Bank of America is one of the biggest banks in the United States with more than 5,000 branches and 16,000 ATMs. They are well known for their customer service and extended hours. Additionally, Bank of America also has many different accounts to offer with Merrill Edge.
Meanwhile, Capital One has competitive rates for their savings account. With their interest checking, there are a few overdraft choices in accidental overdraw. Plus, there aren’t any minimum deposit requirements or service charges.
Read below for more information comparing Bank of America and Capital One.
| BONUS LINK | OFFER | REVIEW |
| Huntington Bank Unlimited Plus Business Checking | $1,000 Cash | Review |
| Huntington Bank Unlimited Business Checking | $400 Cash | Review |
| Huntington Bank Business Checking 100 | $100 Cash | Review |
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| Bank of America | Capital One | |
| Locations | Nearly 5,000 branches
(Locator) |
Nearly 755 branches
(Locator) |
| ATMs | Over 16,000 ATMs | About 2,000 ATMs |
| Savings | 3/5 | 3.2/5 |
| CD | 2/5 | — |
| Checking | 2.3/5 | 5/5 |
| Money Market | — | 4/5 |
| Customer Service | 4/5 | 4.2/5 |
| Mobile App | 4.3/5 | 4.2/5 |
| Pros | -National availability -Extended customer service hours -Full Service bank |
-Overdraft protection options -No account minimum -27 Capital One cafes for in-person support |
| Cons | -No free checking
-Low interest rates -Many misc. banking fees |
-Low savings APY |
| Bottom Line | Bank of America has great nationwide accessibility and services. | BMO Harris Bank has excellent checking accounts and financial tools. |
Comparing Both Banks
Bank of America is available nationwide and has user-friendly online banking. However, they are better at offering customer services and financial tools. Capital One has excellent accounts and utensils for their clients as well.
Additionally, Bank of America has low interest rates and comes with fees that can’t always be waived. With Capital One, they offer more competitive rates for specific accounts and little to no fees that can be waived.
Different Bank Accounts
Like all banks, Capital One has many different accounts to choose from. However, their savings accounts will offer you a competitive rate. There are two current bonuses that they have to offer as well. Normally, these accounts don’t come with a minimum deposit or service charge either.
With Bank of America, they only offer one checking account with 3 different settings. This way, if something changes financially for you, just change the setting to what works best. These settings are: Advantage SafeBalance, Advantage Plus Banking, & Advantage Relationship Banking. Each setting will come with different features and perks.
Conclusion
Now, with this bank guide, you’ll be able to see which bank is better for you. Overall, when you open a new bank account with any bank, it’s best to do some digging before you settle. Plus, there are several features and benefits that come with each account. However, Capital One seems to have more to offer when it comes to rates and account perks.
