Is Chase or Bank of America better?

Chase is generally better for credit card rewards, branch access (4,700+ branches), and customer experience. Bank of America is better for the Preferred Rewards program (up to 75% credit card bonus), Merrill Edge investing integration, and customers who maintain higher balances. Both are FDIC-insured and charge similar fees.

Which bank has lower fees, Chase or Bank of America?

Fees are similar. Chase charges $12/month for Total Checking (waived with $1,500 balance or $500 direct deposit). Bank of America charges $12/month for Advantage SafePass (waived with $1,500 balance or $250 direct deposit). BofA has a slightly lower threshold to waive the fee.

Which bank has more ATMs and branches?

Chase has more branches (4,700+ vs 3,800+) while Bank of America has more ATMs (16,000+ vs 15,000+). Both networks cover all 50 states. Chase has stronger presence in the Midwest and Southwest; BofA is stronger in the Southeast and West Coast.

Chase vs Bank of America: Complete Comparison (2026)

Chase and Bank of America are the two largest retail banks in America, with a combined 8,500+ branches and millions of customers. They offer similar products at similar prices — but the details matter depending on how you bank. Here’s the full comparison.

Chase vs Bank of America: Quick Comparison

Feature	Chase	Bank of America
Total assets	$3.9 trillion	$3.3 trillion
Branches	4,700+	3,800+
ATMs	15,000+	16,000+
Savings APY	0.01%	0.04%
Checking monthly fee	$12	$12
Fee waiver (direct deposit)	$500+/month	$250+/month
Fee waiver (balance)	$1,500	$1,500
Overdraft fee	$34	$10
Out-of-network ATM	$3.50	$2.50
Mobile app rating	4.8/5 (iOS)	4.7/5 (iOS)
Credit card ecosystem	Excellent	Good (better with Preferred Rewards)
Investing platform	J.P. Morgan Self-Directed	Merrill Edge
FDIC insured	Yes ($250,000)	Yes ($250,000)

Checking Accounts

Chase Checking Options

Account	Monthly Fee	How to Waive	Key Features
Total Checking	$12	$500 DD or $1,500 balance	Standard checking, Zelle, bill pay
Secure Banking	$4.95	Cannot be waived	No overdraft, no checks, basic
Premier Plus	$25	$15,000 combined balance	Higher limits, no ATM fees (Chase)
Sapphire	$25	$75,000 combined balance	Premium benefits, no wire fees

Bank of America Checking Options

Account	Monthly Fee	How to Waive	Key Features
Advantage SafePass	$12	$250 DD or $1,500 balance	No checks, no overdraft
Advantage Plus	$12	$250 DD or $1,500 balance	Standard checking with checks
Advantage Relationship	$25	$20,000 balance or Merrill investing	Premium benefits, preferred rates

Checking Comparison

Feature	Chase Total Checking	BofA Advantage Plus
Monthly fee	$12	$12
Minimum to waive (DD)	$500/month	$250/month
Minimum to waive (balance)	$1,500	$1,500
Overdraft fee	$34	$10
Overdraft protection transfer fee	$0	$0
NSF fee	$34	$10
Cashier’s check	$8	$10
Stop payment	$30	$30
Wire (domestic outgoing)	$25	$30
Early account closure	$0-$25	$25 (within 90 days)

Winner: Bank of America — lower direct deposit threshold to waive fees ($250 vs $500) and significantly lower overdraft fee ($10 vs $34).

Savings Accounts

Feature	Chase Savings	BofA Advantage Savings
APY	0.01%	0.04%
Monthly fee	$5	$8
Waive fee (balance)	$300	$500
Waive fee (linked checking)	Yes (automatic transfers)	Yes (with Advantage Banking)
Minimum to open	$0	$100

What Your Savings Actually Earn

Balance	Chase (0.01%)	BofA (0.04%)	Ally Online (4.50%)
$1,000	$0.10/yr	$0.40/yr	$45.00/yr
$5,000	$0.50/yr	$2.00/yr	$225.00/yr
$10,000	$1.00/yr	$4.00/yr	$450.00/yr
$25,000	$2.50/yr	$10.00/yr	$1,125.00/yr

Winner: Neither — both pay virtually nothing. Move savings to an online bank earning 4.50%+ APY. Use Chase or BofA only for checking, branch access, and credit cards.

