Wells Fargo vs Bank of America
Wells Fargo
Bank of America
Total Assets
$1.8 billion
Wells Fargo
$2.6 billion
Bank of America
Digital Banking
4.1/5
Wells Fargo
4.5/5
Bank of America
Customer Service
4.0/5
Wells Fargo
4.1/5
Bank of America
Best Savings Rate
0.03%
Wells Fargo
0.01%
Bank of America
Detailed Comparison
Checking Account Comparison
Wells Fargo Checking Accounts
| Account | Monthly Fee | Min Balance | Overdraft Fee |
|---|---|---|---|
| Wells Fargo Everyday Checking | $10 | $0 | $35 |
Bank of America Checking Accounts
| Account | Monthly Fee | Min Balance | Overdraft Fee |
|---|---|---|---|
| Advantage Plus Banking | $12 | $1,500 | $35 |
Savings Account Comparison
Wells Fargo Savings Accounts
| Account | APY | Type | Monthly Fee |
|---|---|---|---|
| Way2Save Savings | 0.03% | Savings | $3 |
Bank of America Savings Accounts
| Account | APY | Type | Monthly Fee |
|---|---|---|---|
| Advantage Savings | 0.01% | Regular | $8 |
APY Comparison
Annual Percentage Yield (APY) shows the effective annual yield accounting for compound interest. Higher APY means more earnings on your deposits. Rates are accurate as of 4/24/2025 and may change based on market conditions.
Credit Card Comparison
Wells Fargo Credit Cards
| Card | Annual Fee | APR Range | Rewards |
|---|---|---|---|
| Wells Fargo Cash Wise Visa Cash Back | No annual fee | 14.99% - 24.99% | 1.5% cashback |
Bank of America Credit Cards
| Card | Annual Fee | APR Range | Rewards |
|---|---|---|---|
| Customized Cash Rewards Cash Back | No annual fee | 15.99% - 25.99% | 3% cashback $200 cash back |
Mortgage Comparison
Wells Fargo Mortgage Products
| Mortgage Type | Interest Rate | APR | Term |
|---|---|---|---|
| 30-Year Fixed | 4.00% | 4.13% | 30 years |
Bank of America Mortgage Products
| Mortgage Type | Interest Rate | APR | Term |
|---|---|---|---|
| 30 Year Fixed | 6.30% | 6.45% | 30 years |
Rate Information
Mortgage rates are subject to change based on market conditions and individual financial profiles. APR includes the interest rate plus other costs such as origination fees, discount points, and other closing costs. Contact each lender for personalized quotes based on your specific situation.
Strengths and Weaknesses
Wells Fargo
Strengths
- Excellent digital banking experience
- Larger branch network
- Higher savings account rates
Weaknesses
- Higher fees compared to competitors
- Fewer ATM locations
Bank of America
Strengths
- Excellent digital banking experience
- Superior customer service
- More ATM locations
- More competitive fee structure
Weaknesses
- Smaller branch network
- Lower savings account rates
Which Bank is Right for You?
Choosing between Wells Fargo and Bank of America depends on your specific banking needs and preferences. Here's a quick guide to help you decide:
Choose Wells Fargo if you value:
- Access to more physical branch locations
- Higher interest rates on savings
Choose Bank of America if you value:
- Higher overall customer satisfaction
- Better digital banking experience
- Lower fees and account costs
- Wider ATM network
- More responsive customer service
Customer Profile Considerations
Wells Fargo might be better for:
- • Customers who prefer in-person banking
- • Savers looking for higher yields
- • Tech-savvy customers
Bank of America might be better for:
- • Fee-conscious customers
- • Tech-savvy customers
Ready to Open an Account?
Compare specific account options from these banks
Rate Comparison Tools
Use our comparison calculators to see which bank offers better returns on your deposits or lower costs on loans.
Compare RatesRead User Reviews
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