Bank Of America Boston: Everything You Should Know

Bank Of America Boston

Do you want to know about Bank of America Boston? If yes, please read the complete article at the end to get the full information. Bank of America is one of the oldest banks in the world and the USA, dating back 240 years ago.

The Bank of America was re-formed when it was merged with National Bank in 1998. As a result, the Bank of America Boston was the first coast-to-coast bank of America.

Currently, bank of America has served 66million customers, and in their 4300 branches, they have served a considerable number of Business clients. In the consumer deposit market, it is number one in the US. Along with it, this is the number one small business lender.

Company Overview Of Bank Of America Boston As Per Experts

Bank Of America Boston - Company Overview

Official Website
Inception Year  1998
Banking Products Offered  Credit Cards, CDs, Checkings and Savings 
Customer services you will receive  You will receive customer services from 8 am-11 pm Monday to Friday and Saturday to Sunday 8 am to 8 pm

This is a brief overview of the bank of America Boston. But, most importantly, you will receive better returns from your investment if you select a suitable scheme for your business.

What Is Bank Of America Best For?

The bank of America is best for providing ease of access for those customers who want higher rates of Interest. It is suitable for those customers who want to get:-

  • You will be able to bank in for a person.
  • Ease of access to the Bank ATM will be possible.
  • You can earn additional discounts and rewards with relationship pricing.
  • You can open a savings and checking account with a low opening deposit.
  • It is an established bank that comprises various deposits and lending products.

What Services Bank Of America Boston Offers To Its Clients?

Bank Of America Boston - Services

The Bank of America offers several kinds of services to its clients. Some of the best services of Bank Of America Boston are as follows:-

1. Checking Accounts

The Bank of America Boston Offers three Checking accounts that can be opened with $100 or less in most cases. There are three ways Bank Of America will provide you with quality checking account services.

  • Advantage Plus

The advantage plus plan of Bank of America is a daily checking account where $12 regular monthly fees can be raised when you qualifying a direct deposit of $250. More than $250 you can maintain by depositing $1500 minimum daily.

  • Advantage Safe balance

The advantage safe balance allows checkless accounts with the help of a debit card. It will help the customers to stay within their balance. If you are a student, then a monthly fee of $4.95 is waived if your age is below 24 years. You do not have to pay the overdraft fees here.

  • Advantage Relationship

The advantage relationship helps you to earn interest on your balances. In addition, it waives the fees for making the additional checking and balance account. For example, in your eligible linked account, when you maintain a combined balance of $10,000, you can waive an interest of $25 monthly fee.

2. Savings Accounts

Customers will have various saving account options. In addition, this account provides the tiered interest, which will grow with the relationship with the bank.

You need to make a minimum deposit of $100 to open an account in Bank. You have to pay $8 a monthly fee with an opportunity to earn various monthly yields. Some of the yield opportunities are as follows:-

  • In the standard Yield return, you can earn 0.01%.
  • You can earn a 0.02% yield on the Gold Return scheme.
  • You can earn a rate of 0.03% platinum.
  • Platinum Honor scheme can provide you 0.05% return on your yield of savings account.

3. Current Deposits Account 

You can earn standard term CDs from the Bank of America Boston with a $1000 minimum deposit account.

Standard CDs are available in the mode ranging from one month to ten years. The annual percentage yield you can get from this account is between 0.03% to 0.05%.

On the other hand, if you want to earn more yield from your return, you can earn from featured CDs and Promotional CDs where you have to make a minimum deposit of $10,000. You will get fewer term options for the APY’s.

4. Credit Cards

Bank Of America offers numerous credit cards which provide several cash-backs, support charitable causes and offer travel rewards. In addition, there are some credit cards available with the Bank Of America, which allows you to earn maximum credit rewards.

You Can earn 75% of more rewards on various purchases. In addition, Bank Of America provides different Customized Rewards for visas.

Popular Cashback Credit Cards Of Bank Of America are as follows:-

  • Bank of America Customized Cash rewards.
  • Cash Reward Cards For Students.
  • Customized Cash Reward Secured Cards.
  • Bank Of America Premium Rewards.
  • MLB.
  • US Pride.
  • World Wildlife Fund.

Apart from the Cashback credit cards Bank of America also provides Travel Reward Credit Cards. So you can get maximum exposure from it. To travel all around the world.

5. Other Financial Products

Apart from the mainstream services, Bank Of America Boston also offers certain crucial other services that can help you get rid of any kind of financial crisis. Some of them are as follows:-

  • You can purchase mortgages.
  • Auto Loans.
  • You Can Refinance The Mortgages.
  • BOA also provides Home Equity Lines of Credit.
  • You can also open your retirement accounts.
  • It offers Self Directed trading opportunities.
  • Financial Advisors.
  • Private Banking.
  • You can also get Business loans.

Pros & Cons Of Bank Of America Services

Some of the crucial Pros and Cons Of Bank Of America you must know before you make your investment decisions in it. Of course, you have to understand the facts before making your investments in any Bank.

Pros Of Bank Of America  Cons Of Bank Of America 
1. Unparalleled access to around 4300 branches across 17000 ATM’s  1. High Yield savings account options are not there. 
2. You have to pay low minimum deposits to open your savings or Check accounts.  2. You cannot waive or reimburse the ATM fees 
3. Also, you can earn higher rates on lending discounts for getting the preferred rewards.  3. You will Get the Non-co-operative certificates rates. 

Final Take Away

Hence, if you want to know more about the Bank Of America Boston, you have to follow the mentioned points to get the maximum returns. In addition, you have to understand the ways of earning more yield from your investments.

You can share your experiences and opinions in the Bank of America Boston comment box. There may be certain things that I may miss out on in my article, but you can feel free to share your comments so that I can prepare better informative content the next time.

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