How do bank of america overdraft fees work

A NSF: Returned Item Fee is charged when a transaction exceeds your available balance and we decide, at our discretion, to return it unpaid. The cost varies by the size of the box. Schedule an appointment to inquire about safe deposit box availability and pricing at a financial center near you. View FAQs about safe deposit boxes. You can receive pricing information by calling Outside the U. Refer to your Personal Schedule of Fees for additional details. Maintenance fees vary by account.

Explore our checking accounts options and select an account to review the details, including fees. You may avoid the maintenance fees on checking accounts by meeting certain balance or deposit requirements. Refer to the Personal Schedule of Fees for additional details. Combined balances include:. Qualifying direct deposits are deposits of regular monthly income such as your salary, pension, or Social Security benefits that are made by your employer or other payer using the account and routing numbers that you provide to them.

Teller deposits, wire transfers, Online and Mobile Banking transfers, transfers from one account to another, and ATM transfers and deposits are examples of deposits that do not qualify for the monthly maintenance fee waivers. Pricing and fees vary by account. Visit our savings accounts page and select an account to review the details, including pricing. You can also receive pricing information by calling Visit our deposit interest rates page to view current CD rates and annual percentage yields.

A check enclosure fee is charged for returning canceled checks with your monthly statement. Bank of American does refund overdraft fees case by case, so describe your circumstance with honesty and sincerity, and it is highly possible that you may get your money back.

You can change your BoA overdraft settings by scheduling an appointment at a financial center or call Outside the U. Sign in to Online Banking. Online Banking and Mobile Banking also help you avoid overdraft fees. You can always check your balance on the Bank of America mobile app. It also has alerts and notifications that allow you to receive email or texts when there's important activity on your account, such as a low balance. We understand that overdraft fees are annoying, and usually, it takes a much longer time to get that money back.

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The information on this site does not modify any insurance policy terms in any way. An overdraft fee is what a bank charges you any time you withdraw more money from your account than what you have in it. Overdraft fees can be a significant and unnecessary expense, particularly if you have to pay them often. However, there are easy actions you can take to avoid them and ways you can negotiate to get them waived if you are charged. Your account balance will dip below zero and you will have a negative balance representing the amount you now owe to the bank.

Part of that negative balance is the amount of the payment the bank paid on your behalf. Essentially the bank loaned you the money, and it will expect to get the money back.