Charles Schwab Bank vs Bank of America

Charles Schwab Bank is a popular brokerage with a free checking account that refunds ATM fees. How does it compare to Bank of America? Read our comparison chart below.

Charles Schwab Bank offers an Investor Checking account with unlimited ATM fee reimbursements worldwide and no foreign transaction fees. No minimum to open and no service fee. It is tied to a brokerage account but you don't have to use it.

While 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.

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

	Charles Schwab Bank	Bank of America
	SPECIAL OFFER High Yield Investor Checking – Unlimited ATM Rebates - Learn More Read Charles Schwab Bank Review	SPECIAL OFFER Bank of America Advantage Plus Banking® - $100 Bonus Offer - Learn More Read Bank of America Review
	Benefits and Features
Savings	0.48% APY
CD	Offers brokered CDs from other banks. Terms range from 1 month to 20 years. Minimum deposit of $1,000.
Checking	0.45% APY, $0.01 account minimum
Customer Service	24/7 Live Customer Service (Telephone and Chat)	Mon-Fri: 8am - 9pm (ET) Sat: 8am - 8pm (ET) Sun: 8am - 5pm (ET)
ATMs	Unlimited ATM fee rebates when used with ATMs with the Visa, Interlink logo. Available worldwide.	Approximately 16,000+ ATMs
IRA CD
Locations	345 branches across the country. You may also open an account online.	Approximately 3,800+ retail financial centers
	CreditDonkey® Reviews
Savings
Checking
Customer Service
Mobile App
CD
Pros & Cons	Pros: No account minimum No service fees Refund all ATM fees Cons: Only checking or savings Must do banking online	Pros: Large branch network Extended customer service hours Full service banking Cons: Monthly service fee Low interest rates Many miscellaneous banking fees
Bottom Line	Popular brokerage with a free checking account that refunds ATM fees... Read full review	National bank with widespread accessibility and wide range of services... Read full review
	High Yield Investor Checking – Unlimited ATM Rebates	Bank of America Advantage Plus Banking® - $100 Bonus Offer Bank of America Advantage Relationship Banking® - $100 Bonus Offer Bank of America Advantage SafeBalance Banking® - $100 Bonus Offer
Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details. Charles Schwab Bank: Pricing information from published website as of 03/23/2023. Bank of America: Pricing information from published website as of 5/15/2023 based on 91107 zip code.

Which is Better: Charles Schwab Bank or Bank of America?

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

In short: Charles Schwab Bank's savings and checking are notable.

Articles on Charles Schwab Bank

Charles Schwab Bank Review

Charles Schwab is more than a brokerage. It also offers high yield checking and savings interest rates that might far surpass your local bank. Read on to learn the pros and cons.

• Charles Schwab Bank vs Chase

Charles Schwab Routing Number

You'll need the right routing number to transfer money in or out of your Charles Schwab bank account. Find yours and learn more about money transfers in our guide.

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 vs Citibank
• Bank of America vs US Bank
• Bank of America vs Discover Bank

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.

Which Do You Think is Best?

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