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Discover what Bank of America customers are saying in 2024. We analyze thousands of reviews on service quality, fees, apps, and more to help you decide if it's right for you. Plus, tips for smarter banking and tools to track your finances effectively.
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Bank of America, one of the largest banks in the U.S. with over $3 trillion in assets and serving around 67 million customers, offers everything from checking and savings accounts to credit cards, mortgages, and investment services through Merrill Lynch. But what do real customers think in 2024?
We've sifted through thousands of recent reviews to bring you a data-driven analysis. Overall satisfaction hovers low at an average of 1.5/5 stars across major platforms, with common themes around fees, customer service, and digital tools. Yet, some praise its widespread branches and rewards programs. This guide breaks it down by service, highlights pros and cons, and shares actionable advice to improve your banking experience.
Whether you're considering switching or optimizing your current setup, read on for honest insights.
Here's a quick comparison of key Bank of America offerings based on 2024 customer feedback. Ratings are aggregated from user reviews (out of 5 stars), with key metrics like fees and app usability.
| Service | Avg. Rating | Monthly Fees | Key Pros | Key Cons | Best For |
|---|---|---|---|---|---|
| Checking Account | 1.8 | $4.95-$12 | Large ATM network (16,000+), Zelle integration | High overdraft fees ($35/incident), account freezes | Everyday transactions |
| Savings Account | 2.1 | $4.95-$8 | Competitive APY on higher tiers (up to 0.04%) | Low base interest, maintenance fees | Basic saving |
| Credit Cards | 1.9 | Varies | Rewards points (1-5% cashback), travel perks | High APR (15-25%), dispute delays | Rewards seekers |
| Mortgages | 1.4 | N/A | Fixed-rate options, jumbo loans | Closing delays (avg. 45-60 days), poor communication | Homebuyers with good credit |
| Mobile App | 2.3 | Free | Biometrics login, bill pay | Frequent glitches, slow fraud alerts | Tech-savvy users |
| Merrill Lynch Investing | 2.5 | $0 commissions | Robo-advisors, 24/7 support | High minimums for advisors ($250k) | Long-term investors |
Data sourced from 2024 customer reviews; fees accurate as of Q3 2024.
See the WEMATE Budget Planner 2026 to monitor fees and build better habits.
Tip: Opt for fee-waiver accounts and set up alerts. For better tracking, try the Heveboik Income & Expense Log Book to log every transaction manually.
Bank of America's cards like Customized Cash Rewards offer 3% cashback in a chosen category, but reviews average 1.9/5. Users love signup bonuses ($200 after $1,000 spend), but gripe about approval denials (despite good credit) and slow rewards redemption.
Pros:
Cons:
If cards frustrate you, focus on budgeting first with WEMATE Budget Planner 2026.
Mortgage satisfaction is the lowest at 1.4/5. Borrowers note competitive rates (around 6.5% for 30-year fixed in 2024), but closing processes drag with poor updates—average complaints: 22% on communication.
Actionable Advice: Document everything and shop rates. Pair with solid expense tracking using the Heveboik Income & Expense Log Book.
The app gets 2.3/5 for usability—praised for quick balances but slammed for crashes during peak times and delayed notifications. Phone support wait times average 25 minutes, with 35% of reviews calling it 'unhelpful'.
Improvement Tip: Use app backups like physical ledgers: WEMATE Budget Planner 2026.
Merrill Edge shines brighter at 2.5/5, with zero-commission trades and solid research tools. However, wealth management requires high assets, alienating smaller investors.
Pro Tip: Start small and track performance manually.
Bank of America suits those needing physical branches and robust networks, but watch for fees and service hiccups. Score: 2.0/5 overall. For small businesses or individuals, consider alternatives in our Best Business Services Companies of 2026.
Build independence with tools like the Heveboik Income & Expense Log Book—perfect for spotting fee patterns.
It depends—strong for convenience but weak on fees and support. Average rating: 1.5-2.5/5 across services.
Fees (30%), poor customer service (25%), app glitches (20%), and fraud handling delays.
Checking/savings: $5-12/month; overdrafts: $35. Waivable with balances/deposits.
Mixed—good for basics (3.5M downloads), but frequent bugs reported by 40% of users.
If fees or service bother you, yes. Track finances first with WEMATE Budget Planner 2026.
Better than core banking at 2.5/5, great for commission-free trades but high barriers for advice.
