Bank of America checking accounts offer you the ability to deposit and withdraw funds securely via a federally protected mechanism. BoA offers a number of different types of checking account targeted towards the different needs of its customers.
Presently, BoA checking accounts come in the following styles:
- MyAccess® Checking
- CampusEdge® Checking
- Tiered Interest Checking
- Small Business Checking Bundle
MyAccess® Checking Accounts
BoA’s MyAccess® Checking is an account designed to appeal to the everyman in as much as it has a broad range of features that should appeal to the majority of people. Consequently, it is Bank of America’s most popular type of checking account. Once your application for a MyAccess® Checking account has been approved, you need only make an initial deposit of $25 to activate it but there is no subsequent minimum balance required to keep the account open.
The MyAccess® Checking account also gives customers the an online banking facility in addition to the provision to manage their money via phone or ATM. Incidentally at the time of writing this article, Bank of America offers a $0 monthly maintenance fee for any MyAccess® Checking account opened online.
MyAccess® Checking comes with an unlimited check writing facility, no fee online banking service and a free Bank of America VISA® Check Card.
CampusEdge® Checking is an account designed to meet the needs of students. As a result, the principle features of the CampusEdge® Checking account are an unlimited check writing capacity and a free-of-charge deposit function to enable parents to move funds into their children’s accounts without cost.
Available to students of 18 years and above, the CampusEdge® also offers some of the same features as MyAccess® Checking, namely no fee online banking and a free Bank of America VISA® Check Card.
Tiered Interest Checking
Tiered Interest Checking accounts will appeal to people looking to earn interest on their checking account balance. This type of account also gives almost all the banking services available at either discounted rates or free of charge. Tiered Interest checking accounts also give account holders more favorable rates on loans and lines of credit.
Small Business Checking Bundle
Bank of America’s Small Business Checking Bundle actually comprises two accounts: one for business and a MyAccess® personal checking account. The Small Business Bundle is aimed towards small business owners to entice them with the myriad cash advantages associated with keeping a business checking account with the same bank as a personal checking account.
The primary features of the Small Business Checking Bundle are: no maintenance fees for the business account during the first year; no fee on-line banking; no charges levied on the business account for the first 100 checks and deposits made per calendar month; a free Bank of America Visa® Check Card; and a check safekeeping service.
How to Open a Bank of America Checking Account
In order to open Bank of America checking accounts you will need to provide the following information to the bank:
- Evidence of your home address
- Social security numbers
- Contact details (telephone, cellphone, email etc.)
- A means to fund the required $25 to open the account.