Bank of America provides a comprehensive suite of banking services with a strong physical presence and digital capabilities, but it suffers from inconsistent customer service and potentially uncompetitive rates. Goldman Sachs (Marcus) has no available information to make a comparison.
| Attribute | Bank of America | Goldman Sachs (Marcus) |
|---|---|---|
| Interest Rates on Savings Accounts | Variable, depend on account type and balance. Advantage Savings account offers a low base interest rate, but Preferred Rewards members can earn higher rates. | Not available |
| Checking Account Fees | Various checking account options, each with different fee structures. Monthly maintenance fees can often be waived by meeting certain requirements, such as maintaining a minimum balance or receiving direct deposits. | Not available |
| Loan Interest Rates (Mortgage, Personal, Auto) | Mortgage: Subject to market conditions and individual creditworthiness. Offers fixed-rate and adjustable-rate mortgages. Personal Loans: Vary depending on credit score, loan amount, and loan term. Auto Loans: Depend on factors like credit score, loan amount, and the age and type of vehicle. | Not available |
| Mobile App Rating (iOS & Android) | Generally receives high ratings on both iOS and Android platforms. User reviews often praise its ease of use and features. | Not available |
| Customer Service Quality (Phone, Online, In-Person) | Can vary. Provides customer service through phone, online chat, and in-person at branches. Some users report positive experiences, while others have encountered issues with responsiveness or problem resolution. | Not available |
| Branch Availability (Locations & Hours) | Widespread network of branches across the United States. Branch hours vary by location. | Not available |
| Online Banking Features & Usability | Offers a range of features, including online bill pay, mobile check deposit, and account management tools. Generally considered user-friendly. | Not available |
| Credit Card Options & Rewards Programs | Offers a variety of credit cards with different rewards programs, such as cash back, travel points, and low introductory APRs. Rewards programs often have tiers based on spending or relationship with the bank. | Not available |
| Investment Services (Advisory, Brokerage) | Provides investment services through Merrill Edge and Merrill Lynch. These include advisory services, brokerage accounts, and access to investment research and tools. | Not available |
| Financial Planning Services | Offers financial planning services to help customers with retirement planning, wealth management, and other financial goals. These services may be offered through Merrill Lynch or other divisions. | Not available |
| ATM Network Size & Fees | Has a large ATM network. Customers can typically avoid ATM fees by using Bank of America ATMs. Fees may apply for using non-Bank of America ATMs. | Not available |
| FDIC Insurance Coverage | Deposits are FDIC insured up to the standard maximum deposit insurance amount, which is currently $250,000 per depositor, per insured bank. | Not available |
| Pros | Widespread branch and ATM network, User-friendly mobile app and online banking, Variety of credit card options and rewards programs, Comprehensive financial planning and investment services, FDIC insurance coverage | Not available |
| Cons | Savings and CD rates often not competitive, Inconsistent customer service experiences, Potential transparency issues with fees and charges | Not available |
| User Feedback (Positive) | Easy to use mobile app for everyday banking, Convenient branch locations and ATM network, Easy to transfer money between accounts | Not available |
| User Feedback (Negative) | Low satisfaction with savings and CD rates, Varying experiences with customer service responsiveness, Difficulties resolving disputes or fraudulent activity, Lack of transparency in fees and charges | Not available |