at Bank of America,

Member, FDIC

Pros

About 4,300 branches and 16,600 free ATMs.
Monthly fee on basic checking account is easy to avoid.
Strong savings tools and mobile app.

Cons

Up to 0.06% APY on savings account; better rates available elsewhere.
Low rates on certificates of deposit.
$35 overdraft fee can be charged up to four times daily.

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Overall

3.5

Like many national banks, Bank of America offers access to a wide network of free ATMs and branch offices. Well-designed online and mobile banking tools complete the banking experience.

 

But easy access and a solid digital experience come at the price of hefty fees and weak savings rates.

 

Ratings methodology | Updated August 1, 2019

Checking

3.5

Of its three checking account options, Bank of America’s Advantage Plus option is the standard choice to get a full suite of services — including check writing and overdraft programs — with fairly easy ways to avoid the $12 monthly fee. You can receive monthly direct deposits of at least $250 or maintain a minimum daily account balance of at least $1,500, among other options.

 

Bank of America also offers the Advantage SafeBalance account, which can help frequent overdrafters. In lieu of charging overdraft fees, the bank simply declines transactions if the account holder doesn’t have enough funds in checking. But the account comes with downsides, such as the inability to write checks and a $4.95 monthly fee that’s hard to waive for non-students. The only interest-bearing checking, Advantage Relationship Banking, requires at least $10,000 at the bank to avoid a $25 monthly fee. Being enrolled in the Preferred Rewards program also helps you dodge the fee. Interest is minimal.

 

The bank charges all checking customers a $2.50 fee for using non-Bank of America ATMs in the U.S., and a $5 fee when doing so abroad.

Rewards Savings Account
APY
0.03%
Min. balance for APY
$1

at Bank of America,

Member, FDIC

NerdWallet reviews are the result of independent research by our editorial team while accountholder reviews are contributions from independent users not affiliated with NerdWallet. Banks, issuers and credit card companies are not responsible for any content posted on the NerdWallet site, nor do they endorse or guarantee any posted comments or reviews.
Overall
Customer service
Poor
Website / app
Poor
Rates
Poor
Fees
High
Terrible service
One cashier at 9 am. Why. The line out the door and one change was made. At 10 another cashier walked in and it took him 45 min to start With 15 people waiting More left when they saw the line I am closing my account
Overall
Customer service
Poor
Website / app
Poor
Rates
Poor
Fees
High
historically have an account there but looking for way OUT!
Terrible!!! I will not give a singe star if this option was available. This bank will happily take you money and provide no service. My closes branch opens at 9 am during week when I already left for work and closes at 4 pm when I am still working. The only day when I can use it - Saturdays, but now they are closed by 12 pm. Why everyone else working full time but not this bank?
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