While Bank of America is one of the largest banks in the U.S. they also provide a variety of other fantastic features: Over 4,000 locations and 16,000 ATMs; Fantastic customer service with extended hours; They offers checking, savings, CDs, IRA, and investment accounts through Merrill Edge TalkOfNuYork Well-Known Member. From checking accounts to certificates of deposit, here are the categories where Bank of America comes out on top when compared to Chase. Compared to Chase, Bank of America has fewer nationwide branches. Please help us keep our site clean and safe by following our, Prevent identity theft, protect your credit, The difference between term and whole life insurance, How medical conditions affect your life insurance rate. J. P. Morgan Chase … Regardless of which bank you select, you will enjoy nationwide coverage and customer support. You can also link your checking account, though no transfer needs to take place as at Chase. >> Chase Vs Wells Fargo: Which Is The Better Bank? WITHOUT LIMITING THE FOREGOING, INVESTORMINT AND ITS AFFILIATES AND SUBSIDIARIES, AND THEIR RESPECTIVE OFFICERS, DIRECTORS, EMPLOYEES AND AGENTS EXPLICITLY DISCLAIM ANY WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, QUIET ENJOYMENT OR NON-INFRINGEMENT; ANY WARRANTIES ARISING OUT OF COURSE OF DEALING OR USAGE OF OR IN TRADE; ANY WARRANTIES, REPRESENTATIONS, OR GUARANTEES IN CONNECTION WITH THIS PLATFORM OR THE INVESTORMINT Services OFFERED ON OR THROUGH THIS PLATFORM; AND ANY WARRANTIES RELATING TO THE QUALITY, SUITABILITY, TRUTH, ACCURACY OR COMPLETENESS OF ANY INFORMATION OR MATERIAL CONTAINED OR PRESENTED ON THIS PLATFORM, INCLUDING WITHOUT LIMITATION ALL Collective Material. You can find other options on our list of best banks and credit unions. because it requires a lower balance to open and it offers a more generous sign-up bonus (expires 4/14/2021). You want slightly better rates on some savings products. Learn more, read reviews and see open jobs. Bank of America Travel Rewards vs. Chase … View side-by-side comparison of pros and cons. Bank of America is a national bank with widespread accessibility and wide range of services. Albeit marginal, Bank of America offers a higher savings rate compared to Chase. Explore NerdWallet's list of top online savings accounts. Customer service: Available by phone 8 a.m.-12 a.m. The scoring formulas take into account multiple data points for each financial product and service. Designed for a business with some time under its belt, the Chase … Where Bank of America savings rates are a good deal more competitive is in the area of certificates of deposit. Who it’s best for: Any business that makes significant monthly cash deposits and wants to earn a big introductory bonus. ET, Monday-Friday, 8 a.m.-8 p.m. If you aren’t sure a large bank is the best option for you, there are alternatives. NO ADVICE OR INFORMATION, WHETHER ORAL OR WRITTEN, OBTAINED FROM INVESTORMINT OR THROUGH THE PLATFORM, WILL CREATE ANY WARRANTY NOT EXPRESSLY MADE HEREIN. You have less to deposit for checking and savings. The Bank of America® Travel Rewards credit card, on the other hand, doesn’t offer quite as much value. Please keep our family friendly website squeaky clean so all our readers can enjoy their experiences here by adhering to our posting guidelines. Read Bank of America and Chase reviews and ratings at CreditDonkey. Otherwise, the two have similar features: high-rated mobile apps, large ATM networks and clear overviews of account offerings on their websites. YOU ARE SOLELY RESPONSIBLE FOR ALL OF YOUR COMMUNICATIONS AND INTERACTIONS WITH OTHER USERS OR MEMBERS OF THE PLATFORM AND WITH OTHER PERSONS WITH WHOM YOU COMMUNICATE OR INTERACT AS A RESULT OF YOUR USE OF THE PLATFORM, INCLUDING BUT NOT LIMITED TO ANY CUSTOMER MEMBERS, INVESTORMINT Partners OR SERVICE RECIPIENTS. Maintain an average beginning day balance of at least $5,000 across eligible Chase accounts. However, as we look under the hood and scrutinize both companies, a winner appears in each category. By letting you know how we receive payment, we strive for the transparency needed to earn your trust. Your Local Bank for Mortgage Loans: An Overview . And to enjoy the more favorable rates you don’t need to deposit more. On the other hand, Wells Fargo cut expenses by 6.5%. Neither bank is forgiving about overdrafts when compared with credit unions and online-only banks, some of which don’t even charge overdraft fees. Compare Chase vs Bank of America and see which is better. Neither bank offers savings rates worth bragging about, and they’re both below the dismal national average savings rate. The difference is so low that it is virtually meaningless, but nevertheless a win is a win! Chase competes with Bank of America when it comes to sign-up bonuses for both checking and savings accounts. On the whole, Bank of America and Chase charge similar fees for their accounts. Bank of America offers a checking option that has no overdraft fees, but it comes with a monthly fee that can’t be waived unless you’re a Gold, Platinum or Platinum Honors Preferred Rewards Member. With the Bank of America small business account, you only need to maintain a $5,000 average monthly balance to waive the monthly maintenance fee which is less than the other two best small business banks reviewed above. Our opinions are our own. For example Bank of America in Texas sets its minimum balance for its checking accounts at $5,000 to avoid monthly maintenance fees. Many or all of the products featured here are from our partners who compensate us. For other banking … If you find discrepancies with your credit score or information from your credit report, please contact TransUnion® directly. However, this does not influence our evaluations. Reap a higher return by stashing your cash in a high-yield savings or checking account, a CD ladder or a credit union. The current banking behemoth JPMorgan Chase came into existence in 2000 with one of the biggest mergers in the history of finance, but both of the banks had a long, storied history prior to that moment.