finance
Bank of America vs Fidelity 2026 | Banking vs Investing
Bank of America is primarily a retail and commercial bank offering checking, savings, and lending services, while Fidelity is an investment-focused financial services company specializing in brokerage, retirement accounts, and wealth management. They serve different primary purposes: BofA for banking basics, Fidelity for investing and portfolio management.
Bank of America
Full-service retail and commercial bank with extensive branch network and integrated investment services.
Traditional banking customers who value branch access, need credit products, and want basic investing without switching providers
Score63%
VS
Fidelity
Investment-centric financial services firm managing $11.8 trillion in assets with low-cost trading and retirement solutions.
Serious investors, traders, retirement planners, and DIY portfolio managers seeking advanced tools and low fees without needing traditional banking services
Score63%
Quick Answer
AI SummaryBank of America is primarily a retail and commercial bank offering checking, savings, and lending services, while Fidelity is an investment-focused financial services company specializing in brokerage, retirement accounts, and wealth management. They serve different primary purposes: BofA for banking basics, Fidelity for investing and portfolio management.
Our Verdict
AI-assistedChoose Bank of America if you prioritize convenient physical branch access, integrated checking/savings with investment accounts, and prefer a one-stop banking solution with established credit products. Choose Fidelity if you're a serious investor seeking zero-fee trading, superior investment research tools, lower account minimums, and no checking account fees.
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Bank of America
6/10
Fidelity
9/10
Choose Bank of America if
Traditional banking customers who value branch access, need credit products, and want basic investing without switching providers
Choose Fidelity if
Best pickSerious investors, traders, retirement planners, and DIY portfolio managers seeking advanced tools and low fees without needing traditional banking services
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Key Differences at a Glance
- Primary Business Focus:Retail/Commercial Banking vs Investment & Wealth Management
- Number of Physical Branches:✓ Bank of America wins(4,300+ branches vs 200+ branches)
- Stock Trading Commission:$0 per trade vs $0 per trade
Key Facts & Figures
83 numeric metrics compared
| Metric | Bank of America | Fidelity | Ratio |
|---|---|---|---|
| Total Physical Branches(branches) | 3,800 | — | — |
| New Branches Opening (2026)(locations) | 165+ | — | — |
| Premium Service Centers(centers) | 165+ full financial centers | — | — |
| Digital Engagement Value(billions USD) | $30 billion client interactions | — | — |
| Geographic Market Coverage (2026)(markets) | 63 markets | — | — |
| Checking Account Minimum Balance(USD) | Varies by account type ($500-$10,000) | — | — |
| Total Assets Under Management(trillions USD) | BofA: $3.6T | — | — |
| Physical Branches(count) | 4,300 branches | — | — |
| ATM Network Size(count) | 16,000+ ATMs | — | — |
| Mobile App Users(millions) | 38 million users | — | — |
| Top Credit Card Cashback Rate(percent) | 3.5% preferred categories | — | — |
