your applicable documents and product eligibility at the appointment.

Geographic restrictions: Reviewed disclosures list no state exclusions; the fee schedule covers all states. Branch availability and opening requirements vary by location and applicant.

Product review: 31 Oct 2026. Source retrieval dates below are separate from editorial verification. An accepted ITIN does not establish residency eligibility.

Compare u.s. checking accounts requirements and costs · How we assess published requirements

Service fees

Overdraft / returned item	0 (currency not confirmed)
Outgoing domestic wire	30 (currency not confirmed)
Incoming wire	15 (currency not confirmed)
Outgoing instant transfer	Not confirmed
Incoming instant transfer	Not confirmed
Global remittance	Not confirmed · International outgoing wire: $45 in USD; no wire fee in foreign currency, but exchange-rate markups apply. International incoming wire: $15. Other banks and taxes may add charges. Eligible BofA Rewards tiers can waive incoming wire fees. No universal percentage fee is disclosed.
Allpoint ATM	Not confirmed
Other ATMs	Bank of America ATMs: $0 bank ATM fee. Other ATMs: $2.50 per U.S. withdrawal/transfer or $5 abroad, plus operator/network charges. Foreign-currency transactions also incur 3%, unless waived. BofA Rewards offers tier-dependent ATM waivers/refunds; some overseas partner ATMs have exceptions. No dedicated Allpoint benefit was verified.
Cash deposit	No bank ATM fee for cash deposits at Bank of America ATMs accepting deposits; not every ATM accepts deposits.