Bank of America vs Fidelity 2026: Fees, Features
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.
Bank of America Corporation
Major US retail bank providing deposit products, consumer lending, and wealth management services.
Customers wanting traditional banking services, mortgages, business accounts, and those who value branch access over low investment fees.
Fidelity Investments
Diversified financial services firm specializing in investment management, brokerage, and retirement accounts.
Investors, traders, self-directed account holders, and anyone prioritizing low fees and advanced investment tools over branch banking convenience.
Quick Answer
AI SummaryBank 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.
Our Verdict
AI-assistedChoose 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.
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Choose Bank of America Corporation if
Customers wanting traditional banking services, mortgages, business accounts, and those who value branch access over low investment fees.
Choose Fidelity Investments if
Best pickInvestors, traders, self-directed account holders, and anyone prioritizing low fees and advanced investment tools over branch banking convenience.
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Key Differences at a Glance
- Primary Business Focus:✓ Fidelity Investments wins(Investment management & brokerage services vs Retail banking (deposits, loans, credit cards))
- Average Investment Account Fees:✓ Fidelity Investments wins(0.35% advisory fees (lower on passive funds) vs 0.42% advisory fees + trading costs)
- Physical Branch Locations:✓ Bank of America Corporation wins(4,200+ branches nationwide vs 200+ branches (mainly in major cities))
Key Facts & Figures
50 numeric metrics compared
| Metric | Bank of America Corporation | Fidelity Investments | Ratio |
|---|---|---|---|
| US Physical Branches(locations) | 4,368 | — | — |
| Basic Checking Account Monthly Fee(USD) | $12-15 (with conditions) | — | — |
| Money Market Account APY (12-month)(percent) | 4.02% APY | — | — |
| Total Assets(billion USD) | $3.45T | — | — |
| ATM Network Size(ATMs) | 17,000+ | — | — |
| J.D. Power Customer Satisfaction Score(score out of 1000) | 674 | — | — |
| Mobile App Rating (Apple App Store 2025)(stars out of 5) | 4.3 stars | — | — |
| Employees Worldwide(thousands) | 316,000 | — | — |
| Physical Bank Branches(locations) | 4,300+ branches | — | — |
| ATM Network Access(count) | 21,000+ ATMs | — | — |
| Checking Account Monthly Fee(USD) | $12 (waivable with $1,500 balance) | — | — |
| Savings Account Annual Percentage Yield (APY)(%) | 0.01% on standard savings | — | — |
| Credit Card Rewards Earning Rate(% cash back) | 1.75% max (select cards) | — | — |
| Overdraft Fee(USD) | $35 per overdraft (up to 4/day) | — | — |
| Customer Satisfaction (J.D. Power 2024)(score (0-100)) | 71/100 | — | — |
| Minimum Balance to Waive Checking Fee(USD) | $1,500 | — | — |
| Total Assets Under Management(billions USD) | $2,900 billion | — | — |
| Annual Revenue(USD billions) | $96.3 billion | — | — |
| Return on Equity(%) | 11.8% | — | — |
| Number of Physical Branches(locations) | 4,300+ | — | — |
| Credit Cards in Portfolio(millions) | 50 million | — | — |
| Total Employees(headcount) | 167,000 | — | — |
| Savings Account APY(%) | 0.01% - 0.05% | — | — |
| Mobile App Rating(stars (out of 5)) | 4.2/5.0 | — | — |
| Physical Branch Locations(number) | 4,200+ | 200+ | |
| Average Investment Advisory Fee(%) | 0.42% | 0.35% | |
| Minimum Account Balance for Premium Tier(USD) | $10,000 | $0 | |
| Monthly Checking Account Fee (standard)(USD) | $12 | $0 | |
| Average 401(k) Plan Expense Ratio(%) | 0.65% | 0.42% | |
| Customer Satisfaction (J.D. Power 2025)(points (0-100)) | 779 | 798 | |
| Number of Investment Asset Classes(count) | 4 (stocks, bonds, mutual funds, ETFs) | 7 (stocks, bonds, ETFs, options, futures, forex, crypto) | |
| Assets Under Management(USD Trillions) | $1.9T | $11.9T | |
| Market Capitalization(USD billions) | $12.39 billion | $12.39 billion | |
| Average Mutual Fund Expense Ratio(%) | 0.35% | 0.35% | |
| Commission-Free ETF Count(count) | 4,000+ | 4,000+ | |