CD Rates

Standard CD Rates (March 2026)

Term	Chase	Bank of America	Online Bank Average
3-month	0.02%	0.03%	4.50%
6-month	0.02%	0.03%	4.60%
12-month	0.01%	0.03%	4.75%
24-month	0.01%	0.03%	4.25%
60-month	0.01%	0.03%	4.00%

Winner: Neither — both offer below-market CD rates. Use online banks or credit unions for CDs.

Fees Comparison

Fee	Chase	Bank of America
Checking monthly	$12	$12
Savings monthly	$5	$8
Overdraft	$34	$10
Out-of-network ATM	$3.50	$2.50
Foreign transaction (debit)	3%	3%
Incoming wire (domestic)	$0	$15
Outgoing wire (domestic)	$25	$30
Outgoing wire (international)	$40-$50	$45
Cashier’s check	$8	$10
Money order	$5	$5
Paper statement	$0	$0
Replacement debit card	$5	$5
Counter check (per page)	$8	$10

Estimated Annual Fees (Typical Customer)

Scenario	Chase	Bank of America
Fee waived (meets requirements)	$0	$0
Fee not waived + 2 overdrafts/yr	$212	$164
Fee not waived + ATM fees (4x/mo)	$312	$264

Winner: Bank of America — lower overdraft and ATM fees result in meaningful savings if you can’t waive monthly fees.

Credit Cards

Chase Credit Cards

Card	Annual Fee	Top Rewards	Best For
Freedom Unlimited	$0	1.5% everything, 3% dining/drugstores	Everyday spending
Freedom Flex	$0	5% rotating quarterly categories	Category spenders
Sapphire Preferred	$95	3x dining/streaming, 2x travel	Travel rewards
Sapphire Reserve	$550	3x dining/travel, $300 travel credit	Premium travel

Bank of America Credit Cards

Card	Annual Fee	Top Rewards	Best For
Customized Cash	$0	3% in choice category, 2% grocery	Flexible cashback
Unlimited Cash	$0	1.5% everything	Simple cashback
Premium Rewards	$95	2x travel/dining, $100 airline credit	Travel with PR bonus
Premium Rewards Elite	$550	2x everything, $150 airline credit	High spenders with PR

Credit Card Ecosystem Comparison

Factor	Chase	Bank of America
Transfer partners	14+ airlines/hotels	None
Points value (redemption)	1.25-1.5¢ (travel portal)	1¢ (cash back)
Category flexibility	Fixed categories	Choose your 3% category
Sign-up bonuses	Generally larger	Moderate
Loyalty bonus program	No tiered bonus	Preferred Rewards: up to 75% bonus
Best no-AF combo	Freedom Flex + Unlimited	Customized Cash + Unlimited

Preferred Rewards Impact (BofA)

BofA’s Preferred Rewards program boosts credit card earnings based on your combined BofA/Merrill balances:

Tier	Balance Required	Card Bonus	Effective Rate (Customized Cash)
Gold	$20,000	+25%	3.75% in choice category
Platinum	$50,000	+50%	4.50% in choice category
Platinum Honors	$100,000	+75%	5.25% in choice category

Winner: Chase for most people — superior transfer partners and sign-up bonuses. BofA wins if you’re in the Platinum Honors tier with $100,000+ in Merrill accounts.

Mobile App and Digital Banking

Feature	Chase	Bank of America
App Store rating	4.8/5	4.7/5
Zelle	✅ Built-in	✅ Built-in
Mobile check deposit	✅	✅
Erica (AI assistant)	❌	✅
Credit score monitoring	✅ (Credit Journey)	✅
Budgeting tools	Basic	Better (Erica insights)
Bill pay	✅	✅
Real-time alerts	✅	✅
Card lock/unlock	✅	✅
Fingerprint/Face ID	✅	✅
Digital wallet	Apple, Google, Samsung	Apple, Google, Samsung
Virtual card numbers	❌	❌

Winner: Tie — both have excellent mobile apps. BofA has Erica AI assistant; Chase generally has smoother UI.

