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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.

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by Aline Augusto

Published on 05/08/2022

Bank of America review: accounts, cards, loans, investments, and everything you need in one place

Check out how good is the experience of banking with Bank of America! Source: BMO.
Check out how good is the experience of banking with Bank of America! Source: BMO.

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 offeredChecking and savings accounts;
Credit cards;
Home and auto loans;
Investments
FeesIt varies according to the product you choose
Minimum balanceIt varies according to the product you choose
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How to join and start banking with Bank of America

Learn how to join and start banking with Bank of America, one of the largest banks worldwide.

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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

Keep reading our Bank of America review. Source: Canva.
Keep reading our Bank of America review. Source: Canva.

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.

Pros

  • 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.

Cons

  • 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.

join Bank of America

How to join and start banking with Bank of America

Learn how to join and start banking with Bank of America, one of the largest banks worldwide.

Keep Reading
card

How to join and start banking with Bank of America

You will remain in the same website

About the author

Aline Augusto

My name is Aline Mesquita; I'm a writer here on the blog, where I write about finance in general and other subjects. I have been working with content creation for ten years. Also, I'm post-graduated in Project Management, with expertise in SEO practices. Currently, I am studying finance, market trends, and cryptocurrencies.

Reviewed by

Aline Barbosa

Senior Editor

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Advertiser Disclosure

We are an independent, objective, advertising-supported content publisher website. In order to support our ability to provide free content to our users, the recommendations that appear on our site might be from companies from which we receive affiliate compensation. Such compensation may impact how, where and in which order offers appear on our site. Other factors such as our own proprietary algorithms and first party data may also affect how and where products/offers are placed. We do not include all currently available financial or credit offers in the market in our website.

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Opinions expressed here are the author's alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved, or otherwise endorsed by any of the entities included within the post. That said, the compensation we receive from our affiliate partners does not influence the recommendations or advice our team of writers provides in our articles or otherwise impact any of the content on this website. While we work hard to provide accurate and up to date information that we believe our users will find relevant, we cannot guarantee that any information provided is complete and makes no representations or warranties in connection thereto, nor to the accuracy or applicability thereof.

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