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  Bank of America Rewards Savings Account

Bank of America Rewards Savings Account

in Savings Accounts from Bank of America · Member FDIC

Unaffiliated

Bank of America Rewards Savings Account

Unaffiliated

in Savings Accounts from Bank of America · Member FDIC

Net Recommendation Score +100%

SUPERMONEY NET RECOMMENDATION SCORE

+100%

-100% 0% +100%
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Recommendation score measures the loyalty between a provider and a consumer. It's at 100% if everybody recommends the provider, and at -100% when no one recommends.

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Highlights
Highlights
Community Rating

Rating not yet determined

In our efforts to provide the community with the most accurate information, recommendation rating is not determined until a sufficient number of SuperMoney users cast their vote
Monthly Fee $0 - $8
APY (Annual Percentage Yield) 0.01% - 0.06%
APY Minimum Balance N/A

Bank of America Rewards Savings Account Review

Bank of America Rewards Savings Account is offered by Bank of America, a bank founded in 1784 and based in Charlotte, NC. Bank of America Rewards Savings Account is available in 50 states (and Washington, DC).

Bank of America Rewards Savings Account FAQ

Are savings accounts from Bank of America federally insured?

Yes, your Bank of America savings accounts are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC). The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.

Does Bank of America offer a signup bonus?

Bank of America Rewards Savings Account doesn't offer a signup bonus.

What is the minimum balance for Bank of America Rewards Savings Account?

The minimum balance to open a Bank of America Rewards Savings Account is $100.
Bank of America Rewards Savings Account Account Minimums
Description
APY Minimum Balance N/A
Minimum Initial Deposit $100
Minimum Combined Balance to Avoid Monthly Fee N/A
Minimum Required Balance N/A
Minimum Direct Deposit to Avoid Monthly Fee N/A
Minimum Balance to Avoid Monthly Fee $500

What APY does Bank of America offer?

Bank of America Rewards Savings Account offers an APY starting at 0.01% and ranging up to 0.06% (APY stands for annual percentage yield, rates may change).

What features and perks does Bank of America Rewards Savings Account offer?

This account includes the following features:

  • Automatic savings - Set up an automatic transfer from your checking account to a savings account and you'll never have to second-guess your saving decisions again.
  • Check images with statement - Reconciling your accounts and complying with document retention standards is easier when you have access to a copy of your checks.
  • Fraud monitoring - Bank of America Rewards Savings Account monitors transactions for potentially fraudulent activity, such as when a debit card is unexpectedly used in a different location or you make a sudden string of costly purchases.
  • Nationwide ATM network - Withdraw money and check your balance from wherever you are.
  • Bank of America Rewards Savings Account Features
    Description
    Bank Account Features
    • Automatic Savings
    • Bauer Financial A+/A Rating
    • Branch Access
    • Check Images with Statement
    • Fraud Monitoring
    • Interest Bearing Account
    • Mobile Banking
    • Mobile Check Deposit
    • Nationwide ATM Network
    • No ATM Fees
    • No Monthly Maintenance Fee

What fees does Bank of America Rewards Savings Account charge?

Bank of America Rewards Savings Account does not charge a monthly maintenance fee. See the fee breakdown section below to view all fees.

However, you can waive the monthly fee if you have a minimum daily balance of $500.

  • Outgoing domestic bank transfers come with a $30 fee.
  • Incoming domestic bank transfers come with a $15 fee.
  • Outoing international bank transfers come with a $45 fee. You can save a ton of money in fees if you use use a nonbank money transfer service.
  • Incoming international bank transfers come with a $16 fee.
  • Bank of America Rewards Savings Account charges $5 every time you request a paper statement.
SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Availability

  Available in 50 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

Minimum Balance to Avoid Monthly Fee $500
Minimum Initial Deposit $100
International ATM Surcharge $5
Monthly Fee $0 - $8
Paper Statement Fee $5
Returned Deposit Fee (Domestic) $15
Wire Transfer Fee - Domestic (Incoming) $15
Wire Transfer Fee - Domestic (Outgoing) $30
Wire Transfer Fee - International (Incoming) $16
Wire Transfer Fee - International (Outgoing) $45
Bauer Financial A+/A Rating  
Bank Account Features
  • Automatic Savings
  • Bauer Financial A+/A Rating
  • Branch Access
  • Check Images with Statement
  • Fraud Monitoring
  • Interest Bearing Account
  • Mobile Banking
  • Mobile Check Deposit
  • Nationwide ATM Network
  • No ATM Fees
  • No Monthly Maintenance Fee
APY (Annual Percentage Yield) 0.01% - 0.06%

Bank of America Rewards Savings Account Community Reviews

 

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SUPERMONEY NET RECOMMENDATION SCORE

+100%

-100% 0% +100%
No one recommends Everyone recommends

Recommendation score measures the loyalty between a provider and a consumer. It's at 100% if everybody recommends the provider, and at -100% when no one recommends.

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