Boa account check deposit policy if is a new account

A BoA (Bank of America) account check deposit policy for a new account typically involves the following steps:

  1. Check Deposit Limit: For new accounts, BoA may have a daily check deposit limit, which is usually $5,000 to $10,000. This limit may vary depending on the account type and your relationship with the bank.
  2. Check Deposit Methods: You can deposit checks using various methods, including:
    • Mobile deposit: Use the Bank of America mobile app to deposit checks remotely.
    • Online deposit: Log in to your online banking account and deposit checks online.
    • In-branch deposit: Visit a Bank of America branch and deposit checks in person.
    • Night deposit: Use a night deposit box at a Bank of America branch to deposit checks after hours.
  3. Check Deposit Processing Time: BoA typically processes check deposits on the same business day if deposited before the cut-off time. Cut-off times vary by branch, but generally, checks deposited before 8:00 PM ET are processed the same day.
  4. Check Deposit Hold Policy: BoA may place a hold on check deposits for a certain period, usually 1-5 business days, to ensure the check clears. This hold period may vary depending on the type of check, the check amount, and your account history.
  5. Check Deposit Fees: BoA may charge fees for check deposits, such as:
    • NSF (Non-Sufficient Funds) fees: $35 per item
    • Stop payment fees: $35 per item
    • Returned check fees: $35 per item
  6. Check Deposit Requirements: To deposit a check, you'll need to provide the following:
    • A valid government-issued ID (e.g., driver's license, passport)
    • The check itself, endorsed to Bank of America
    • Your account information (e.g., account number, routing number)
  7. Check Deposit Verification: BoA may verify the check deposit by contacting the issuing bank or the check writer to confirm the check is valid and the funds are available.

Please note that these policies may vary depending on your specific account type, location, and relationship with Bank of America. It's always a good idea to review your account agreement and contact Bank of America directly for specific information on their check deposit policy.