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Bank of America vs Raisin

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

 Bank of America
Member FDIC
Raisin
 Learn MoreVisit Site
 

Bank of America

Raisin

OFFER
Bank of America Advantage Banking - Up to $500 Cash Offer

Read Bank of America Review

SPECIAL OFFER
High-Yield Savings Account - $1,000 Bonus - Learn More

Read Raisin Review

 

Benefits and Features

SavingsBank of America Advantage Savings Standard Rate: 0.01% APY 
CD
  • 7-Month CD - 4.00% APY
  • 10-Month CD - Up to 3.75% APY
  • 13-Month CD - 2.75% APY
  • 25-Month CD - 2.00% APY
  • 37-Month CD - 0.11% APY
  • 1-Month CD - 0.03% APY
  • 120-Month CD - 0.03% APY
 
Checking
Check
 
Mobile App
iOS & Android
 
ATMs
Approximately 15,000+ ATMs
 
Customer Service
  • Monday -Friday: 8AM - 9PM ET
  • Saturday: 9AM - 6PM ET
  • Sunday: 8AM - 5PM ET
 
FAQ 
  • Where are my funds held? Your account is opened through Raisin, an online savings marketplace partnering with over 40 federally insured US banks and credit unions. However, your funds are held in a custodial account with the bank or credit union that is providing your savings account.
  • Are my deposits insured? Yes. all banks and credit unions on the Raisin platform is FDIC or NCUA insured. For each institution, your funds are insured up to $250,000 per depositor.
  • Are there any fees? No, there are no monthly service fees, account opening fees, or account closing fees.
  • How long do deposits and withdrawals take? All deposits and withdrawals are completed within one to three (1-3) business days.
  • How do I access my money? You have 24/7 online access. To withdraw money, just transfer it back to your linked bank account.
IRA CD
Check
 
Locations
3,700 financial centers
Online only
 

CreditDonkey® Reviews

 Bank of AmericaRaisin
SavingsStarStarEmpty StarEmpty StarEmpty StarStarStarStarStarStar
CDStarStarStarHalf StarEmpty StarStarStarStarStarStar
CheckingStarStarStarStarEmpty Star
Mobile AppStarStarStarStarHalf StarStarStarEmpty StarEmpty StarEmpty Star
Customer ServiceStarStarStarStarEmpty StarStarStarStarHalf StarEmpty Star
Money MarketStarStarStarStarStar
Pros & ConsPros:
  • Large branch network
  • Extended service hours
  • Full service banking
Cons:
  • Monthly fees
  • Low interest rates
  • Many misc. banking fees
Pros:
  • Multiple savings accounts in one place
  • No monthly fee
  • $1 minimum
Cons:
  • No checking accounts
  • Smaller banks & credit unions
Bottom LineNational bank with widespread accessibility and wide range of services... Read full reviewOnline savings platform offering some of the highest APYs in the nation... Read full review
 Learn MoreVisit 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 08/29/2025 based on 91107 zip code.

    Bank of America
    Member FDIC

    Bank of America Advantage Banking - Up to $500 Cash Offer

    Expires 1/31/2026
    • The cash offer up to $500 is an online only offer and must be opened through the Bank of America promotional page.
    • The offer is for new checking customers only.
    • Offer expires 1/31/2026.
    • To qualify, open a new eligible Bank of America Advantage Banking account through the promotional page and set up and receive Qualifying Direct Deposits* into that new eligible account within 90 days of account opening. Your cash bonus amount will be based on the total amount of your Qualifying Direct Deposits received in the first 90 days.
      Cash BonusTotal Qualifying Direct Deposits
      $100$2,000
      $300$5,000
      $500$10,000+
    • If all requirements are met 90 days after account opening, Bank of America will attempt to deposit your bonus into your new eligible account within 60 days.
    • Bank of America Advantage SafeBalance Banking® for Family Banking accounts are not eligible for this offer.
    • Additional terms and conditions apply. See offer page for more details.
    • *A Qualifying Direct Deposit is a direct deposit of regular monthly income – such as your salary, pension or Social Security benefits, which are made by your employer or other payer – using account and routing numbers that you provide to them.
    • Bank of America, N.A. Member FDIC.
    Bank of America
    Member FDIC

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

    Expires 12/31/2025
    • The $200 bonus offer is an online only offer and must be opened through the Bank of America promotional page.
    • The offer is for new eligible business checking customers only.
    • Offer expires 12/31/2025.
    • To qualify, deposit $5,000 or more in New Money* directly into a new eligible Bank of America Business Advantage Banking account within thirty (30) days of account opening.
    • Maintain an average balance of $5,000 in that new Business Advantage Banking account during the Maintenance Period**.
    • Once all requirements are met, Bank of America will attempt to pay bonus within 60 days.
    • Additional terms and conditions apply. See offer page for more details.
    • *New Money is new funds deposited into your business checking account that are not transfers from other Bank of America deposit accounts or Merrill investment accounts.
    • ** The Maintenance Period begins thirty-one (31) calendar days after account opening and ends ninety (90) calendar days after account opening.
    • Bank of America, N.A. Member FDIC
    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
    • Multiple ways to avoid the $29.95 monthly fee
    Raisin

    High-Yield Savings Account - $1,000 Bonus

    New customers only. Earn $1,000 for a minimum of $100,000 deposited on the Raisin platform within 14 days of your first deposit date and maintained over 90 days. To qualify for the bonus, the first deposit must be initiated by September 30, 2025, by 11:59 PM ET, and the customer must input code EASY at the time of sign-up.

    Expires 9/30/2025
    Raisin

    High-Yield Savings Account - $500 Bonus

    New customers only. Earn $500 for a minimum of $50,000 deposited on the Raisin platform within 14 days of your first deposit date and maintained over 90 days. To qualify for the bonus, the first deposit must be initiated by September 30, 2025, by 11:59 PM ET, and the customer must input code EASY at the time of sign-up.

    Expires 9/30/2025
    Raisin

    High-Yield Savings Account - $250 Bonus

    New customers only. Earn $250 for a minimum of $25,000 deposited on the Raisin platform within 14 days of your first deposit date and maintained over 90 days. To qualify for the bonus, the first deposit must be initiated by September 30, 2025, by 11:59 PM ET, and the customer must input code EASY at the time of sign-up.

    Expires 9/30/2025

    Which is Better: Bank of America or Raisin?

    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 mobile app is noteworthy. Raisin's savings and cd are impressive.


    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 Savings Account Interest Rate

    Bank of America's Advantage Savings has a standard APY way below the national average. Read on to find out more.

    Bank of America High Yield Savings

    Bank of America offers various banking products and services. But does it have a high-yield savings account? Find out here.

    Bank of America Problems

    Bank of America may be one of the biggest banks, but many customers find a lot of issues with their banking services. What are they? Keep reading.

    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 Raisin

    Is Raisin Safe and Legit

    Raisin offers great savings accounts with impressive APYs to boost your savings. But is it safe to use? Read on to find out.

    Raisin Review

    Unravel the truth about Raisin's safety and legitimacy in this review.

    Which Do You Think is Best?





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