Bank of America vs. Chase: which one to choose

bank of America Monthly fee: $12 Minimum opening deposit: $100. chase Monthly fee: $12 Minimum opening deposit: $0.

Bank of America Advantage Savings Interest rate: 0.01% APY on all balances for standard accounts. Monthly fee: $8 Chase Savings Interest rate: 0.01% APY Monthly fee: $5

Bank of America details Overdraft fee: $35, maximum of four per day. Overdraft protection transfer fee: $12. Branches: About 4,200. ATMs: About 16,000. Customer service: Available by phone 8 a.m.-11 p.m. ET, Monday-Friday, 8 a.m.-8 p.m. ET on weekends.

chase details Overdraft fee: $34, maximum of three per day. No charge if an account is overdrawn by $50 or less at end of the day. Overdraft protection transfer fee: $0. Branches: More than 4,700. ATMs: 16,000.

Customer service: Available by phone 7 a.m.-12 a.m. ET, Monday-Friday, 8 a.m.-8 p.m. ET on weekends.

You should choose a bank of America if, To avoid paying the monthly checking account charge, you want a lower monthly deposit minimum. To increase your savings, you want a program that automatically rounds up.

You should choose chase if, For some services, you want reduced prices. Less initial money must be deposited for checking and savings.

To avoid paying the monthly savings account charge, you wish to lower the daily balance minimum.

If you prefer to conduct your banking in person, both Chase and Bank of America will satisfy your needs, however, Chase does provide the chance to receive a greater incentive for creating a new checking account.