Bank of America Advantage SafeBalance Banking
®
and SafeBalance
®
for Family Banking (Family Banking coming to select states in July 2024.)
Clarity Statement® — Overview of key policies and fees
Account information
Opening Deposit
$25 or more
Monthly
Maintenance
Fee
$4.95 each month. You can avoid the Monthly Maintenance Fee when you meet ONE of the following
requirements during each statement cycle:
• Maintain a minimum daily balance of $500 or more in your account, OR
• An account owner, or child on a Family Banking account, is under the age of 25 (fiduciary accounts don't
qualify), OR
• An owner of the account is a member of the Preferred Rewards program. Learn more at
bankofamerica.com/preferred-rewards.
ATM fees
Bank of America ATMs
No ATM fee For deposits, withdrawals, transfers or balance inquiries
Non-Bank of America ATMs
$2.50 In the U.S., plus any fee charged by the ATM's operator
$5.00 Outside the U.S., plus any fee charged by the ATM's operator
Ways to make payments
1
Pay individuals and businesses using:
• Your Debit Card: Make purchases and payments at millions of locations.
• Online and Mobile Bill Pay: Pay your bills through Bank of America's Online Banking or Mobile Banking app.
2
• Online or Mobile Banking transfers: Securely send money to friends, family or coworkers.
3
NOTE: You can't write personal checks on this account. Any check you write will be returned unpaid, even if you have enough
money in your account.
No bank overdraft fees
We don't charge overdraft fees on this account. To help you avoid overdrawing your account, transactions will be
declined and returned unpaid when you don't have enough money in your account.
• If this happens, you won't be charged a bank overdraft fee, but the merchant or third party could charge you a fee. For example, you
may be charged a late fee if the payment isn't received on time.
• An owner can set up email or mobile alerts to notify you when you have a low balance in your account or when items aren't paid. (We
don't charge for this service but your mobile carrier's message and data fees may apply. Delivery of alerts may be affected or
delayed by your mobile carrier’s coverage.)
While this account prevents you from overdrawing in most cases, there may still be times when your account could have
a negative balance, but we won't charge an overdraft fee. This could happen in the following ways:
• When your debit card is authorized for one amount but the final amount is higher (for example, adding a tip at a restaurant or
pumping gas)
• A scheduled bill payment is deducted when you have insufficient funds in your account for the payment
• When you get charged a fee, such as a monthly maintenance fee, and the current balance is less than the fee
When your deposits are available
• Cash, direct deposits and wire transfers: On the day we receive them.
4
• Checks you deposit: Usually the next business day, if deposited before the financial center or ATM cutoff time.
• Mobile Check Deposits: Usually the next business day if deposited by applicable cutoff times. Please refer to Deposit Checks, then
Help in the Mobile Banking app for additional details and terms and conditions.
• If we place a hold on your deposit, we'll let you know the hold reason and when funds will be available for you to use. This is
typically provided at the time of deposit but may also be mailed later. Deposits greater than $5,525 and checks deposited within the
first 30 days of account opening may be held longer.
Information is current as of 05/2024 and is subject to change.
See reverse
Sort_Audit: CC:00-53-5664NSB