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Bank of America, National Association — Overview
Bank of America, National Association is rated overall in the bottom 1st percentile based on 73,663 customer complaints.

Statistics

Number of Complaints73,663 (219 In Progress)
Complaints per $100K of Deposits1,964.64
Complaints Resolved in a Timely Manner99.9%
Resolutions Disputed by Customer6.7%
Complaints Resolved in Customer's Favor98.2%

Financial Report

EstablishedOctober, 1904
FDIC Certificate #03510
Number of Branches4,577 (229 International)
Total Assets$1,751.5 Million
Total Deposits$1,386.8 Million
Total Equity Held$207.8 Million
Quarterly Net Income$4.8 Million
1st
percentile

Contact Information

Cooperate Headquarters
100 North Tryon St
Charlotte, NC 28202

Website
www.bankofamerica.com

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Other Names and Websites
Other Names (or Trade Names)
Bank of America
Bank of America Merrill Lynch
BofA
BofAML
Merrill
Merrill Lynch

† Directly as reported by the bank on Schedule RC-M of the FFIEC Call report, no system edits.

Bank of America, National Association — Summary

Bank of America, National Association is ranked 343rd out of 3,648 banks. That puts Bank of America in the bottom 16th percentile and gives them an overall grade of "D-". This ranking is based upon customer complaints to the Consumer Finance Protection Bureau (CFPB) and public data about FDIC insured financial institutions. There are 73,663 complaints against Bank of America and 1,002,502 complaints total.

Of the 73,663 complaints again Bank of America, there have been 12,510 in the passed 18 months. Of those 12,510 complaints, 98.2% have been resolved in the customers favor, 6.7% have been disputed by the customer, and 99.9% have been resolved in a timely manner. The CFPB allows 60 days to resolve complaints before considering them "untimely". Additionally, Bank of America has $1,386.8 million is customer deposits which means there are 1,964.64 complains per $100K in customer deposits.

The statistics and figures above are averaged and ranked. We then compute teach bank's overall percentile based upon these scores. Learn more details about our ranking methodology.

Break-down by Financial Product

Grades are also broken down by financial products offered by each institution. Bank of America, National Association is graded in 9 categories of financial products they offer. The top 3 categories are Mortgage, Checking or Savings Account and Credit Card.

Bank of America, National Association is rated "F" in Mortgage; "F" in Checking or Savings Account; "F" in Credit Card; "D+" in Bank Account or Service; "D" in Credit Reporting; "D" in Debt Collection; "D-" in Money Transfers; "B" in Consumer Loan; and "C-" in Vehicle Loan or Lease.

Click here to see Complete Bank of America Report Card »

Financial Summary

Bank of America was established and FDIC insured in October, 1904. Based on its asset concentration, this institution specializes in commercial lending. Bank of America, National Association has $1,751.5 Million is assets (2nd overall) and holds $1,386.8 Million is customer deposits (3rd overall).

Bank of America has 4,594 domestic offices and 229 foreign offices. Click here to see map of all offices.

Alternative names for this Institution include: Bank of America, Bank of America Merrill Lynch, BofA, BofAML and Merrill.

Click here to see complete financial report or to see full history.

Most Recent Complaints

Below is the list of the top 10 complaint reasons against Bank of America, National Association. Click here to see all complaints against Bank of America.

# Product Sub-Product Issue Count
1 Checking or savings account Checking account Managing an account 1,406
2 Credit card General-purpose credit card or charge card Problem with a purchase shown on your statement 572
3 Credit reporting Credit reporting Incorrect information on your report 408
4 Bank account or service Checking account Account opening, closing, or management 372
5 Mortgage Other mortgage Loan modification,collection,foreclosure 346
6 Mortgage Conventional home mortgage Struggling to pay mortgage 324
7 Bank account or service Checking account Deposits and withdrawals 294
8 Bank account or service Other bank product/service Account opening, closing, or management 289
9 Checking or savings account Other banking product or service Managing an account 278
10 Mortgage Conventional home mortgage Trouble during payment process 258
View all complaints »
Complaints by Product
Complaints Over Time - By Year
** Document Provided By BankRank.org **
Source: https://www.bankrank.org/banks/bank-of-america-national-association