Checking accounts: Wells Fargo Everyday Checking vs. Bank of America Advantage Plus Banking
Quick Verdict
Both Wells Fargo Everyday Checking and Bank of America Advantage Plus Banking are standard checking accounts with similar features. Wells Fargo may be a better choice for those who can't meet the higher minimum balance requirement of Bank of America. Bank of America may be preferable due to its larger ATM network and lower overdraft fees.
- Both Wells Fargo Everyday Checking and Bank of America Advantage Plus Banking accounts offer standard checking features with monthly maintenance fees that can be waived by meeting certain requirements.
- Wells Fargo has a lower minimum opening deposit ($25 vs $100) and a lower minimum balance requirement to waive the monthly fee ($500 vs $1,500).
- Bank of America has a larger ATM network (approximately 15,000 ATMs vs over 10,000 Wells Fargo ATMs) and a lower overdraft fee ($10 vs $35).
- Both banks offer mobile banking features, online bill pay, early direct deposit, and FDIC insurance.
Key features – Side-by-Side
| Attribute | Wells Fargo Everyday Checking | Bank of America Advantage Plus Banking |
|---|---|---|
| Name | Wells Fargo Everyday Checking | Bank of America Advantage Plus Banking |
| Monthly maintenance fee | $10 | $12 |
| Fee waiver requirements | Maintain a $500 minimum daily balance; Receive $500 or more in total qualifying electronic deposits per month; Primary account owner is 17-24 years old; Link a Wells Fargo Campus ATM Card or Campus Debit Card (Note: As of May 1, 2025, new cards cannot be linked); Qualifying monthly non-civilian military direct deposit with the Wells Fargo Worldwide Military Banking program. | Have at least one qualifying direct deposit of $250 or more; Maintain a minimum daily balance of $1,500 or more; Enroll in Bank of America's Preferred Rewards program. |
| Minimum opening deposit | $25 | $100 |
| Overdraft fee | $35 per item (no fee for items $10 or less; no fee if both ending daily balance and available balance are overdrawn by $10 or less; maximum of three overdraft fees per business day) | $10 per item (with a maximum of two fees per day) |
| ATM network size | Over 10,000 Wells Fargo ATMs ($3 fee for cash withdrawals at non-Wells Fargo ATMs in the U.S.; $5 fee for cash withdrawals at non-Wells Fargo ATMs outside the U.S.) | Approximately 15,000 ATMs |
| Mobile banking features | Mobile deposit, Bill Pay, Zelle, Account alerts, Track balances, Debit card on/off switch | Bank of America’s mobile app has a high rating and offers features such as mobile check deposit, Face ID, debit card controls, overdraft controls, and custom alerts. You can also use Zelle to transfer money, pay bills, and transfer funds. |
| Online bill pay availability | Yes | Yes |
| Interest-bearing? | No | No |
| Debit card rewards | No | Not specified as a standard feature |
| Early direct deposit | Yes, with Early Pay Day (not guaranteed and may vary) | Yes. Funds from qualifying direct deposits may be available up to 2 days early. |
| FDIC insurance | Yes, up to $250,000 per depositor, per insured financial institution, for each account ownership category | Yes, up to $250,000 per depositor, per insured bank, per ownership category. |
| Customer service channels | Phone: 1-800-869-3557; Online; In-person (4,227 branches) | Branch, phone, and chat options are available. |
Overall Comparison
Wells Fargo: $10 monthly fee, $25 minimum deposit, 10,000+ ATMs. Bank of America: $12 monthly fee, $100 minimum deposit, 15,000 ATMs.
Pros and Cons
Wells Fargo Everyday Checking
Pros:
- Multiple options to waive the monthly fee
- Highly rated mobile banking app with features like mobile deposit, bill pay, account alerts, and balance tracking
- Early Pay Day feature for direct deposits up to two days early
- 24/7 customer service availability
- Extra Day Grace Period for overdrafts
- Optional Overdraft Protection by linking eligible Wells Fargo accounts
- 24/7 fraud monitoring
- Zero Liability protection for unauthorized card transactions
- Debit card on/off switch via mobile app
- 2-Step Verification
- Biometric sign-on
Cons:
- Monthly maintenance fee if requirements are not met
- Overdraft fees of $35 per item (though some exceptions apply)
- Out-of-network ATM fees
- Fees for certain services like wire transfers
- More fees than many other banks
Bank of America Advantage Plus Banking
Pros:
- Large ATM network
- Mobile banking app with many features
- Online bill pay available
- Early direct deposit
- FDIC insurance
- Multiple customer service channels
- Easy to deposit cash and checks through mobile app or ATMs
- Security features to protect against fraud and unauthorized access
Cons:
- Monthly maintenance fee if requirements are not met
- Overdraft fees
- Not interest-bearing
- Fewer perks compared to online banks
User Experiences and Feedback
Wells Fargo Everyday Checking
What Users Love
- Easy to waive the monthly maintenance fee by meeting one of the multiple criteria.
- Mobile app is user-friendly for everyday tasks like deposits, bill payments, and balance tracking.
- Mobile deposit is available through the Wells Fargo Mobile app.
- Money from check deposits made before 9 pm PT on a business day is generally available the next day.
Common Complaints
- The Wells Fargo Everyday Checking account has more fees than many other banks.
Value Perception
- No value feedback reported.
Bank of America Advantage Plus Banking
What Users Love
- Easy to waive the monthly maintenance fee by meeting one of the requirements
- Mobile app is generally considered decent and offers most of the main features
- Bank of America has a large number of branches, making it generally easy to visit a branch in person
- Mobile check deposit is available through the mobile app
- Cash, direct deposits, and wire transfers are processed on the day they are received
- Check deposits usually clear the next business day if deposited before the cutoff time
- Offers Balance Connect for overdraft protection
- Offers a $0 Liability Guarantee
Common Complaints
- Monthly maintenance fee if requirements are not met
- Overdraft fees can be incurred
- Advantage Plus Banking account is a fairly standard checking account with fewer perks compared to online banks
Value Perception
- Fairly standard checking account
- Offers Balance Connect for overdraft protection
- Offers a $0 Liability Guarantee
User Recommendations
- It is relatively easy to waive the fee by meeting one of the three requirements.
- The mobile app is generally considered decent and offers most of the main features that many bank apps provide.
- Bank of America has a large number of branches across the country, making it generally easy to visit a branch and speak to someone in person.
- The Advantage Plus Banking account is a fairly standard checking account. It offers fewer perks compared to online banks, some of which offer interest-bearing checking accounts and no monthly fees.