| Minimum Checking Balance(USD) | $500-$2,500 | — | — |
| Q1 2026 Net Income(billions USD) | $7.3 billion | — | — |
| Wealth Management Assets(trillions USD) | $2.9 trillion | — | — |
| Monthly Checking Account Fee(USD) | $12 | — | — |
| Overdraft Fee(USD) | $35 per transaction | — | — |
| Auto Loan APR (Prime borrower)(%) | 6.49% | — | — |
| CD Rate (12-month)(%) | 4.10% | — | — |
| Total Assets Under Management(billion USD) | $2,950 billion | — | — |
| Stock Trading Commission(USD per trade) | $0 | $0 | |
| Mutual Fund Selection(funds) | 5,000+ | 9,000+ | |
| Physical Locations(branches) | 4,200+ branches | 200+ locations | |
| Mobile App Rating(stars) | 4.3 stars | 4.7 stars | |
| Account Minimum Requirement(USD) | $0 for brokerage | $0 for standard accounts | |
| Assets Under Management(trillion USD) | $2.9 trillion | $11.8 trillion | |
| Total Assets (USD Trillions)(USD) | $3.45 trillion | — | — |
| Number of U.S. Branches(branches) | 4,250 | — | — |
| Minimum Balance for Interest Checking(USD) | $500 | — | — |
| J.D. Power Customer Satisfaction (2025)(score (out of 1000)) | 724 points | — | — |
| Major Regulatory Enforcement Actions (2020-2025)(actions) | 3 actions | — | — |
| Average APY on Savings (High-Yield Savings)(percent) | 4.35% APY | — | — |
| Monthly Checking Fee(USD) | $12 | — | — |
| Savings Account APY(%) | 0.01% - 0.04% | — | — |
| Physical Branches(locations) | 4,300+ | 200+ | |
| ATM Network Access(ATMs nationwide) | 15,000+ | — | — |
| Overdraft Fees(USD per occurrence) | $35 | — | — |
| Mobile App Rating (iOS)(stars (out of 5)) | 4.7/5 | — | — |
| Minimum Deposit to Open Account(USD) | $100 | — | — |
| Total Assets(billions USD) | $3.45 trillion | — | — |
| U.S. Branch Count(branches) | 4,200 branches | — | — |
| ATM Network Size(ATMs) | 16,000 ATMs | — | — |
| Average Monthly Checking Account Fee(USD) | $17.50 average | — | — |
| Customer Satisfaction Score(out of 5) | 68/100 | — | — |
| Mobile Banking App Rating (iOS)(stars out of 5) | 4.1/5 stars | — | — |
| Mortgage Market Share(percentage) | 6.8% | — | — |
| Checking Account Monthly Fee(USD) | $12 (waivable) | $0 | |
| High-Yield Savings APY(%) | 0.01% | 4.55% | |
| Credit Card Approval Rate(%) | ~50% | — | — |
| Customer Satisfaction Score (J.D. Power 2025)(points) | 759 | — | — |
| High-Yield Savings Account APY(%) | 0.01% | — | — |
| Monthly Maintenance Fee(USD) | $12 (waivable) | — | — |
| Overdraft Fee per Occurrence(USD) | $35 | — | — |
| Physical Branch Locations(locations) | 4,300+ | — | — |
| Surcharge-Free ATM Network(ATMs) | 64,000+ | — | — |
| Customer Satisfaction Score (JD Power 2024)(points (1,000 max)) | 751 | — | — |
| Auto Loan APR (Average)(%) | 5.89% | — | — |
| Minimum for Premium Checking/Advisory(USD) | $100,000 | $50,000 | |
| Savings Account APY Range(percent) | 0.01%-0.04% | 0.42%-0.48% | |
| Robo-Advisor Minimum(USD) | $25,000 | $0 | |
| Commission on Stock Trades(USD) | Free | Free | |
| Minimum Account Balance(USD) | None | None | |
| Funded Customers(millions) | ~12-15 (estimated) | ~12-15 (estimated) | |
| Total Platform Assets(billions USD) | $11,900+ (AUM) | $11,900+ (AUM) | |
| Retirement Account Types(count) | Comprehensive (Traditional, Roth, SEP, Solo 401k) | Comprehensive (Traditional, Roth, SEP, Solo 401k) | |
| Minimum Account Balance(USD) | $0 | $0 | |
| Minimum Initial Investment(USD) | $0 | $0 | |
