An overdraft happens when you don’t have enough money available to cover a purchase or a payment. In other words, an overdraft happens when a transaction exceeds your available balance. When this happens, the transaction can either be paid for you, by overdrawing your account, or it will be declined and returned unpaid.
Balance Connect® allows you to link other eligible Bank of America® bank accounts to help cover transactions and help avoid overdrafts and Overdraft Item Fees2 using your own available funds. Go online or use the Mobile Banking app3 to choose the order of the accounts we use to cover your transactions, for more control all in one place.
Help protect your business from Overdraft Item Fees by linking eligible Bank of America accounts, such as another eligible checking or savings account.
Cover your payments and purchases by automatically transferring money from your linked backup account(s) when needed.
There are no transfer fees, but linked credit accounts are subject to interest charges.4 This optional service can help you cover your payments and purchases, and help avoid overdrafts and overdraft item fees by automatically transferring available funds from your linked back-up account(s) when needed.
Here’s an example of the potential overdraft item fees you could incur if two payments post to your account on the same day and each overdraws the account:
An overdraft protection transfer is made with no transfer fee.4
Cost: $0
Overdraft Item Fees2 are charged for each of the two payments.
Cost: $20
Effective February 19, 2027, the Overdraft Item Fee amount will be $15 for each item.
