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.
About Chase
Chase reigns as the king of banking in the U.S. It is the biggest bank in the country with over $3.7 trillion in total assets as of December 2025. 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. Bank of America ranks as the second-largest bank in the U.S., with over $2.6 trillion in total assets as of December 2025.
| Chase | Bank of America | |
| Size (in deposits) | $3.7 trillion | $2.6 trillion |
| Number of branches | More than 5,000 | About 3,600 |
| Number of ATMs | More than 15,000 | About 15,000 |
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.
| Chase | Bank of America | |
| Checking account name | Chase Secure Checking | Advantage SafeBalance Banking |
| Minimum opening deposit | $0 | $25 |
| Monthly maintenance fee | $4.95 ($0 fee with qualifying electronic deposits totaling $250 or more per statement period) | $4.95 (or $0 with minimum daily balance of at least $500, if account holder is under age 25 or if account owner is member of Preferred Rewards program) |
| Payment options | Debit card, online bill pay, mobile bill pay, Zelle | Debit card, online bill pay, mobile bill pay, Zelle, wire transfer |
| Overdraft protection | No overdraft 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 bring your balance to overdrawn by $50 or less at the end of the next business day. | No overdraft fee |
[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.
| Chase | Bank of America | |
| Account name | Chase Savings | Advantage Savings |
| Minimum opening deposit | $0 | $100 |
| Monthly maintenance fee | $5 (or $0 if you meet certain conditions) | $8 (or $0 if you meet certain conditions) |
| Average percentage yield (APY) | 0.01% | 0.01% |
[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.
| Chase | Bank of America | |
| Terms | 1 month-10 years | 28 days-10 years |
| Minimum opening deposit | $1,000 | $1,000 |
| Annual percentage yield (APY) | 0.01%; higher APYs available for customers with linked Chase personal checking account | 0.03%-3.25%, depending on balance and term |
[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.
| Chase | Bank of America | |
| ATM fee | $0 at Chase ATMs; $3-$5 at non-Chase ATMs | $0 at Bank of America ATMs; $2.50 per transaction for non-bank ATMs in U.S.; $5 per transaction for non-bank ATMs outside U.S. |
| Foreign transaction fee for debit card | 3% | 3% for transactions in foreign currency; $0 for transactions in U.S. dollar |
| Overdraft fee | $0 | $0 |
| Incoming wire fee | $15, or $0 if transfer was originally sent with help from a Chase banker or when using chase.com or Chase mobile | $15 |
| Outgoing wire fee (domestic) | $25 online or through mobile; $35 with help from Chase banker | $30 |
| Outgoing wire fee (foreign) | $0, $5, $40 or $50, depending on circumstances | $0 for foreign wire transfer sent in foreign currency (exchange rate markups apply); $45 for foreign wire transfer sent in U.S. dollars |
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
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Chase vs. Bank of America: Which Bank Is Best for You? originally appeared on usnews.com
Update 04/16/26: This story was previously published at an earlier date and has been updated with new information.
