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US Bank vs Bank of America

US Bank is a big national bank with wide array of services and many account options. How does it compare to Bank of America? Read our comparison chart below.

US Bank has over 2,200 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.

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

 US Bank
Member FDIC
Bank of America
Member FDIC
 Visit SiteLearn More
 

US Bank

Bank of America

SPECIAL OFFER
U.S. Bank Smartly® Checking - Up to $400 Bonus - Learn More

Read US Bank Review

OFFER
Bank of America Advantage Banking - $300 Bonus Offer

Read Bank of America Review

 

Benefits and Features

Savings0.01% APY. Minimum deposit $25. Monthly maintenance fee $4, unless you have $300 minimum daily ledger balance, have a $1,000 average monthly collected balance, hold the account with an individual age 12 and under, OR open a U.S. Bank Smartly Checking account and enroll in the Smart Rewards® Primary tier or above.Bank of America Advantage Savings Standard Rate: 0.01% APY
CDStandard Term CD: 0.05% - 0.25% APY. Terms ranging from 1 month - 60 months. Minimum deposit of $500. Maximum deposit $250,000.
  • 7-Month CD - 4.35% APY
  • 10-Month CD - 4.00% APY
  • 13-Month CD - 3.25% APY
  • 25-Month CD - 2.00% APY
  • 37-Month CD - 0.05% APY
  • 1-Month CD - 0.03% APY
  • 120-Month CD - 0.03% APY
Checking
Smartly Checking
Check
Money Market0.01% - 0.25% APY, depending on amount. Minimum opening deposit $100. Monthly maintenance fee is $10 unless you open a U.S. Bank Smartly Checking account and enroll in the Smart Rewards® Primary tier or above, or maintain a $10,000 minimum daily balance. 
ATMsmore than 4,500 U.S. Bank ATMs across the country
Approximately 16,000+ ATMs
Customer Service24/7 Live Customer Service (Telephone)
  • Mon-Fri: 8am - 9pm (ET)
  • Sat: 8am - 8pm (ET)
  • Sun: 8am - 5pm (ET)
IRA CD 
Check
IRA Money MarketMinimum opening deposit of $100 or $25 automatic monthly deposit. No monthly maintenance fees. 
Locationsmore than 2,000 branches across the country
3,922 financial centers
 

CreditDonkey® Reviews

 US BankBank of America
SavingsStarStarStarEmpty StarEmpty StarStarStarEmpty StarEmpty StarEmpty Star
CDStarStarStarStarEmpty StarStarStarStarHalf StarEmpty Star
CheckingStarStarStarEmpty StarEmpty StarStarStarStarStarEmpty Star
Money MarketStarStarStarEmpty StarEmpty Star
Mobile AppStarStarStarStarHalf StarStarStarStarStarHalf Star
Customer ServiceStarStarStarStarHalf StarStarStarStarStarEmpty Star
Pros & ConsPros:
  • Promo CD with high APY
  • Free student account
  • 24/7 customer service
Cons:
  • Low savings APY
Pros:
  • Large branch network
  • Extended service hours
  • Full service banking
Cons:
  • Monthly fees
  • Low interest rates
  • Many misc. banking fees
Bottom LineBig national bank with wide array of services and many account options... Read full reviewNational bank with widespread accessibility and wide range of services... Read full review
 Visit SiteLearn More

    Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details.

    US Bank: Pricing information from published website as of 09/06/2024 based on 91107 zip code.

    Bank of America: Pricing information from published website as of 09/24/2024 based on 91107 zip code.

    US Bank
    Member FDIC

    U.S. Bank Smartly® Checking - Up to $400 Bonus

    Earn up to $400 when you open a new U.S. Bank Smartly® Checking account and complete qualifying activities. Subject to certain terms and limitations. Offer valid through October 31, 2024. Member FDIC.

    Earn up to $400 with a new Bank Smartly Checking account. Complete the following within 90 days of account opening:

    • Enroll in online banking or the U.S. Bank Mobile App
    • Make two or more direct deposit(s) totaling $3,000 to $4,999.99 to earn $200 or $5,000 or more to earn $400

    Fund your new account within 30 days to start qualifying activities. Offer may not be available if you are an existing U.S. Bank customer or live outside of the U.S. Bank footprint.

    Expires 10/31/2024
    US Bank
    Member FDIC

    Silver Business Checking account - $400 Bonus

    Promo code Q4AFL24 MUST be used when opening a U.S. Bank Silver, Platinum, or Business Essentials (Available in AZ, NV, CO, NM, OH, IN, KY and TN) Business Checking account. Limit of one Business Checking bonus per business. A $100 minimum deposit is required to open one of the referenced accounts.

    Earn your $400 Business Checking bonus by opening a new U.S. Bank Silver Business Checking or Business Essentials (not available in all markets) account between 10/1/2024 and 1/15/2025. You must make deposit(s) of at least $5,000 in new money within 30 days of account opening and thereafter maintain a daily balance of at least $5,000 until the 60th day after account opening.

    New money is considered money that is new to U.S. Bank. Funds must come from outside U.S Bank and cannot be transferred from another U.S. Bank product or a U.S. Bank Affiliate. Checking account fees (e.g., monthly maintenance, paper statement fee, etc.) could reduce the qualifying daily balance, therefore you must make deposit(s) to cover the fees to maintain the daily balance during the qualifying period to be awarded the bonus. Refer to the Business Pricing Information or Business Essentials® Pricing Information Document for a list of fees.

