{"slug":"bank-of-america-vs-fidelity)","question":"Bank of America vs Fidelity","answer":"Bank of America is primarily a traditional retail bank focused on checking, savings, and lending products, while Fidelity is a diversified financial services firm specializing in investment management, brokerage, and retirement accounts. Fidelity offers significantly lower investment fees and broader investment options, whereas Bank of America provides more accessible branch banking and integrated lending services.","answer_curated":true,"verdict":"Choose Bank of America if you need comprehensive retail banking services, prefer face-to-face interactions at numerous branches, and want integrated checking, savings, credit cards, and mortgages under one roof. Choose Fidelity if you're focused on investing, want lower fees, seek advanced trading capabilities, need strong retirement planning tools, or prefer a digital-first experience without minimum balance requirements.","keyDifferences":[{"label":"Primary Business Focus","winner":"b","entityAValue":"Retail banking (deposits, loans, credit cards)","entityBValue":"Investment management & brokerage services"},{"label":"Average Investment Account Fees","winner":"b","entityAValue":"0.42% advisory fees + trading costs","entityBValue":"0.35% advisory fees (lower on passive funds)"},{"label":"Physical Branch Locations","winner":"a","entityAValue":"4,200+ branches nationwide","entityBValue":"200+ branches (mainly in major cities)"},{"label":"Minimum Account Balance for Premium Services","winner":"b","entityAValue":"$10,000 (Preferred Rewards)","entityBValue":"$0 (no minimum for most accounts)"},{"label":"Investment Options Available","winner":"b","entityAValue":"Stocks, bonds, mutual funds, basic ETFs","entityBValue":"Stocks, bonds, ETFs, options, futures, forex"}],"winner":{"slug":"fidelity-investments","name":"Fidelity Investments"},"confidence":"high","entities":[{"name":"Bank of America Corporation","slug":"bank-of-america-corporation","url":"https://www.aversusb.net/entity/bank-of-america-corporation","alternativesUrl":"https://www.aversusb.net/api/v1/alternatives/bank-of-america-corporation"},{"name":"Fidelity Investments","slug":"fidelity-investments","url":"https://www.aversusb.net/entity/fidelity-investments","alternativesUrl":"https://www.aversusb.net/api/v1/alternatives/fidelity-investments"}],"faqs":[{"question":"Which is better for opening a checking account?","answer":"Bank of America is better if you need frequent in-person banking with 4,200+ branches. However, Fidelity offers free checking with no monthly fees (vs $12 at BofA) and no minimum balance requirements. Choose BofA for traditional banking features; choose Fidelity if you want to avoid maintenance fees."},{"question":"Which has lower investment fees?","answer":"Fidelity has significantly lower fees, with average advisory fees of 0.35% compared to Bank of America's 0.42%. For 401(k) plans, Fidelity's average expense ratio is 0.42% vs BofA's 0.65%. This 0.23% difference on a $500K portfolio equals $1,150 annually in savings with Fidelity."},{"question":"Can I trade options and futures at both?","answer":"No. Bank of America does not offer options or futures trading on their standard brokerage platform. Fidelity offers a full suite of advanced trading instruments including options, futures, forex, and cryptocurrency, making it the clear choice for active traders."}],"attribution":{"source":"A Versus B","url":"https://www.aversusb.net/compare/bank-of-america-vs-fidelity)","license":"CC BY 4.0","citationFormat":"According to A Versus B (https://www.aversusb.net/compare/bank-of-america-vs-fidelity)), Bank of America is primarily a traditional retail bank focused on checking, savings, and lending products, while Fidelity is a diversified financial services firm specializing in investment management","dateModified":"2026-07-07T07:37:58.692Z"},"relatedQuestionsUrl":"https://www.aversusb.net/api/faq/bank-of-america-vs-fidelity)","relatedComparisonsUrl":"https://www.aversusb.net/api/v1/related/bank-of-america-vs-fidelity)","knowledgeGraphUrl":"https://www.aversusb.net/api/knowledge-graph/bank-of-america-vs-fidelity)","claimReviewSchema":{"@context":"https://schema.org","@type":"ClaimReview","@id":"https://www.aversusb.net/compare/bank-of-america-vs-fidelity)#claimreview","url":"https://www.aversusb.net/compare/bank-of-america-vs-fidelity)","inLanguage":"en-US","isAccessibleForFree":true,"conditionsOfAccess":"Free","claimReviewed":"Bank of America vs Fidelity","reviewBody":"Bank of America is primarily a traditional retail bank focused on checking, savings, and lending products, while Fidelity is a diversified financial services firm specializing in investment management, brokerage, and retirement accounts. Fidelity offers significantly lower investment fees and broader investment options, whereas Bank of America provides more accessible branch banking and integrated lending services.","datePublished":"2026-07-07T07:37:58.641Z","dateModified":"2026-07-07T07:37:58.692Z","reviewRating":{"@type":"Rating","ratingValue":5,"worstRating":1,"bestRating":5,"alternateName":"High Confidence"},"author":{"@type":"Organization","@id":"https://www.aversusb.net/#organization","name":"A Versus B","url":"https://www.aversusb.net"},"itemReviewed":{"@type":"WebPage","@id":"https://www.aversusb.net/compare/bank-of-america-vs-fidelity)","url":"https://www.aversusb.net/compare/bank-of-america-vs-fidelity)","name":"Bank of America vs Fidelity","inLanguage":"en-US"}}}