| Average Mutual Fund Expense Ratio(%) | 0.45% | 0.45% | |
| Stock Trading Commission(USD) | $0 | $0 | |
| Assets Under Management(Trillion USD) | $12.9T | $12.9T | |
| Number of ETFs Available(count) | 2,100+ | 2,100+ | |
| IRA Contribution Limit (2026)(USD) | $7,000 | $7,000 | |
| Average Expense Ratio (Index Funds)(%) | 0.25% | 0.25% | |
| Robo-Advisor Minimum Balance(USD) | $0 | $0 | |
| Number of Mutual Funds(count) | 3,500+ | 3,500+ | |
| ETF Universe Access(count) | 2,000+ | 2,000+ | |
| Account Opening Requirement(USD) | $0 | $0 | |
| Average Expense Ratio (Active Funds)(%) | 0.67% | 0.67% | |
| Robo-Advisor Annual Fee(%) | 0.35% | 0.35% | |
| Total Mutual Funds Available(count) | 5,000+ | 5,000+ | |
| Global Assets Under Management(trillion USD) | $12.9 trillion | $12.9 trillion | |
| Stock/ETF Trading Commission(USD) | $0 | $0 | |
| Account Types Offered(count) | 8+ (includes HSA, 529, Taxable) | 8+ (includes HSA, 529, Taxable) | |
| Minimum Initial Investment(USD) | $0 | $0 |
Sourced from publicly available data ·
Key Differences
7 attributes compared head-to-head
Fidelity leads2 ties
Bank of America
Attribute
Fidelity
- Retail/Commercial BankingPrimary Business FocusInvestment & Wealth Management
- 4,300+ branches(winner)Number of Physical Branches200+ branches
- $0 per tradeStock Trading Commission$0 per trade
- $12/month (waivable)Checking Account Monthly Fee$0 (no fee)(winner)
- $2.9 trillionAssets Under Management$11.8 trillion(winner)
- $100,000 (Preferred Rewards)Minimum Account Balance for Premium Services$50,000 (Fidelity Go)(winner)
- IRAs, 401(k)s (limited)Retirement Account OptionsIRAs, 401(k)s, SEP-IRAs, Solo 401(k)s(winner)
- Primary Business Focus
Bank of America
Retail/Commercial Banking
Fidelity
Investment & Wealth Management
- Number of Physical Branches
Bank of America
4,300+ branches(winner)
Fidelity
200+ branches
- Stock Trading Commission
Bank of America
$0 per trade
Fidelity
$0 per trade
- Checking Account Monthly Fee
Bank of America
$12/month (waivable)
Fidelity
$0 (no fee)(winner)
- Assets Under Management
Bank of America
$2.9 trillion
Fidelity
$11.8 trillion(winner)
- Minimum Account Balance for Premium Services
Bank of America
$100,000 (Preferred Rewards)
Fidelity
$50,000 (Fidelity Go)(winner)
- Retirement Account Options
Bank of America
IRAs, 401(k)s (limited)
Fidelity
IRAs, 401(k)s, SEP-IRAs, Solo 401(k)s(winner)
Full Comparison
| Attribute | Bank of America | Fidelity |
|---|---|---|
| Total Physical Branches(branches) | 3,800 | — |
| Number of U.S. Branches(branches) | 4,250 | — |
| U.S. Branch Count(branches) | 4,200 branches | — |
| New Branches Opening (2026)(locations) | 165+ | — |
| Geographic Market Coverage (2026)(markets) | 63 markets | — |
| Premium Service Centers(centers) | 165+ full financial centers | — |
| Best Travel Rewards Card(points per $1) | Bank of America Premium Rewards (1.5x points) | — |
| Credit Card APR Range(%) | 15.99% - 27.99% | — |
| Credit Card Approval Rate(%) | ~50% | — |
| Digital Engagement Value(billions USD) | $30 billion client interactions | — |
| AI-Driven Personalization(capability level) | Advanced AI-personalized solutions | — |
| Mobile App Rating(stars) | 4.3 stars | 4.7 stars(winner) |
| Credit Card Rewards Program Depth(redemption options) | Standard rewards catalog (5-7 categories) | — |
