Western Alliance Bank vs Bank of America
Western Alliance Bank is a solid bank that offers high APY savings products with a fully digital experience. How does it compare to Bank of America? Read our comparison chart below.
Western Alliance Bank offers high-yield savings products and CD accounts.
While Bank of America is one of the largest banks in the U.S. with approximately 3,700 locations and 15,000 ATMs. It is known for good customer service with extended hours. It offers checking, savings, CDs, IRA, and investment accounts through Merrill Edge.
Compare Western Alliance Bank with Bank of America, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.
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| Visit Site | Learn More | |
Western Alliance Bank | Bank of America | |
|---|---|---|
High-Yield Savings Premier - 3.80% APY | Bank of America Advantage Banking - Up to $500 Cash Offer | |
Benefits and Features | ||
| Savings | High-Yield Savings Premier: 3.80% APY | Bank of America Advantage Savings Standard Rate: 0.01% APY |
| CD | Up to 4.00%; 3-12 month term CDs. $1 minimum deposit. |
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| Checking | Personal Checking, Personal Interest Checking |  |
| Mobile App | ||
| ATMs | ||
| Customer Service |
| |
| IRA CD | | |
| Locations | ||
CreditDonkey® Reviews | ||
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| Savings |  |  |
| CD | |  |
| Fees | | |
| Mobile App | | |
| Customer Service | | |
| Checking | | |
| Pros & Cons | Pros:
| Pros:
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| Bottom Line | Solid bank that offers high APY savings products with a fully digital experience... | National bank with widespread accessibility and wide range of services... |
| Visit Site | Learn More | |
Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details. Western Alliance Bank: Information sourced from the published website as of 02/05/2026. Bank of America: Pricing information from published website as of 02/03/2026 based on 91107 zip code. | ||
High-Yield Savings Premier - 3.80% APY
- No account fees
- Option to open individual or joint account
- FDIC insured up to $250,000 per depositor
- Only $500 minimum opening deposit
High Yield Savings Account - 3.80% APY
- No fees
- $1 minimum deposit
- 24/7 online access
- FDIC insured
High-Yield CD Rates - Up to 4.00% APY
- No fees
- $1 minimum deposit
- FDIC insured
| Term | CD Rates |
|---|---|
| 3 Month | 4.00% APY |
| 4 Month | 3.50% APY |
| 5 Month | 3.40% APY |
| 6 Month | 3.50% APY |
| 9 Month | 3.40% APY |
| 12 Month | 3.30% APY |
Bank of America Advantage Banking - Up to $500 Cash Offer
- 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 05/31/2026.
- 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 Bonus Total 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® Business Advantage Banking - $400 or $750 Cash Bonus Offer
- The $400 or $750 cash 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 12/31/2026.
- To qualify, a new Business Advantage Relationship Banking or Business Advantage Fundamentals™ Banking account through the promotional page and deposit New Money* directly into that new eligible account within thirty (30) days of account opening (“Deposit Period”). At the
end of the Deposit Period, all New Money deposits made directly into new eligible Business Advantage Banking account will be totaled to determine which Balance Requirement you have met and which corresponding Cash Bonus Tier you
are eligible for.
Balance Requirement Cash Bonus Tier $5,000 $400 $15,000 $750 - Maintain a daily balance in that new Business Advantage Banking account that meets the applicable Balance Requirement during the Maintenance Period**
- After you satisfy all of the requirements, Bank of America will attempt to deposit your earned bonus directly into your new eligible Bank of America Business Advantage Banking account within 60 days.
- Additional terms and conditions apply. See offer page for more details.
- *New Money is new funds deposited into your Business Advantage Banking account that are not transfers from other Bank of America 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
Business Advantage Relationship Banking
- Best for businesses with the need for extra accounts and robust banking needs.
- No fee for incoming wire, stop payment, electronic deposits and more.
- No fee for first 500 transactions per statement cycle.
- No fee for the first $20,000 in cash deposited per statement cycle at an ATM or Financial Center.
- Bank of America, N.A. Member FDIC
Which is Better: Western Alliance 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 Western Alliance Bank or CIT Bank.
In short: Western Alliance Bank's savings and cd are outstanding. Bank of America's mobile app and customer service are noteworthy.
Articles on Western Alliance Bank
Western Alliance Bank Review
Western Alliance Bank offers savings products with competitive APYs for people looking to grow their money. Is there a catch? Read on to find out.
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 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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