Bank of America Online
After looking at Ally and TD Banks, we here at Online Banks Blog had to go and do an overview look at Bank of America Online as well. This is one of the nation’s largest banks, yet the online banking at Bank of America is often overlooked.
The Bank of America Online website has undergone some subtle changes to make it more efficient and faster-loading. Otherwise, no new features that we could find were found. New information and BoA rates are updated, however, and worth looking at.
Customer complaints and repeated questions have lead to the updating of the online banking at Bank of America website’s FAQ page for fees. The information is clearer and easier to understand. Individual account information pages have also been updated to clarify some fee issues.
A new type of checking account called MyAccess has tiered BoA rates for interest yields. The account is a sort of expanded-use money market with a $10,000 minimum balance (to avoid fees) that offers overdraft coverage and other things. Yields are from 0.05% APY to 0.40% APY, depending on total balance.
Another new offer with BoA rates from Bank of America Online is the Growth Money Market Savings Account. Like the MyAccess checking, this one is tiered by balance, but only requires $5,000 in balance to avoid fees. Annual percentage yields begin at 1.10% and range up to 1.40%.
Of course, Bank of America Online is FDIC insured. If you’re interested in a national bank with good offers, check out online banking at Bank of America today. Deifnitely worth the look.
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