| Top Credit Card Cashback Rate(percent) | 3.5% preferred categories | — |
| Investment Advisory Services(capability level) | Comprehensive wealth management focus | — |
| Mobile App User Rating(stars) | Highly rated with AI integration | — |
| Mobile App Users(millions) | 38 million users | — |
| Checking Account Minimum Balance(USD) | Varies by account type ($500-$10,000) | — |
| Minimum Checking Balance(USD) | $500-$2,500 | — |
| Account Minimum Requirement(USD) | $0 for brokerage | $0 for standard accounts |
| Minimum Balance for Interest Checking(USD) | $500 | — |
| Minimum Deposit to Open Account(USD) | $100 | — |
Show 2 more attributesMinimum for Premium Checking/Advisory(USD) $100,000 $50,000 Minimum Initial Investment(USD) $0 — | ||
| Overall Customer Satisfaction Score(competitive ranking) | Competitive with digital strengths | — |
| Total Assets Under Management(trillions USD) | BofA: $3.6T | — |
| Credit Rating (S&P Global)(rating) | AA- | — |
| Physical Branches(count) | 4,300 branches | — |
| ATM Network Size(count) | 16,000+ ATMs | — |
| Physical Locations(branches) | 4,200+ branches(winner) | 200+ locations |
| Physical Branches(locations) | 4,300+(winner) | 200+ |
| ATM Network Access(ATMs nationwide) | 15,000+ | — |
Show 5 more attributesATM Network Size(ATMs) 16,000 ATMs — Surcharge-Free ATM Network(ATMs) 64,000+ — Minimum Account Balance(USD) None — Minimum Account Balance(USD) $0 — Minimum Initial Investment(USD) $0 — | ||
| Q1 2026 Net Income(billions USD) | $7.3 billion | — |
| Wealth Management Assets(trillions USD) | $2.9 trillion | — |
| Monthly Checking Account Fee(USD) | $12 | — |
| Overdraft Fee(USD) | $35 per transaction | — |
| Monthly Checking Fee(USD) | $12 | — |
| Monthly Maintenance Fee(USD) | $12 (waivable) | — |
| Overdraft Fee per Occurrence(USD) | $35 | — |
| Auto Loan APR (Prime borrower)(%) | 6.49% | — |
| Auto Loan APR Range(%) | 5.24% - 9.99% | — |
| CD Rate (12-month)(%) | 4.10% | — |
| Total Assets Under Management(billion USD) | $2,950 billion | — |
| Funded Customers(millions) | ~12-15 (estimated) | — |
| Total Platform Assets(billions USD) | $11,900+ (AUM) | — |
| Global Assets Under Management(trillion USD) | $12.9 trillion | — |
| Stock Trading Commission(USD per trade) | $0 | $0 |
| Mutual Fund Selection(funds) | 5,000+ | 9,000+(winner) |
| Assets Under Management(trillion USD) | $2.9 trillion | $11.8 trillion(winner) |
| Total Assets (USD Trillions)(USD) | $3.45 trillion | — |
| Total Assets(billions USD) | $3.45 trillion | — |
| J.D. Power Customer Satisfaction (2025)(score (out of 1000)) | 724 points | — |
| Major Regulatory Enforcement Actions (2020-2025)(actions) | 3 actions | — |
| Average APY on Savings (High-Yield Savings)(percent) | 4.35% APY | — |
| High-Yield Savings APY(%) | 0.01% | 4.55%(winner) |
| Savings Account APY(%) | 0.01% - 0.04% | — |
| Overdraft Fees(USD per occurrence) | $35 | — |
| Mobile App Rating (iOS)(stars (out of 5)) | 4.7/5 | — |
| Average Monthly Checking Account Fee(USD) | $17.50 average | — |
| Commission on Stock Trading | Free | — |
| Customer Satisfaction Score(out of 5) | 68/100 | — |
| Customer Satisfaction Score (J.D. Power 2025)(points) | 759 | — |
| Customer Satisfaction Score (JD Power 2024)(points (1,000 max)) | 751 | — |
| Mobile Banking App Rating (iOS)(stars out of 5) | 4.1/5 stars | — |
