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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 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 US Bank has 3,000 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

US Bank

SPECIAL OFFER
Business Advantage - $450 Bonus - Learn More

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US Bank Checking Account Bonus - Learn More

Read US Bank Review

 

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 $100.0.01% APY. Minimum deposit $25. Monthly maintenance fee $4, unless you have $300 minimum daily ledger balance OR $1,000 average monthly collected balance.
CDStandard Term CD: 0.03% - 0.75% APY. Terms of 28 days to 10 years. Minimum deposit of $1,000. Featured CD: 0.07% - 1.80% APY. Terms of 12, 13, 25, and 37 months. Minimum deposit of $10,000.Standard Term CD: 0.05% - 0.75% APY. Terms ranging from 1 month - 60 months. Minimum deposit of $500. Maximum deposit $249,999. CD Special: 2.00% - 2.30% APY. Terms of 9, 17, 37 and 59 months. Minimum deposit of $1,000. Maximum deposit $249,999
Money Market 0.03% - 0.06% APY, depending on amount. Minimum opening deposit $100. Monthly maintenance fee $10 unless you have $10,000 minimum daily ledger balance.
Customer ServiceMon-Fri: 8am - 11pm(ET)
Sat-Sun: 8am - 8pm (ET)
24/7 Live Customer Service (Telephone)
ATMsApproximately 15,900 ATMs around the country.More than 4,700 ATMs across the country
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% - 1.80% APY. Terms of 12, 13, 25, and 37 months. Minimum deposit of $2,000. 
IRA Money Market Minimum opening deposit of $100 or $25 automatic monthly deposit. No monthly maintenance fees.
Locations4600 retail financial centres around the country and brances in more than 40 other countries.More than 3000 branches across the country.
 

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:
  • Promo CD with high APY
  • Free student account
  • 24/7 customer service
Cons:
  • High minimums to waive fees
  • 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

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 7/17/2019 based on 91107 zip code.

US Bank: Pricing information from published website as of 07/17/2019 based on 91107 zip code.

Which is Better: Bank of America or US Bank?

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: US Bank's cd is notable.


Articles on Bank of America


Articles on US Bank

    US Bank Review

    U.S. Bank is the country's fifth largest bank, but does that make them a bank that will suit your banking needs? Do you need one of the country's largest banks or is a smaller bank more your style?

Which Do You Think is Best?

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