Chase vs. Bank of America: Which Bank Is Better for You?

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Chase and Bank of America represent two of the largest banking operations in the world. For those people who prefer the convenience of having plenty of locations and ATMs close by — even when they’re out of town — deciding between these two options can be tough.

You want a bank that’s best suited to your needs, but the differences between having an account with Chase vs. Bank of America aren’t always completely clear. To help you understand why one or the other might be right for you, here’s a closer look at what each bank has to offer.

Chase vs. Bank of America: Account Comparison

Of course, for many consumers, picking a bank is more about comparing the numbers than anything else. Here’s a closer look at the different options for accounts offered at each and how they compare.

For savings and checking accounts for both Bank of America and Chase, there are several ways to waive the monthly maintenance fees associated with the accounts, most of which involve some combination of maintaining a large enough balance, making regular direct deposits or having other types of accounts with the same bank.

Chase vs. Bank of America: Checking Accounts

Both bank’s checking accounts come with monthly maintenance fees that can be waived”. Both offer overdraft protection without transfer fees. Only Bank of America offers interest, but you’ll have to maintain a pretty high account balance to earn it.

Chase Checking Accounts

Chase offers five checking accounts: Chase Total Checking, Chase Secure Banking, Chase Premier Plus Checking, Chase Sapphire Banking, and Chase Private Client Checking.

• Monthly Fees: $4.95, $12, or $25 depending on the account — all waivable under certain conditions.
• No minimum deposit is required to open an account.

A few standout features worth knowing:

• Chase Overdraft Assist. Available with Chase Total Checking, this program waives overdraft fees if your account is overdrawn by $50 or less.
• No fees on money orders or cashier’s checks. A small but useful perk that other banks often charge for.
• Zelle built in. Send and receive money instantly without leaving the Chase app.
• Free bill pay. Chase Online Bill Pay lets you pay bills directly from your account at no charge.

Bank of America Checking Accounts

Bank of America offers three checking accounts: Advantage SafeBalance Banking®, Advantage Plus Banking®, and Advantage Relationship Banking®.

• Monthly Fees: $4.95, $12, or $25 depending on the account — all waivable under certain conditions.
• Minimum deposits to open vary by account: $25 for Advantage SafeBalance® and $100 for Advantage Plus or Relationship.

A few things that set these accounts apart:

• Interest on your balance. The Advantage Relationship account earns interest, which the other tiers don’t offer.
• Paper checks. Available with Advantage Plus and Relationship accounts — SafeBalance does not include check-writing.
• Balance Connect® overdraft protection. Links to another Bank of America account to cover overdrafts automatically, with no transfer fee.
• Zelle compatible. Send and receive money directly through the Bank of America app.

Chase vs. Bank of America: Savings Accounts

Neither Chase nor Bank of America will wow you with their savings rates — both fall well below the national average of 0.41%. Bank of America does offer a higher rate, but you’ll need to qualify for the Platinum Honors Tier to get it, which requires maintaining a balance of at least $100,000 for three consecutive months. For most everyday savers, the rates at both banks are comparable.

Chase Savings Accounts

Chase offers two savings accounts: Chase Savings and Chase Premier Savings.

• No minimum opening deposit is required for either account, making them easy to get started with.
• Monthly fees range from $5 to $25 depending on the account, but can be waived under certain conditions.
• Autosave is a built-in feature that lets you set up automatic transfers from checking to savings, helping you build your balance without thinking about it.

Both accounts are fully accessible through Chase’s online and mobile banking platforms.

Bank of America Advantage Savings

Bank of America’s Advantage Savings account is straightforward, with a few perks for those who maintain higher balances.

• A $100 minimum opening deposit is required to get started.
• Monthly maintenance fee is $8, but can be waived under certain conditions.
• Automatic savings tools are available to help you set aside money on a regular schedule.
• No overdraft fees apply to this account, which is a useful safety net.

The account is fully accessible through Bank of America’s online and mobile banking platforms.

Chase vs. Bank of America: CDs

Both Chase and Bank of America require a $1,000 minimum deposit to open a CD and offer automatic renewals at the end of each term. The biggest difference between the two is term length — Chase gives you significantly more flexibility, while Bank of America offers a more curated selection of options.

Chase CDs

Chase offers two rate tiers for its CDs: relationship rates for existing Chase customers and standard rates for everyone else. Existing customers typically get the better deal.

• Minimum deposit: $1,000
• Terms available: 1 month to 120 months (17 options total)
• Automatic renewal at the end of each term, with a grace period to make changes.

The wide range of term options makes Chase a strong choice if you want flexibility in how long you lock up your money.

Bank of America CDs

Bank of America offers two types of CDs: Featured CDs, which tend to carry more competitive rates, and Fixed Term CDs for standard savings goals.

• Minimum deposit: $1,000
• Terms available: 28 days to 37 months for Featured CDs; up to 10 years for Fixed Term CDs
• Automatic renewal at the end of each term, with a grace period to make changes.

Bank of America’s CD selection is more limited in term length than Chase’s, but Featured CDs can be worth a look if you’re after a competitive short- to mid-term rate.

Chase vs. Bank of America: Rate Comparison

Neither Bank of America nor Chase offers especially competitive rates on savings accounts, but it’s still important to compare your options to see what to expect. Here are the available annual percentage yields, or APYs.

Chase vs. Bank of America: Fee Comparison

A few things worth noting when comparing fees across both banks: monthly maintenance fees at both Chase and Bank of America can typically be waived by meeting requirements like maintaining a minimum balance or setting up direct deposit. Chase has a slight edge on overdraft fees at $34 versus Bank of America’s $35, and Chase also comes out ahead on cashier’s checks and debit card replacements. Bank of America keeps its fee structure simpler with fewer monthly fee tiers.

Which Is Right for You: Bank of America or Chase Bank?

Chase and Bank of America, Member FIDC, are quite similar in most respects, including their five-star ratings from Bauer Financial, putting them in the Superior category and earning Bauer’s recommendation. Most customers are unlikely to be more satisfied with one over the other.

But if you’re trying to decide which bank to go with, you might be well-served by selecting the one with the most convenient locations to your home and/or work — chances are, that’s Chase because it has more branches. However, Chase has higher overdraft fees, which could get expensive for customers who don’t have a linked savings account.

Daria Uhlig contributed to the reporting for this article.

Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of April 1, 2026

$12 or $0 with one of the following, each monthly statement period:

Electronic deposits made into this account totaling $500 or more, such as payments from payroll providers or government benefit providers, by using (i) the ACH network, (ii) the Real Time Payment or FedNow^SM network, (iii) third party services that facilitate payments to your debit card using the Visa® or Mastercard® network,

OR a balance at the beginning of each day of $1,500 or more in this account,

OR an average beginning day balance of $5,000 or more in any combination of this account and linked qualifying Chase checking, savings, and other balances.

*With Chase Overdraft Assist^SM, Chase won’t charge an insufficient funds fee if you’re overdrawn by $50 or less at the end of the business day, or if you’re overdrawn by more than $50 and you bring your account balance to overdrawn by $50 or less at the end of the next business day (you have until 11 p.m. ET, or 8 p.m. PT, to make a deposit or transfer). Chase Overdraft Assist does not require enrollment and comes with eligible Chase checking accounts.

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