Checking & savings
Personal and business checking and savings accounts, including interest-bearing and tiered options.
National bank
Banking, investing, and credit cards.
Bank of America is one of the largest financial institutions in the United States, providing personal banking, small business banking, credit cards, mortgages, auto loans, and investment services through Merrill.
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Key services
- Checking & savings✓
- Credit cards✓
- Merrill investing✓
- Home loans✓
- Auto loans✓
Branch, ATM & online
About Bank of America
A national bank with integrated banking and investment services.
Bank of America offers a wide range of consumer financial products including checking and savings accounts, credit cards, and lending products. Its Preferred Rewards program provides relationship-based benefits — such as reduced fees and higher interest rates — to customers who maintain qualifying balances across their Bank of America deposit accounts and Merrill investment accounts.
The Bank of America Mobile Banking app and online platform allow customers to transfer funds, pay bills, deposit checks, and access credit card and investment accounts in one place. Zelle transfers are available directly within the app.
Common uses
What Bank of America offers.
Bank of America covers several common financial needs in one place.
Credit cards
Bank of America credit cards include the Customized Cash Rewards, Unlimited Cash Rewards, and Travel Rewards cards.
Merrill investing
Investment accounts, IRAs, and wealth management through Merrill, which is part of Bank of America.
Home & auto loans
Mortgage origination, refinancing, home equity lines of credit, and auto financing.
Who is it for
Who banks with Bank of America.
Bank of America is well suited to customers who want a large nationwide bank with a broad ATM and branch network, those interested in linking banking and investing through the Preferred Rewards program, and small business owners looking for business banking alongside personal accounts.
Getting started
How to open a Bank of America account.
Go to bankofamerica.com or visit a local branch. Most personal accounts can be opened online. Have a government-issued ID and your Social Security number ready.
Select an account. The Advantage Banking account is the standard checking option and allows you to choose your preferred waiver method — minimum balance, direct deposit, or a monthly fee.
Fund the account via transfer from an external bank or check deposit. Some accounts require a minimum opening deposit.
Download the Bank of America Mobile Banking app to manage accounts, deposit checks, send money via Zelle, and monitor spending.
Common questions
Frequently asked questions about Bank of America.
What is Bank of America Preferred Rewards?
Preferred Rewards is a tiered program that offers benefits based on the combined monthly average balance in your Bank of America deposit and Merrill investment accounts. Higher tiers offer perks such as interest rate bonuses on savings, credit card bonus rewards, and reduced loan fees. Tiers include Gold, Platinum, Platinum Honors, Diamond, and Diamond Honors.
Does Bank of America offer Zelle?
Yes. Zelle is integrated into the Bank of America Mobile Banking app and online banking. You can send and receive money using a U.S. mobile phone number or email address. Transfers between Bank of America and other Zelle-participating banks typically arrive within minutes.
Can I open an account without a Social Security number?
Bank of America may accept an Individual Taxpayer Identification Number (ITIN) in place of a Social Security number for some account types. Requirements can vary by state and account type. Contact a local branch for current eligibility criteria.
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Information source: Bank of America's official U.S. website and product pages. Last verified June 2026.
US Living Tips is an independent directory and is not affiliated with or endorsed by Bank of America.