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

While big banks tend to offer a lot of similar products, they have important differences that you can use to determine which one is right for you. If you’re deciding between the two biggest banks in the country, JPMorgan Chase and Bank of America, look at the details like branch locations, account offerings and fees.

[Best Bank Account Bonuses in 2025]

About Chase

Chase reigns as the king of banking in the U.S. As of December 2024, it is the biggest bank in the country with over $3.4 trillion in total assets. Chase’s history dates back to the founding of The Manhattan Co. in 1799. The water company, whose founders included Alexander Hamilton and Aaron Burr, was allowed to earmark its surplus money for banking operations. Over the years, Chase’s predecessor banks evolved. In the 2000s the organization’s growth really took off with the formation of J.P. Morgan Chase & Co., thanks to the 2000 merger of J.P. Morgan & Co. and Chase Manhattan Corp., along with subsequent acquisitions of Bank One, Washington Mutual and First Republic Bank.

About Bank of America

Bank of America dates back to 1904, when Amadeo Peter Giannini founded the Bank of Italy in San Francisco. In the 1930s, the bank switched its name to Bank of America. At the time of Giannini’s death in 1949, Bank of America was the world’s largest bank, boasting $6 billion in assets and more than 500 branches. As of December 2024, Bank of America ranked as the second-largest bank in the U.S., with over $2.5 trillion in total assets.

Chase vs. Bank of America: Checking

Chase and Bank of America provide several kinds of checking accounts. Chase’s basic checking account is Secure Checking, and Bank of America’s basic checking account is Advantage SafeBalance Banking. The accounts are similar, but Chase’s account has no minimum opening deposit and Bank of America’s account allows wire transfers.

[Read: Best Checking Accounts.]

Chase vs. Bank of America: Savings

The basic savings accounts at Chase and Bank of America don’t pay high annual percentage yields. If you’re trying to decide between a basic savings account at Chase or Bank of America, Chase might be your best option, thanks to the lack of a minimum opening deposit and a lower monthly maintenance fee.

[Read: Best Savings Accounts.]

Chase vs. Bank of America: CDs

Chase and Bank of America’s basic certificates of deposit aren’t much different from each other, except you might earn a higher APY with Bank of America’s Fixed Term CD.

[Read: Best CD Rates.]

Chase vs. Bank of America: Fees

The fees listed below apply to most Chase and Bank of America deposit accounts, though fees and features may vary based on which account you choose.

Which Bank Is Right for Me?

Chase is best if you would like:

— Access to more branches

— No minimum opening deposit for checking or savings

— Lower monthly maintenance fee for savings

Bank of America is best if you would like:

— Higher APYs on CDs

— Potentially lower ATM fees

— Lower wire transfer fees in some cases