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Bank of America

Bank of America Logo

6.5

Overall Score

91 User Reviews

15 days ago

Bank of America

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Based in North Carolina, Bank of America offers financial solutions for customers who are looking to manage their money. Bank of America offers services and products whether they’re for personal needs, small businesses, wealth management or businesses and institutions. Bank of America seeks to give back to the community through its partnership with Habitat for Humanity. It also offers retirement planning services.  

The Good

  • Great services
  • Habitat for humanity partnership
  • Online and mobile banking

Great Services

Have been in business for over 200 years with $2 billion in total assets. They offer services to personal, small businesses, wealth management, as well as business and institutions. They are a developed bank that provide many services for customer needs:

  • banking for checking, saving, and CD accounts
  • Loans for mortgage, refinance, home equity, and automobiles
  • investments with retirement, IRA and 401k, 529 and college savings, and other investment products
  • consumer and commercial finance services
  • learning with budgeting and saving, managing credit, home buying, and retirement planning

They are a global bank with more than 5,000 retail banking offices in the U.S. alone. Only bank where they provide a "Learning" tab for customers to learn more about finances.

Habitat for Humanity

As part of its goal to give back to the community, Bank of America has a partnership with Habitat for Humanity. Bank of America launched a first-ever global multi-city build in 41 communities. This effort was made possible by a $6 million investment from the Bank of America Charitable Foundation.

Online and Mobile Banking

For the on the go customer, Bank of America also provides online banking and mobile banking. Its mobile is available for Apple and Android users. Customers who use mobile banking can take advantage of different factors including:

  • Mobile check deposits
  • Money transfers
  • Manage accounts

Bank of America's mobile app has been recognized as having the Best Overall Identity Safety in Banking by Javelin Strategy and Research.

The Bad

  • No student loans
  • Banking fees
  • Opening fee

No Student Loans

College students who need help with funding will not find student loans available at Bank of America. They will have to choose another bank to receive a loan that will help them achieve a higher education.

Banking Fees

There are banking fee's for their two checking accounts. Some examples are:

  • Opening fee, depending on the type of account there is a minimum opening fee of $25 or $100
  • Maintenance fee of either $12, $14, or $25 which can be avoided by meeting banks criteria
  • Overdraft and returned items fee $35
  • Overdrafts Extended Overdrawn balance $35
  • Overdraft protection service each transfer $10
  • Other common fees are check and deposit ticket orders, consulate letter fee, returned item chargeback fee, legal process fee, stop payment fee ($30), and wire transfers

Opening Fee

For the 3 saving account there is an opening fee of $25 and 2 of the 3 have a .01% Annual Percentage Yield (APY). If requirements are not met there will be a $5 or $12 monthly maintenance fee.

The Bottom Line

Bank of America has proved themselves to be a secure bank to open an account for personal, small business, wealth management,  or business and institutions.  Their many services provide an excellent source for financial needs as well as the opportunity to learn more for yourself. This is the only company where they provide an option where you can learn about finances. Consumers can reach their customer service line during business hours or get automated support 24/7.

Our recommendation: If you're a student and in need of a loan, it may be best to look elsewhere. For everyone else, consider Bank of America for your banking needs.

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User Reviews

3.8

91 Reviews

Your trust is our top priority, so we check all reviews for accuracy and relevance. Additionally, we do not allow companies to alter or remove reviews. Learn more

Sort by:
Denise
November 2nd, 2018 DETAILS
Value for your money
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Charged me an account transfer fee. I needed the service during the hurricane. Gee thanks Bank of America.

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Thomas Hullinger
August 27th, 2018 Pleasant Grove, UT DETAILS
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I have used Bank of America in the past and they were easy to work with. Provided the checking and savings accounts that I needed and the services that go with them were great. They also are very modern and I like their internet capabilities.

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Alicia Holman
June 22nd, 2018 Gilbert, AZ DETAILS
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Their customer service isn't up to speed. They seem to be too big to care about the smaller accounts, so if there are any issues, they don't really take the time to try to rectify the problem. Their managers don't seem to have enough power to be able to make changes for people when needed.

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Tysen Rohner
June 20th, 2018 Gilbert, AZ

The bank tellers provide good service. ATM's are quick and easy to use.

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Karen
June 13th, 2018 Miami, FL DETAILS
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Great consumer service. The telephone automated system is very useful. I really like the confirmation emails

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NYLE LAGRANGE
June 13th, 2018 North Branch, MN DETAILS
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Long term credit relationship and top customer service.

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Robert McDonald
June 13th, 2018 Harker Heights, TX DETAILS
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Card was cancel after I built up substance point. I receive a new card from BoA but not the same type of point advantage. Plus it was like starting over again

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Jones HousePublishing
June 13th, 2018 Houston, TX DETAILS
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Watch your account yourself, don't rely on them. And they act like it's their money when you want to take some out.

