Bank Of America Branch

What is Bank of America?

Bank Of America is the second largest bank in the US. It has with 16,900 ATMs. It offers a wide range of services like checking accounts, credit cards, personal loans, auto loans, and home loans, and even has a Merrill Edge wealth management division where you can keep your brokerage accounts and retirement accounts. Over the last twenty years bank was part of many consumer controversies. Number of law suites filed against it. Overall Bank Of America is famous for its bad customer service, not giving a sh*t about retail customers. When you call customer support, they can put you on a 20-minute hold and transfer numerous times. At the same time, many users may not face any troubles at all due to luck, premium status, etc.

Credit Cards

Bank Of America has a credit card business. It offers co-branded credit cards like Alaska Airlines and its own cards like Travel Rewards and Customized Cash Rewards. These cards have very few benefits. I personally prefer Chase credit cards and cards offered by American Express. My first-hand experience says that if you have a choice, you should target other cards.

Loans

Loans that are offered by Bank of America include auto loans and a home loans. There are 3 terms for auto loans 48, 60, 72 months. Rates change over time and depend on whether the card is new or used or whether it is refinanced.

Checking and savings accounts

Bank of America offers 3 types of checking accounts.

Advantage SafeBalance Banking

The checking account has $5 monthly fee. If you want to avoid the fee you should be a student under 25. In my opinion it makes no sense to have it.

Bank of America Advantage Plus Banking

Most popular is Advantage Plus Banking charges $12 monthly fee. You can avoid it if you receive $250 direct deposit per month or have $1,500 on your balance.

Bank of America Advantage Relationship Banking

Bank of America Mobile check deposit is a useful service that can save you time if you don’t want to visit bank branch or ATM. On the other hand, if you want to use Bank Of America ATMs you should know its limits.