Tips & Hints
Checking & Savings
About Your Check Card
Don't choose an obvious code for your Personal Identification Number (PIN) and, if possible, don't write it down. Make your PIN something that's hard to guess but easy to remember.
Purchases made with a Bank of America Visa® Check Card where you swipe your card without entering your PIN, select "credit" to complete the transaction, or sign a sales receipt or signature pad for the purchase may not be immediately sent to the bank. Instead, they may take 2 to 3 days to be received, processed by the bank, and posted to your account. In these situations, be aware that the merchant may request an authorization and the bank may immediately reserve or place a hold on the equivalent amount of funds in your account to be sure there are sufficient funds to pay the debit when it's received. Note that merchant authorizations for certain types of purchases, such as dinner at a restaurant or the purchase of gasoline, may be higher or lower than the actual amount of the purchase and the actual amount that will be debited from your account. This occurs because at the time the merchant gets the authorization (for example, when authorizing the purchase of gasoline) the merchant doesn't know the final amount of the purchase.
Purchases made with a Check Card where you enter your PIN will generally post the same or next day to your account.
Balances
To avoid the monthly maintenance fee on an account that has a minimum daily balance requirement, use Online Banking or Mobile Banking to monitor your account activity and balance anywhere, any time, and to transfer funds from another account when your balance might drop below the required minimum daily balance.
To avoid the monthly maintenance fee on an account that has a combined balance requirement, make sure all of your qualifying accounts are properly linked. Contact your local Banking Center or call the number on your account statement if you have questions about your linked accounts.
Deposits & Holds
If you have recurring income like a paycheck, pension payment or Social Security check, arrange to receive it by Direct Deposit. It's a fast, safe and easy way to have funds deposited to your account. Even better, with Direct Deposit you avoid the possibility of having a hold placed on your funds.
Consider using Person-To-Person Transfers through Online Banking when sending money to another Bank of America customer. Person-To-Person transfers are a safe, convenient, and free alternative to writing and sending a check.
Monthly Service Fees
Many Bank of America Accounts allow you to set up automated monthly transfers from other accounts. Consider this strategy to maintain the minimum balance in an account you want to avoid incurring monthly service fees in.
Set up an Alert that notifies you of your available balance. It's one way to help ensure you maintain the minimum your account requires to prevent monthly service fees.
Non - Bank of America ATM Fees
Keep your bank card Personal Identification Number (PIN) secure. Use your body to block the view of those behind you when you enter your PIN at an ATM. You can find other security tips on our main Web site.
Using a Bank of America Visa® Check Card you can reduce or eliminate the need to carry around a checkbook or a lot of cash.
If you don't usually make Check Card transactions outside the U.S., set an Alert to notify you if this kind of transaction occurs: it could be a sign of suspicious activity in your account. Alerts are a free service for Bank of America customers who take advantage of Online Banking.
Overdraft & NSF Fees
Remember that your account balance and the amount of available funds in your account may be two different things. Overdraft fees are incurred when you withdraw amounts larger than your available funds, not necessarily the account balance you see.
NSF - returned item fees are also referred to as "insufficient funds", "non-sufficient funds" or "returned items" fees.
Many customers with joint accounts tell us they occasionally lose track of transactions they've made. Try using transaction alerts to let both partners know if a large transaction has been made. That way you'll be on the same page!
Usually it's not a problem if your deposits are put on hold, but if you accidentally spend those funds thinking they are in your account, you may overdraw your account. Try getting Direct Deposit or set up an automatic transfer through Online Banking. They're usually quicker, and are not subject to a hold.
Auto debits: Many people have their mortgage, gym dues or insurance payment setup to automatically debit from their account on the due date. This can lead to an overdraft if the company continues to debit from your account after you have tried to shut it off. Why not use automatic payments or e-bills through Online Banking? You get the convenience of auto debit, but you can turn them off whenever you like.
Keep track of how many withdrawals you've made during a statement cycle. One easy way to do this is with Online Banking, which lets you review up to 18 months of account balances and posted transactions
Overdraft Transfer Fees
Deposits made by Direct Deposit are usually posted to your account sooner than check deposits made with a teller or at an ATM. If you have recurring income like a paycheck, pension payment or Social Security check, arrange to receive it by Direct Deposit.
Use Alerts to notify you when a check, Check Card or ATM withdrawal for an amount you specify has been made. You can even track a specific check number! This makes it easier to monitor the available funds in your account so you don't overdraw it and incur overdraft transfer fees.
Savings Excess Withdrawal Fees
To keep track of how many withdrawals you've made from your savings account during a statement cycle try using Online Banking. It lets you review up to 18 months of account balances and posted transactions.
Student Banking
Carrying more than one or two Credit Cards can cause confusion and lead to missed payments, and bad credit. Keep it simple - limit the number of cards you carry.
Your Bank of America Visa® Check Card is not a Credit Card - even when you hit the "credit" button on a purchase terminal.
Do not rely on ATM balance figures - the balance you get from them may not be the actual balance in your account. For a more accurate picture of your balance, sign up for Online Banking
Sign up for Credit Protection Plus®, an optional fee-based service that credits your account with benefit amounts equal to your minimum monthly payment in the event of major life events like involuntary unemployment, disability, hospitalization, retirement or even moving. Included with your enrollment are two free annual credit bureau reports and free identity theft recovery assistance.
