Bank of America review
Updated October 12, 2026 · SumCue Editorial Team
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Our verdict
Bank of America differs from card only providers by placing credit cards alongside banking, loans and Merrill investing and financial education. It suits households who want everyday money management, borrowing options and learning resources together in one ongoing financial relationship.
Key facts
- Best for
- Households wanting banking, cards, loans and investing together
- Rewards type
- Cashback↗
- Card kind
- Credit↗
- Regulators
- FDIC↗
- Legal entity
- Bank of America California, National Association↗
- Headquarters
- United States↗
- Support channels
- Phone, Help-centre↗
- Pricing model
- Commission-free
- Features
- Rewards
- Official website
- bankofamerica.com
Brokers
Pros and cons
Pros
- Combines banking, credit cards, loans and investing in one place
- Aims to improve financial lives by strengthening everyday connections
- Provides Better Money Habits resources that build financial know how
- Supports programmes intended to strengthen communities alongside individual goals
Cons
- Mobile banking does not extend to every device, so access varies
- App store privacy and security differ and need separate review
- Education centres on general money habits rather than personal guidance
Who it suits
- Households seeking everyday banking alongside cards and loans
- People interested in investing alongside banking relationships
- Individuals wanting financial education alongside accounts
Who should look elsewhere
- People needing mobile access on any device
Safety and regulation
Mobile access involves external app stores with their own privacy practices and security standards. Bank of America notes differences from its own protections and encourages careful review of those external policies. Messages used to share download links may involve carrier transmission, which adds another external step. Availability also depends on device compatibility because the app does not support every model. Understanding these boundaries helps households weigh convenience against separate privacy controls and limited support before relying on mobile banking for everyday account use.
How Bank of America compares
Where Bank of America is available
- Available
- United States
- Licence in United States
- FDIC (FDIC cert 25178), checked September 26, 2026
Countries from the brand (Source, checked September 26, 2026)
Frequently asked questions
What products does Bank of America cover?+
Bank of America covers banking, credit cards, loans and Merrill investing. The range brings everyday accounts together with borrowing and investment services under one provider. That breadth distinguishes it from issuers focused only on cards.
What aim guides Bank of America?+
Bank of America aims to improve financial lives by strengthening connections between people and their money. The idea links everyday banking with wider goals and community progress. Education and broader programmes reflect that broader direction.
What is Better Money Habits?+
Better Money Habits is an educational resource for building financial know how. It explores themes such as choosing between savings accounts and certificates of deposit and understanding new ways to save for a child. Real life money stories with guidance also feature.
Does mobile banking work on every device?+
The mobile app does not support every device, so compatibility varies by model. Some customers therefore rely on alternative mobile banking options outlined in support information. Reviewing supported devices in advance helps maintain steady access for everyday account management.
Which regulators oversee Bank of America?+
Bank of America is overseen by FDIC. (Source, checked September 26, 2026)
Which company operates Bank of America?+
Bank of America is operated by Bank of America California, National Association. (Source, checked September 26, 2026)
Where is Bank of America based?+
Bank of America is based in United States. (Source, checked September 26, 2026)
How can I contact Bank of America support?+
Bank of America offers support through Phone, Help-centre. (Source, checked September 26, 2026)
Sources
- banks.data.fdic.gov/bankfind-suite/bankfind/details/25178 checked September 26, 2026
Backs: Deposit protection, Headquarters, Investor protection, Legal entity, Regulators, Licences
“CERT=25178; NAME=Bank of America California, National Association; WEBADDR=www.bankofamerica.com; ACTIVE=1”
- 55brokers.com/merrill-edge-review checked September 26, 2026
Backs: Pricing model, Stock trade fee
“Merrill Edge does not charge commissions on online stock and ETF trades”
- retirementinvestments.com/investing/merrill-edge-review checked September 26, 2026
Backs: Options contract fee
“$0 per trade, $0.65 per-contract fee”
- bankofamerica.com/credit-cards/products/cash-back-credit-... checked September 26, 2026
Backs: Card kind, Features, Rewards type
- bankofamerica.com/deposits/savings/savings-accounts checked September 26, 2026
Backs: Account kind, Support channels
“Open a Bank of America Advantage Savings Account Online”
- bankofamerica.com/investing checked September 26, 2026
Backs: Account types, Management fee, Minimum investment, Portfolio types
“Traditional IRA, Roth IRA, Inherited IRA ... Individual & Joint Brokerage, Trust Account, Custodial Brokerage (UGMA/UTMA)”
- bankofamerica.com/mortgage checked September 26, 2026
Backs: Purpose
“Refinance your mortgage with our low refinance rates ... Information for first-time homebuyers ... Use my home's equity for a major expense”
- bankofamerica.com/mortgage/fixed-rate-mortgage-loans checked September 26, 2026
Backs: Fixed period, Maximum loan to value
“30-year fixed - With a fixed-rate mortgage, your monthly payment stays the same for the entire loan term”
- nerdwallet.com/reviews/investing/brokers/merrill-edge checked September 26, 2026
Backs: Minimum deposit
“Merrill Edge has no minimum account requirement”
Compiled from 9 source pages, checked October 13, 2026. We did not open an account.
Not confirmed yet: Annual fee, APR, Currency conversion fee.