Let's face it: place matters when choosing a bank. Most consumers check the availability of branches and Bank ATMs a key decision factor when choosing a financial institution and on this point-Bank of America provides. Certainly, the largest bank in the United States, Bank of America offers an incredible number of sites 150 countries and more than 6,000 offices, to be exact.
The comfort factor of ATM locations and close to the Bank to work or at home, popular reasons for picking your hard earned dough House are a financial institution,. The largest of the "big four" banks, Bank of America has an estimated 12.2% of the deposits in the United States (loud Wall Street Journal). But what makes these banks monolith worth billions, it every day by the economy of pumps?
A bit B.O.A. history
Bank of America began "Bank Italy" in San Francisco founded in 1904 as Italian American Amadeo Giannini. Set in a former saloon, Giannini began the Bank as a loan and immigrants, middle-class Americans and farmers who can be refused services of major financial institutions of the period. As deposits grew and Word of mouth, which are carried out, the name to "Bank of America" expressed changed, the Giannini better felt the mission by his bank.
Expansion, acquisitions, and branch openings that followed. Giannini the small Bank rose to a powerhouse, that all early from Disney's snow white start the Hewlett-Packard secured.
Twenty-first century saw the Bank of America rise and fall in public opinion through the rapid acquisition of Merrill Lynch, Barnett and other financial institutions. Swallow seemingly very competition, the rapid growth took its toll. Allegations of insider trading and was in 2008 emerged, and the public opinion of the banking sector continuously during the recession 2009 deleted.
Consumer review
Despite the setbacks served as Bank of America admirable own in the financial industry. They love or hate them, Bank of America execs seem to know what the consumers want. A variety of financial services, user friendly site and locations of main were street to Dubai the Bank of America with a loyal customer base. Feelings can vary, but it is hard to argue, to choose a significant proportion of Americans, the Bank of America as their primary financial institution.
Come a major bank, but with the advantages disadvantages. Tales of endless bureaucracy, slow processing times for mortgages, impersonal service and heavily loaded fees have a long history in the criticism of the Bank of America. The Bank of America untroubled minority jump ship as a giant with customer service links of a small, but vocal for the local banks.
Bank of America survival skills and strengthen
What maintains one step (and keep on its market share) is the remarkable ability to work with PR, Bank of America issues quickly. New products, new services and ceilings of marketing to customers targeted are unroll constantly. An example is the ingenious marketing campaign behind the "the change keep" program - register customers, the "change" from every Visa check deposited transaction in their savings account, such as a virtual piggy bank. Products such as ' keep the change "The Bank heavyweight position retained when provide customers with simple banking."
A constantly moving banking machine
To this end, the Bank has of America notable improvements on its website. The Bank website offers now simply structured areas as soon as overly complex and difficult to navigate. Choices range from personal account management, to track mortgages and investments to software, the customer and allows you to graph your expenses.
There is even a way to send wires online on accounts in the United States and abroad. Talk about a time saver - no lengthy conversations or trips to the store. Simply enter the routing information, go through some security checks, and sending money is as easy as a few clicks on a button.
New online video tools go through the steps to use select, please contact consumers online-features - innovative differently to a dreaded call customer support. Bank of America has also a great job on a "one stop shop" to create made for customers. A current account mortgage, savings and investment portfolio that same customer held by, all with the same bank of America username can be accessed
Pay Bank of America?
There are trade-offs and compromises in the selection of Bank of America as your primary financial institution. There are also to start too many products to list you here, but the site is a thorough job of explaining most of them. If it research Bank of America, but not all options overwhelms you in the market for a new Bank, which is worth get. Keep to the basics - the services you need, usability, reliability, and the ability to get answers when you need them.
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