Bank of America

Billing itself as the "Bank of Opportunity," Charlotte-based Bank of America strives to live up to that promise. With 5,000 locations in 35 states, the bank is the closest thing to a national bank that exists today. It offers online banking nationwide, including brokerage and private banking through U.S. Trust. With the ability to lend in all 50 states, through credit cards, mortgages and home-equity loan, Bank of America can reach anyone anywhere. Perhaps they should call the country: The United States of Bank of America.

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Bank of America Reviews

3.0 Dave's Rating
Staff
Aug 12, 2008 2:53 pm

good outfit, well managed. but the hike in ATM fees is killing me!

1.0 Matt's Rating
Staff
Jul 19, 2008 4:17 pm

If I could give them a lower rating, I would. I have a Personal Line of Credit with BoA (not listed in the Products above) and have had it since 2006.

The account has been in good standing and I have utilized as much as 95% of it in the past. I have made regular (above minimum) monthly payments and the full balance is available.

I like to keep the line open in case I need money in an emergency. However, when I called to check on it, I was told by customer service that while the account has a decline statement on it. The account has a 0 balance, has always been in good standing and my credit score has actually increased 40 points since opening the account.

BoA did not give a reason why they set the account to decline status.

What is the point in keeping a line of credit open if the provider won't allow you to access it.

I'll take my money and business elsewhere.

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1.0 a@e.com's Rating
Jun 15, 2008 4:58 am

they are fee hungry, terrible service, and people running the company the company have not left Charlotte, NC and seen the rest of the world

1.0 carletonmoten's Rating
Jun 13, 2008 5:53 pm

bofa arbitrarily closes one's accounts at the point where rewards are due to be paid.

and the fee to do ach xfers out is uncompetitve.

3.0 Kristen's Rating
Staff
May 31, 2008 5:59 pm

How I love, and hate, Bank of America. Oh let me count the ways:

I love them because:
1) ATMs abound
2) Their website is terrific: it's easy to pay bills and track accounts in one place
3) Customer service at branch offices is always great

The bank drives me mad because:
1) I move around a lot. Like Minhthe, I've run into trouble because the bank has not yet integrated all of its state systems together.
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2.0 Minhthe's Rating
Staff
May 29, 2008 12:26 pm

The only reason I do business with Bank of America is that they have ATMs everywhere. Aside from this advantage, I find the rest of their business subpar.

I originally opened my account with them on the West Coast. When I moved to the East Coast, they told me I happen to live in the three states where their systems aren't connected. Therefore, they cant provide the full service capability in any of their branches on the East Coast. Good thing I do most of my management online. At least their ATM machines work seamlessly for someone that came from one of their 'forbidden' states.

The one thing that annoys me most is their Fees. I get a fee slapped on me if I walk even slightly out of bounds. I then have to call and inquire about a new charge and negotiate with them to take it off. They usually do but c'mon!

If you want the convenience of ATMs everywhere and you self-manage your money online - BAC isnt so bad. But dont think twice about calling them. Their queue is long and they will slap you with a fee just for calling in.


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5.0 Francisco's Rating
Staff
May 27, 2008 5:29 pm

I bank at Bank of America mainly because of the "My Portfolio" function on their website. It's a convenient way to put all your accounts in one place, such as my investment brokerage account, credit cards, other bank accounts, frequent flyer accounts, 401k, and even my mortgage account. When I log into Bank of America's site, I can see everything in one place!
Other than their website, their ATM locations are a big plus since Bank of America locations are just about everywhere throughout the US.
The only down side about them is their fees, which occasionally pop up in my accounts here and there.

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The rate information on this page is powered by Informa Research Services, Inc. © 2008, and was last updated 08/20/2008 5:03:00 AM. This information has been obtained from various financial institutions, and Informa Research Services cannot guarantee its accuracy. The information includes financial product data that was in the Informa Research Services database at the time of publication, and may not reflect all of the products available in your region. Before acting on the information shown on this page, contact the financial institution to verify the accuracy of the data. When contacting financial institutions, always mention FiLife.com to ensure you receive the preferred Internet rate. Contact pduncan@informars.com to have your rates included in this chart.

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