| Mortgage Market Share(percentage) | 6.8% | — |
| Checking Account Monthly Fee(USD) | $12 (waivable) | $0(winner) |
| Investment/Brokerage Platform | Merrill Edge + full advisory | — |
| Professional Advisory Available(boolean) | Yes (fee-based and robo) | — |
| Account Types Available | Trading, banking, planning, wealth mgmt | — |
| High-Yield Savings Account APY(%) | 0.01% | — |
| Physical Branch Locations(locations) | 4,300+ | — |
| Auto Loan APR (Average)(%) | 5.89% | — |
| Savings Account APY Range(percent) | 0.01%-0.04% | 0.42%-0.48%(winner) |
| Robo-Advisor Minimum(USD) | $25,000 | $0(winner) |
| Average Expense Ratio(%) | ~0.10% (0% on Zero funds) | — |
| Commission on Stock Trades(USD) | Free | — |
| Average Expense Ratio (Index Funds)(%) | 0.25% | — |
| Average Expense Ratio (Active Funds)(%) | 0.67% | — |
| Robo-Advisor Annual Fee(%) | 0.35% | — |
| Cryptocurrency Products(count) | Growing with stablecoin FIDD | — |
| Retirement Account Types(count) | Comprehensive (Traditional, Roth, SEP, Solo 401k) | — |
| International Trading(availability) | Comprehensive global access | — |
| Options Trading(availability) | Available | — |
| Research Tools Quality(tier) | Professional-grade, free for most | — |
| Research Tools Depth | Extensive library | — |
| 2025 Revenue(billion USD) | Market leader (private) | — |
| Cryptocurrency Support | Limited | — |
| AI/Digital Planning Tools | Advanced (Monarch Money, Fiscal.ai) | — |
| Robo-Advisor Minimum Balance(USD) | $0 | — |
| Mobile App Experience | Strong but complex | — |
| Average Mutual Fund Expense Ratio(%) | 0.45% | — |
| Stock Trading Commission(USD) | $0 | — |
| Assets Under Management(Trillion USD) | $12.9T | — |
| Number of ETFs Available(count) | 2,100+ | — |
| IRA Contribution Limit (2026)(USD) | $7,000 | — |
| Number of Mutual Funds(count) | 3,500+ | — |
| ETF Universe Access(count) | 2,000+ | — |
| Customer Service Availability(hours/week) | 168 (24/7) | — |
| Account Opening Requirement(USD) | $0 | — |
| Total Mutual Funds Available(count) | 5,000+ | — |
| Stock/ETF Trading Commission(USD) | $0 | — |
| Account Types Offered(count) | 8+ (includes HSA, 529, Taxable) | — |
Bank of AmericaFidelityTotal Physical Branches(branches)
3,800
—
Number of U.S. Branches(branches)
4,250
—
U.S. Branch Count(branches)
4,200 branches
—
New Branches Opening (2026)(locations)
165+
—
Geographic Market Coverage (2026)(markets)
63 markets
—
Premium Service Centers(centers)
165+ full financial centers
—
Best Travel Rewards Card(points per $1)
Bank of America Premium Rewards (1.5x points)
—
Credit Card APR Range(%)
15.99% - 27.99%
—
Credit Card Approval Rate(%)
~50%
—
Digital Engagement Value(billions USD)
$30 billion client interactions
—
AI-Driven Personalization(capability level)
Advanced AI-personalized solutions
—
Mobile App Rating(stars)
4.3 stars
4.7 stars
Credit Card Rewards Program Depth(redemption options)
Standard rewards catalog (5-7 categories)
—
Top Credit Card Cashback Rate(percent)
3.5% preferred categories
—
Investment Advisory Services(capability level)
Comprehensive wealth management focus
—
Mobile App User Rating(stars)
Highly rated with AI integration
—
Mobile App Users(millions)
38 million users
—
Checking Account Minimum Balance(USD)
Varies by account type ($500-$10,000)
—
Minimum Checking Balance(USD)
$500-$2,500
—
Account Minimum Requirement(USD)
