Bank of America is one of the world’s largest financial institutions, operates in 32 states, the District of Columbia and 31 countries. Headquartered in Charlotte, North Carolina, its wide range of services include banking, investing, asset management, and more.
Based on MyBankTracker’s Bank Report Card, Bank of America scores 3 out of 5 marks overall, ranking highly in the number of locations and mobile services.
However, the bank gets only 2 out of 5 stars on average from reviewers. Users consistently complained of general incompetence, confusion, ample fees and overdraft charges. Kathy A. writes:
I just closed 3 accounts w/ BOA – I was charged $140 in overdraft fees even though my bank statement did not show a negative balance… I called customer service – on hold for a long time then they were rude and no help, went to a branch and talked to the vice president… I asked the vice president of the branch to please fix the problem, he flatly refused and offered no help. I told him that I would be closing my 3 accounts and spreading the word not to use his bank and why. He told me “go ahead and do whatever I needed to” – he didn’t care in the least.
There are also some positive reviews praising the bank on its good service. Akale1982 writes:
I like the convenience of ATMs everywhere and have found the people working in the bank to be pleasant and helpful. I agree interest rates are low but I view this as a place to just keep ready cash, NOT long term savings or investments.
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(Reviews have been edited for clarity.)
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