Branch and ATM Network

Feature	Chase	Bank of America
Branches	4,700+	3,800+
ATMs	15,000+	16,000+
States with branches	48	38
Saturday hours	Most branches	Most branches
Sunday hours	Some branches	Limited
Drive-through	Many locations	Many locations
Coin-counting machines	Some branches	Some branches

Strongest Regional Presence

Region	Chase	Bank of America
Northeast	Strong	Strong
Southeast	Moderate	Very strong
Midwest	Very strong	Moderate
Southwest	Very strong	Moderate
West Coast	Strong	Very strong
Pacific Northwest	Strong	Strong

Winner: Chase — more branches in more states. BofA has a slight edge in ATM count.

Investment Platforms

Feature	J.P. Morgan Self-Directed	Merrill Edge
Stock/ETF trades	$0	$0
Mutual fund trades	$0 (JPM funds)	$0 (select funds)
Options (per contract)	$0.65	$0
Research quality	Good	Excellent (Merrill research)
Robo-advisor	J.P. Morgan Personal Advisors	Merrill Guided Investing
Robo-advisor fee	0.60%	0.45%
Integration with banking	Seamless	Seamless
IRA options	Traditional, Roth, rollover	Traditional, Roth, rollover
Fractional shares	✅	✅
Preferred Rewards tie-in	No	Yes (higher tiers)

Winner: Merrill Edge — no options commissions, excellent research, and Preferred Rewards integration makes it compelling for BofA customers.

Customer Service

Factor	Chase	Bank of America
J.D. Power 2025 score	790	780
Phone support hours	24/7	24/7
Branch service	Strong	Strong
Chat	In-app	In-app + Erica
Complaint ratio (CFPB)	Average	Average
Social media response	Fast	Fast

Winner: Chase by a small margin based on customer satisfaction scores.

Who Should Choose Chase?

✅ You want the strongest credit card ecosystem (Sapphire, Freedom)
✅ You travel and want transfer partners to airlines and hotels
✅ You want the largest branch network across more states
✅ You value a smooth mobile app experience
✅ You don’t maintain large balances at the bank
✅ You want strong sign-up bonuses on credit cards

Who Should Choose Bank of America?

✅ You maintain $20,000+ in combined BofA/Merrill balances
✅ You want the Preferred Rewards program (up to 75% bonus)
✅ You use Merrill Edge for investing
✅ You prefer a lower overdraft fee ($10 vs $34)
✅ You want a lower direct deposit threshold to waive fees
✅ BofA has better branch coverage in your area

Best Strategy: Use One for Banking, Online Bank for Savings

Neither Chase nor Bank of America pays meaningful savings interest. The smartest approach:

Account	Where	Why
Checking	Chase or BofA	Branch access, bill pay, Zelle
Emergency fund	Online bank (Ally, Marcus)	4.50%+ APY
Short-term savings	Online bank (HYSA)	100-450x higher rates
Credit cards	Chase (or BofA with PR)	Best rewards ecosystem
Investing	Merrill Edge or Fidelity	Low-cost, good research

Bottom Line

Category	Winner
Checking accounts	Bank of America (lower overdraft, easier fee waiver)
Savings rates	Neither (use online bank)
Credit cards	Chase (transfer partners, sign-up bonuses)
Branch network	Chase (more branches, more states)
ATM network	Bank of America (slightly more ATMs)
Investing	Bank of America (Merrill Edge + Preferred Rewards)
Mobile app	Tie
Fees overall	Bank of America (lower overdraft and ATM fees)
Best for most people	Chase (unless you qualify for Preferred Rewards)

Chase is better for most people thanks to its superior credit card ecosystem, wider branch network, and strong mobile experience. Bank of America wins if you have $20,000+ in combined balances — the Preferred Rewards program transforms BofA’s credit cards and investment accounts into a genuinely compelling package. Either way, don’t keep your savings earning 0.01-0.04% — pair whichever big bank you choose with an online savings account earning 4.50%+.