Bank of America vs Wells Fargo
Bank of America is a national bank with widespread accessibility and wide range of services. How does it compare to Wells Fargo? 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 Wells Fargo is one of America's largest banks with over 4,500 locations and 12,000 ATMs. Offers many checking options, including Teen Checking and Opportunity Checking for those who had financial troubles. 24/7 customer service. Special CDs offers high rates with $5,000 minimum opening deposit.
Compare Bank of America with Wells Fargo, side-by-side. Read on for an in-depth look, including ratings and reviews.
Bank of America | Wells Fargo | |
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Bank of America Advantage Plus Banking® - $100 Bonus Offer - | Personal Checking Account - $2,500 Bonus - | |
Benefits and Features | ||
Savings | ![]() | 0.15% APY. Minimum opening deposit of $25. Monthly service fee of $5, unless you maintain a minimum daily balance of $300, make 1 automatic transfer each fee period of $25 or more from a linked Wells Fargo checking account, make 1 automatic transfer each business day within the fee period of $1 or more from a linked Wells Fargo checking account, make 1 or more Save As You Go® transfers from a linked Wells Fargo checking account, or primary account owner is 24 years old or under. |
CD | ![]() | Standard Term CD: 0.50% to 2.50% APY. Terms of 3 months to 1 year. Minimum deposit of $2,500. Bonus of up to 2.51% APY if you maintain a linked Portfolio by Wells Fargo relationship. |
Checking | ![]() | Clear Access Banking, Everyday Checking, Portfolio by Wells Fargo |
Money Market | Also known as the Platinum Savings Account. 0.25% - 2.50% APY. Minimum opening deposit of $25. $12 monthly service fee, unless you maintain a minimum daily balance of $3,500. Bonus APY of 2.51% requires account linked to Portfolio by Wells Fargo relationship. | |
Customer Service |
| Available 24 hours a day, 7 days a week. |
ATMs | More than 12,000 ATMs across the country. | |
IRA CD | ![]() | Standard Term CD: 0.01% to 2.50% APY. Terms of 1 month to 144 months. Minimum deposit of $1,000. Bonus of up to 2.51% APY if you maintain a linked Wells Fargo Prime/Portfolio Checking account. |
IRA Money Market | Also known as Retirement High Yield Savings. 0.25% - 2.50% APY. $100 minimum opening deposit. | |
Locations | Approximately 3,800+ retail financial centers | Approximately 4,500+ retail banking branches coast to coast. |
CreditDonkey® Reviews | ||
Savings | ![]() ![]() ![]() ![]() ![]() | |
CD | ![]() ![]() ![]() ![]() ![]() | |
Checking | ![]() ![]() ![]() ![]() ![]() | |
Customer Service | ![]() ![]() ![]() ![]() ![]() | |
Mobile App | ![]() ![]() ![]() ![]() ![]() | |
Pros & Cons | Pros:
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Bottom Line | National bank with widespread accessibility and wide range of services... | |
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 5/15/2023 based on 91107 zip code. Wells Fargo: Pricing information from published website as of 5/27/2023 based on 91107 zip code. |
Which is Better: Bank of America or Wells Fargo?
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