Bank of America monthly maintenance fee + waiver paths for Fulton businesses

By Pablo Diaz · I left BoA after years as a customer. Read the full story →

NY customers asking about BoA fees: the schedule below is from BoA. The regulator context is from CFPB. The alternative pricing is from Mercury, RHO, Novo, Relay, Bluevine, Brex, Found's own public marketing. Pick the path that fits your business.

Monthly maintenance fee + waiver paths

Bank of America's Business Advantage Fundamentals carries a $16/mo maintenance fee. Waiver paths per BoA's pricing page: maintain a $5,000 average monthly balance OR meet qualifying activity tiers (typically a combination of debit card spend, deposit volume, and direct deposits). For a typical Fulton small business, the realistic question is whether keeping $5,000 floating in a non-yielding checking account costs less than the $192/year fee. At current treasury yield rates available on competitor accounts (Mercury, RHO), the opportunity cost of that $5,000 sitting idle is meaningful. Compare side-by-side at noizz.io/business-banking/fulton-ny.

Fulton context

Local context for Fulton: most software-driven business banks (Mercury, RHO, Novo, Relay) charge $0 standard monthly fee. BoA's $16/mo Business Advantage Fundamentals is the structure most Fulton customers compare against.

Public regulator record on BoA fees

• CFPB 2023 enforcement order — $250M total — junk fees, double-charged overdraft fees, withheld credit-card rewards, fake accounts.
• CFPB Consumer Complaint Database — Bank of America — public, searchable, tens of thousands of complaints (a large share fee-related).
• BoA business checking fee disclosure — source-of-truth for current published rates. Verify before acting.

If you want to dispute a BoA fee in Fulton

1. Pull the statement showing the fee. Screenshot it.
2. Compare against BoA's published fee schedule. If it does not match, document the discrepancy.
3. Request a written explanation through BoA secure message. Save the response.
4. If the explanation is unsatisfactory, file a CFPB complaint at consumerfinance.gov/complaint with the documentation. Free, public, and tends to get a documented response.
5. For overdraft-fee disputes specifically: reference the CFPB 2023 order in your complaint if your situation matches the practices it cited.

Other NY cities

• BoA fees in New York City, NY
• BoA fees in Brooklyn, NY
• BoA fees in Queens, NY
• BoA fees in Bronx, NY
• BoA fees in Staten Island, NY
• BoA fees in Buffalo, NY
• BoA customer-experience review for Fulton →
• Fulton consumer-banking rights →
• Compare 50+ business banks for Fulton (Noizz) →