Savings Accounts
PNC high-yield savings accounts is our winner as it offers much higher rates compared to BofA savings account.
Bank of America's Rewards Savings account offers a feature called Keep the Change. This feature automatically saves by rounding up your purchases made with a Bank of America debit card. Additionally, Bank of America's mobile app allows convenient check deposits into your savings.
PNC offers a High Yield Savings account exclusively for eligible customers, featuring a competitive online-only rate and no required minimum deposit.
Additionally, PNC provides a Premiere Money Market account with tiered rates based on balance and eligibility for relationship rates. This account allows unlimited deposits and includes a debit card for account holders.
PNC Savings | PNC Money Market | BofA Savings | |
|---|---|---|---|
Savings Rate | 4.65%
The PNC High Yield Savings℠ account is only available to residents of Arizona, California, Colorado, New Mexico and Texas.
| 0.02% – 1.00% | 0.01% – 0.04% |
Minimum Deposit | $0 | $1 | $100 |
Fees | $0 | $12
Can be waived if you maintain a minimum daily balance of $5,000
| $8 per month
Can be waived by maintaining a balance of $500+, becoming a Preferred Rewards member or linking to your B of A Advantage Banking account. Fees are also waived for enrolled students aged under 24
|
Checking Accounts
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Account Types
Bank Of America offers three types of personal checking accounts and two accounts for business use. While all of them charges monthly fees, customers can waive them in various ways::
BofA Checking Account | Monthly Fee | Average Day Balance To Waive |
|---|---|---|
Safe Balance | $4.95 | $500 |
Advantage Plus | $12 | $1,500 |
Advantage Relationship
| $25 | $20,000 |
PNC Bank's Virtual Wallet offers a comprehensive digital banking experience, combining Spend (primary checking), Reserve (secondary checking for short-term planning), and Growth (long-term savings) accounts.
Customers can choose from three tiers – Virtual Wallet, Performance Spend, and Performance Select, each offering varying benefits.
PNC Checking Account | Monthly Fee | Average Day Balance To Waive |
|---|---|---|
Virtual Wallet Performance Select Checking | $25 | $5,000 |
Virtual Wallet Performance Checking | $15 | $2,000 |
Virtual Wallet Standard Checking | $7 | $500 |
Foundation Checking
| $5 | Can't be waived |
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Features
Bank of America offers a range of features for both personal and business accounts. For personal accounts, they provide paper checks, overdraft protection, and a $0 liability guarantee. Digital banking services are also available, ensuring convenient access to account information.
In the realm of business accounts, Bank of America offers the Business Advantage Fundamentals Banking package, which includes QuickBooks integration, cash flow monitor, Erica (BofA virtual financial assistant), mobile check deposit, and Zelle for business transactions.
BofA Checking Account | Main Features |
|---|---|
Safe Balance | Digital banking, no overdraft fees, $0 liability guarantee |
Advantage Plus | Paper checks, overdraft protection, $0 liability guarantee |
Advantage Relationship
| Earns interest, no fees on select banking service ,overdraft protection |
Business Advantage Fundamentals
| QuickBooks® integration, Cash Flow Monitor, Erica, Mobile Check Deposit, Zelle® for business |
Business Advantage Relationship
| No fees for incoming wires, stop payments, electronic deposits & more |
PNC's Virtual Wallet offers a range of features, including Zelle for easy money transfers, spending analysis tools, and the ability to set savings goals. Account holders may also enjoy reimbursements for select non-PNC ATM fees and benefit from higher relationship interest rates.
PNC's Foundation Checking account provides convenient mobile banking services, waives overdraft fees, and offers complimentary cashier checks.
PNC Checking Account | Main Features |
|---|---|
Virtual Wallet Performance Select | No PNC charges for using other banks' ATMs or domestic wires |
Virtual Wallet Performance | Reimbursements for some non-PNC ATM fees, higher relationship interest rates |
Virtual Wallet Standard | Zelle, spending analysis, savings goals |
Foundation Checking
| Mobile banking, no overdraft fee, free cashier checks, debit card |
Certificate Of Deposits (CDs)
Whne it comes to CDs, Bank Of America is our winner. Both banks offer high rates only on promotional, special terms – but BofA offers more terms with high CD rates than PNC bank.
