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Bank of America, National Association — Overview
Bank of America, National Association is rated overall in the bottom 2st percentile based on 75,728 customer complaints.

Statistics

Number of Complaints75,728 (172 In Progress)
Complaints per $100K of Deposits2,019.72
Complaints Resolved in a Timely Manner99.9%
Resolutions Disputed by Customer3.7%
Complaints Resolved in Customer's Favor98.6%

Financial Report

EstablishedOctober, 1904
FDIC Certificate #03510
Number of Branches4,491 (229 International)
Total Assets$1,765.2 Million
Total Deposits$1,410.4 Million
Total Equity Held$205.7 Million
Quarterly Net Income$6.7 Million
2st
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 337th out of 3,688 banks. That puts Bank of America in the bottom 19th 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 75,728 complaints against Bank of America and 1,058,614 complaints total.

Of the 75,728 complaints again Bank of America, there have been 9,291 in the passed 18 months. Of those 9,291 complaints, 98.6% have been resolved in the customers favor, 3.7% 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 $1,410.4 million is customer deposits which means there are 2,019.72 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 10 categories of financial products they offer. The top 3 categories are Checking or Savings Account, Mortgage and Credit Card.

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

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 $1,765.2 Million is assets (2nd overall) and holds $1,410.4 Million is customer deposits (2nd overall).

Bank of America has 4,518 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 1,739
2 Credit card General-purpose credit card or charge card Problem with a purchase shown on your statement 665
3 Credit reporting Credit reporting Incorrect information on your report 490
4 Mortgage Conventional home mortgage Struggling to pay mortgage 371
5 Checking or savings account Other banking product or service Managing an account 358
6 Checking or savings account Checking account Closing an account 300
7 Mortgage Conventional home mortgage Trouble during payment process 298
8 Checking or savings account Checking account Problem caused by your funds being low 272
9 Credit card General-purpose credit card or charge card Other features, terms, or problems 254
10 Credit card General-purpose credit card or charge card Fees or interest 252
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