How many boa customers are there

The number of Erica users has already reached 2 million. Traditional banks are under pressure from Silicon Valley to innovate. Related: Are Apple, Amazon and Facebook the future of banking? Shutting branches allows traditional banks to cut costs. It's not just Bank of America shrinking its branch network. Wells Fargo still has 5, branches, but the bank shut more than branches last year. In January, Wells Fargo announced plans to pull the plug on another locations by The bank also agreed in June to sell all of its branches in Indiana, Michigan and Ohio.

Measure content performance. Develop and improve products. List of Partners vendors. The oldest parts of Bank of America date back years. With the merger of BankAmerica and NationsBank in , it became the first coast-to-coast bank in the U. It is now a global financial services company that serves one out of every two households in America.

Bank of America serves approximately 66 million consumer and small business clients through its 4, branches. It is number one in consumer deposit market share in the U. This in-depth review of the retail banking giant can help you decide if its deposit accounts are right for you.

Bank of America is best for customers who value ease of access over higher interest rates. It may be particularly good for customers who want to:. Preferred Rewards members get their monthly fees waived on all three checking accounts. These fees are not waived or reimbursed with your Bank of America checking account.

It rounds up your purchases to the next dollar and transfers that amount to your savings account. Customers have one savings account option: Bank of America Advantage Savings. This account provides tiered interest rates that grow with your relationship with the bank. New accounts receive a waiver of the monthly fee for the first six months. Students who are enrolled in school and are under the age of 24 may also qualify for a waiver.

Standard CDs are available at terms ranging from one month to 10 years, with annual percentage yields APYs from 0. They have fewer term options, but customers can lock in a higher promotional APY. Unless specifically noted, all CDs renew at the end of their term. Customers have a grace period of up to seven days after maturity, depending on the term of the CD, to cancel the renewal and withdraw without penalty.

The bank does charge an early withdrawal penalty if you close the CD before its maturity date. Penalties vary depending on the term of the CD. Bank of America has numerous credit cards that earn cash back, travel rewards, or support charitable causes.

Some credit cards earn higher rewards when you are enrolled in Preferred Rewards and maintain a larger relationship with the bank. The bank also offers exclusive deals when you use your debit or credit card to make purchases at participating retailers. Bank of America also has a wide variety of other banking, lending, and investment accounts to meet your needs.

Customers can connect with Bank of America customer service in three ways: in person, over the phone, or online. Phone support is available from 8 a. EST Monday through Friday and 8 a. You have money questions. Bankrate has answers.

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In the years since the Great Recession, the largest banks in the U. Of course, every year there are changes to this exclusive club. Larger banks trade places with one another and smaller banks drop out, replaced by faster-growing rivals.

Here are the 15 largest banks in the U. Unlike some of its competitors that are closing branches, Chase is expanding its branch network in key markets.

It currently has nearly 5, branches and 16, ATMs. Bank of America serves about 66 million consumers and small business clients worldwide. Like many of the biggest banks, Bank of America is known for digital innovation. It has more than 37 million digital clients and is experiencing success after introducing its virtual assistant, Erica, that assists account holders with various tasks.

Wells Fargo was founded in Although the bank has focused on consolidating and eliminating branches, it still has the most branches of any bank in the country. In addition to its main app, Wells Fargo has introduced a savings app and a mobile banking app geared toward millennials.

The bank has rebranded and is focusing on repairing its fractured relationship with customers after a series of missteps. Headquarters: San Francisco. Citigroup is a global financial services corporation. Citibank has about branches in the U. Bancorp is the bank holding company and parent company of U. Multiple mergers led to the formation of the bank known today for its extensive branch network and investment in improving its digital offerings.