Bank of America review: is it trustworthy?
Learn all about one of the largest banks worldwide. Check out this Bank of America review to determine if one of its financial products fits your profile.
by Aline Augusto
Bank of America review: accounts, cards, loans, investments, and everything you need in one place
This Bank of America review will cover everything you need to know about one of the largest financial institutions in the world, and the second larger bank in the United States.
Also, it is the fifth-largest company in the country and the third in the world.
It offers plenty of products and services, including checking & savings accounts, credit cards, loans, business solutions, investments, and more.
Check out how good is the banking experience with Bank of America.
|Financial products offered||Checking and savings accounts;|
Home and auto loans;
|Fees||It varies according to the product you choose|
|Minimum balance||It varies according to the product you choose|
How is banking with Bank of America?
This bank offers from personal accounts to business solutions. One of the largest financial institutions in the world reflects reliability and security.
Let’s begin with the accounts. First of all, Bank of America features checking accounts divided into three versions.
All of those versions come with a debit card.
Also, the accounts offer a way to waive the monthly fees, which are maintaining a minimum balance, participating in the Preferred Rewards Program, and/or if you are a select student under the age of 24.
The maintenance fees range from $4.95 in the basic account to $12 in the Plus account. In addition, there is the Advantage Relationship Banking account that charges a $25 fee per month.
Both Advantage Plus and Relationship Banking require a minimum $100 deposit, as long as the basic one or Advantage SafeBalance Banking requires only $25 as a minimum.
The Bank of America also offers a savings account with a monthly fee of $8. You need a minimum deposit of $100 to open it, and it features a 0.01% APY that can be increased to up to 0.05% APY if you join the Preferred Rewards program.
Moreover, the monthly fee can be waived if you maintain a minimum daily balance or meet other requirements detailed on the official website.
The bank also features plenty of credit cards to meet all needs and goals. There are cards with no annual fees, lower interest rates, rewards cards, those designed for students, and those designed to help you repair your credit history.
Plus, there are premium credit cards for those who love traveling and shopping.
The loans offered are divided into two segments: home and auto. Both provide you with the possibility of refinancing.
And Bank of America, through Merril, helps you build your investment portfolio with tools and advisors.
Finally, if you have a business, this bank can also help you by offering great solutions designed to give you a hand with your daily operations.
Bank of America experience: accounts, credit cards, and more
Bank of America features a complete package of financial products and services. So, if you are looking for a bank where you can get it all, you have just found one.
Also, as it is one of the largest institutions in the world, this bank provides you with convenience, security, and reliability.
- It is one of the largest banks worldwide, so you will be attended and will access over 4,000 branches and more than 17,000 ATMs;
- It offers the Preferred Rewards program, which allows you to earn more and spend less;
- Also, it doesn’t require high minimum deposits;
- It features a complete package of financial products and services so that you can get it all in one place.
- Unfortunately, there isn’t the option to reimburse or waive the ATM fees;
- There are no options for a high-yield savings account.
Why should I choose Bank of America?
If you want it all in one place, Bank of America is a fantastic bank option for you. Also, as it is one of the largest companies, you know you can rely on it while you can access it from everywhere.
How to start banking with Bank of America?
Now, learn how to start banking with Bank of America and enjoy all its offers.
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