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...

Read more

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
    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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      Punctuality & SpeedStaffBilling

      Reviewed March 28, 2026

      I had a appointment to see Hawraa ** assistant vice president senior banker and the appointment was on time. She was very kind and courteous, very knowledgeable about Bank of America services and out of a 1 to 10 I will give her a 15. I would recommend Bank of America to friends and family. She helped me with setting up a CD account and upgrading my credit card.

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      Customer ServiceStaffBilling

      Reviewed May 28, 2026

      Bank of America I have been with them for quite some time now but this last transaction that happened they close my account due to the fact a payment was invalid, not knowing that the check was invalid so they decided to close my account without any type of notification so when I call the customer service number I talked to A Priscilla. Priscilla proceeds to mishandle me as a consumer, did not want to address my concern or issue as if she did not want to even learn about what was going on nevertheless.

      Andreas, which is the supervisor there he also stated, "We don't have to notify you when we close an account. It will come directly through mail," and do not want to show any type of concerns or reimbursement to me as of a client or consumer. I just feel like they mishandled me, very unprofessional the way they talk to people, but Bank of America has mishandled me several times and this was the last straw so no, but this is unacceptable action for me.

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      Customer ServiceTechSales & MarketingPunctuality & SpeedOnline & AppRefunds & PayoutsStaffBillingCommunication

      Reviewed May 26, 2026

      I set up a checking account online a month ago. I received a debit card and was able to view the account online as well as through the app. I was able to set up direct deposit with no problem. Unfortunately, I also set up ACH payments. However, when the payments went through, they were declined. I went to a local bank and was told that there was some kind of fraud and that the account was changed to credit only. I was never notified of any of this. I have spent the morning trying to pay the bills that they refused to pay and are now past due. I checked the account this morning and it was showing a zero balance. I called customer service and was told by Alfred that the bank chose to close my account without contacting me about any of the issues.

      Apparently, it is in the contract that the bank has the right to do that without informing the client. So, now I have to wait 7 to 10 days for the USPS service to hopefully deliver a check for the balance. I have a credit card and was also planning on opening several CDs through this bank, which will not happen now. Needless to say, the credit card will also be cancelled. I have excellent credit and have never been treated with such disrespect and disregard as I have through this bank. Anyone considering using Bank of America should steer clear!

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      Reviewed May 24, 2026

      The Security Department saved us nearly 1,000.00 by flagging a Zelle Transaction. It turns out the seller was fraudulent and we surely would have lost the money if not for the diligence of Bank of America's Security Department. Heartfelt thanks for the job you do. We are so grateful to have you on our team. Thanks again!!

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      Reviewed May 23, 2026

      I deposited a check on Friday at 7:30 pm and I won’t be able to get anything out of that check until Tuesday which is ridiculous. Chase and TDBank at least gives you half of the check until Tuesday which. I am probably going to close this account and stick to Chase and TDBank because Bank of America will have you starve before you get your money.

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      Loan ProcessRates

      Reviewed May 20, 2026

      I went to Bank of America for a HELOC loan. They had me submit a whole bunch of documents (taxes, paystubs, etc) just to turn around and decline me because they say my debt-to-income ratio was too high, even though my credit score is 780, and the loan is supposed to be secured by the home equity. This was a complete waste of time. I see why this bank has such a bad rating.

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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