Banks offer different types of bank accounts in order to serve various needs and financial goals of their customers. Being a full-service financial organization, Bank of America offers a wide range of products and services to its customers. This bank is a fantastic choice for those who wish to manage their money in the best way. Knowing the basics of banking helps people to make their financial decisions wisely. If you want to open an account with the Bank of America, you must know which account best suits you. Take a look at the different types of bank accounts offered by Bank of America.
Different Types Of Accounts Offered By Bank Of America
You can choose the right account to put your money based on your financial goals. Always choose an account that helps you to maximize the return while minimizing the fees. It must allow you to manage your money in the most convenient way. Take a look at the different types of bank accounts offered by Bank of America and choose the best one that fulfills your banking needs.
- Savings accounts
- Checking/Chequing accounts
- Money Market accounts
- Certificate of Deposits (CDs)
- Retirement accounts
Bank Accounts For Convenience
A saving bank account is the best way to save money, and it keeps your money from theft. Bank of America has rewards for savings account with a low-interest rate but a high monthly maintenance fee. But you can find different ways to waive off its monthly fees. For people who look for a high-interest rate can consider this saving option at their online banks.
Many people prefer the checking account of this bank as it offers three main options to manage your money. You can choose any one of them based on your financial situation. The checking account options offered by this bank are:
- Bank of America Advantage SafeBalance Banking
- Bank of America Advantage Plus Banking
- Bank of America Advantage Relationship Banking
If you do not need cheques and prefer to keep a low balance, you can opt for the Advantage Safe Balance Banking. Advantage Plus Banking of this bank is a suitable option for many people as it offers overdraft programs that help customers to cover transactions if there is not sufficient money in their account. Choose Advantage Relationship banking if you can keep a high balance in your account. The advantage of this account is that it offers some interest to its holders. Besides, this checking account option also offers checks and overdraft facilities. You can also consider account type like Money Market accounts, Certificate of Deposits (CDs) and Retirement accounts based on your banking needs.