For those who have been asking what the Bank of America Savings account requirements are, here is a guide to respond to your question.
A savings account has become notable for a reason you and I know, its interest rate. Well, that makes it cool having one since almost all of our daily activities are somehow pivoted around money.
At Bank of America, there are various savings accounts that accommodate everyone’s needs financially, and this implies that whether you are a salary or non-salary worker, there is an account to help you save something for your needs tomorrow.
However, before you can proceed and apply for any of these accounts, it is essential to find out if you meet the requirements.
The Bank of America account requirements will help you choose the account type that suits you.
Bank Of America Savings Account Requirements
The requirements for the Bank of America savings account are:
- Your full name
- Date of Birth
- Social Security number
- A registered phone number
- An active email address
- Physical U.S. address (no PO boxes)
- Applicants who are less than 16 years should come with a co-applicant who is at least 18 years.
- Your driver’s license may be needed when other factors are considered.
- A minimum initial deposit of $100
Perhaps, if you don’t meet the requirements listed above, there is a chance for you to schedule an appointment with a local baking center near your location only if you have a physical U.S. address and two government-issued documents to confirm your identity.
Minimum Initial Deposit Requirements For Bank Of America Savings Account
The minimum initial deposit requirements for the Bank of America savings account currently stand at $100.00.
This means that for you to register a savings account with them, you will need to finalize the process by making an initial deposit of at least $100.00.
Without this amount, the account can’t be activated, and that implies you do not stand to share in the benefits it comes with.
What Are The Charges For Opening Savings Account
Opening a savings account with Bank of America comes with no fee.
This only applies to the registration process.
However, there is an initial deposit that you will require to make and other charges that come with operating the savings account once it has been successfully opened.
The charges for the Bank of America savings account include;
A monthly maintenance fee of $8 per statement cycle
A few of $2.5 whenever you use an ATM that is not for Bank of America within the U.S.
Using ATMs outside the U.S comes with a fee of $5 plus any other charge by ATM operators.
Overdraft protection fee of $12 per transfer
You can contact Bank Of America for more inquiries on 8004321000, 1-315-724-4022 (international)
This is all that we have for you now on “Bank of America savings account requirements.”
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