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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.

 Bank of America
Member FDIC
US Bank
Member FDIC
 Visit SiteVisit Site
 

Bank of America

US Bank

SPECIAL OFFER
Bank of America Business Advantage Checking Account - $200 Bonus Offer - Learn More

Read Bank of America Review

SPECIAL OFFER
U.S. Bank Smartly® Checking and Standard Savings - Up to $800 Bonus - Learn More

Read US Bank Review

 

Benefits and Features

Savings
Check
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
Check
Standard Term CD: 0.05% - 0.25% APY. Terms ranging from 1 month - 60 months. Minimum deposit of $500. Maximum deposit $249,999.
Checking
Check
Smartly 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
  • Mon-Fri: 8am - 9pm (ET)
  • Sat: 8am - 8pm (ET)
  • Sun: 8am - 5pm (ET)
24/7 Live Customer Service (Telephone)
ATMs
Approximately 16,000+ ATMs
More than 37,000 ATMs across the country
IRA CD
Check
 
IRA Money Market Minimum opening deposit of $100 or $25 automatic monthly deposit. No monthly maintenance fees.
LocationsApproximately 3,900 retail financial centersMore than 2200 branches across the country.
 

CreditDonkey® Reviews

 Bank of AmericaUS Bank
SavingsStarStarEmpty StarEmpty StarEmpty StarStarStarStarEmpty StarEmpty Star
CDStarStarStarHalf StarEmpty StarStarStarStarStarEmpty Star
CheckingStarStarStarStarEmpty StarStarStarStarEmpty StarEmpty Star
Customer ServiceStarStarStarStarEmpty StarStarStarStarStarHalf Star
Mobile AppStarStarStarStarHalf StarStarStarStarStarHalf Star
Money MarketStarStarStarEmpty StarEmpty Star
Pros & ConsPros:
  • Large branch network
  • Extended service hours
  • Full service banking
Cons:
  • Monthly fees
  • Low interest rates
  • Many misc. banking fees
Pros:
  • Promo CD with high APY
  • Free student account
  • 24/7 customer service
Cons:
  • Low savings APY
Bottom LineNational bank with widespread accessibility and wide range of services... Read full reviewBig national bank with wide array of services and many account options... Read full review
 Visit SiteVisit Site

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
Member FDIC

Bank of America Business Advantage Checking Account - $200 Bonus Offer

Expires 6/30/2024
Earn a cash bonus in three steps:
  1. Open a new eligible business checking account by June 30, 2024
  2. Make Qualifying Deposits* of $5,000 or more in new money within 30 days of opening the new eligible business checking account
  3. Maintain an average balance of $5,000 for the next 60 days (day 31-90) during the maintenance period**
*Qualifying Deposits are deposits of new money, which is money not currently or previously held in any account at Bank of America or Merrill
**The maintenance period begins thirty-one (31) days after account opening and ends ninety (90) calendar days after account opening.
Member FDIC
Bank of America
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
Bank of America
Member FDIC

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
US Bank
Member FDIC

U.S. Bank Smartly® Checking and Standard Savings - Up to $800 Bonus

Earn up to $800 when you open a new U.S. Bank Smartly® Checking account and a Standard Savings account and complete qualifying activities. Subject to certain terms and limitations. Offer valid through December 29, 2023. Member FDIC.

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.

Expires 12/29/2023
US Bank
Member FDIC

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.
Expires 1/8/2024
US Bank
Member FDIC

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.
Expires 1/8/2024

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.


Articles on Bank of America

Bank of America Review

Bank of America is a national bank with many account options and user-friendly online banking. But does this convenience come at a cost? Read on.

Bank of America CD Rates

Bank of America is one the biggest banks in the U.S. But are their CD rates worth it? Read on to find out.

How to Close a Bank of America Account

Want to close your Bank of America account? Learn how and what you need to do before you close your account.

Bank of America Hours

Bank of America is open 5-6 days a week, depending on the location. Take a look at their business hours below.

Bank of America Routing Number

Find your Bank of America routing number and learn about money transfers in our guide.

Articles on US Bank

US Bank Review

Weighing up on banking with U.S. Bank? This comprehensive review covers its pros, cons and how it stacks up against other banks.

US Bank Complaints

U.S. Bank may be one of the best-established banks in the U.S. But it's not exactly problem-free. Here's what you may encounter.

US Bank vs Chase Business Checking

U.S. Bank offers a free business checking account, while Chase offers more features. Which is better? Find out here.

U.S. Bank Checking Account Bonus

Get a bonus when you open a new account with U.S. Bank. Learn more about their bonuses to kick-start your banking journey.

US Bank Business Checking Bonus

Boost your business with a U.S. Bank Business Checking bonus. Learn how to make the most out of this offer.

US Bank Routing Number

To transfer money in or out of your US Bank checking or savings account, you'll need the right routing number. Find your US Bank routing number below.

Which Do You Think is Best?


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About CreditDonkey
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