$0 for brokerage
$0 for standard accounts
Minimum Balance for Interest Checking(USD)
$500
—
Minimum Deposit to Open Account(USD)
$100
—
Show 2 more attributes
Minimum for Premium Checking/Advisory(USD)
$100,000
$50,000
Minimum Initial Investment(USD)
$0
—
Overall Customer Satisfaction Score(competitive ranking)
Competitive with digital strengths
—
Total Assets Under Management(trillions USD)
BofA: $3.6T
—
Credit Rating (S&P Global)(rating)
AA-
—
Physical Branches(count)
4,300 branches
—
ATM Network Size(count)
16,000+ ATMs
—
Physical Locations(branches)
4,200+ branches
200+ locations
Physical Branches(locations)
4,300+
200+
ATM Network Access(ATMs nationwide)
15,000+
—
Show 5 more attributes
ATM Network Size(ATMs)
16,000 ATMs
—
Surcharge-Free ATM Network(ATMs)
64,000+
—
Minimum Account Balance(USD)
None
—
Minimum Account Balance(USD)
$0
—
Minimum Initial Investment(USD)
$0
—
Q1 2026 Net Income(billions USD)
$7.3 billion
—
Wealth Management Assets(trillions USD)
$2.9 trillion
—
Monthly Checking Account Fee(USD)
$12
—
Overdraft Fee(USD)
$35 per transaction
—
Monthly Checking Fee(USD)
$12
—
Monthly Maintenance Fee(USD)
$12 (waivable)
—
Overdraft Fee per Occurrence(USD)
$35
—
Auto Loan APR (Prime borrower)(%)
6.49%
—
Auto Loan APR Range(%)
5.24% - 9.99%
—
CD Rate (12-month)(%)
4.10%
—
Total Assets Under Management(billion USD)
$2,950 billion
—
Funded Customers(millions)
~12-15 (estimated)
—
Total Platform Assets(billions USD)
$11,900+ (AUM)
—
Global Assets Under Management(trillion USD)
$12.9 trillion
—
Stock Trading Commission(USD per trade)
$0
$0
Mutual Fund Selection(funds)
5,000+
9,000+
Assets Under Management(trillion USD)
$2.9 trillion
$11.8 trillion
Total Assets (USD Trillions)(USD)
$3.45 trillion
—
Total Assets(billions USD)
$3.45 trillion
—
J.D. Power Customer Satisfaction (2025)(score (out of 1000))
724 points
—
Major Regulatory Enforcement Actions (2020-2025)(actions)
3 actions
—
Average APY on Savings (High-Yield Savings)(percent)
4.35% APY
—
High-Yield Savings APY(%)
0.01%
4.55%
Savings Account APY(%)
0.01% - 0.04%
—
Overdraft Fees(USD per occurrence)
$35
—
Mobile App Rating (iOS)(stars (out of 5))
4.7/5
—
Average Monthly Checking Account Fee(USD)
$17.50 average
—
Commission on Stock Trading
Free
—
Customer Satisfaction Score(out of 5)
68/100
—
Customer Satisfaction Score (J.D. Power 2025)(points)
759
—
Customer Satisfaction Score (JD Power 2024)(points (1,000 max))
751
—
Mobile Banking App Rating (iOS)(stars out of 5)
4.1/5 stars
—
Mortgage Market Share(percentage)
6.8%
—
Checking Account Monthly Fee(USD)
$12 (waivable)
$0
Investment/Brokerage Platform
Merrill Edge + full advisory
—
Professional Advisory Available(boolean)
Yes (fee-based and robo)
—
Account Types Available
Trading, banking, planning, wealth mgmt
—
High-Yield Savings Account APY(%)
0.01%
—
Physical Branch Locations(locations)
4,300+
—
Auto Loan APR (Average)(%)
5.89%
—
Savings Account APY Range(percent)
0.01%-0.04%
0.42%-0.48%
Robo-Advisor Minimum(USD)
$25,000
$0
Average Expense Ratio(%)
~0.10% (0% on Zero funds)
—
Commission on Stock Trades(USD)
Free
—
Average Expense Ratio (Index Funds)(%)
0.25%
—
Average Expense Ratio (Active Funds)(%)
0.67%
—
Robo-Advisor Annual Fee(%)
0.35%
—
Cryptocurrency Products(count)
Growing with stablecoin FIDD
—
Retirement Account Types(count)
Comprehensive (Traditional, Roth, SEP, Solo 401k)
—
