Open a Bank of America Advantage Savings Account Online (2024)

FAQs

Can you open a Bank of America savings account online? ›

You can apply online for a checking account, savings account, CD or IRA. Simply select an account, enter your personal information, verify your information and choose features & funding options.

Bank of America offers just one interest-bearing savings account: the Bank of America Advantage Savings. This account requires a $100 opening deposit and an $8 monthly maintenance fee, which is easily waivable by maintaining a minimum balance of $500.

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 • Ask us to link your account to your Bank of America Advantage Relationship Banking®, Bank of America Advantage® with Tiered ...

Bank of America's Advantage Savings comes with a $100 minimum opening deposit and a $8 monthly maintenance fee. You can have the maintenance fee waived if you meet one of the following qualifications: Maintain a daily balance of at least $500.

Can I open a bank account without going into the bank? Yes, you can open a bank account online without ever going into a bank branch. With an online bank or account, you mostly manage your money through the bank's website and mobile app, though you can often call customer support for additional help.

Yes, this step is also very easy and saves a lot of time. For opening Savings Account online, all you need is a mobile number for initiating the process. One just needs to submit the application and attach documents online instead of going to the bank yourself.

Bank of America Advantage Plus

The Advantage Plus checking account offered by Bank of America includes more standard features than the SafeBalance banking account. Purchases can be paid by debit card, Zelle, mobile and online banking, or checks.

Deposits in checking accounts, savings accounts, money market savings accounts and Certificates of Deposit (CDs) are insured up to $250,000 per depositor, per insured bank, for each account ownership category under the FDIC's general deposit insurance rules.

Consider the following savings options: Bank of America Advantage Savings. Bank of America Certificate of Deposit (CD) Bank of America Individual Retirement Account (IRA)

How to close a checking/savings account. In person - visit us at a financial center near you. You can make an appointment and schedule a time that's convenient for you. Phone - call us anytime at 800.432.1000 and please have your account number ready.

Which Bank is best for savings? ›

Institutions such as HDFC Bank, ICICI Bank, and State Bank of India (SBI) are known for their attractive interest rates and substantial branch networks. Kotak Mahindra Bank is known for its digital financial services, whereas Axis Bank provides flexible savings alternatives.

While the top high-yield savings accounts offer rates of 4% and higher, the Bank of America Advantage Savings account's standard APY is an abysmal 0.01%. Preferred Rewards members can earn slightly higher APYs, but even the highest rate is roughly one-tenth the national savings account average APY of 0.46%.

Key takeaways. A checking account is for managing your day-to-day finances such as paying bills, making debit card transactions and writing checks. A savings account is for storing funds for emergencies or short-term goals, and the money typically earns a modest amount of interest.

We found that Axos Bank, Discover, PenFed Credit Union, nbkc and EverBank are the best banks with no fees. They all offer some of the top no-fee checking accounts. However, some may carry stop payment, overdraft or wire transfer fees.

Banking just got easier - get started today by opening a savings account online, without coming into an ASB branch.

Online banks are some of the safest places to store your money. In fact, as long as they're FDIC-insured, online banks are just as safe as traditional brick-and-mortar banks. But it's important to follow standard web best practices when banking online.

Pros. You could earn a much higher interest rate compared to traditional savings accounts. Online banks typically have lower minimum deposit requirements to open an account. You're less likely to be charged a monthly fee at an online bank.

It usually takes a matter of minutes to complete and submit an online savings account application. You'll need to register and create a secure login with the bank or website through which you're applying.