This is a great question that many Bank of America customers have! It's essential to understand how your checking account works to avoid unexpected fees. While there isn't a set number of checks you can write before being charged an "extra fee" specifically for writing the check itself, fees are primarily associated with situations where writing a check leads to an overdraft or a returned item.
Let's dive into the details, step-by-step, to make sure you're fully informed and can manage your Bank of America checking account with confidence.
How Many Checks Can I Write Before Extra Fees Are Charged at Bank of America? A Comprehensive Guide
Hey there! Ever found yourself wondering about the fine print of your Bank of America checking account, especially when it comes to writing checks? You're not alone! It's super important to know how your banking works to keep your finances in tip-top shape. So, let's get into the nitty-gritty of check writing and potential fees at Bank of America.
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| How Many Checks Can I Write Before Extra Fees Are Charged At Bank Of America |
Step 1: Understand the Core Principle: It's About Your Balance, Not the Quantity!
Are you ready to unlock the secret? The biggest misconception is that banks charge you for how many checks you write. That's generally not the case for personal checking accounts at Bank of America. Instead, fees related to checks primarily come into play when you write a check for an amount that exceeds the available funds in your account. This leads to either an overdraft or a returned item (Non-Sufficient Funds - NSF).
Think of it this way: Your checking account is like a water tank. As long as you have enough water (funds) in the tank, you can draw from it (write checks) as many times as you like. But if you try to draw more water than what's available, that's when you run into problems and potential fees!
Key Takeaway: Bank of America does not charge a fee simply for writing a check. The fees are tied to insufficient funds.
Step 2: Diving Deeper into Overdrafts and NSF Fees
This is where the rubber meets the road. Understanding these two types of fees is crucial.
QuickTip: Don’t ignore the small print.
Sub-heading: Overdraft Item Fee
An Overdraft Item Fee occurs when Bank of America, at its discretion, pays a check (or other transaction) even though you don't have enough money in your account to cover it. Your account then goes into a negative balance (overdrawn).
- Current Fee Amount: As of my last update, Bank of America typically charges a $35 Overdraft Item Fee for each item that causes an overdraft and is paid.
- Daily Limit: There's a limit to how many Overdraft Item Fees you can be charged in a single day. For most consumer accounts, this limit is no more than 4 Overdraft or Returned Item fees per day.
Sub-heading: NSF: Returned Item Fee (Non-Sufficient Funds)
An NSF: Returned Item Fee happens when you write a check, and you do not have enough available funds in your account to cover it, and Bank of America declines or returns the item unpaid. This means the check "bounces," and the person or business you wrote the check to won't receive the payment.
- Current Fee Amount: Similar to an Overdraft Item Fee, Bank of America typically charges a $35 NSF: Returned Item Fee for each item that is declined or returned unpaid due to insufficient funds.
- Important Distinction: While a fee is charged, Bank of America does not charge an NSF: Returned Item fee for one-time or recurring declined debit card payments. However, a recurring debit card payment can incur an Overdraft Item Fee if it's paid and causes an overdraft.
- Daily Limit: The same daily limit of no more than 4 Overdraft or Returned Item fees per day applies.
Sub-heading: Special Note on SafeBalance Banking®
It's important to mention that if you have a Bank of America Advantage SafeBalance Banking® account, you cannot write personal paper checks at all. If a paper check is presented for payment, it will not be paid, even if you have sufficient funds, and you may incur fees from the party you were trying to pay when the check is returned. This account is designed to help avoid overdraft fees by not allowing transactions that would overdraw the account.
Step 3: Strategies to Avoid Overdraft and NSF Fees
Now that you know what to look out for, let's talk about proactive measures. Avoiding these fees is all about diligent account management.
Sub-heading: Monitor Your Available Balance Religiously
This is the most critical step. Always know how much money you actually have available in your account. Your "available balance" is not always the same as your "current balance" because it accounts for pending transactions and holds.
Tip: Reread slowly for better memory.
- Online Banking & Mobile App: Bank of America's online banking and mobile app are your best friends here. Log in regularly to check your balance and recent transactions.
- Alerts: Set up custom alerts to notify you when your balance drops below a certain threshold or when a check clears. This can give you an early warning.
Sub-heading: Utilize Overdraft Protection
Bank of America offers an Overdraft Protection Service. This service allows you to link your checking account to another eligible Bank of America account (like a savings account or a second checking account) or a line of credit. If you're about to overdraw your checking account, funds will automatically transfer from your linked account to cover the transaction.
- Benefit: This can prevent an Overdraft Item Fee or NSF: Returned Item Fee, but be aware that there might be a transfer fee for using the Overdraft Protection Service itself. Check your Personal Schedule of Fees for details. While previously there was an Overdraft Protection Transfer Fee, this fee has been waived as of May 24, 2022. Always confirm the latest fee schedule.
