How Much Bank of America Overdraft Fees Cost. No matter which type of Bank of America checking account you have, you'll be subject to one of. An overdraft item fee is charged when you write a check or make a withdrawal for an amount that exceeds the balance in your eligible checking or savings. Lawmakers put banks on notice: Stop charging overdraft fees during the With roughly 22 million Americans now out of work due to the Banks typically charge overdraft fees when you overdraw your checking account.