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Bank of America CD Rates
CD Term | APY |
|---|---|
3 Months | 4.50% |
6 Months | 0.03% |
7 Months (Featured) | 5.00% |
12 Months | 0.03% |
13 Months (Featured) | 5.00% |
24 Months | 0.03% |
25 Months (Featured) | 3.00% |
36 Months | 0.03% |
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PNC CD Rates
CD Term | APY |
|---|---|
7 Months (Featured) | 0.01% -4.25% |
12 Months | 0.01% – 0.03% |
13 Months (Featured) | 0.01% – 2.00% |
19 Months (Featured) | 0.01% – 1.25% |
24 Months | 0.01% – 0.03% |
25 Months (Featured) | 0.01% – 1.50% |
24 Months | 0.01% – 0.03% |
37 Months (Featured) | 0.01% – 1.75% |
36 Months | 0.01% – 0.03% |
61 Months (Featured) | 0.01% – 2.00% |
Top Offers From Our Partners
Top Savings Accounts From Our Partners
Quontic High Yield Savings
- 4.50% APY on savings
- Interest is compounded daily
- No Monthly Service Fees
CIT Savings Connect
- Up to 5.00% APY on savings
- No monthly service fees.
- Zelle, Samsung & Apple Pay
Advertiser Disclosure
The product offers that appear on this site are from companies from which this website receives compensation.
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Credit Cards
When it comes to credit cards, Bank of America is a clear winner.
Bank of America provides a diverse range of credit cards, each designed to meet varying financial needs and preferences. The Bank of America Customized Cash Rewards is a popular choice, offering cash back on everyday purchases with customizable bonus categories. The Bank of America Travel Rewards is ideal for frequent travelers, providing points for travel-related expenses and featuring no foreign transaction fees.
For those seeking premium benefits, the Bank of America Premium Rewards Elite Credit Card offers substantial rewards on travel and dining, along with statement credits for travel expenses.
Card | Rewards | Bonus | Annual Fee |
| Bank of America Unlimited Cash Rewards
| 1.5%
unlimited 1.5% cash back on all purchases
| $200
$200 online cash rewards bonus after making at least $1,000 in purchases in the first 90 days of your account opening
| $0 |
|---|---|---|---|---|
| Bank of America® Customized Cash Rewards credit card | 1-3%
3% cash back in the category of your choice: gas, online shopping, dining, travel, drug stores, or home improvement/furnishings, 2% cash back at grocery stores and wholesale clubs and 1% cash back on all other purchases. The 3% and 2% cash back available on the first $2,500 in combined choice category/grocery store/wholesale club purchases each quarter (then 1%)
| $200
$200 cash rewards bonus after making at least $1,000 in purchases in the first 90 days of your account opening
| $0 |
| Bank of America® Travel Rewards credit card | 1.5X
1.5 points for every $1 you spend on all purchases everywhere, every time and no expiration on points
| 25,000 points
25,000 online bonus points after you make at least $1,000 in purchases in the first 90 days of account opening – which can be redeemed for a $250 statement credit toward travel purchases
| $0 |
| BankAmericard | N/A | 21 billing cycles on purchases and balance transfers made within the first 60 days | $0 |
| Bank of America® Premium Rewards® Elite | 1.5x – 2x
2 points for every dollar you spend on travel or dining purchases, with 1.5 points per dollar on all your other purchases | 75,000 points
75,000 bonus points if you spend $5,000 or more within 90 days of opening your account
| $550 |
| Bank of America Premium Rewards | 1.5X – 2X
Unlimited 2X points on travel and dining purchases. Unlimited 1.5X points on all other purchases | 60,000 points
60,000 online bonus points for spending $4,000 on new purchases in the first 90 days of opening their card account.
| $95 |
Card | Rewards | Bonus | Annual Fee |
| PNC Cash Unlimited Visa Signature Credit Card | 2%
unlimited 2% cash back on every purchase | 0% Intro APR: 12 billing cycles on purchases and balance transfers | $0 |
|---|---|---|---|---|
| PNC Cash Rewards Visa Credit Card | 1% – 4%
4% on Gas station purchases, 3% on Restaurant and 2% on Grocery store (for the first $8,000 in combined purchases in these three categories) and 1% cash back on all other purchases | $200
$200 cash back after you make $1,000 or more in purchases during the first 3 billing cycles following account opening | $0 |
| PNC points Visa Credit Card | 4x – 7x
4 points per $1 on purchases + 25% / 50% /75% bonus on all base points for PNC customers | 100,000 bonus points
100,000 bonus points after you make $1,000 in purchases during the first 3 billing cycles following account opening | $0 |
| PNC Core Visa Credit Card | N/A | 0% Intro APR: 15 billing cycles on purchases and balance transfers | $0 |
| PNC Secured Visa credit card | N/A | N/A | $0 |
Mortgage And Loans
When it comes to lending products, PNC Bank is our winner due to larger options for borrowers than Bank Of America.
Bank of America offers a comprehensive array of lending options, including mortgages, mortgage refinancing, and home equity loans. Additionally, they offer auto purchase loans and auto refinancing options.
On the other hand, PNC offers a diverse range of borrowing options to meet various financial needs. This includes mortgage purchase and refinance for home financing, home equity lines of credit, construction and lot loans for property development, auto loans for vehicle financing, and personal loans and lines of credit for general financial needs.
