Bank of America vs US Bank
Bank of America is a national bank with widespread accessibility and wide range of services. How does it compare to US Bank? Read our comparison chart below.
Bank of America is one of the largest banks in the U.S. with approximately 4,300 locations and 17,000 ATMs. It is known for good customer service with extended hours. It offers checking, savings, CDs, IRA, and investment accounts through Merrill Edge.
While US Bank has over 2,200 branches across 26 states. It has somewhat high minimum balance requirements to waive monthly checking account service fees. Their promotional CD Special offers high interest rates with a $1,000 minimum opening deposit.
Compare Bank of America with US Bank, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.
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Bank of America | US Bank | |
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Bank of America Business Advantage Checking Account - $200 Bonus Offer - | U.S. Bank Smartly® Checking and Standard Savings - Up to $800 Bonus - | |
Benefits and Features | ||
Savings | ![]() | 0.01% APY. Minimum deposit $25. Monthly maintenance fee $4, unless you have $300 minimum daily ledger balance OR $1,000 average monthly collected balance. |
CD | ![]() | Standard Term CD: 0.05% - 0.25% APY. Terms ranging from 1 month - 60 months. Minimum deposit of $500. Maximum deposit $249,999. |
Checking | ![]() | |
Money Market | 0.01% APY, depending on amount. Minimum opening deposit $100. Monthly maintenance fee $10 unless you have $10,000 daily ledger balance. | |
Customer Service |
| 24/7 Live Customer Service (Telephone) |
ATMs | More than 37,000 ATMs across the country | |
IRA CD | ![]() | |
IRA Money Market | Minimum opening deposit of $100 or $25 automatic monthly deposit. No monthly maintenance fees. | |
Locations | Approximately 3,900 retail financial centers | More than 2200 branches across the country. |
CreditDonkey® Reviews | ||
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Savings | ![]() ![]() ![]() ![]() ![]() | ![]() ![]() ![]() ![]() ![]() |
CD | ![]() ![]() ![]() ![]() ![]() | ![]() ![]() ![]() ![]() ![]() |
Checking | ![]() ![]() ![]() ![]() ![]() | ![]() ![]() ![]() ![]() ![]() |
Customer Service | ![]() ![]() ![]() ![]() ![]() | ![]() ![]() ![]() ![]() ![]() |
Mobile App | ![]() ![]() ![]() ![]() ![]() | ![]() ![]() ![]() ![]() ![]() |
Money Market | ![]() ![]() ![]() ![]() ![]() | |
Pros & Cons | Pros:
| Pros:
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Bottom Line | National bank with widespread accessibility and wide range of services... | Big national bank with wide array of services and many account options... |
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Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details. Bank of America: Pricing information from published website as of 12/05/2023 based on 91107 zip code. US Bank: Pricing information from published website as of 12/07/2023 based on 91107 zip code. |
Bank of America Business Advantage Checking Account - $200 Bonus Offer
- Open a new eligible business checking account by June 30, 2024
- Make Qualifying Deposits* of $5,000 or more in new money within 30 days of opening the new eligible business checking account
- Maintain an average balance of $5,000 for the next 60 days (day 31-90) during the maintenance period**
**The maintenance period begins thirty-one (31) days after account opening and ends ninety (90) calendar days after account opening.
Member FDIC
Business Advantage Fundamentals™ Banking
- No fee for first 200 transactions per statement cycle
- No fee for first $7,500 in cash deposited per statement cycle
- Waive the $16 monthly fee in a variety of ways
Business Advantage Relationship Banking
- No fee for first 500 transactions per statement cycle
- No fee for first $20,000 in cash deposited per statement cycle
- Waive the $29.95 monthly fee by maintaining a $15,000 combined average monthly balance
U.S. Bank Smartly® Checking and Standard Savings - Up to $800 Bonus
Earn up to $500 with a new Bank Smartly Checking account. Complete the following within 90 days of account opening:
- Enroll in online banking or the U.S. Bank Mobile App
- Make two or more direct deposit(s) totaling $5,000 to $9,999.99 to earn $300 or $10,000 or more to earn $500
Earn up to $200 with a new Standard Savings account.
- Make new money deposit(s) totaling $25,000 by January 31, 2024
- Maintain that balance until July 31, 2024
Earn an additional $100 by fulfilling both the Bank Smartly Checking and Standard Savings requirements!
Offer may not be available if you live outside of the U.S. Bank footprint.
Silver Business Checking Package - Up to $800 Bonus
Earn up to an $800 bonus when you open a new, eligible U.S. Bank business checking account online with promo code Q3AFL23 and complete qualifying activities, subject to certain terms and limitations. Offer valid through January 8, 2024. Member FDIC. Complete these steps to earn the offer:
Earn your $350.
- Complete $5,000 in new money deposits within 30 days of account opening and maintain for 60 days after account opening.
Earn your $800.
- Complete $25,000 in new money deposits within 30 days of account opening and maintain for 60 days after account opening.
Gold Business Checking Package - Up to $800 Bonus
Earn up to an $800 bonus when you open a new, eligible U.S. Bank business checking account online with promo code Q3AFL23 and complete qualifying activities, subject to certain terms and limitations. Offer valid through January 8, 2024. Member FDIC. Complete these steps to earn the offer:
Earn your $350.
- Complete $5,000 in new money deposits within 30 days of account opening and maintain for 60 days after account opening.
Earn your $800.
- Complete $25,000 in new money deposits within 30 days of account opening and maintain for 60 days after account opening.
Which is Better: Bank of America or US Bank?
Still need help deciding which bank reviews & deals is better? Read the in-depth reviews below. You may also be interested in comparing Bank of America or Chase.
In short: Bank of America's checking is noteworthy.