Bank of America Reviews

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Edited by: Jana Lynch

About Bank of America

Headquartered in Charlotte, North Carolina, Bank of America is one of the largest banks in the U.S. and offers a range of banking products, such as checking and savings accounts and certificates of deposit (CDs). Customers can also use Bank of America for financing through various cash-back credit cards, personal loans and home and auto loans.

Pros
  • Savings, checking and investing options
  • Accounts for students
  • AI virtual assistant
Cons
  • Account fees might apply
  • Low APYs
  • Required account minimums for checking accounts

Helpful Reviews

Phoenix, AZ
Verified purchase
My experience with Bank of America exposed a serious failure in fraud protection. A fraudulent check was made to appear “available” almost immediately, creating a false sense of l...

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Shrewsbury, MA
Verified purchase
I had an exceptional experience with Uman ** at the Bank of America Northborough branch during a very difficult time following my wife’s passing. Uman provided outstanding custome...

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What is Bank of America?

Bank of America is a full-service bank that offers several different savings and checking accounts, including special-rate student checking accounts. It gives customers the advantages of a traditional brick-and-mortar bank, with over 3,900 branches across America, as well as the digital advantages that online banks offer, such as a mobile banking app, online bill pay and automatic savings features.

Users can access their account via the mobile app, which allows them to pay bills, transfer money, monitor for fraudulent activity, create custom alerts for due dates or low balances and access a digital wallet. Bank of America accounts come equipped with Erica, an AI virtual assistant that can provide advice based on a customer’s spending habits and help them make better financial decisions.

How does Bank of America work?

You can apply for a checking or savings account or CD in person at a local branch. Each account has a minimum opening deposit; most are $100. The student checking account only requires a $25 opening deposit for students under 25.

You will need to have the following information on hand when you apply:

  • Your basic information, like name, residential address and email address
  • Your Social Security number
  • Account numbers of current Bank of America accounts or other financial institution accounts for the opening deposit
  • Co-applicant's personal information (if applicable)

Most accounts come with maintenance fees that can be waived. It is a good idea to set up your account in a way that allows you to avoid monthly fees and overdraft fees. Additionally, set up your account through the mobile app so that you don’t miss any perks like BankAmeriDeals, which allows you to sign up for cash-back rewards through your purchases.

Bank of America fees

Most Bank of America accounts come with a monthly maintenance fee between $4.95 and $25, depending on the account. However, there are multiple ways to have this account fee waived, including setting up a recurring direct deposit, maintaining a minimum balance or being a Preferred Rewards member.

Other traditional banking fees apply to most accounts, including:

  • Excessive transfer/withdrawal on savings accounts: $10 per transaction
  • ATM/debit card replacement: $5
  • Out-of-network ATM fee: $2.50 to $5 per transaction
  • Overdraft fee: $10 per transaction
  • Stop payment fee: $30

Some accounts do not charge all of these fees or might waive overdraft fees when you connect a backup account.

Bank of America FAQ

How does Zelle work with Bank of America?

Customers can send or receive Zelle payments through their online account or via the app. Zelle is free to use, but there is no protection program against authorized payments, so only send payments to people you know and trust.

What type of fraud protection does Bank of America offer?

Bank of America will not hold you liable for unauthorized transfers or bill payments made via online or mobile Banking if you report them promptly. It will also reimburse you for any late payment charges that occur because of fraud. You can lock and unlock your cards through the app if you misplace a card or suspect fraudulent activity.

Does Bank of America have good interest rates?

Bank of America has low APYs for its savings account and Fixed Term CD. At the time of publishing, the Advantage Savings account has an APY of 0.01%, and the Fixed Term CD has an APY of 0.03%.

Still have questions?

Is Bank of America legit?

Bank of America is a household name in banking. Customers can open checking and savings accounts and have access to other products, including credit cards, home loans, auto loans and investing. If you are looking for a bank with a comprehensive list of offerings and both in-person and online services, Bank of America should be among the banks you’re considering.

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Bank of America Reviews

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    Page 1 Reviews 0 - 5
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    Customer ServicePunctuality & SpeedStaff

    Reviewed June 2, 2026

    I just had such a pleasant customer service call with Bank of America! I’m a new customer, and I called the main line with a few questions about setting up my mobile account as well as ways to expedite the card arrival. The person who answered said she was “Aaliyah out of Virginia.” (May have spelled her name differently.) She was efficient, kind, human, and helped me with multiple questions quickly and positively. One of best customer service interactions I’ve had in a long time! Thanks, Aaliyah! Shout out to you! I hope somehow this gets back to you!

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    Customer ServiceSales & MarketingPunctuality & SpeedStaffEase of Use

    Reviewed May 20, 2026

    Our family recently arrived in the United States, and navigating the financial system in a new country can be incredibly overwhelming. We walked into the Gaithersburg branch on a Saturday, just our second day in the country, and were immediately greeted with incredible warmth by the branch manager, Sharon. She was professional, highly welcoming, and completely calmed our nerves. She clearly explained all the documentation and requirements we would need to open our accounts and set up an appointment for us the following Monday.

    When we returned on Monday, Sharon personally handed us over to Roxana **, and we could not have asked for a better senior banker. Roxana embodies every single quality a newcomer needs: she is incredibly patient, deeply knowledgeable, highly professional, and genuinely kind. She spent a significant amount of time with us, carefully explaining how the US banking system works and answering all our questions without ever making us feel rushed.

