Bank of America eBanking Account
I previously wrote about the steps I took when I opened a general checking account with Bank of America. As with most bank accounts, you are also able to use Bank of America’s online banking to do online transactions. So this article is not about Bank of America and its online banking facilities , but rather about the new type of checking account/service they started end of year 2010. Well ,the eBanking account from Bank of America is a definite way to save on monthly banking costs and that’s exactly why I’m writing about it.
With the normal checking account from Bank of America , as with many other American banks ,you have to pay monthly maintenance fees in order for you to have your account open and to be able to do your normal transactions throughout the month. The new eBanking checking account from Bank of America enables you to save on banking fees and in fact pay Zero bank fees! I think that most of us would agree that having to pay banking fees for normal day-to-day transactions does not make too much sense anyways , especially if you look at the fact that the banks are making money on your money anyways….. So a way to save on banking fees should come in handy.
Well there are certain “conditions” you need to adhere to in order to not pay any banking costs though.I think that adhering to these are pretty easy though , especially if you mostly use your checking account for normal day-to-day transactions. The terms and conditions are:
- Choose Paperless statements – Anything in favor of going green is good and getting statements via email are way easier to keep track of.
- Make Deposits and Withdrawals online or via an ATM – thus transacting without the use of teller services within the bank. I usually swipe my card for most things and my salary is paid straight into my bank account anyways
- You can still make use of teller services inside the bank as always - you’ll be charged $8.95 per transaction though.
- You receive all other services - exactly the same as with other checking accounts.
Seeing that we are living in an electronic age , I do most of my banking online anyways and prefer receiving my bank statements via email. I also prefer swiping my card for most day-to-day transactions , as it makes it easier to keep track of expenses incurred. Most Bank of America ATM’s have facilities where you can deposit cash at the ATM’s , so in case you need to deposit cash , you can deposit it outside the bank at the ATM. So when I look at my monthly use of banking services , the eBanking account seems to fit my lifestyle perfectly.
As I mentioned earlier , I already had a Bank of America checking account when the eBanking account was introduced ,so I looked at my banking profile and decided to change from the regular checking account to an eBanking account. I thought that I needed to physically go into a Bank of America branch and do these changes manually , but quite fittingly I was able to change to an eBanking account online , without the need of having to go into a bank….. I was able to switch from a regular checking account to an eBanking account in what was probably less than 5 minutes.
The Steps to change to an eBanking Account:
- Log into the “Online Banking” section of your Bank of America Account.
- Click on the “Customer Service” tab of your online banking page.
- Select the “Contact Us” link on the right-hand side of the page.
- On the top , left-hand side of the “Contact Us” page you’ll see a link to : ” Chat now with an Online Banking Professional” – select that.
- From there you’ll be able to tell the Bank of America representative that you need to change your checking account to an eBanking Account. As easy as that!
As illustrated above , opening an eBanking account is really easy and I think that a lot of people are able to actually conduct the majority of their normal banking transactions without having to physically go into a bank’s branch. I do thus think that the Bank of America’s eBanking account has come at an ideal time and is a great way to save on banking costs. I have been using the eBanking account since inception and so far so good….