International Trading(availability)
Comprehensive global access
—
Options Trading(availability)
Available
—
Research Tools Quality(tier)
Professional-grade, free for most
—
Research Tools Depth
Extensive library
—
2025 Revenue(billion USD)
Market leader (private)
—
Cryptocurrency Support
Limited
—
AI/Digital Planning Tools
Advanced (Monarch Money, Fiscal.ai)
—
Robo-Advisor Minimum Balance(USD)
$0
—
Mobile App Experience
Strong but complex
—
Average Mutual Fund Expense Ratio(%)
0.45%
—
Stock Trading Commission(USD)
$0
—
Assets Under Management(Trillion USD)
$12.9T
—
Number of ETFs Available(count)
2,100+
—
IRA Contribution Limit (2026)(USD)
$7,000
—
Number of Mutual Funds(count)
3,500+
—
ETF Universe Access(count)
2,000+
—
Customer Service Availability(hours/week)
168 (24/7)
—
Account Opening Requirement(USD)
$0
—
Total Mutual Funds Available(count)
5,000+
—
Stock/ETF Trading Commission(USD)
$0
—
Account Types Offered(count)
8+ (includes HSA, 529, Taxable)
—
Pros & Cons
10 pros·6 cons across both
Bank of America
+5-3
Pros
- 4,300+ physical branches nationwide for in-person banking
- Integrated checking, savings, credit cards, mortgages, and investments in one platform
- Bank of America Preferred Rewards program provides 0.10%-0.50% APY boost on savings
- Strong commercial banking and lending services
- Mobile app rated 4.5/5 stars with 8M+ reviews
Cons
- $12/month checking account fee (waived with $1,500+ daily balance or direct deposit)
- Lower investment research quality compared to specialized brokers
- Limited retirement account options compared to dedicated investment platforms
Fidelity
+5-3
Pros
- Zero account fees for checking and brokerage accounts
- Industry-leading $0 stock/ETF/mutual fund commissions since 2019
- Exceptional research tools: Morningstar ratings, detailed analyst reports, screeners
- $11.8 trillion in AUM — largest independent investment firm in U.S.
- Lower account minimums: Fidelity Go robo-advisor starts at $0, advisory at $50,000
Cons
- Only 200+ physical locations — limited walk-in access compared to traditional banks
- No traditional mortgage or auto loan origination
- More complex interface may overwhelm casual investors
Frequently Asked Questions
5 questions
No. Bank of America excels at traditional banking (checking, savings, lending, mortgages) but has limited investment research and fewer retirement account options. Fidelity specializes in self-directed investing, retirement planning, and advanced trading tools. For serious investing, Fidelity offers superior tools; for basic banking, BofA is adequate but not specialized.
Resources & Learn More
Curated sources to dive deeper
Wikipedia
- W
Bank of America on Wikipedia (opens in new tab)
Full-service retail and commercial bank with extensive branch network and integrated investment services.
- W
Fidelity on Wikipedia (opens in new tab)
Investment-centric financial services firm managing $11.8 trillion in assets with low-cost trading and retirement solutions.
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Is State Farm or Farmers Cheaper for Home Insurance?
State Farm is generally cheaper than Farmers for home insurance — averaging $1,300–$1,500/year vs. $1,500–$1,800/year. But rates vary by state, home age, and risk profile. Here's when each insurer wins on price.
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