Additionally, PNC provides solutions for education with Student Loans and Student Loan Refinancing, offering comprehensive borrowing options to suit different life stages and financial goals.
Which Bank Is Our Winner?
There is no clear winner between PNC and Bank Of America, but if we need to choose one – PNC wins. They offer much better savings rates, their Virtual Wallet checking options provide great coverage of checking features and benefits and lastly – they offer more options for borrowers. On the other side, Bank Of America is better when it comes to credit cards and CDs.
However, it is crucial to assess various factors, with a primary focus on those that are significant for your specific needs. This could include considerations such as banking services, overdraft assistance, frequent ATM usage, proximity to bank locations, and other elements that vary from person to person.
Compare PNC With Other Banks
Chase has some great features including a massive selection of credit card options. Both banks also offer some great mortgage packages. PNC also has some innovative credit card options, and you can also access personal loans.
Read Full Comparison: Chase vs PNC Bank: Which Bank Account Is Better?
The Wells Fargo service is even more extensive. Checking accounts, various savings accounts, mortgages, loans, and investment options such as IRAs, 401ks, and wealth management solutions are all available.
PNC offers checking and savings accounts, home loans, mortgages, investments, student loan refinancing, and a variety of credit cards.
Read full comparison: Wells Fargo vs PNC: Which Bank Account Wins?
PNC Bank and Citibank are two big players in brick-and-mortar banking. Let's compare them side by side and see which is our winner: PNC Bank vs. Citibank
PNC is our winner in this competition with a better banking package than Huntington Bank. But there are more things to consider: PNC Bank vs. Huntington Bank
While PNC offers better savings rates than U.S. Bank, the latter has better credit cards. Which is best for bank account? Here's our verdict: U.S. Bank vs. PNC Bank
PNC Bank and Fifth Third Bank are two big players when it comes to brick-and-mortar banking. Let's compare them and see which is our winner: PNC Bank vs. Fifth Third Bank
We prefer PNC Bank over M&T, mainly due to higher savings and money market account rates and better credit cards. Here's our comparison: PNC Bank vs. M&T Bank
Our winner is PNC Bank as it offers more options for checking and higher savings rates than Truist bank. Here's our comparison: Truist Bank vs. PNC Bank
Both KeyBank and PNC Bank are active in various states, such as Pennsylvania, Indiana, Ohio, and more. Let's compare their banking products.
While the differences are insignificant, our winner is PNC Bank, which has better options than BMO Bank. Here's our complete comparison: PNC Bank vs. BMO Bank
PNC and Regions Bank operate in several states, including Florida, Georgia, Kentucky, and South Carolina. Let's compare them side by side: Regions Bank vs. PNC Bank
While PNC Bank is a brick-and-mortar bank, Capital One's presence is mainly online. Let's compare them and see which is our winner: Capital One vs. PNC Bank
While PNC Bank is a brick-and-mortar bank, American Express Bank's is an online bank. Let's compare their banking products side by side: American Express Bank vs. PNC Bank
PNC Bank is our winner with a complete package of banking services. SoFi is best for savings rates, online experience, and lending options.
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Comparing PNC Bank and BofA: Our Methodology
In our detailed banking comparison, The Smart Investor team thoroughly looked in five main areas in both banks and compare them side by side:
Checking Accounts (30%): We checked things like direct deposit, debit card availability, monthly fees, ATM and branch access, check deposit, bill pay options, and account alerts. We also considered any special offers for customers.
Savings Accounts including CDs (20%): We focused on important stuff like how much interest you can earn (APY), the smallest amount you need to open an account, how flexible the accounts are, and if they're insured by FDIC. We also looked at special savings offers, different types of CDs, and any fees for taking money out early.
Credit Cards (15%): We looked at what rewards you get, how much the card costs each year, any bonuses you get for signing up, perks for traveling, how much interest you pay on balances, and if you can transfer balances from other cards.
Lending Options (15%): We checked out the different kinds of loans they offer, like personal loans, student loans, mortgages, and loans where you use your home as collateral.
Customer Experience And Bank Reputation (20%): We looked into how easy it is to use their online and mobile banking, how helpful their customer support is, what people say about them online, any awards they've won, and how stable they are financially. This gave us a good idea of what it's like to be a customer and how much people trust them.
Compare BofA With Alternative Banks
Since its inception as a credit card provider, Discover has come a long way.Of course, credit cards are available, but you can also get home loans, personal loans, and a variety of checking and savings products such as retirement accounts, CDs, and money market accounts.
Bank of America offers a far more comprehensive range of banking services. There are numerous credit card options, as well as various savings and checking accounts.
Bank of America also provides mortgages, auto loans, and investments. This makes switching from a traditional bank much easier because you won't have to compromise on your banking products.
