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Bank Of America- Offering Matchless Banking Services

The Bank of America is one of the oldest banks in the United State of America. It is a huge mortgage loan provider and the overall third largest bank in the US. However, it is the largest commercial bank in the United States measured in deposits.

Divisions

There are three main divisions of Bank of America today.

1. Consumer Division



• This is the largest division in the company under the head Global Consumer and Small Business Banking.



• It deals primarily with consumer banking and credit card issuance.



• This division of the Bank of America is so large that it competes directly with the retail banking divisions of Citigroup and JPMorgan Chase.



• It includes over 5,700 retail branches and over 17,000 ATMs across the United States.



2. Corporate Division



• This division is known as either Global Corporate and Investment Banking or Bank of America Securities.



• Its services include mergers and acquisitions advisory, underwriting, as well as trading in fixed income and equities markets.



• It has a strong group that includes Leveraged Finance, Syndicated Loans, and Mortgage Backed Securities.



• This division of Bank of America also has one of the largest research teams on Wall Street.



3. Investment Management



• The Global Wealth and Investment Management division of Bank of America manages assets of institutions and individuals.



• This division is among the 10 largest U.S. wealth managers.

The Online Banking of Bank of America

The Bank of America provides the facilities of online banking to all its customers who currently do business with the bank. It is very easy to set up an online banking account. What is more, it is completely free of cost. What gives Bank of America an edge over its competitors is the way it handles the bill payments. Unlike others, the bank does not require you to go through a lot of paper work for opening an account. The bank uses a program that already knows the billing addresses of the most commonly used payees.

How to set up a payee

In order to set up a payee, you can start by accessing the built-in list of payees that the Bank of America online banking program maintains. The program already stores the major names in the community and maintains their billing addresses and other details that most customers are likely to use. This list includes the details of electric, cable, and utility companies, area department stores and local major financial institutions. All you have to do is just to pick payee from the list. Enter your loan or account number and within the blink of an eye, the payee will be set up.

When will the Money be Deducted from Your Account?

The best thing with the Bank of America is that the payment is not debited from your account until the payment arrives at the payee billing address. However, this is not the case with the billing options, which other banks provide to its customers. They debit the money the day the payment is mailed not delivered. This way, you can earn interest on your money within the period that the payment takes to be delivered.

Bank of America Credit Cards

The Bank of America credit card is a card you can trust. You can find them at their website. The one of the most popular travel credit card the bank offers is the Bank of America MilesEdge card. These credit cards offer great features that include the following.

• It ensures the highest level of security and protection in the form of fraud protection.



• With this highest level of security, you will not be held responsible for unauthorized charges, such as when someone uses your card to make an unusual purchase.



• In case, your purchases on your Bank of America credit card are stolen or lost, you can report the loss within ninety day. You are likely to get the refund of the purchase price charged to your travel credit card.



• Using Bank of America credit card is convenient and hassle free.



• The credit card customer service of the Bank of America is another great feature. When you use your travel credit card anywhere in the world, it will be easily accepted wherever you go.



• The customer service is available to you twenty-four hours a day, seven days a week.



• If you do not want the hassle of a monthly paper bill, the automatic payments also make a great feature for you.



• You can also view your account activities all on one statement when you set up automatic payments for multiple credit cards.



• If you are short on funds, you can rely on travel credit card from Bank of America to give you cash at ATMs worldwide.

The Top Three Cards Offered by Bank of America

The Bank of America is one of the major players in commercial banking and lending. You can enjoy their High Standard services through a variety of products, including mortgages and checking or savings accounts. Apart from all other services, they also offer an uncommonly large pool of credit card options. The top three credit cards offered by Bank of America are following.

1. The Bank of America Platinum Visa

   It is popularly known as everyday credit card. This card offers a six-month interest free introductory period. You can also use these cards to accept initial and subsequent balance transfers with no additional fees.

2. The Bank of America Visa Signature with WorldPoints

   The Bank of America Visa Signature with WorldPoints is one of the great incentive programs for cardholders. It is a flexible incentive program, using which you can apply your purchases to a number of categories, such as cash back, travel, merchandise, or personal services. This credit card program also gives you a chance to receive an introductory 0% APR for the first twelve months of membership.

3. TripRewards MasterCard Credit Card

   TripRewards MasterCard Credit Card is one of the favorites for travelers. Some of its best features include 0% introductory APR on balance transfers. It also offers its customers a high-powered reward plan. You can earn 2 points for every $1 in net retail purchases and earn 13 points for every $1 spent for qualifying TripRewards hotel stays.

This way, we see that it is because of the virtually endless features of the Bank of America that makes it one of the most popular and largest banks in America.