B+ MyBankTracker Rating

Bank of America

About Bank of America

Bank of America can be traced back to 1904, and was originally known as Bank of Italy. The man who founded Bank of Italy, Amadeo Giannini, wanted to cater to the immigrants who were new to the U.S. at the time, rather than the rich. It’s been said that fictional character George Bailey from the classic holiday movie “It’s a Wonderful Life” was inspired by Giannini. Today, Bank of America hails as one of the world’s biggest institutions, which includes wealth management division, Merrill Lynch.

Bank of America logo

MyBankTracker rated based on the following criteria that includes real customer reviews and bank fees, among others. Our bank report card is a proprietary rating system that highlights the financial health and stability of the bank. See how it’s rated.

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Customer Reviews

Most Helpful Bank of America Bank Customer Reviews

  • LB
    Reviewed By Lisa b. Dec 28, 2012

    Very bad

    Tried to cash a check made out to me from Bank of America--the bank itself. They wanted to charge me a $5 fee to cash a $130 check even though i have three mortgages at B of A (never paid late). I was in a B of A branch with a B of A check. This mega corporation will nickel and dime regular people any way it can.

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  • EB
    Reviewed By Edward b. Dec 29, 2012

    Very Poor

    I was sent a credit card statement and paid the exact amount the statement said in fact 7 days early. Next month I was sent another statement for About $6.00 in additional interest due. I called Customer service couldn't get an answer there either, Was told it wasn't much so just pay it, Their customer service is just a joke. They need to study Discover. There are much better cards out there, Keep looking.

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  • S
    Reviewed By Seamus Nov 14, 2013

    Business Line Of Credit

    We've been a customer since 1993. We had a $50,000 business line of credit with bofa with a $0 balance for at least 2 years. When i came back from vacation out of the country, i noticed that there was a draw of $10,000 against our loc. I immediately called bofa and asked who withdrew the money and asked where the money; it didn't show in our bank account. Bofa couldn't answer me so i asked that the loc be frozen until i got an answer. All they could tell me 3 days later was that it was a teller error (they entered the wrong account number). Two years later i needed to access our loc. They said it was frozen. I said yes, i know, i froze it. They told me hat if i wanted to access the line i have to go through an approval process all over again. I told them to shove it and got a $120,000 loc elsewhere. They had the nerve to send a rep to get my business back.

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  • Type Fee National Average
  • Monthly Inactivity N/A
  • Non-Sufficient Fund (Overdraft) N/A 0
  • Stop Payment item N/A 0
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  • Domestic Wire Transfer (Outbound) N/A 0
  • Domestic Wire Transfer (Inbound) N/A 0
  • Non-Bank ATM N/A