Read Full Comparison: Discover vs Bank of America: Compare Bank
Bank of America is a nationwide network that offers deposit, loan, and credit card services. There are also increased daily limits on ATM and debit purchases, which is an excellent incentive to improve your financial situation. Aspiration's company was presented in a very different manner than their bank competitors.
One feature that sets them apart from their competitors is that they let their customers decide how much they want to pay for their services. The fee that the customer believes is fair or appropriate for the level of service they receive is set by the customer.
Read Full Comparison: Aspiration vs Bank of America: Which Bank Account Is Better?
Wells Fargo's product offering is even more extensive. This bank offers checking accounts, a variety of savings accounts, mortgages, loans, and investment options such as IRAs, 401ks, and wealth management services. This makes switching from another bank even easier because you'll have access to all of your favorite banking products.
Bank of America offers a diverse range of banking services. Checking and savings accounts, auto loans, home loans, credit cards, and investment options are all available.
Read Full Comparison: Bank of America vs Wells Fargo: Which Bank Is Better?
Bank of America has an impressive line of banking products, as one would expect from a large banking institution. Aside from various checking and savings accounts, there are auto loans, home loans, a variety of credit cards, and investment options. This makes switching from your current bank easier because you'll find many familiar products.
Chase also has a good selection of banking products. There are checking and savings accounts, auto loans, home loans, and home equity options, as well as a fantastic selection of credit cards.
Read Full Comparison: Bank of America vs Chase: Where to Save Your Money?
US Bank offers an even more impressive range of banking services. Savings and checking account options, investments, personal loans, mortgage products, and wealth management are all available.
Bank of America offers a wide range of banking services. There are numerous credit cards available, as well as various checking and savings accounts, home loans, investments, and auto loans.
Read Full Comparison: Bank of America vs US Bank: Which is Best For You?
Bank of America is a large banking institution, and its impressive banking product line reflects this. Aside from savings and checking accounts, there are home loans, auto loans, investment options, and a variety of credit cards. Citi also has a diverse product offering. Credit cards, CDs, personal loans, mortgages, IRAs, investment options, wealth management plans, and checking and savings accounts are all available.
As a result, if you want to switch from your current bank, either bank is a viable option because you won't have to make any compromises in terms of banking products.
Read Full Comparison: Bank of America vs Citi: Which Bank Suits You Best?
Spend and Save is a SoFi savings and checking account hybrid. For the purposes of this comparison, we'll look at the savings features, of which there are a few. The most visible are the savings vaults. These enable you to set up separate funds to work toward different savings goals without the need for multiple accounts. This helps you organize your money, and you can even designate a vault for your round-up funds.
Bank of America offers a more traditional savings account, but it pays far less interest, ranging from 0.01 percent to 0.04 percent depending on your Preferred Rewards status, compared to SoFi's 0.25 percent. In addition, there is a $8 monthly maintenance fee that can be waived by keeping a balance of $500 or more in the account or linking your checking account. By linking your accounts, you can avoid going overdrawn with Balance Connect.
Read Full Comparison: SoFi Money vs Bank of America: Which Is Better For Your Needs?
Both banks have a decent selection of banking products, but there are some gaps in each line up. If you’re looking for the best returns, Capital One does have the edge in terms of CD and savings rates.
There is no clear winner as to whether Truist Bank or Bank of America is a better choice, but we prefer the latter. Here's why.
Truist Bank vs. Bank Of America: Which Bank Account Is Better?
We'll explore Bank Of America and TD Bank savings accounts, checking accounts, CDs, credit cards, and lending products. Here's our winner: TD Bank vs. Bank Of America
BMO is the winner when it comes to savings products, while Bank Of America offers many more credit card options. Here's our winner: Bank of America vs. BMO Bank
There is no clear-cut winner, but we prefer Bank Of America. But, there are cases when Citizens is best. Here's our comparison: Bank of America vs. Citizens Bank
While Bank of America and Fifth Third Bank offer a range of banking services, Fifth Third is our winner in this competition. Here's why.
Bank of America vs. Fifth Third Bank: Which Bank Account Is Better?
We'll explore Bank of America and M&T Bank savings accounts, checking accounts, CDs, credit cards, and lending products. Here's our winner: Bank of America vs. M&T Bank
We believe Bank Of America is the preferred option in this battle. But, there are significant differences to know. Here's our comparison: Bank of America vs. KeyBank
While Regions Bank offers better checking accounts, Bank of America wins in credit cards and CDs. Here's our side by side comparison: Regions Bank vs. Bank of America
If you feel comfortable with online-only banking and depending on your needs – Ally may be a better option than Bank Of America. Here's why.
Ally Bank vs. Bank of America: Which Bank Account Is Better?
For most consumers, Bank of America may be a better option. American Express is a solid option for customers with higher wealth. Here's why.
American Express Bank vs. Bank of America: Which Bank Account Is Better?
