I chose bank of america for its low interest rates and found myself to be pretty pleased with this company. Although the application process was a pain and could have been more efficient, I find that my savings account has worked very well for me regardless. The customer service is excellent as well- I have never been disappointed with bank of america in that regard. If I walk into a store or even call them, I feel valued and don't feel like another annoying phone call. I have been able to save money and not dish out all my savings to some company which is great. I feel that I can keep transferring from my checking into savings without having to worry about anything. I would recommend bank of america to anyone looking for a savings bank.
Product: Bank of America Savings & CDs
Monica Boska @mbosk
4 Star Rating
I opened this savings account over their regular one since the interest was higher. I simply auto transfer money monthly from my checking into my savings. Transferring money is a breeze. Since I already have my checking at Bank of a America, I can manually do it through the website or through the app. I have to say, i really do love the app and how easy it is to check my account. I get emails to remind me when my statements are made available. You can set up various alerts to let you know if you get a deposit, withdrawal, balance falls below a certain limit. You can really set up an alert for most anything!
I initially was unaware there was a fee with this account unless I tied it to my checking or maintained a balance so seeing that monthly fee pop up was shocking. I simply tied it to my checking so I don't have to worry about the fees anymore.
Interest rates are what are at this point at 3% you can't beat it. It's better than the 1% so I'll take the 3%.
i am using Bank of America from last 2 years, i feel its the one of the best Bank of USA b/c worldwide this bank given the business.i am using both type of account i mean Checking & Saving Account , I am felt that the Bank of americas customer service is horrible. So I eventually moved my funds to a credit union and I really couldn't be happier. No more fees and random problems. The savings account wasn't bad, except for the fees that is. But I really didn't want to have to deal with bank of americas horrible customer service. So I didn't bother staying with them.…
Product: Bank of America Savings & CDs
5 Star Rating
I have been with Bank of America for about 10 years now. Their savings account is easy to maintain a $300 min. balance. I also get the monthly maintenance fee waived by linking it with my checking accounts. For this I am happy. I also am enrolled in a "keep the change" program", which rounds each of my transactions in my checking account up to a whole number, and transfers the "loose change" into my savings account. This helps me inadvertently save money. Although it seems small, I invest a good amount into my savings via the program. I have never been charged a fee in my savings account, and have actually gotten some money back from BOA since they matched some of my Keep the Change money back when I opened the account. Until something goes wrong, I won't be going anywhere.
For a savings account Bank of America doesn't really offer much. I had heard bad things about bank of americas customer service, but I never had to deal with them personally. My main issue with this account is that, it is basically like any other savings account, except they charge ridiculous fees on top of it. I signed up with them off of brand name alone which was a big mistake. Once I realized just how much they charge you just to store your money there, I closed the account and moved the money to a free savings account. The fees are just too much and are completely unnecessary.
I've been using this savings account ever since I moved out on my own and had to choose my own bank separate from my parents. I'm pretty sure that I am not being charged a fee, so I very much appreciate that. The only minor complaint I have is that I wish they had been more clear when I first opened the account about the limit on transfers out of savings each month, but my understanding is that the limit is actual a government rule, not an institutional rule, so I understand it is not their obligation. Overall, my experience with Bank of America has been positive.
I used to use bank of america for checking and savings accounts. After all the monthly fees and surcharges I felt like I was being nickle and dimed every month. I had no major problems with the account, but Bank of americas customer service is horrible. So I eventually moved my funds to a credit union and I really couldn't be happier. No more fees and random problems. The savings account wasn't bad, except for the fees that is. But I really didn't want to have to deal with bank of americas horrible customer service. So I didn't bother staying with them.
This account does what it is supposed to do but I did not like the fees. $5 a month for this service is too much for what it offers. You can do this on your own by transferring a set amount every money manually to a savings account. I would not recommend this and I quit using it when I had it. The interest rate is low and I can’t economically understand why the fee is so high.
When I went of to college several years ago, I needed to have a savings account at a bank that had a branch nearby. I decided to go with Bank of America and I was at first rather pleased with the bank. The most appealing features that this bank offered to me, at the time, were low to no monthly fees depending upon my balance, and the option to enroll in their 'Keep the Change' program. The 'Keep the Change' program helped me save a little extra each month by rounding up any purchases I made using my debit card to the nearest dollar and depositing that money into my savings account each month. What was even better, was that for the first year they matched the amount each month! After graduating from college, when the low monthly fees disappeared I decided to close my savings account with Bank of America. If you are a student, or already have a checking or credit card account with Bank of America, this is a great savings account, but if you are not, there are certainly better options available elsewhere.
I opened my first saving account with Bank of America when I was 18 years old, I am now 31 and have stayed with them the entire time. There are aspects of my Bank of America experiences that have been very negative but out of all of them, the savings account has caused the least amount of headaches. I love that I get Keep The Change money put in there with each transaction. That money accrues quickly and I love that extra source of cash flow. There is one thing to look out for though that I just recently found out about. There is a certain type of savings account that charges you $12 monthly for having a balance lower than $1000. I cannot imagine how many times I was charged this fee, unaware that this stipulation was on my savings account (yes I now pay closer attention to my banking than I have in the past). When I brought up the charges with Bank of America they changed my account to the regular one. I don't know why that account stipulation even exists on a checking account?? There is literally no other difference between that type of account and the regular no-limit savings account. I just wanted to give a heads up about this to anyone who maybe doesn't pay super close attention to their account.
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