There’s no minimum deposits or service fees on their banking products.
While Bank of America offers different accounts: checking, savings, CDs, IRA and investment accounts through Merrill Edge.
They are highly praised for their good customer service with extended hours.
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
|Over 5,000 locations (Locator)
|Over 43,000 no-fee Allpoint ATMs
|Over 1,800 ATMs
|-Extended banking hours
-Low requirements to waive monthly fees
-No foreign transaction fees
-Extended customer service hours
-Full service bank
|-No free checking
|-No free checking option
– Low interest rate
-Many miscellaneous banking fees
|Ally Bank is an online only based banking that offers full service with the most competitive rates.
|Bank of America operates nationwide offering many account options like checking, savings, and more!
Ally Bank Promotions
Which Bank is Better: Ally Bank or Bank of America?
- Ally Bank offers good interest rates and no account minimum or service fees.
- Bank of America has many account options and their user friendly interface and mobile app is noteworthy.