With Business Fundamentals you will get:
- One Business Investment Account a basic savings account with limited check writing and no minimum balance requirement
- No monthly fee when you make new purchases of at least $250 each month on your Bank of America business debit or credit card2
- Get a business employee debit card with detailed record keeping and expense tracking to allow your employees to make purchases for you
- Pay no monthly fee for the first two months and $15/month thereafter; or pay no monthly fee when you meet one of the following requirements
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You must first enroll in Online Banking, and set up Transfers and Bill Pay. Wireless carrier fees may apply.
Use a linked Bank of America business debit card or business credit card to make at least $250 in net new purchases each statement/billing cycle. In addition to the primary business debit or credit card, the linked employee cards also count toward the monthly spend threshold. The fee will be refunded for each statement cycle in the following month if the $250 spend threshold has been met. For example, if your qualifying point-of-sale debit card purchase(s) post(s) during your April checking account cycle, your April monthly maintenance fee credit will appear on your May statement. Credit card spend is evaluated at the end of your Business Fundamental account statement cycle, and the assessment of whether you met the spend threshold is based on the immediately preceding completed billing cycle of the credit card account. Since your checking and credit card account cycles may not coincide, it could take up to 65 days between the time qualifying purchases on the credit card are made and the posting of the fee refund. For example, if your credit card account cycles early in the month and your checking account cycles late in the month, qualifying credit card purchases made in early March would be counted towards your end-of-the-month April checking monthly maintenance fee which would then be refunded approximately 5-7 days later on your May checking account statement. Purchases must be made on only one of either the debit or credit card accounts; purchases on any combination of cards cannot be combined to reach the monthly spend threshold. The following transactions do not qualify: a) ATM transactions; b) refunds, returns or other adjustments; c) cash advances or purchases of cash-like items, such as money orders, traveler's cheques, foreign currency, cashier's checks, gaming chips, and other similar instruments and things of value; d) account funding transactions, including transfers to open or fund deposits, escrow or brokerage accounts and purchase of stored value cards.
Eligible business accounts include Business Fundamentals, Business Economy Checking, Business Interest Checking, Business Interest Maximizer™ Savings, Platinum Business Interest Maximizer™ Savings, Business Investment Account Savings, and Business CD accounts.
A64322 | ICIS # 13911 | August 2012