Why You're Seeing "BANK OF AMERICA*" on Your Bank Statement
What Is "BANK OF AMERICA*" on My Bank Statement?
A charge showing BANK OF AMERICA* on your statement is a fee or transaction originating directly from Bank of America, one of the largest financial institutions in the United States. This descriptor typically appears when Bank of America processes a fee, service charge, or internal transaction against your account. Common reasons include monthly maintenance fees, overdraft charges, wire transfer fees, or other account-related costs. If you see this on a statement from a different bank, it may indicate a cross-bank transaction or a charge from a Bank of America product you hold.
The BANK OF AMERICA* descriptor appears on bank statements because it is the standardized merchant or originator identifier that Bank of America uses when submitting charges through payment processing networks. The asterisk following the name is commonly used by financial institutions to denote a direct fee or service charge rather than a retail purchase. This format helps payment processors and banks categorize and route the transaction correctly while keeping the source clearly identifiable on your statement.
âšī¸ Note
In most cases, seeing "BANK OF AMERICA*" on your statement is completely normal. Before assuming fraud, check your recent purchases â most mystery charges have a simple explanation.
Is BANK OF AMERICA* Legitimate or Fraud?
Seeing BANK OF AMERICA* on your bank or credit card statement is typically a legitimate charge originating directly from Bank of America, one of the largest financial institutions in the United States. This descriptor commonly appears when Bank of America processes fees, service charges, or transactions linked to your accounts, credit cards, or financial products.
Common legitimate reasons you may see BANK OF AMERICA* on your statement include:
- Monthly maintenance fees on a Bank of America checking or savings account
- Annual or monthly fees associated with a Bank of America credit card
- Overdraft or insufficient funds fees charged to your account
- Wire transfer fees or other miscellaneous banking service charges
However, if you do not have any active accounts or products with Bank of America, a charge labeled BANK OF AMERICA* could indicate unauthorized use of your payment information and should be investigated immediately.
How to Verify the BANK OF AMERICA* Charge
- 1
Log into your Bank of America account
Visit bankofamerica.com or open the Bank of America mobile app and review your recent transaction history to match the BANK OF AMERICA* charge to a specific fee or service.
- 2
Search your email for Bank of America notices
Look for emails from Bank of America that reference account fees, billing statements, or service charge notifications that correspond to the date of the BANK OF AMERICA* charge.
- 3
Check if household members have Bank of America accounts
A spouse, partner, or family member may have a joint or linked Bank of America account that generated the BANK OF AMERICA* charge on a shared card or account.
- 4
Review your Bank of America product agreements
Cross-reference the charge amount against the fee schedule in your Bank of America account agreement, credit card terms, or any promotional offers you signed up for.
- 5
Call Bank of America directly
Contact Bank of America customer service at 1-800-432-1000 and provide the transaction date and amount of the BANK OF AMERICA* charge for clarification.
How to Dispute a BANK OF AMERICA* Charge
- 1
Act within 60 days of the charge
Federal regulations under the Fair Credit Billing Act give you 60 days from the statement date to formally dispute a BANK OF AMERICA* charge you believe is unauthorized or incorrect.
- 2
Contact Bank of America first
Call Bank of America at 1-800-432-1000 or use the dispute option within your online account portal to report the BANK OF AMERICA* charge and request a review or reversal.
- 3
File a chargeback with your card issuer
If the BANK OF AMERICA* charge appeared on a third-party credit or debit card, contact that card's issuing bank to initiate a chargeback citing unauthorized or erroneous billing.
- 4
Request a new card or account number
If you suspect fraud linked to the BANK OF AMERICA* charge, ask Bank of America to issue a replacement card or update your account credentials to prevent further unauthorized transactions.
Tips for Managing BANK OF AMERICA* Charges
Enable Bank of America account alerts to get notified instantly when a BANK OF AMERICA* charge posts.
Review your Bank of America monthly statements carefully to catch unexpected BANK OF AMERICA* fees early.
Keep your Bank of America online account login secure with a strong, unique password and two-factor authentication.
Note your Bank of America billing cycle dates so you can anticipate when recurring BANK OF AMERICA* fees will appear.
Enroll in Bank of America's Preferred Rewards program to potentially waive certain fees that show as BANK OF AMERICA* charges.
Use WhatIsThisCharge.net to identify related charges that appear alongside BANK OF AMERICA* on your statement.
Frequently Asked Questions About BANK OF AMERICA*
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