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Sam Jankovich
June 13th, 2018 Tuolumne, CA DETAILS
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Horrible evperoence with on line service very undeniable service and professional service

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Sandra lowe
June 13th, 2018 Los Angeles, CA DETAILS
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the Service is average and the bank is average, some policies are poor, as they relate to the costumer

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Sunil D
June 13th, 2018 Chandler, AZ DETAILS
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Poor Fixed Income investment (aka CD) rates

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Kenneth Garwood
June 13th, 2018 Phoenix, AZ DETAILS
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They are super responsive to problems and their card credit rates are very good

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Carolyn Albury
June 13th, 2018 Davenport, FL DETAILS
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Good service, friendly, take good care of my money!

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Otmara Zuloaga
June 13th, 2018 Miami, FL DETAILS
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Good service, good communication and information

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Nana Asiata
June 11th, 2018 Herriman, UT

Bank of America is a great bank to bank with. Bank of America is welling to help their customers out with stolen card and unknown transactions. The process only one or two day long to get your money back.

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Anonymous
June 8th, 2018 Pleasant Grove, UT

I have used Bank of America for a deposit account, and also credit cards. They are easy to work with, have great customer service and are very convenient. I like that they have a national presence and use their ATM's. Good on low fees.

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Kip Fowler
June 8th, 2018 Pleasant Grove, UT

My experience with Bank of America has been primarily with investment property mortgages. I have been pleased with the service we have received

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Sheila Degus
May 17th, 2018 DETAILS
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Service quality of website convenience ................

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Jason
May 17th, 2018 DETAILS
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Amazing applications, Saturday Banking, Seamless connection to Merrill Lynch accounts. However, transfer fees are high; additional fees are too high. Poor in-bank customer service.

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Lillian Burgin
May 17th, 2018 DETAILS
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There is never a time when I've had a problem that it is not taken care of.

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Joe Rasper
May 17th, 2018 DETAILS
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The website is great for transferring money, checking balances and using bill pay. In addition, the customer support is very accessible and does a great job answering all your questions.

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Ms. K. May
May 17th, 2018 DETAILS
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They nickel and dime you for every little thing.

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Robert Kelley
May 17th, 2018 DETAILS
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Customer service. I am always treated with respect and they really care about my money.

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Adam B
May 17th, 2018 DETAILS
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slow, unresponsive, changing to the wrong direction

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Marv1959
May 17th, 2018 DETAILS
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Big and impersonal. Large footprint. Many locations

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charles wilson
May 17th, 2018 DETAILS
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Not a local bank near my area i have to drive 24 miles one way to bank

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Craig
May 17th, 2018 DETAILS
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Not user friendly when it comes to customer service

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Dorothy Axtell
May 17th, 2018 DETAILS
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Long wait times in line and few tellers.

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Sylvia Horner
May 17th, 2018 DETAILS
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If you don't have much money in the bank they want to penalize you by making you pay fees. The more money you have the less penalties you pay.

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John
May 17th, 2018 DETAILS
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I leave my review for Bank of America because after being with them for 20 years and owning two separate businesses they still do not help me when I need money. They are lending practices are to stringent and the policies that they follow do not help a hard-working small businessman in the beginning of starting his business. I no longer need alone , But I still remember when I did need a credit line Bank of America turned me down. I do all my business through Bank of America and for being his customer as long as I have someone upstairs just doesn't get it.

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Linda finley
May 17th, 2018 DETAILS
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they always have your back,amd if you need help they will alawys help you out and fix the problem,

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Sofia Tabak
May 17th, 2018 DETAILS
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They are doing everything to please the costumer; they are professional, courteous, knowledgeable.

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Edith Jonas
May 17th, 2018 DETAILS
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Everything goes pretty well. I like getting a card copy of my statements.

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Eugenia Lee
May 17th, 2018 DETAILS
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Never have had a problem with them. They even reversed some fees when I was charged for something I didn't order. Friendly customer service reps also. Always ready to help!!

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Rosemary Segelhorst
May 17th, 2018 DETAILS
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No Drive up Window have to go inside to conduct transactions that can't be completed at ATM. Long lines inside and not very friendly staff.

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Nedda Brazwell
May 17th, 2018 DETAILS
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THeir employees are helpful and friendly

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R. Wagner Wagner
May 17th, 2018 DETAILS
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With the exception of their mortgage division, their general banking features and services are excellent.

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Joel Blackwell
May 17th, 2018 DETAILS
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Overall good service, but they need to stay out of politics. It makes me want to change banks due to that.

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Hector H
May 17th, 2018 DETAILS
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Because they have great software and customer service

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Martin Doherty
May 17th, 2018 DETAILS
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The employees at the York Branch and the service they provide

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