The new eBanking account is set to charge a monthly fee of USD 8.95 for account holders wishing to obtain paper statements or else opt for access to tellers for other routine bank statements. For users who chose to access the account via Bank of America’s ATM network, online banking platform or mobile banking service, the USD 8.95 charge does not apply.
Consumers can open the new Bank of America online-only cheque accounts directly online, as well as by visiting a bank branch or over the phone. According to the same source, starting fall 2010, the new type of account is set to replace the bank's CollegeEdge cheque offering.