Bank of America (BofA) was established in 1904. Since then, through the ups and downs of financial growth and crises, it has grown to become one of the “big four” banks in the United States (the others are JPMorgan Chase, Citigroup, and Wells Fargo). Headquartered in Charlotte, North Carolina, Bank of America has operations in more than 35 countries around the world.
Bank of America offers a full range of financial products and services. Its personal depository banking products include checking accounts, savings accounts, money market accounts, Certificates of Deposit (CDs), and Individual Retirement Accounts (IRAs). Its checking accounts, both interest bearing and non-interest bearing, feature online banking, mobile banking, debit cards, and available overdraft protection. BofA’s savings accounts can be used as overdraft protection for BofA checking accounts. Furthermore, the bank provides Health Savings Accounts (HSAs), which can be used to pay for qualified medical expenses.
Bank of America’s money market accounts offer higher interest rates to customers as a relationship banking reward. At the time of this writing, enrollment in the relationship banking program requires both a BofA personal checking account and a certain 3-month average combined balance in BofA banking accounts and/or Merrill Lynch or Merrill Edge investment accounts.
As for CDs, the terms range from 28 days to 10 years, with higher interest rates for longer terms. For the standard CDs, BofA does not allow any additional deposits until the CD matures, and there is an early withdrawal penalty. However, the bank also offers a short-term CD with no early withdrawal penalty, for customers looking to keep their funds relatively liquid.
BofA provides both Traditional and Roth IRA products, available as IRA money market accounts or IRA CDs , as well as brokerage IRAs through Merrill Edge. The bank also offers a variable rate CD IRA, to which deposits can be made at any time, and a short-term CD IRA with no early withdrawal penalty.
For business customers, BofA offers business checking accounts, business savings accounts (including business HSAs), business CDs, business IRA options (provided through Merrill Edge), and relationship banking benefits to higher-balance business customers. The bank’s business checking accounts vary by account balance and transaction volume, and they offer access to BofA’s business savings accounts, which are money market accounts with varied interest rates, depending on the account balance. Finally, as for business CDs, BofA offers terms from 7 days to 10 years, including a short-term business CD without an early withdrawal penalty.
The agent mis -represented my claim over the phone and stated I only asked for a refund verbally. I explained I had the signed form and the persons name I spoke with regarding canceling and returned that form the same day I placed the order. I had three days to so. On 11.23.2021 the bank gave the money back to the merchant. On Dec 6, the merchant put it back. You asked for a photo but tell me my screen shot was too small. SMH. I'm then asked to join this website when I only wanted to post this story. BOA isn't going have anyone wanting to do anything online with agents in the near future. Then let me know how's that working for you. The transcript wasn't sent to me for months letting me know about the reversal of funds should had a transcript immediately after filing the claim. The whole trans action took place on Sep 3,2021 Need proof look at the account.
|FDIC Certificate #||3510|
|Return on Assets - YTD||1.09%|
|Return on Equity - YTD||11.34%|
|Annual Interest Income||$32.02B|
|Assets and Liabilities|
|Assets||Q3 2021vs Q3 2020||$2,400.8B$2,157B|
|Loans||Q3 2021vs Q3 2020||$911.3B$933.5B|
|Deposits||Q3 2021vs Q3 2020||$2,032.8B$1,810.6B|
|Equity Capital||Q3 2021vs Q3 2020||$228.4B$213.9B|
|Loan Loss Allowance||Q3 2021vs Q3 2020||$13.14B$19.57B|
|Unbacked Noncurrent Loans||Q3 2021vs Q3 2020||$5.32B$5.30B|
|Real Estate Owned||Q3 2021vs Q3 2020||$368.0MM$227.0MM|
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