Bank of America Advantage SafeBalance Banking is a type of checking account offered by Bank of America. The SafeBalance account is designed for customers who want a simple and low-cost account that offers the basic features of a checking account without any monthly maintenance fees.
The Advantage SafeBalance Banking account has a low minimum opening deposit requirement and offers several features, including:
Features of Bank of America Advantage SafeBalance Banking
- No monthly maintenance fees: There are no monthly maintenance fees associated with the Bank of America Advantage SafeBalance Banking account.
- No overdraft fees: The Bank of America Advantage SafeBalance Banking account does not allow overdrafts, so there are no overdraft fees charged.
- Debit card: The account comes with a debit card that can be used to withdraw cash and make purchases.
- Online and mobile banking: Customers can access their accounts online and through Bank of America’s mobile app.
- Bill pay: Customers can use the account to pay bills online using Internet banking or the mobile app.
- Check writing: Customers can write checks from the account, although there may be a fee for this service.
The Advantage SafeBalance Banking account is a good option for customers who want a simple, low-cost checking account with basic features. However, it may not be the best choice for customers who need more advanced features, such as overdraft protection or unlimited check writing.
How to Open Bank of America Advantage SafeBalance Banking
You can open a Bank of America Advantage SafeBalance Banking account online or in person at a Bank of America branch. Here are the steps to open the account:
- Gather your personal information: You will need to provide your name, address, date of birth, Social Security number, and employment information.
- Choose how to apply: You can apply for the account online through Bank of America’s website or by visiting a Bank of America branch in person.
- Fill out the application: If you apply online, you will need to provide your personal information and agree to the terms and conditions. If you apply in person, a Bank of America representative will assist you with the application.
- Fund your account: You will need to make a minimum opening deposit to fund your account. This can be done by transferring funds from an existing account or depositing cash or a check at a Bank of America branch.
- Verify your identity: To complete the account opening process, you will need to verify your identity. This can be done online by answering security questions or in person at a Bank of America branch by presenting a valid government-issued ID.
Once your account is open, you will receive a debit card and can begin using the account to manage your finances.