Bank Accounts | Bank of America Banking Review

With the many options out there for choosing a bank, it can be difficult to pick the right one. One of the best ways to decide upon a bank is to read reviews. Reviews allow you to get an idea of whether the bank provides you with the services that you are looking for. Bank of America is an extremely popular bank. Millions of American’s utilize it for their own banking purposes. However, if you are not yet a customer of Bank of America, you may have a few questions regarding whether it is the right bank for you. Below is a review of Bank of America and its services.

Main Services found at

While there are many important factors to consider when choosing a bank, one of the most important is the services offered. Bank of America is extremely comprehensive in terms of services it provides. The major services are as follows:

  • Banking and Checking Accounts
  • Credit Cards
  • Online Banking and Bill Pay
  • Mortgage and Home Equity
  • CDs and IRAs
  • Auto Loans
  • Small Business Banking
  • Mobile and Text Banking
  • Investment and Wealth Management

Bank of America is Accessible

The next factor to take into consideration is Bank of America’s accessibility. You certainly do not want to choose a bank that is difficult to use. According to many resources, including the New York Times, Bank of America is very accessible to its customers because it makes a conscious effort to make banking easy. For example, offers an easy-to-use mobile application and it also has a website that is simple to navigate. The mobile application has some interesting features that allow you to deposit a check through your phone and conduct transfers at the click of a button. Also, the website is so convenient that you may not even need to ever visit the bank’s branch.


Much like credit cards, banks are also offering customers incentives to stay with them and use their services. Bank of America has a program that is known as “BankAmeriDeals.” BankAmeriDeals are cash back deals that you get when you make purchases with your Bank of America credit card or debit card. The cash back that you earn on purchases are credited to your account by the end of the month. Not only are these deals easy to earn, but the deals apply to popular restaurants and stores throughout the country. You can receive discounts at places like Redbox, retail stores, the Cheesecake Factory, and even travel companies.

Low Fees

For most people that use banks, the fees involved are extremely important. Bank of America strives to provide competitive fees and interest rates concerning its services. For example, when you have a Bank of America Credit Card, you may have a 0% Intro APR on purchases and balance transfers. In addition, auto-loans typically have an interest rate of 2.99%. Keep in mind though that the interest rate offered to you also depends upon your credit score and past payment history. If you have a high credit scores and no financial issues, then Bank of America may be a good choice for you.

The Disadvantages

As with every bank, Bank of America also has its disadvantages. A few of the most common complaints associated with Bank of America are as follows:

  • There are high fees involved with checking and savings accounts
  • There is a standard minimum to having a bank account
  • Bank of America is inclined to instill debit card fees

While these are certainly some major disadvantages, it is best to do your research regarding these issues. For some people, the fees associated with their account or the minimum balance rule may not be a problem. In addition, if you do not use a debit card, then the final disadvantage may not be irrelevant to you.


Bank of America is a decent bank to use. It offers a great mobile and web interface for banking purposes, there are cash back rewards that you can earn when you have a credit or debit card, and the fees are generally low. Also, while there are some disadvantages, these disadvantages may not be relevant to you.

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