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Bank of America vs Capital One

Bank of America is a national bank with widespread accessibility and wide range of services. How does it compare to Capital One? Read our comparison chart below.

Bank of America is one of the largest banks in the U.S. with over 5,000 locations and 16,000 ATMs. It is known for good customer service with extended hours. It offers checking, savings, CDs, IRA, and investment accounts through Merrill Edge.

While Capital One offers competitive rates on their savings account. Their interest checking has several overdraft options in cases of accidental overdraw. There are no minimum deposits or service fees.

Compare Bank of America with Capital One, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.

 

Bank of America

Capital One

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Benefits and Features

Savings0.03% APY (up to 0.06% if enrolled in Preferred Rewards). $8 monthly maintenance fee, unless you have 1) daily balance of $500, 2) are a Bank of America Preferred Rewards Client, or 3) link your Rewards Savings Account to your Interest Checking Account. Minimum deposit of $100.1.80% APY. No monthly service fee and no minimum deposit.
CDStandard Term CD: 0.03% - 0.75% APY. Terms of 28 days to 10 years. Minimum deposit of $1,000. Featured CD: 0.07% - 1.60% APY. Terms of 12, 13, 25, and 37 months. Minimum deposit of $10,000.0.60% to 2.10% APY. Terms of 6 months to 5 years. 12-month CD APY of 2.10%. No deposit to open.
Checking 0.20% APY. No monthly service fee and no minimum deposit. Overdraft options prevent you from being charged when you accidentally overdraw
Customer ServiceMon-Fri: 8am - 9pm(ET)
Sat: 8am - 8pm (ET)
Sun: 8am-5pm (ET)
Mon-Sun: 8am - 11pm (ET)
ATMsApproximately 15,900 ATMs around the country.Over 39,000 no-fee Capital One & Allpoint ATMs
IRA CDStandard Term CD: 0.03% - 0.75% APY. Terms of 28 days to 10 years. Minimum deposit of $1,000. Featured CD: 0.07% - 1.60% APY. Terms of 12, 13, 25, and 37 months. Minimum deposit of $2,000.0.60% to 2.10% APY. Terms of 6 months to 5 years. 12-month CD APY of 2.10%.
Locations4600 retail financial centres around the country and brances in more than 40 other countries.
Online Only
 

CreditDonkey® Reviews

Savings
CD
Checking
Customer Service
Mobile App
Money Market
Pros & ConsPros:
  • National availability
  • Extended customer service hours
  • Full service bank
Cons:
  • No free checking option
  • Low interest rates
  • Many misc. banking fees
Pros:
  • Overdraft protection options
  • No account minimums
  • 27 Capital One cafes for in-person support
Cons:
  • Lower savings APY compared to other online banks
Bottom LineNational bank with widespread accessibility and wide range of services... Read full reviewGood online bank with access to in-person support... Read full review

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 12/06/2019 based on 91107 zip code.

Capital One: Pricing information from published website as of 12/07/2019.

Which is Better: Bank of America or Capital One?

Still need help deciding which bank is better? Read the in-depth reviews below. You may also be interested in comparing Bank of America or Chase.

In short: Capital One's checking is outstanding.


Articles on Bank of America


Articles on Capital One


Which Do You Think is Best?


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