    The business checking bonus will be deposited into your new eligible U.S. Bank Business Checking account within 30 days following the last calendar day of the month you complete all of the offer requirements, as long as the account is open and has a positive available balance.

    Offer may not be combined with any other business checking account bonus offers. Existing customers (businesses) with a business checking account or customers (businesses) who had an account in the last 12 months, do not qualify.

    All regular account-opening procedures apply. For a comprehensive list of checking account pricing, terms and policies, reference your Business Pricing Information or Business Essentials® Pricing Information and YDAA disclosure. This document can be obtained by contacting a U.S. Bank branch or calling 800.872.2657.

    Bonus will be reported as interest earned on IRS Form 1099-INT and recipient is responsible for any applicable taxes. Current U.S. Bank employees are not eligible. U.S. Bank reserves the right to withdraw this offer at any time without notice. Member FDIC.

    Expires 1/15/2025
    US Bank
    Member FDIC

    Platinum Business Checking account - $900 Bonus

    Promo code Q4AFL24 MUST be used when opening a U.S. Bank Silver, Platinum, or Business Essentials (Available in AZ, NV, CO, NM, OH, IN, KY and TN) Business Checking account. Limit of one Business Checking bonus per business. A $100 minimum deposit is required to open one of the referenced accounts.

    Earn your $900 Business Checking bonus by opening a new U.S. Bank Platinum Business Checking account between 10/01/2024 and 1/15/2025. You must make deposit(s) of at least $30,000 in new money within 30 days of account opening and thereafter maintain a daily balance of at least $30,000 until the 60th day after account opening.

    New money is considered money that is new to U.S. Bank. Funds must come from outside U.S Bank and cannot be transferred from another U.S. Bank product or a U.S. Bank Affiliate. Checking account fees (e.g., monthly maintenance, paper statement fee, etc.) could reduce the qualifying daily balance, therefore you must make deposit(s) to cover the fees to maintain the daily balance during the qualifying period to be awarded the bonus. Refer to the Business Pricing Information or Business Essentials® Pricing Information Document for a list of fees.

    The business checking bonus will be deposited into your new eligible U.S. Bank Business Checking account within 30 days following the last calendar day of the month you complete all of the offer requirements, as long as the account is open and has a positive available balance.

    Offer may not be combined with any other business checking account bonus offers. Existing customers (businesses) with a business checking account or customers (businesses) who had an account in the last 12 months, do not qualify.

    All regular account-opening procedures apply. For a comprehensive list of checking account pricing, terms and policies, reference your Business Pricing Information or Business Essentials® Pricing Information and YDAA disclosure. This document can be obtained by contacting a U.S. Bank branch or calling 800.872.2657.

    Bonus will be reported as interest earned on IRS Form 1099-INT and recipient is responsible for any applicable taxes. Current U.S. Bank employees are not eligible. U.S. Bank reserves the right to withdraw this offer at any time without notice. Member FDIC.

    Expires 1/15/2025
    Bank of America
    Member FDIC

    Bank of America Advantage Banking - $300 Bonus Offer

    Expires 1/31/2025
    • The $300 bonus offer 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 01/31/2025.
    • To qualify, open a new eligible Bank of America Advantage Banking account through the promotional page and set up and receive Qualifying Direct Deposits* totaling $2,000 or more into that new eligible account within 90 days of account opening. Bank of America Advantage SafeBalance Banking® for Family Banking accounts are not eligible for this offer.
    • 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.
    • *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 12/31/2024
    • 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 12/31/2024.
    • 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

    Bank of America Advantage SafeBalance Banking®

    • Banking that helps you stay within your balance.
    • No monthly maintenance fee each statement cycle when you meet one of the following: an owner of this account is under the age of 25 or maintain a minimum daily balance of $500 in your account or are a member of Bank of America Preferred Rewards®.
    • Bank of America, N.A. Member FDIC.

    Which is Better: US 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 US Bank or Chase.

    In short: Bank of America's checking is noteworthy.


    Articles on US Bank

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    Who Owns US Bank

    U.S. Bank is owned by its multiple institutional and individual shareholders. If you're curious about its safety, read on to learn more.

    US Bank Silver Business Checking Minimum Balance

    Does U.S. Bank Silver Business Checking have a minimum balance? Nope! Sounds great, but see if it checks all your boxes.

    US Bank Silver Business Checking Fees

    Is U.S. Bank Silver Business Checking really free? Here are all the fees you need to know.

    US Bank Business Checking Requirements

    Opening a U.S. Bank business checking account can be fast and easy. Most allow online application and require fewer documents than other banks.

    US Bank Complaints

    U.S. Bank may be one of the best-established banks in the U.S. But it's not exactly problem-free. Here's what you may encounter.

    Chase vs US Bank Business Account

    U.S. Bank offers a free business checking account, while Chase offers more features. Which is better? Find out here.

    U.S. Bank Checking Account Bonus

    Get a bonus when you open a new account with U.S. Bank. Learn more about their bonuses to kick-start your banking journey.

    US Bank Business Checking Bonus

    Boost your business with a business checking bonus from U.S. Bank. Learn how to make the most out of this offer.

    US Bank Routing Number

    To transfer money in or out of your US Bank checking or savings account, you'll need the right routing number. Find your US Bank routing number below.

    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.

    Does Bank of America Have a 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.

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    CreditDonkey is a bank comparison website. We publish data-driven analysis to help you save money & make savvy decisions.

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