Adequate But Not Great. They Look For Ways To Take Advantage Of You.

I've had an account with Bank of America ever since they merged with Nations Bank back in 1998. Convenience is the reason I've stayed with them. When I was in school, they had me on a no-fee student account. When I graduated, I kept the account because they didn't (and still do not) charge fees to people with monthly direct deposits. I currently live in NYC and BoA ATMs are everywhere I need them to be. 

When I leave NYC two years from now, I look forward to switching to a local credit union or other bank. Below is a summary of my expierience with them.

Advantages to BoA: 

• They have a good website, and their Portfolio funciton works really well. It's powered by the same software that powers Mint.com, so you can see all of your accounts in one place. This is really convenient.
• ATMs everywhere.
• Partnerships with overseas banks. When I was in France last summer, I was able to avoid foreign transaction fees by using my BoA card at BNP Paribas ATMs. 
• They sponsor a promotion where people with BoA cards get free admission to numerous museums, zoos, and aquariums.

Disadvantages:

• Their savings account interest rates and CD rates are lower than elsewhere. I use BoA for day-to-day checking/cash withdrawals, and keep larger amounts in other banks.
• Many of my friends have had bad experiences with BoA charging unexpected fees. I haven't run into this because I have direct deposit, but the impression I get is that they view the customers as a resource to be exploited, and that it's gotten worse with the passage of credit reform laws.
• Customer service is not great. When I lost a card, they were quick to answer that. When I've had other, less urgent problems or questions, they put me on hold for lengthy periods of time.