Bank of America Review
Bank of America (BofA) is one of the largest consumer banks in the U.S., with extensive branch and ATM presence. It offers checking, savings, CDs, and credit products. Monthly fees apply on most accounts but can often be waived. This review uses placeholder data — verify all current terms directly with Bank of America.
Best For
- Customers who value in-person banking access
- Those who can meet balance or direct deposit waiver conditions
- Consumers who want broad product offerings under one bank
Pros
- Very large branch and ATM network
- Full suite of personal banking products
- Preferred Rewards program for eligible customers
- Strong mobile banking app
- Zelle support
Cons
- Monthly fees if waiver conditions are not met
- Savings APY typically below online bank rates
- Overdraft fees on some accounts
- Can feel complex for basic banking needs
Account Types & Features
Bank of America Advantage Plus Banking
Monthly Fee: $12 (waivable)
Core checking account option
Bank of America Advantage SafeBalance Banking
Monthly Fee: $4.95 (waivable for eligible students)
No overdraft — transactions declined if funds insufficient
Bank of America Advantage Savings
Monthly Fee: $8 (waivable)
APY: Low — verify current rate with BofA
Basic savings account
Fees & Rates
| Fee Type | Amount |
|---|---|
| Monthly Fee | $4.95–$25 depending on account type |
| Minimum Balance | Varies — verify with Bank of America |
| Overdraft Fee | Varies — verify current terms with BofA |
| ATM Fee | Free at BofA ATMs; fee at non-BofA ATMs |
| Wire Transfer Fee | Varies by type — verify with BofA |
All fees subject to change. Verify directly with Bank of America.
ATM Access
Bank of America has one of the largest ATM and branch networks in the U.S. Non-BofA ATM fees may apply. [Verify current terms with Bank of America.]
Transfers
Supports Zelle, ACH, domestic and international wires. Limits and timing vary by account. [Verify current limits with BofA.]
Mobile Banking
The BofA mobile app supports mobile check deposit, Zelle, and account management. Rated highly in app stores. [Verify current mobile deposit limits with BofA.]
Frequently Asked Questions
Compare Bank of America
See how Bank of America stacks up against other banks side by side.
View All Comparisons