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.
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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.