To help control your Credit Card use, before you start using a Credit Card, decide what it will be used decide in advance what you want to use it for - and don't use it for anything else. If you set your own limits, and restrict what you can spend on, you can avoid spending money you do not have or buy things you cannot afford.
Always, always, always pay your bill on time.
Overdraft Protection
Keep track of how many withdrawals you've made during a statement cycle. One easy way to do this is with Online Banking, which lets you review up to 18 months of account balances and posted transactions.
Credit Card
Interest Rates
Avoid automatic default rate increases by always paying at least the minimum monthly payment by your payment due date and never allowing your balance to exceed your credit limit.
If your Credit Card offers a grace period on retail purchases, take advantage of this benefit and avoid finance charges altogether by using your account only for these kinds of transactions and paying the balance in full each month by your payment due date.
When taking advantage of a promotional offer, make sure you keep track of when the offer expires so you'll know when your APR increases to the non-promotional rate.
Remember, you can pay more than the minimum amount due at any time. Paying your balance in full or making larger payments when possible can significantly reduce your cost of credit.
Budget Planning
Financial planning is all about knowing your means, and living within them. Start planning for the future now.
A Credit Card is not an effective method of making up deficits in your finances. Be sure to understand all the costs involved in making Credit Card transactions.
Create a comprehensive financial picture for easy tracking of all your financial accounts with My Portfolio™
Alerts
With Alerts, you get Credit Card, Checking and Savings Account information sent right to your email or via text message to your cell phone.
Alerts come via text message or email - so if you have to turn off your phone during the workday, you can stay in touch with your finances via email.
Disputing a Charge
See the back of your statement for additional information on disputing transactions
Exceeding Your Limit
In addition to your monthly billing statement, you can find out how close your Credit Card balance is to its limit by viewing your account online or through our automated phone system by calling the toll-free number on the back of your card. You also have the option of speaking to a Bank of America Associate at anytime, 365 days a year.
Use our Online Banking feature to schedule an Alert to automatically notify you when your balance is within an amount you specify within your credit limit.
Find out about how to set your own pre-set spending limit when shopping online with our ShopSafe® feature.
Foreign Transaction Fees
Online Banking Alerts can help you monitor several types of activities that may indicate security breaches on your credit card account. For example, you can set up Alerts that notify you when a credit card charge is made online, by phone or by mail. If you don't typically use one or more of these methods to make credit card purchases, it could mean that someone is using your account fraudulently.
Fraud Security
When expecting a new or replacement card, look for it in the mail daily until it arrives. Contact us immediately if it does not arrive within the expected timeframes.
Review your accounts regularly to detect any possible fraudulent transactions.
Match your Credit Card receipts against monthly bills to make sure there are no unauthorized charges.
Add an extra layer of protection when you shop online. Use ShopSafe® to generate a temporary account number, and complete your online purchase with confidence.
Maintaining Good Credit
Understand and abide by the Terms and Conditions of all your credit card and loan agreements.
Take advantage of Bank of America's Online Banking services to schedule payments and electronic alerts to help avoid late payment and overlimit fees.
Protect your rating with Credit Protection Plus.
Mobile Banking
Sometimes, even having the Bank of America in your pocket isn't enough. When you sign up for Mobile Banking, be sure to sign up for our handy Alerts service as well — and have your finances come to you via text message.
In most states, Online Banking also lets you order checks and stop payment on checks right from your computer.
Online Banking
When you use Online Banking, the balances presented are as up-to-date as possible. Remember, some of those transactions you made recently might not have posted when you go online to check your balance.
On-Time Payments
The payment due date on your Credit Card bill can change from month to month, depending on holidays and other factors. If you are unable to pay the bill when you first receive it, write down your payment due date or set an Alert to remind you so you can avoid late fees by paying at least your minimum payment before that date.
You can change your due date to a different time of the month if that better suits your cash flow. To find out how, call the toll-free number on the back of your card.
Online Banking lets you set up a variety of Alerts that can help you manage your credit card account more effectively, including an Alert that reminds you of your payment due date.
Set up a recurring monthly payment to post to your Credit Card Account using Bank of America's free Bill Pay service that's available with Online Banking.
If you are paying by mail and want to ensure the fastest possible processing, include only one payment and remittance slip per envelope. Don't include anything else like staples, paper clips, tape or correspondence in the envelope. Make sure that our remittance address faces out through the envelope's window, and write your Credit Card Account number on the memo line of your enclosed check or money order.
Ensuring you pay your bills on-time is easier when paying one bill covers them all. Use your Credit Card to pay recurring bills like Internet, cable TV, telephone and utilities. Contact your service providers for details.
Transaction Types
Enroll in Online Banking for early awareness of opportunities that may become available for you to take advantage of lower rate promotional offers.
Avoid early termination of promotional rates by scheduling Alerts to remind you when your payment is due or when your balance is within an amount you determine within your credit limit.
Link your Credit Card Account to a Bank of America Checking or Savings Account to provide Overdraft Protection and help prevent overdrafts and related fees on those accounts.
