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Why you should bank with Bank of America?
Pros Explained. Unparalleled access with approximately 4,300 branches and approximately 17,000 ATMs – Bank of America has one of the largest networks of branches and ATMs in the U.S. This gives customers the peace of mind that they’ll have access to their money no matter where they travel.
Is Bank of America a good bank for savings?
Final Verdict. The Bank of America Rewards Savings account is not a great savings account because of the high monthly fee and tough fee-waiver requirements. It may serve as an easy cash reserve for emergencies when linked to a Bank of America checking account. Otherwise, it doesn’t really help you grow your savings.
What is the rating for Bank of America?
Bank of America, N.A.
| Type | Moody’s | Fitch |
|---|---|---|
| Deposits | Aa2 | AA+ |
| Long-term senior | Aa2 | AA |
| Subordinated | Aa3 | A+ |
| Short-term | P-1 | F1+ |
Does Bank of America have fees?
While there are no student-specific checking accounts, Bank of America will waive the maintenance fee for qualifying students….
| Bank of America Checking Account Fees | |
|---|---|
| Fee | Amount Charged |
| Out-of-network ATM | In U.S. $2.50 Outside of U.S. $5 |
| Overdraft | $35 |
| Foreign exchange rate | 3\% |
Is my money safe in Bank of America?
Yes, all Bank of America bank accounts are FDIC insured (FDIC #3510) up to $250,000 per depositor, for each account ownership category, in the event of a bank failure.
Is Bank of America a good checking account?
The Final Verdict As a basic checking account from one of the biggest banks in the country, the Bank of America Advantage Plus Banking account is very attractive because of its access to physical branches and ATMs. It’s also good for people who like to bank in person and talk to bankers to help with their accounts.
What are the advantages of Bank of America?
Bank of America Pros (Advantages) Accessibility. Bank of America is omnipresent. If you open an account, you can be pretty sure that there will be a branch close by, since Bank of America is in every state in the union. Its ATMs are legion, reducing the likelihood that you’ll have to pay foreign ATM fees. Ease of use.
Is Bank of America a real bank?
The (Real) Bank of America. That bank, of course, is the United States government—the real bank of America—and it’s unlike any other bank. For starters, its goal is not profit, although it is profitable on paper, and its loans are supposed to help its borrowers rather than its shareholders, better known as taxpayers.
What is Bank of America positive pay?
Positive Pay is an automated fraud detection tool offered by the Cash Management Department of most banks. In its simplest form, it is a service that matches the account number, check number and dollar amount of each check presented for payment against a list of checks previously authorized and issued by the company.
Does Bank of America have free checking?
There is no totally free checking option from Bank of America. However, it is possible to avoid paying any monthly fees for your Bank of America checking account.