I'm trying to waive the $12 monthly maintenance fee on my Bofa Advantage plus checking account.
The Rules to waive the fee are:
- Have at least one qualifying direct deposit of $250+ or
- Maintain a $1,500 minimum daily balance or
- Are enrolled in Preferred Rewards
Could i just do a Standard Money Transfer of $250 from my Chase Total or Cap1 360 Checking to my Bofa Checking account? and Would a Standard Money Transfer "Count" or "Qualify as a Direct Deposit" to waive the $12 monthly fee?
Any tips are highly appreciated!
Thank you for all the support 
Probably not since it's not being directly deposited from your paycheck.
@Remedios wrote:Dont know about BofA, but with Chase and US Bank it would not work.
My Chase Checking monthly fee is waived with a ACH of $500.
But to be fair, its not a Chase Total Checking (or whatever they offer today). It's called simply Chase Checking from 2010 that they do not offer anymore. I just assumed an ACH transfer worked for all of Chase's accounts.
OP, try it with BofA for a month and see if it works.
@Remedios wrote:I have an old, grandfathered account with Chase from WaMu days for which it works.
It does not work for newer one, unless something changed in the last year or two.
I think the list went something like payroll, government benefits, retirement etc
Thanks for the lesson!
I was going close my account with them (Chase is not my main bank) so I could churn them in 90-180 days or so. I guess I will not be doing that now.
@OmarR wrote:My Chase Checking monthly fee is waived with a ACH of $500.
But to be fair, its not a Chase Total Checking (or whatever they offer today). It's called simply Chase Checking from 2010 that they do not offer anymore. I just assumed an ACH transfer worked for all of Chase's accounts.
OP, try it with BofA for a month and see if it works.
How would i setup a ACH transfer from chase to bofa? is a standard money transfer different from a ACH transfer?
@FinStar wrote:
@TyRacing wrote:
@OmarR wrote:My Chase Checking monthly fee is waived with a ACH of $500.
But to be fair, its not a Chase Total Checking (or whatever they offer today). It's called simply Chase Checking from 2010 that they do not offer anymore. I just assumed an ACH transfer worked for all of Chase's accounts.
OP, try it with BofA for a month and see if it works.
How would i setup a ACH transfer from chase to bofa? is a standard money transfer different from a ACH transfer?
You can set up BoA as an external account through your Chase online profile: Pay & transfer > Transfer Money > External Accounts > Add external account. You would then need to confirm some small deposits on the BoA side within 3-5 business days so the external account can be verified.
thanks but Would that setup be for a ACH transfer?