Bank of America Review
Founded in 1904, the Bank of America offers a wide range of deposit account and investment options. Its bank credit card is known the world over.
Bank of America's history traces back to 1904 when Amadeo Peter Giannini first opened the Bank of Italy in San Francisco. Two years later, Giannini loaned money to citizens to help rebuild San Francisco following a devastating earthquake. Giannini merged his company with the Los Angeles Bank of America in 1929, forming the Bank of America National Trust and Savings Association. The bank is recognized for inventing the first bank credit card in 1959, calling it BankAmericard, a name subsequently changed to VISA in 1977.
As of 2010, the Bank of America serves 57 million individual and small business customers through 5,900 branch offices, over 18,000 ATMs, and an online banking service that is currently used by 29 million customers. There are operations in more than 40 countries worldwide and Bank of America Corporation stock (BAC) trades as a component of the Dow Jones Industrial Average.
Bank of America products and services
The Bank of America offers a wide range of products, money management, and investment services. Consumers may choose a savings account, growth-maximizer money market account, or a high-yield, fixed term CD. The bank's checking account options include eBanking paperless checking, full-service checking, checking with tiered interest rates, and small business checking bundles.
Bank of America debit cards are issued free to all checking account holders, as well as a debit card that offers airline miles through several partner carriers, and cash back with purchases at partner food store and service stations.