| Educational Content Resources(count) | 1,500+ articles/videos | 1,500+ articles/videos | |
| Mobile App Rating (iOS)(stars) | 4.7/5 | 4.7/5 | |
| Assets Under Administration(USD Trillions) | $11.3+ trillion | $11.3+ trillion | |
| Available Mutual Funds(number of funds) | 9,000+ | 9,000+ | |
| Average ETF Expense Ratio(%) | 0.12% | 0.12% | |
| Customer Service Rating (J.D. Power 2024)(Score (out of 5)) | 4.5/5 | 4.5/5 | |
| Stock Trading Commission(USD) | $0 | $0 | |
| Options Trading Commission(USD per contract) | $0 | $0 | |
| Mobile App Rating (2024)(Stars (out of 5)) | 4.6/5 | 4.6/5 | |
| Minimum Account Balance(USD) | $2,500 | $2,500 | |
| Stock Commission(USD per trade) | $0 | $0 | |
| Robo-Advisor Fee(%) | 0.35% | 0.35% | |
| FDIC Insurance per Account Type(USD) | $1,900,000 | $1,900,000 | |
| Minimum for Robo-Advisor Service(USD) | $25,000 | $25,000 | |
| Founded Year(year) | 1946 | 1946 |
Sourced from publicly available data ·
Key Differences
7 attributes compared head-to-head
- Retail banking (deposits, loans, credit cards)Primary Business FocusInvestment management & brokerage services(winner)
- 0.42% advisory fees + trading costsAverage Investment Account Fees0.35% advisory fees (lower on passive funds)(winner)
- 4,200+ branches nationwide(winner)Physical Branch Locations200+ branches (mainly in major cities)
- $10,000 (Preferred Rewards)Minimum Account Balance for Premium Services$0 (no minimum for most accounts)(winner)
- Stocks, bonds, mutual funds, basic ETFsInvestment Options AvailableStocks, bonds, ETFs, options, futures, forex(winner)
- 0.65% average expense ratioAverage 401(k) Plan Fees0.42% average expense ratio(winner)
- 779/1000Customer Satisfaction Score (J.D. Power 2025)798/1000(winner)
- Primary Business Focus
Bank of America Corporation
Retail banking (deposits, loans, credit cards)
Fidelity Investments
Investment management & brokerage services(winner)
- Average Investment Account Fees
Bank of America Corporation
0.42% advisory fees + trading costs
Fidelity Investments
0.35% advisory fees (lower on passive funds)(winner)
- Physical Branch Locations
Bank of America Corporation
4,200+ branches nationwide(winner)
Fidelity Investments
200+ branches (mainly in major cities)
- Minimum Account Balance for Premium Services
Bank of America Corporation
$10,000 (Preferred Rewards)
Fidelity Investments
$0 (no minimum for most accounts)(winner)
- Investment Options Available
Bank of America Corporation
Stocks, bonds, mutual funds, basic ETFs
Fidelity Investments
Stocks, bonds, ETFs, options, futures, forex(winner)
- Average 401(k) Plan Fees
Bank of America Corporation
0.65% average expense ratio
Fidelity Investments
0.42% average expense ratio(winner)
- Customer Satisfaction Score (J.D. Power 2025)
Bank of America Corporation
779/1000
Fidelity Investments
798/1000(winner)
Full Comparison
| Attribute | Bank of America Corporation | Fidelity Investments |
|---|---|---|
| US Physical Branches(locations) | 4,368 | — |
| ATM Network Size(ATMs) | 17,000+ | — |
| Physical Bank Branches(locations) | 4,300+ branches | — |
| ATM Network Access(count) | 21,000+ ATMs | — |
| Physical Branch Locations(number) | 4,200+(winner) | 200+ |
| Basic Checking Account Monthly Fee(USD) | $12-15 (with conditions) | — |
| Money Market Account APY (12-month)(percent) | 4.02% APY | — |
| Total Assets(billion USD) | $3.45T | — |
| Assets Under Management(USD Trillions) | $1.9T | $11.9T(winner) |
| Assets Under Administration(USD Trillions) | $11.3+ trillion | — |
| J.D. Power Customer Satisfaction Score(score out of 1000) | 674 | — |
| Mobile App Rating (Apple App Store 2025)(stars out of 5) | 4.3 stars | — |
| Employees Worldwide(thousands) | 316,000 | — |
| Checking Account Monthly Fee(USD) | $12 (waivable with $1,500 balance) | — |
| Overdraft Fee(USD) | $35 per overdraft (up to 4/day) | — |
| Savings Account Annual Percentage Yield (APY)(%) | 0.01% on standard savings | — |
| Credit Card Rewards Earning Rate(% cash back) | 1.75% max (select cards) | — |
| Customer Satisfaction (J.D. Power 2024)(score (0-100)) | 71/100 | — |
| Customer Satisfaction (J.D. Power 2025)(points (0-100)) | 779 | 798(winner) |
| Minimum Balance to Waive Checking Fee(USD) | $1,500 | — |