Sub-heading: Keep a Meticulous Check Register
Even in this digital age, a physical or digital check register can be incredibly helpful.
- Record Everything: Immediately record every check you write, including the check number, date, payee, and amount.
- Deduct Deposits: Remember to deduct any deposits as well.
- Reconcile Regularly: Compare your check register to your bank statement or online transaction history frequently to catch any discrepancies.
Sub-heading: Consider Online Bill Pay or Debit Card for Payments
For many recurring payments or everyday purchases, using online bill pay or your debit card can be more convenient and provide real-time transaction updates, making it easier to track your spending and avoid surprises.
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- Online Bill Pay: Set up automatic payments for recurring bills through Bank of America's online bill pay service. This ensures payments are made on time and you have a clear record.
- Debit Card: Debit card purchases are deducted directly from your checking account, and most transactions post quickly, giving you a more accurate picture of your available balance.
Step 4: Understanding Your Account Specifics
Different Bank of America checking accounts may have slightly different features and associated fees. It's crucial to know the specifics of your account.
- Personal Schedule of Fees: Bank of America provides a "Personal Schedule of Fees" document for each account type. This is your ultimate guide! You can usually find this document by logging into your online banking or by visiting a Bank of America financial center. It outlines all potential fees, including those related to checks, overdrafts, and returned items.
- Account Types: Be aware of accounts like Advantage SafeBalance Banking® which do not allow check writing. Other accounts, like Advantage Plus Banking® or Advantage Relationship Banking®, typically allow check writing privileges.
Step 5: What to Do if You Incur a Fee
Even with the best intentions, sometimes fees happen. Don't panic!
QuickTip: Skim fast, then return for detail.
- Review the Transaction: Immediately review the transaction that led to the fee. Understand what happened.
- Contact Bank of America: If you believe there's been an error, or if this is a rare occurrence and you've otherwise managed your account well, contact Bank of America customer service. Sometimes, especially for first-time overdrafts, they may be willing to waive the fee. Be polite and explain your situation clearly.
- Deposit Funds Immediately: If your account is overdrawn, deposit funds as quickly as possible to bring your balance positive and avoid any further fees or issues.
10 Related FAQ Questions
Here are some common questions related to check writing and Bank of America fees:
How to check my available balance at Bank of America?
You can check your available balance through the Bank of America mobile app, online banking, at an ATM, or by calling customer service.
How to avoid overdraft fees with Bank of America?
Maintain a sufficient available balance, set up overdraft protection, use Bank of America's online and mobile banking alerts, and regularly track your spending.
How to order new checks from Bank of America?
You can order checks through Bank of America's online banking portal, the mobile app, by calling customer service, or by visiting a financial center. Note that Preferred Rewards clients and certain account types may qualify for free or discounted checks.
How to set up overdraft protection at Bank of America?
You can set up overdraft protection by linking your checking account to an eligible Bank of America savings account, another checking account, or a line of credit. This can typically be done through online banking or by contacting customer service.
QuickTip: Slow down when you hit numbers or data.
How to find my Bank of America Personal Schedule of Fees?
You can usually find your Personal Schedule of Fees by logging into your Bank of America online banking account, navigating to your account details, or by searching on the Bank of America website. You can also request a copy at any Bank of America financial center.
How to stop a payment on a check I wrote with Bank of America?
You can request a stop payment on a personal check via Bank of America Online Banking or by calling customer service. You will need to provide the check number, date written, exact amount, and payee. A fee may apply for this service.
How to know if my Bank of America checking account allows check writing?
Most standard Bank of America checking accounts (like Advantage Plus Banking® or Advantage Relationship Banking®) allow check writing. However, the Advantage SafeBalance Banking® account does not permit personal check writing. Refer to your account's specific terms and conditions or the Personal Schedule of Fees.
How to get alerts for my Bank of America account balance?
You can set up custom alerts for your Bank of America account balance through the online banking portal or the mobile app. You can choose to be notified via email or text when your balance falls below a certain amount or when certain transactions occur.
How to understand the difference between Overdraft Item Fee and NSF: Returned Item Fee?
An Overdraft Item Fee is charged when Bank of America pays a transaction that overdraws your account. An NSF: Returned Item Fee is charged when Bank of America declines or returns a transaction (like a check) because you don't have enough funds to cover it.
How to deposit a check into my Bank of America account?
You can deposit checks using the Bank of America mobile app's mobile check deposit feature, at a Bank of America ATM, through direct deposit, or by visiting a Bank of America financial center.
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