    What impressed us even more was our follow-up visit. It was just as exceptional as the first. Roxana went above and beyond by personally walking us through the mobile app and online banking, ensuring our profiles were fully configured and that we knew how to navigate them. In summary, she got our family completely set up and ready for our new life here. Thanks to Sharon and Roxana, what could have been a highly stressful experience turned into a smooth, welcoming introduction to American banking. We are incredibly grateful for their outstanding service and highly recommend this branch! Monicah

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      Customer ServiceCoverageStaff

      Reviewed April 23, 2026

      I am commenting on the excellent customer service I received from Kate in the fraud department. After reviewing my recent transactions, something came up I did not recognize, so of course they have to cancel my card. Well I was at the gas station and I really needed gas and told her this. She was able to allow a one time purchase by reinstating the card and she did this because it was after 6 I could not get to the bank. To make a long story short, Kate fixed my card for one time and waived the fee to have my new card sent faster. She and I were on the phone 45 minutes working this through. I have not experienced this kind of service from anyone, and am very grateful for her help. And this was the fraud department, mind you, where I am sure they must get tired of us, right?

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      Customer ServiceSales & MarketingPriceStaff

      Reviewed April 22, 2026

      POSITIVE REVIEW! Hello! I want to leave a positive comment/review for an employee that helped me tonight. I was hoping to receive a survey to leave a review, but one hasn’t come in yet. My name is Stacie **. I live in Texas. I was helped on the phone by a rep named Nick who lives in upstate NY around the Utica area with an upstate NY accent!

      He was polite, friendly, helpful, supportive, knowledgeable and empathetic to the situation. I was scammed by a company “ShortMax Innovations” and he helped me to dispute the charges. He explained the process to me about pending charges needing to be addressed after they processed. Everything about the call was IDEAL customer service. This is a worker went the extra mile in his position and deserves recognition.

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      Customer ServiceStaff

      Reviewed April 6, 2026

      I had an exceptional experience with Uman ** at the Bank of America Northborough branch during a very difficult time following my wife’s passing. Uman provided outstanding customer service and guided me patiently through the process of consolidating her accounts into our existing joint account. He gave clear direction regarding fund transfers, explained each step in detail, and ensured everything was handled accurately and efficiently.

      What truly stood out was his empathy, compassion, and genuine care. During such an emotional and overwhelming time, he treated me with kindness and respect, making a difficult process much easier to manage. He took the time to listen, answered all my questions without hesitation, and made sure I was comfortable with every decision.

      His professionalism, responsiveness, and attention to detail gave me great confidence that everything was being handled properly. It is rare to find someone who combines technical expertise with such a high level of personal care. I am truly grateful for his support and would highly recommend Uman ** to anyone looking for dedicated and compassionate banking assistance.

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      Reviewed June 6, 2026

      This financial Institution of New Jersey, Businessmen like Bank of America have a physical presence in the Garden State first and foremost the U.S. veterans, customers. HIGH LEVELS OF TRUST AND SATISFACTION!!

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      Customer ServicePunctuality & SpeedStaff

      Reviewed June 5, 2026

      I've been waiting to speak with a customer service agent for 54 minutes. Seriously? A bank with the resources of BofA can't connect you with a human representative within an hour? I've been banking with BofA since 1981 and have RARELY requested to speak with customer service via phone. This will be my last phone call to BofA. A call that initially began as a relatively simple inquiry, has now become a call to cancel my accounts. My next call with be to Schwab to sell my BofA stock. Ciao.

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      Reviewed June 5, 2026

      Bank of America is a highway robber. I deposited a personal check from another US Bank and the bank is "Holding" my funds for 9 days and not giving me a reason why. The funds already cleared my other bank and I am unable to access even a dime from Bank of America.

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      Customer ServiceStaff

      Reviewed June 5, 2026

      I have been banking with them for 20 years. I got an account at 16 years old. I have had some issues in the past and should have left long ago, but I was lazy. I recently lost my job and had to take money from my 401k (voya). I deposited this check and Bank of America claims it shows signs of insufficient funds and will not release any amount of my much needed money. I'm closing this account the second they release it. I sat on the phone for 3 hours and 20 minutes, after offering to call voya or get any information they needed to confirm this they are unwilling to help in any way. Then I said a few bad words (not name calling or referring to them in anyway) after 3 hours and 20 minutes and they ended the call like I was a child telling me I can't cuss!

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      Customer ServicePunctuality & SpeedRefunds & PayoutsStaff

      Reviewed June 4, 2026

      Representative on the phone was great. But the 40 min wait time was ridiculous and during that wait time a transfer went through that I was trying to block/stop. So now have to wait 45 days to see if they will refund the money. Which I doubt now that it went through. But if they had answered when I called it would have been simple. If wait times are always going to be this long hire more employees. People need jobs and we need access to our financial institution. This is how it goes whenever I call. Wait way too long. But as I said the representative was awesome.

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      Bank of America Company Information

      Company Name:
      Bank of America
      Company Type:
      Public
      Ticker Symbol:
      BAC
      Year Founded:
      1992
      Address:
      100 North Tryon St
      City:
      Charlotte
      State/Province:
      NC
      Postal Code:
      28255
      Country:
      United States
      Website:
      www.bankofamerica.com