Bank of America near me? Is the second-largest bank in America regarding assets. Bank of America has so many branches all over the US, and it’s the most accessible bank. Bank of America can be near you, but we need to know everything about its features before we talk about its different locations.

So whether you should open an account or not, we will discuss further in this article.

OFFERS

 One of the largest banks offers a wide range of services, products, and accounts. All these to help you manage your money. You can choose any accounts and services suitable according to your needs. We are providing details of all these services so you can decide whatever your requirements are:

Types of accounts: 

  • Checking account
  • Saving account
  • Credit cards
  • Certificates of deposit

Services: 

  • Online banking
  • In-person banking
  • Customer service

Checking Account: 

  • Advantage Safe Balance Checking Account

This account is a good option as there are no draft fees or non-sufficient funds fees. Also, there is no monthly fee if you meet their requirements. But requirements are not easy to complete as you have to maintain a three-month combined average balance of $ 20,000, and you will need to participate in the Preferred Rewards Program. If you cannot meet these requirements, then a monthly fee of $4.95 is charged.

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But you can easily move your money by ATM, deposit, or transfer. 

  • Advantage Plus Checking Account

This account is more attractive as you need a $100 deposit to open. Bank of America also has the option to purchase paper checks. They have a monthly fee of $12, and if you meet one of the following requirements, the price will be waived:

  1.  participate in Preferred Rewards Program ( maintain $20,000 average balance) 
  2. You have to keep an average balance of $1500 daily.
  3. Direct deposit $250 at least.

But the problem is they overcharge the draft and non-sufficient funds fees, depending upon your situation.

  • Advantage Relationship Checking Account

If you keep large amounts in your accounts, this can be a good choice. A monthly fee of $25 is charged, but it can be waived if you maintain at least $10000 in your linked accounts in each statement cycle. You can earn an interest of about 0.01% (which is low). 

Saving Account: 

  • Advantage Savings Account

This account is least likable, as saving accounts are only for adults, and the interest rate is only 0.03%. A monthly fee of $8 is applied to this account, but if you keep an average daily balance of $500, this fee can be waived off. 

  • Minor Savings Account

Minor savings accounts are for children under 18, which you can jointly open with a minimum deposit of $25. If more than six withdrawals in a statement cycle are made, then a fee of $1 has to be paid, but if you maintain the balance of $300, this fee is also waived. 

  • UMTA Custodial Savings Account

This account is similar to a minor savings account, but you own this account until your child is 18; afterward, this ownership is transferred to your child. This account is a good option if you want to save money for them, and they will be able to spend it after they turn 18. 

  • Certificates Of Deposit:

Regular certificates of deposits are of two kinds; featured CD and standard CD. A limited amount of about $1000 is enough to start for a standard CD. Length ranges from 28 days to 10 years, and unfortunately, the interest rate is meager.

For featured CDs, large amounts are suitable as they offer better interest rates than standard ones but not as good as other Banks. Their term length is also limited; 7, 10, 13, 25, and 37 months.

Credit Cards: 

Bank of America is the largest credit card issuer as part of one of the largest banks. They have 23 different options in credit cards; they also have partnerships with multiple companies to provide certain perks of credit cards.  

Keep The Change Program: 

We all go through the troubles of saving money; this program is a unique way to help saving you money without being noticed. How does this program help? For instance, you are buying something which costs around $3.42, if you are paying through a credit card, the amount will be automatically rounded off to $4, and the remaining 58 cents will be transferred to your savings account. So you can save while spending the money.

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In the long run, these cents will help you build up your savings, and interest on your savings account will help more without depositing more. 

Bank Of America Near Me:

Bank of America has around 4600 financial centers and 16,000 ATMs all around America. You can locate them by their website’s location finder https://locators.bankofamerica.com/

Their locations are easily accessible all around America, so you don’t need to worry about it. Also, they have online banking options, so you don’t need to visit branches for transactions. However, they don’t offer 24/7 call-in customer support. 

Final Words: 

Bank of America offers multiple services and accounts with the most easily accessible locations all around America. You can find nearby locations on their location finder easily. After this article you can now decide which type of account you want to open and even if Bank of America is a good choice for you.