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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

SuperMoney Net Recommendation Score +40%

SUPERMONEY NET RECOMMENDATION SCORE

+40

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.

Mostly recommended

3 users recommend
1 user is unsure
1 user doesn't recommend
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Highlights
Community Rating Mostly recommended
Monthly Fee $0 - $8
APY (Annual Percentage Yield) 0.01% - 0.05%
APY Minimum Balance N/A
Number of Reviews 5

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
Minimum Balance to Avoid Monthly Fee $500
Minimum Initial Deposit $100

What APY does Bank of America offer?

Bank of America Rewards Savings Account offers an APY starting at 0.01% and ranging up to 0.05% (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.

Bank of America Rewards Savings Account Features
Description
Bank Account Features
  • No ATM Fees
  • FDIC Member
  • Branch Access
  • Bauer Financial A+/A Rating
  • Automatic Savings
  • Debit Card
  • Free Bill Pay
  • Debit Card Lock/Unlock
  • Fraud Monitoring
  • Mobile Banking
  • Check Images with Statement
  • Nationwide ATM Network
  • Interest Bearing Account
  • No Monthly Maintenance Fee
  • Mobile Check Deposit

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.
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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
  • No ATM Fees
  • FDIC Member
  • Branch Access
  • Bauer Financial A+/A Rating
  • Automatic Savings
  • Debit Card
  • Free Bill Pay
  • Debit Card Lock/Unlock
  • Fraud Monitoring
  • Mobile Banking
  • Check Images with Statement
  • Nationwide ATM Network
  • Interest Bearing Account
  • No Monthly Maintenance Fee
  • Mobile Check Deposit
APY (Annual Percentage Yield) 0.01% - 0.05%

Bank of America Rewards Savings Account Community Reviews

 

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SUPERMONEY NET RECOMMENDATION SCORE

+40

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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