{"id":15155,"date":"2022-08-29T10:00:00","date_gmt":"2022-08-29T10:00:00","guid":{"rendered":"https:\/\/worldscholarshipforum.com\/wealth\/?p=15155"},"modified":"2022-08-29T13:31:14","modified_gmt":"2022-08-29T13:31:14","slug":"bank-of-america-online-banking","status":"publish","type":"post","link":"https:\/\/kiiky.com\/wealth\/bank-of-america-online-banking\/","title":{"rendered":"Bank Of America Online Banking Review| How Does It Work?","gt_translate_keys":[{"key":"rendered","format":"text"}]},"content":{"rendered":"\n

As of September 2016, Bank of America was the third-largest bank in the United States, with 4,700 branch offices in 35 states and $1.2 billion in domestic deposits. Its wide distribution makes it a wonderful choice for your checking account<\/a><\/strong>, but its low deposit interest rates \u2014 ranging from 0.01 percent to 0.06 percent \u2014 make it a poor choice for your savings.<\/p>\n\n\n\n

This article contains Bank of America Reviews. These reviews give relevant information about how Bank of America works, its features, and the different accounts that are available for customers.<\/p>\n\n\n\n\n\n

About Bank of America<\/strong><\/span><\/h2>\n\n\n\n

Bank of America is a good option if you want to merge your finances in one place, but not if you want to get the best interest rate on your money.<\/p>\n\n\n\n

Almost every retail bank product on the market is available through the bank, including checking accounts<\/a><\/strong>, savings, loans, and credit cards.<\/p>\n\n\n\n

Bank of America does nothing particularly well compared to its competitors, but you can count on finding at least some version of every product at the bank.<\/p>\n\n\n\n

READ ALSO: Best High-Yield Savings Accounts In 2022<\/a><\/strong><\/p>\n\n\n\n

How Does Bank of America Operates?<\/strong><\/span><\/h2>\n\n\n\n

Although comparing the largest banks is difficult because they provide many of the same services and products, Bank of America stands out in a few areas.<\/p>\n\n\n\n

Its standard daily limit of $1,000 on ATM cash withdrawals and $5,000 on debt purchases is significantly higher than that of Chase or Wells Fargo.<\/p>\n\n\n\n

Even among smaller regional banks, the only one with higher ATM and debit limits than Bank of America was PNC Bank, which allows up to $1,500 in ATM withdrawals and $7,500 in debit transactions per day.<\/p>\n\n\n\n

Furthermore, Bank of America’s higher limits may also apply to students. Instead of offering a separate checking option for college-age students, Bank of America allows them to enroll in its standard Core Checking program, which waives the $12 monthly fee for people aged 23 and under.<\/p>\n\n\n\n

This means that instead of having to deal with the more restrictive withdrawal and spending limits of a typical student account, college customers at Bank of America will most likely have access to the standard higher Core Checking limits.<\/p>\n\n\n\n

One area where Bank of America may disappoint you is its high number of incidental fees, such as a $5 charge for any printed statements you request from the bank. While some traditional banks have similar policies, Bank of America is at the upper end of the distribution, particularly when compared to low-service online accounts. While most people will not be affected by these fees, those who rely on uncommon services such as cashier’s checks<\/a><\/strong> may be hit hard.<\/p>\n\n\n\n

SEE ALSO: Chase Online Banking 2022 | How Does It Work<\/a><\/p>\n\n\n\n

Bank of America Products<\/strong><\/span><\/h2>\n\n\n\n

Besides its personal deposit accounts, Bank of America also offers the following banking products for its customers:<\/p>\n\n\n\n