{"slug":"bank-of-america-vs-wells-fargo)","question":"Bank of America vs Wells Fargo","answer":"Bank of America is larger with $3.45 trillion in assets and stronger overall customer satisfaction ratings (72% vs 64%), while Wells Fargo has lower fees and better mobile app ratings despite its 2016 scandal legacy continuing to impact reputation.","answer_curated":true,"verdict":"Choose Bank of America if you value stability, scale, and strong customer service with the largest branch and ATM network, plus better trust ratings. Choose Wells Fargo if you prioritize lower fees, superior mobile banking experience, and are price-sensitive on account maintenance—though be aware of ongoing reputation challenges from historical compliance issues.","keyDifferences":[{"label":"Total Assets","winner":"a","entityAValue":"$3.45 trillion","entityBValue":"$1.88 trillion"},{"label":"Customer Satisfaction Score (J.D. Power 2024)","winner":"a","entityAValue":"72/100","entityBValue":"64/100"},{"label":"Mobile App Rating (Apple App Store)","winner":"b","entityAValue":"4.2 stars","entityBValue":"4.5 stars"},{"label":"Monthly Maintenance Fee (Checking Account)","winner":"b","entityAValue":"$12 (waivable with $1,500 balance)","entityBValue":"$0-$10 (account dependent)"},{"label":"ATM Network Size","winner":"a","entityAValue":"16,000+ ATMs","entityBValue":"12,000+ ATMs"}],"winner":{"slug":"bank-of-america","name":"Bank of America"},"confidence":"high","entities":[{"name":"Bank of America","slug":"bank-of-america","url":"https://www.aversusb.net/entity/bank-of-america","alternativesUrl":"https://www.aversusb.net/api/v1/alternatives/bank-of-america"},{"name":"Wells Fargo","slug":"wells-fargo","url":"https://www.aversusb.net/entity/wells-fargo","alternativesUrl":"https://www.aversusb.net/api/v1/alternatives/wells-fargo"}],"faqs":[{"question":"Which bank is safer in terms of FDIC protection?","answer":"Both Bank of America and Wells Fargo are FDIC-insured institutions. Each account holder is protected up to $250,000 per depositor, per insured bank, for each account ownership category. Both banks far exceed minimum capital requirements, making them equally safe in terms of federal insurance protection."},{"question":"Does Wells Fargo's 2016 fake accounts scandal still matter?","answer":"Yes, significantly. Wells Fargo's 2016 scandal (where employees created millions of unauthorized accounts) continues to impact its reputation. Current data shows a 10-point customer trust gap (58% vs 68%) compared to Bank of America. The bank has paid over $3 billion in settlements and continues facing regulatory scrutiny, which some customers view as a material risk factor."},{"question":"Which bank has better interest rates?","answer":"Both banks offer competitive rates, though they fluctuate with market conditions. As of 2024, Wells Fargo typically offers slightly higher rates on savings accounts (around 4.50% APY on high-yield savings) compared to Bank of America (around 4.35% APY), but the difference is marginal (0.15 percentage points). Compare current rates directly before opening accounts."}],"attribution":{"source":"A Versus B","url":"https://www.aversusb.net/compare/bank-of-america-vs-wells-fargo)","license":"CC BY 4.0","citationFormat":"According to A Versus B (https://www.aversusb.net/compare/bank-of-america-vs-wells-fargo)), Bank of America is larger with $3.45 trillion in assets and stronger overall customer satisfaction ratings (72% vs 64%), while Wells Fargo has lower fees and better mobile app ratings despite its 2016","dateModified":"2026-07-07T10:41:13.728Z"},"relatedQuestionsUrl":"https://www.aversusb.net/api/faq/bank-of-america-vs-wells-fargo)","relatedComparisonsUrl":"https://www.aversusb.net/api/v1/related/bank-of-america-vs-wells-fargo)","knowledgeGraphUrl":"https://www.aversusb.net/api/knowledge-graph/bank-of-america-vs-wells-fargo)","claimReviewSchema":{"@context":"https://schema.org","@type":"ClaimReview","@id":"https://www.aversusb.net/compare/bank-of-america-vs-wells-fargo)#claimreview","url":"https://www.aversusb.net/compare/bank-of-america-vs-wells-fargo)","inLanguage":"en-US","isAccessibleForFree":true,"conditionsOfAccess":"Free","claimReviewed":"Bank of America vs Wells Fargo","reviewBody":"Bank of America is larger with $3.45 trillion in assets and stronger overall customer satisfaction ratings (72% vs 64%), while Wells Fargo has lower fees and better mobile app ratings despite its 2016 scandal legacy continuing to impact reputation.","datePublished":"2026-07-07T10:41:13.677Z","dateModified":"2026-07-07T10:41:13.728Z","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-wells-fargo)","url":"https://www.aversusb.net/compare/bank-of-america-vs-wells-fargo)","name":"Bank of America vs Wells Fargo","inLanguage":"en-US"}}}