chase vs. bank of america?

I currently have a chase checking account and I'm not sure whether to switch to BOA.....

I compared them on their website

https://www.bankofamerica.com/deposits/i%E2%80%A6

https://www.chase.com/online/Checking/ch%E2%80%A6

but I don't know what they're talking about really :\ I know I'm not that bright -__-

which do you think is better???

anywasy reason I'm only choosing between these 2 is because they are the only banks near where I live, no others so :\

4 Answers

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  • 9 years ago
    Favorite Answer

    You ARE bright enough to ask for help with a difficult problem. Finance is difficult for most people, not just you.

    First you need to look at the totality of both bank’s services, accounts, and fees. Every bank and credit union offers several accounts with different features and different fees. Some banks may have low overdraft fees, but high fees in other areas. Some accounts waive all fees if you maintain a minimum balance. The minimum balance varies from bank to bank. For example Bank of America in Texas sets its minimum balance for its checking accounts at $5,000 to avoid monthly maintenance fees. Other accounts have a monthly fee, but no fee on each transaction. Other accounts have no monthly fee, but a fee for each transaction.

    Some banks have a large number of ATMs which you can use without a charge. Other banks have a charge for ATMs.

    I suggest that you visit both banks. If there are credit unions in your area visit those also. Speak to the customer service personnel. Bring a written list of questions which are important to you. Find out the features and charges of each of their accounts. Find out how many ATMs are available, and whether there is a service charge for using the ATM.

    Ask for a written list of each one of their fees. Ask the customer service person to explain what the fee is and when it applies. For example, an NSF fee (bounced check) fee applies if you write a check and you don't have enough money in your account to cover the fee. Ask about maintenance fees. Is the maintenance fee based on the average balance for the month or whenever your balance falls below the minimum, even if it's just for one day? If the customer service person is not willing to take the time to explain the fees and benefits of each account, then ask to speak to the bank manager. If you don't understand any of the terms the customer service person uses, ask him to explain it in simple terms. Remember, it is THEIR responsibility to explain everything in terms you can understand. If they try to intimidate you by using technical language, walk out.

    Make sure you get everything in writing. Do not accept anything the customer service person tells you verbally.

    If you have any questions about bank accounts, just click on my avatar, and I'll help you as much as I can.

    Source(s): I have a degree in accounting. I deal with banks a lot.
  • Kerry
    Lv 6
    9 years ago

    is there no credit union around you vs these banks? thats who you should always align yourself

    with and kieep away from banks/they are not your friend. if you are stuck w/these two, they're

    pretty much the same in all respcts. only you can answer what its going to cost you in being with

    one of em cuz you know what your business w/them is going to be ....again if there is a CU around,

    dont even darken the door ways of these two....CU are non profilt ..member owned...lower fees, far

    more flexible and just as safe as banks. do the due dilligence here to make the best decision

    for your self..if need be, to the buildings and sit down and ask questions to see which is going

    to stay outta your wallet more.

  • Well whoever has free banking get them. But in the case if they both do get bank of America they have good personal loan policy.

  • alesia
    Lv 4
    4 years ago

    It depends on many things

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