Bank of America primarily waives deposit account fees through automatic eligibility rules, such as maintaining minimum balances or receiving qualifying direct deposits, rather than a published process for formal waiver request letters. No official letter template or dedicated request procedure appears in Bank of America policy documents. For one-time courtesy waivers, contact support via phone, app chat, or secure message with your account details and fee information. CFPB guidance flags certain overdraft and bounced-check fees on deposit accounts as potentially illegal but does not create a right to waivers via letters.
U.S. consumers with Bank of America checking or savings accounts should first verify automatic waiver eligibility in their account terms or online banking. If ineligible, a polite support request may yield a discretionary waiver, though outcomes depend on bank policy. This differs from credit card billing disputes.
Bank of America Fee Waiver Policies
Bank of America offers automatic monthly fee waivers for specific deposit accounts based on balances, linked accounts, direct deposits, or enrollment in programs like Preferred Rewards. For the SafeBalance Banking account, the $4.95 monthly fee is waived if the account maintains a minimum daily balance of $500 or more, or if the primary account owner is under 25 years old. This policy took effect in November 2023, per Bank of America announcements.
Other checking and savings accounts waive monthly fees through options like a $1,500 or $500 daily balance, $10,000 combined across accounts, $250 or more in qualifying direct deposits, linked Merrill or Rewards accounts, or Preferred Rewards membership. Overdraft fees fall under separate CFPB guidance, which cautions banks against charging "junk fees" like surprise overdraft charges ($36 average) or fees on bounced check deposits ($10-19), citing potential illegality as in the Regions Bank enforcement action requiring reimbursements since 2018. See CFPB guidance on deposit account fees.
| Account Type | Waiver Conditions (Examples) |
|---|---|
| SafeBalance | $500+ daily balance or owner under 25 |
| Advantage Plus/SafeBalance variants | $1,500 daily balance, $250+ direct deposit, Preferred Rewards |
| Savings/Money Market | $5,000 balance, linked checking, $10,000 combined balances |
These are bank policy conditions, not legal rights.
What Does Not Control Fee Waivers
Deposit account fee waivers follow Bank of America policy and CFPB guidance on potentially illegal practices, not credit card billing dispute rules under Regulation Z (e.g., 60-90 day error resolution deadlines). This excludes merchant refunds, e-commerce chargebacks, or home loan forbearance programs. Business Preferred Rewards benefits, like wire transfer fee credits, do not apply to personal deposit accounts.
No federal law mandates waivers for routine monthly maintenance fees; CFPB actions target specific overdraft practices but provide no letter-based process or guaranteed refunds. State banking rules may add disclosures under Regulation DD but do not override bank waiver policies.
How to Request a Fee Waiver
Check your account agreement or online dashboard first for automatic eligibility. Gather evidence like bank statements showing the fee date, balance history, or direct deposit proofs.
Contact Bank of America at 800-432-1000 (checking/savings support), through the mobile app chat, or secure message in online banking. Provide your account number, fee description (e.g., "March 2026 $4.95 SafeBalance monthly fee"), and reason (e.g., "one-time oversight on balance"). Waivers are discretionary.
For mailed or emailed requests (no official address published for waivers), use this structure:
- Your contact info and account number.
- Fee details (amount, date, type).
- Eligibility evidence or circumstances.
- Polite waiver request.
- Signature.
Escalate suspected illegal fees (e.g., unauthorized overdraft) via CFPB complaint portal. Routine waivers stay within bank channels.
Checklist for Waiver Request:
- [ ] Confirm fee type and automatic waiver rules in account terms.
- [ ] Download statements/screenshots of fee and balances.
- [ ] Note support interaction date/time/reference.
- [ ] Follow up in 3-5 business days if no response.
FAQ
Does Bank of America have an official fee waiver request letter?
No official template or letter process is published; use phone/app for requests.
What fees can I request waived?
Monthly maintenance via policy eligibility; CFPB flags some overdraft fees as potentially illegal, but routine requests are discretionary.
How long to hear back on a waiver request?
Bank policy does not specify; expect 3-5 business days via phone/chat.
When to file a CFPB complaint instead?
For suspected illegal junk fees like surprise overdrafts, not routine monthly fees.
Are waivers automatic or one-time only?
Automatic for ongoing eligibility (e.g., balances); one-time courtesy waivers are case-by-case.
Verify your specific account terms and contact support next.