{"slug":"bank-of-america-vs-fidelity)","title":"Bank of America vs Fidelity","url":"https://www.aversusb.net/compare/bank-of-america-vs-fidelity)","faqCount":5,"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."},{"question":"Which should I choose for mortgages?","answer":"Bank of America is the only practical choice for mortgages, as Fidelity does not offer residential mortgage lending. BofA has integrated mortgage servicing with your existing accounts and competitive rates, especially for Preferred Rewards members."},{"question":"What's the difference in 401(k) retirement accounts?","answer":"Both offer 401(k) plans, but Fidelity's are significantly cheaper. Fidelity charges average expense ratios of 0.42% vs Bank of America's 0.65%, translating to roughly $1,150 more per year in fees at BofA for a $500K balance. Fidelity also offers more investment choices (7+ asset classes vs 4 at BofA)."}],"faqPageSchema":{"@context":"https://schema.org","@type":"FAQPage","@id":"https://www.aversusb.net/compare/bank-of-america-vs-fidelity)#faq","url":"https://www.aversusb.net/compare/bank-of-america-vs-fidelity)","inLanguage":"en-US","name":"Bank of America vs Fidelity — FAQ","description":"Frequently asked questions about Bank of America vs Fidelity","dateModified":"2026-07-07T07:37:58.692Z","author":{"@type":"Organization","@id":"https://www.aversusb.net/#organization","name":"A Versus B"},"publisher":{"@type":"Organization","@id":"https://www.aversusb.net/#organization","name":"A Versus B"},"isPartOf":{"@type":"Article","@id":"https://www.aversusb.net/compare/bank-of-america-vs-fidelity)#article"},"license":"https://creativecommons.org/licenses/by/4.0/","speakable":{"@type":"SpeakableSpecification","cssSelector":["#faq",".faq-item"]},"mainEntity":[{"@type":"Question","name":"Which is better for opening a checking account?","acceptedAnswer":{"@type":"Answer","text":"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.","inLanguage":"en-US","url":"https://www.aversusb.net/compare/bank-of-america-vs-fidelity)"}},{"@type":"Question","name":"Which has lower investment fees?","acceptedAnswer":{"@type":"Answer","text":"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.","inLanguage":"en-US","url":"https://www.aversusb.net/compare/bank-of-america-vs-fidelity)"}},{"@type":"Question","name":"Can I trade options and futures at both?","acceptedAnswer":{"@type":"Answer","text":"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.","inLanguage":"en-US","url":"https://www.aversusb.net/compare/bank-of-america-vs-fidelity)"}},{"@type":"Question","name":"Which should I choose for mortgages?","acceptedAnswer":{"@type":"Answer","text":"Bank of America is the only practical choice for mortgages, as Fidelity does not offer residential mortgage lending. BofA has integrated mortgage servicing with your existing accounts and competitive rates, especially for Preferred Rewards members.","inLanguage":"en-US","url":"https://www.aversusb.net/compare/bank-of-america-vs-fidelity)"}},{"@type":"Question","name":"What's the difference in 401(k) retirement accounts?","acceptedAnswer":{"@type":"Answer","text":"Both offer 401(k) plans, but Fidelity's are significantly cheaper. Fidelity charges average expense ratios of 0.42% vs Bank of America's 0.65%, translating to roughly $1,150 more per year in fees at BofA for a $500K balance. Fidelity also offers more investment choices (7+ asset classes vs 4 at BofA).","inLanguage":"en-US","url":"https://www.aversusb.net/compare/bank-of-america-vs-fidelity)"}}]}}