How Do I Open a Trust Account at Bank of America?
Yes. Bank of America opens deposit accounts in the name of a revocable living trust. What Bank of America publishes about opening an account in the name of a revocable living trust, and what the successor trustee brings after a death.
Opening a trust account at Bank of America
Where to open it
Not published by Bank of America
What it costs
- Opening deposit
- $100.00 (Advantage Plus Banking, Advantage Relationship Banking and Advantage Savings)
- Monthly fee
- Varies by account
- Fee waived at
- Varies by account
- Other waivers
- Trust accounts do not get the Advantage Relationship Banking additional-account benefit or the under-25 waiver. A revocable trust under the owner's taxpayer ID counts toward the owner's BofA Rewards tier
- Schedule that applies
- Personal Schedule of Fees (effective August 7, 2026)
| Account | To open | Monthly fee | Waiver or condition |
|---|---|---|---|
| Bank of America Advantage Plus Banking | $100.00 | $12.00 | $1,500 minimum daily balance, or one qualifying direct deposit of $250 or more per statement cycle, or BofA Rewards Preferred Plus, Preferred Honors or Premier tier |
| Bank of America Advantage Relationship Banking | $100.00 | $25.00 | $20,000 minimum daily balance, or BofA Rewards Preferred Plus, Preferred Honors or Premier tier |
| Bank of America Advantage Savings | $100.00 | $8.00 | $500 minimum daily balance, or BofA Rewards Preferred Plus, Preferred Honors or Premier tier; waived for six months from opening on new accounts |
What to know at Bank of America
Merrill investment trust accounts are a separate product, opened with their own CMA Trust Application and Trustee Certification form.
Not in Bank of America's published guidance
- Which documents it asks for
- Whether the account is opened under the grantor's SSN or the trust's EIN
- Whether a certification of trust or the full trust document is needed
- Whether it has its own certification of trust form
- Whether an existing account can be retitled to the trust
- Whether a branch appointment is needed
- Whether every co-trustee must sign or appear
- Whether you must already bank there
- Whether the account comes with online banking, checks, or a debit card
After the grantor dies: the successor trustee at Bank of America
Documents the successor brings
- Death certificate
- Trust agreement (formal trust)
Bank of America's Estate Servicing Operations team takes notice of a death by phone at 888.689.4466, through Online Banking, through the Third-Party Case Manager submission form for non-customers, or in person at a financial center, where an appointment can be scheduled online.
Not in Bank of America's published guidance
- Whether the death certificate must be a certified copy
- Whether the trust needs its own EIN after the death
- Whether the account continues or a new one is opened
- Whether the successor trustee gets online banking
- Whether a branch appointment is needed
General information about each bank's published trust-account requirements, not legal or banking advice. Requirements vary by state and account type. Consult the institution for its current requirements. Data verified Sep 21, 2026
Bank of America's published guidance does not state where a trust account is opened.
Bank of America publishes no document list for trust accounts.
Bank of America does not state which taxpayer number a revocable trust account is opened under.
A trust account is a deposit account titled in the name of a trust rather than a person — for a revocable living trust, typically "[Trustee name], Trustee of the [Trust name]". While the grantor is alive and serving as trustee, the account is the grantor's to use; the trust title is what keeps the funds out of probate and lets the successor trustee take over without a court appointment.
A trust account holds assets that were titled to a trust before death, and the successor trustee takes control of it under the trust document. An estate account is opened after death by the court-appointed executor or administrator, under the estate's own EIN, for assets that were not in a trust and pass through probate. A family with a funded revocable trust may need only the trust account; a family with a will, or no will, opens an estate account.
Sources
Data sourced from Bank of America primary sources (7 pages reviewed). How we research.
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