Bank of America and Chase are two of the largest banks in the United States. Both offer checking accounts, savings accounts, credit cards, mortgages, and investment services. But they are not identical, and the right choice depends on your priorities. This guide breaks down Bank of America vs Chase across every major category so you can decide which bank fits your life in 2026.
Quick Overview: Bank of America vs Chase
| Feature | Bank of America | Chase |
|---|---|---|
| Checking monthly fee | $12 (waivable) | $12 (waivable) |
| Savings APY | 0.01% | 0.01% |
| ATM network | ~15,000 ATMs | ~16,000 ATMs |
| Branches nationwide | ~3,800 | ~4,700 |
| Credit card options | Good, strong cash back | Excellent, top travel rewards |
| Preferred Rewards / bonuses | Yes (tiered loyalty program) | Yes (relationship rates) |
| Zelle support | Yes | Yes |
| Mobile app rating | 4.8 App Store | 4.8 App Store |
Checking Accounts
Both banks charge a $12 monthly fee on their standard checking accounts, but both also make it easy to waive that fee. Bank of America waives it if you maintain a $1,500 minimum daily balance or set up qualifying direct deposits. Chase waives it with a $1,500 balance, direct deposits of $500 or more, or a Chase Savings account linkage.
If you keep a low balance and have inconsistent direct deposit, neither is free. Consider an online-only bank like Ally or SoFi if you want a truly fee-free checking account.
Winner: Tie
The fee structures are nearly identical. Chase edges ahead for branch access, especially in the Northeast and Midwest. Bank of America has a stronger presence in the Southeast.
Savings Accounts
Both Bank of America and Chase pay essentially nothing on their standard savings accounts. As of 2026, both offer around 0.01% APY, which is far below what online banks like Marcus, Ally, or Discover offer.
If earning interest on your savings is a priority, neither Bank of America nor Chase is the right choice for your savings account. Use them for checking and convenience, and park your savings elsewhere.
Winner: Neither (both are weak here)
ATMs and Branch Access
Chase has a slight advantage in branch count with about 4,700 locations versus Bank of America’s 3,800. Both banks cover most major metro areas and suburban markets. Chase has been aggressively expanding into new markets, so its coverage has grown significantly in recent years.
For ATM access, both networks are large and comparable. Neither charges fees at their own ATMs, and both charge $2.50 to $5.00 for out-of-network ATM use. If you travel internationally, Bank of America partners with a Global ATM Alliance that can reduce foreign ATM fees.
Winner: Chase (by a small margin for branch count)
Credit Cards
This is where Chase has a clear edge for most people. Chase’s credit card portfolio includes some of the most valuable cards available anywhere:
- Chase Sapphire Preferred: Best mid-tier travel card, strong sign-up bonus
- Chase Sapphire Reserve: Premium travel card with $300 travel credit
- Chase Freedom Unlimited: Excellent everyday cash back card
- Chase Freedom Flex: Rotating 5% categories
Bank of America’s credit cards are solid but less exciting for most consumers. The Customized Cash Rewards card lets you choose your bonus category (gas, dining, travel, etc.), which is useful. Preferred Rewards members earn 25% to 75% more rewards on Bank of America cards, which is a significant benefit if you keep large balances with them.
Winner: Chase for most people, Bank of America for Preferred Rewards members with large deposits
Preferred Rewards vs Chase Relationship Rates
Bank of America’s Preferred Rewards program is genuinely valuable if you keep significant balances in Bank of America and Merrill accounts. At the top tier (Platinum Honors, $100,000+ in assets), you get:
- 25% to 75% bonus rewards on credit cards
- No fees on certain services
- Discounts on mortgages and auto loans
Chase does not have a formal tiered rewards program like this, though relationship banking discounts exist for Private Client customers ($150,000+ in deposits).
Winner: Bank of America for customers with $50,000+ in combined assets
Mobile App and Digital Banking
Both apps are excellent and nearly indistinguishable in quality. Both allow check deposits, bill pay, Zelle transfers, spending insights, and account management. Both are rated 4.8 or higher on the App Store and Google Play.
Chase’s app has a slight edge in interface design and feature depth, but the difference is minor. Most customers will be equally happy with either.
Winner: Tie
Business Banking
If you run a business, both banks offer business checking, loans, and merchant services. Chase Business Checking is widely regarded as the better option for small businesses due to its lower fees, larger ATM network, and better small business credit card options (including the Ink Business series, which offers strong rewards).
Winner: Chase for small business owners
Mortgages and Loans
Both banks offer mortgages, home equity lines of credit, auto loans, and personal loans. Rates are competitive but not always the lowest available. For most borrowers, it is worth getting quotes from multiple lenders, including online lenders, before committing to either bank.
Bank of America Preferred Rewards members may get discounts on origination fees, which could tip the balance if you are already a high-tier customer.
Winner: Bank of America for existing Preferred Rewards customers
Who Should Choose Bank of America?
- You keep $50,000+ in combined banking and investment accounts
- You want to use Merrill Edge for investing and earn boosted credit card rewards
- You live in the Southeast or another region where Bank of America has stronger branch coverage
- You travel internationally and want access to the Global ATM Alliance
Who Should Choose Chase?
- You want the best credit card rewards and travel benefits
- You run a small business and want a strong business checking account
- You live in a region where Chase has more branches or ATMs
- You value a slightly more polished digital banking experience
The Bottom Line
For most everyday banking, Bank of America and Chase are more similar than different. Both charge fees that are easy to waive, both have large ATM networks, and both have strong mobile apps. Neither is the right place for your savings if you care about earning interest.
Chase wins for credit card rewards and branch count. Bank of America wins for customers who keep significant assets with them and want to leverage the Preferred Rewards program. If neither fits your needs perfectly, an online bank may be the better choice for savings while you use one of these two for everyday checking and convenience.