Bank of America vs Wells Fargo: Which Is Better?

Bank of America is one of the most well known banks in the U.S. with more than 5,000 locations and 16,000 ATMs nationwide. They offer many different accounts: checking, savings, CDs, IRA and investment accounts through Merrill Edge. Not only that, they are highly praised for their good customer service with extended hours.

Whereas, Wells Fargo is another well known bank with more than 5,400 locations offering 13,000 ATMs nationwide. They offer a variety of checking account like Teen Checking or Opportunity Checking for those who have financial troubles.

Continue reading below to see a side-by-side comparison between the two banks, so you can see which one offers the services you need the most.

	Bank of America	Wells Fargo
Locations	Over 5,000 locations (Locator)	5,400 retail banking branches coast to coast. (Locator)
ATMs	Over 1,800 ATMs	More than 13,000 ATMs across the country.
Savings	3/5	2.5/5
CD	2/5	2/5
Checking	2.5/5	4/5
Money Market
Customer Service	4/5	4/5
Mobile App	4.5/5	4.5/5
Pros	-National availability -Extended customer service hours -Full service bank	-Nationwide availability – Large ATM network – Mobile app features – 24/7 account monitoring
Cons	-No free checking option – Low interest rate -Many miscellaneous banking fees	– Make minimal interest – Pay a fee for overdraft protection
Bottom Line	Bank of America operates nationwide offering many account options like checking, savings, and more!	Wells Fargo offer nationwide access to ATMs and branch locations, offering unique features that your bank might not provide.

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Bottom Line

Which Bank is Better: Bank of America or Wells Fargo?

In summary:

• Bank of America has many account options and their user friendly interface and mobile app is noteworthy. However, they aren’t as widespread as Wells Fargo.
• Wells Fargo offers nationwide access to their accounts, if you’re looking for basic banking features their accounts are to go to.

For other banking options, see our list of the best bank account bonuses & savings account offers.

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