| Minimum Account Balance for Premium Tier(USD) | $10,000 | $0(winner) |
| Minimum Account Balance(USD) | $2,500 | — |
| Minimum for Robo-Advisor Service(USD) | $25,000 | — |
| Total Assets Under Management(billions USD) | $2,900 billion | — |
| Total Employees(headcount) | 167,000 | — |
| Annual Revenue(USD billions) | $96.3 billion | — |
| Market Capitalization(USD billions) | $12.39 billion | — |
| Return on Equity(%) | 11.8% | — |
| Number of Physical Branches(locations) | 4,300+ | — |
| Credit Cards in Portfolio(millions) | 50 million | — |
| Savings Account APY(%) | 0.01% - 0.05% | — |
| Mobile App Rating(stars (out of 5)) | 4.2/5.0 | — |
| Average Investment Advisory Fee(%) | 0.42% | 0.35%(winner) |
| Monthly Checking Account Fee (standard)(USD) | $12 | $0(winner) |
| Average Mutual Fund Expense Ratio(%) | 0.35% | — |
| Average ETF Expense Ratio(%) | 0.12% | — |
| Average 401(k) Plan Expense Ratio(%) | 0.65% | 0.42%(winner) |
| Number of Investment Asset Classes(count) | 4 (stocks, bonds, mutual funds, ETFs) | 7 (stocks, bonds, ETFs, options, futures, forex, crypto)(winner) |
| Commission-Free ETF Count(count) | 4,000+ | — |
| Annual Revenue (2025-2026)(billion USD) | Not publicly itemized | — |
| Futures Trading Support | No | — |
| Cryptocurrency Trading | Yes | — |
| Mutual Fund Offerings | Extensive proprietary family | — |
| Primary Service Model | Diversified financial services & asset management | — |
| Research & Market Data Tools | Comprehensive but less specialized | — |
| Mobile App Rating (2024)(Stars (out of 5)) | 4.6/5 | — |
| Retirement Account Administration | Specialized institutional solutions | — |
| Educational Content Resources(count) | 1,500+ articles/videos | — |
| Mobile App Rating (iOS)(stars) | 4.7/5 | — |
| Premium Research Tools Included | Morningstar Premium + FactSet | — |
| Customer Service Hours(hours/day) | 24/7 phone support for account holders | — |
| Available Mutual Funds(number of funds) | 9,000+ | — |
| Customer Service Rating (J.D. Power 2024)(Score (out of 5)) | 4.5/5 | — |
| Stock Trading Commission(USD) | $0 | — |
| Options Trading Commission(USD per contract) | $0 | — |
| Stock Commission(USD per trade) | $0 | — |
| Robo-Advisor Fee(%) | 0.35% | — |
| FDIC Insurance per Account Type(USD) | $1,900,000 | — |
| Founded Year(year) | 1946 | — |
Bank of America CorporationFidelity InvestmentsPros & Cons
10 pros·6 cons across both
Bank of America Corporation
Pros
- 4,200+ branches for in-person banking and deposit services
- Integrated mortgage and auto loan origination with competitive rates
- Tiered rewards program (Preferred Rewards) with premium checking benefits
- Strong credit card portfolio with travel and cash-back options
- 24/7 customer service with specialized relationship managers
Cons
- Higher investment advisory fees (0.42%-0.50%) compared to industry averages
- Monthly maintenance fees on checking accounts ($12) without minimum balances
- Limited options for advanced traders (no options, futures, or forex trading)
Fidelity Investments
Pros
- Industry-leading low investment fees (0.35%-0.42% on managed accounts)
- Zero account minimums for most brokerage and retirement accounts
- Comprehensive investment platform: stocks, ETFs, options, futures, forex, and crypto
- Superior 401(k) and IRA offerings with average expense ratios of 0.42%
- Exceptional customer satisfaction (798/1000 J.D. Power score) and educational resources
Cons
- Limited physical branch presence (200+ locations vs 4,200 for BofA)
- No traditional deposit insurance beyond brokerage cash management accounts
- Mortgage and consumer lending services are limited; primarily investment-focused
Frequently Asked Questions
5 questions
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.
Resources & Learn More
Curated sources to dive deeper
Wikipedia
- W
Bank of America Corporation on Wikipedia (opens in new tab)
Major US retail bank providing deposit products, consumer lending, and wealth management services.
- W
Fidelity Investments on Wikipedia (opens in new tab)
Diversified financial services firm specializing in investment management, brokerage, and retirement accounts.
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