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Bank of America app review — straightforward and robust account management tool

Bank of America’s app is a comprehensive tool to manage your money with your smartphone

Bank of America app
(Image: © Shutterstock)

Tom's Guide Verdict

The Bank of America app offers extensive features to manage your financial accounts. Although the app is free, most bank accounts have a fee that can be waived if certain conditions are met. Otherwise, the app is pretty robust and easy to use.

Pros

  • +

    Virtual assistant available in the app

  • +

    Robust money management features

  • +

    Makes rewards opportunities accessible

Cons

  • -

    Live chat is not always available

  • -

    A handful of bugs reported

  • -

    Some Bank of America accounts require monthly fees

At its best, mobile banking allows you to control your finances from anywhere in the world seamlessly. 

But in reality, not all mobile banking apps live up to your expectations. Luckily, the Bank of America app offers an extensive selection of features. 

The Bank of America app is designed for anyone with a checking account, savings account, or credit card issued through the bank. 

It’s especially useful for Bank of America customers who have no desire to walk into a physical branch. With the suite of tools available, you won’t have to drive to a branch location again.

On the surface, the app does everything you’d expect. You can pay bills, deposit checks, check your account balances, and receive customizable security alerts. But the BOA app goes beyond the basics. It also lets you track your spending and view reward opportunities on the go.

If you are a Bank of America customer who wants to manage your money from your smartphone, this app gives you that opportunity. If you aren’t a Bank of America customer and don’t want to become one, this app isn’t for you. 

Do the BOA app features stack up to your needs? Find out more in our Bank of America app review.

Bank of America app review: Features

The Bank of America app is full of handy money management features. You can tackle everything from paying bills and checking spending to viewing rewards and finding cash back opportunities.

Here’s a closer look at the features.

Security

A key part of any mobile banking experience is security. After all, you need to know that your banking activities are protected while using the app.

Numerous safety features are available. A few include one-time authorization codes for each time you log in and fingerprint sign-in options on finger-enabled devices.

Plus, you can lock your card or report it to the bank if you suspect fraudulent activity. According to Bank of America, you won’t be liable for any fraud you report promptly. 

Account alerts

With the BOA app at your fingertips, you can set up account alerts for various account activities. Prompt alerts help you manage your account efficiently.

You can set up optional alerts, which include:

  • Security alerts: A changed password or log-in from an unrecognized device triggers these alerts
  • BankAmeriDeals: Learn about new BankAmeriDeals, expiring deals, and activated deal status changes.
  • Account details: Find out when a card balance goes over a set limit, deposits to your account, withdrawals over a certain amount from your account, and more. 
  • FICO Score updates: Track changes in your FICO score with alerts. 

Many other alert options are available for rewards, spending, unusual card activity, and more. You can receive these alerts by email, text, or mobile notification.

(Image credit: Future)

Reward information accessible

Bank of America card customers can quickly pull up their card benefits from anywhere in the world. For example, if you aren’t sure whether or not your card covers rental car liability insurance, you can hop into the app to find out.

Cash back card customers can set up automatic redemptions within the app. With this option, your rewards will be deposited into your selected account at the end of the month. But you’ll need at least $25 in rewards for the automatic transfer to kick in.

The Bank of America app makes finding and tracking rewards for Bank of America customers with a rewards credit card easy. You can view your redemption options and select one within the mobile app as you build up rewards. 

For those that pursue BankAmeriDeals, the entire program is available within the app. You can add cash back opportunities from select merchants to your card through the app. So, you can check for any deals while at the store to ensure you don’t pay more than you need to. 

Spending tracking

As a Bank of America cardholder, you can get a breakdown of your spending within the app. Each month, you’ll find your total spending. Plus, you can dive into detailed categories like transportation, groceries, entertainment, and more.

A clear visual of your spending habits makes it easier to spot problem areas in your budget.

Goals tool

Setting savings goals is a vital part of your financial future. The BOA app makes it easy to work towards your goals with its goals tool.

You can set personalized savings goals with a name, target date, and motivational picture. The app allows you to set and track multiple savings goals.

Credit score access

Bank of America provides access to your FICO credit score. That information is available through the account dashboard in your app.

Beyond a look at your credit score, the app will outline the key factors affecting your score. Each month, the app updates your credit score.

Payment options

When it’s time to pay bills, you can do that directly in the app. To check this task off your to-do list, you’ll just need to make a few taps on your device. Within the app, you can also send and receive money with Zelle. That makes paying family members and friends a breeze.

It’s also possible to add a Bank of America card to your digital wallet through the app. Some Bank of America cards are compatible with Apple Pay, Google Pay, Samsung Pay, and PayPal.

Bank of America app review: Pricing

As a Bank of America customer, the app is free to use. 

However, the accounts you have with the bank might have fees attached. For example, the Advantage Plus account comes with a $12 monthly fee unless you complete a qualifying activity. Check your account fees to determine the true cost of the checking account. 

Bank of America app review: Ease of use

The Bank of America app is very user-friendly.

Different sections of the account are clearly marked to help you navigate seamlessly. The dashboard will serve as your home base within the app. From there, you can quickly access your accounts, monitor spending, send money, and check your credit score with the standard dashboard. 

But if you want to customize your dashboard, that’s an option too. One feature not in the standard dashboard is your account alert management options. You’ll need to tap through the menu to select alerts based on your account activity.

The BOA mobile banking app is available on your smartphone or tablet. You can even sync your Apple Watch to get BOA alerts on your wrist. An online banking platform is available on your desktop or laptop. 

Bank of America app review: Support

Support within the app is free. You’ll find Erica, a virtual financial assistant, to help you around the clock.

But beyond this automated support, you’ll have access to chat support within the app. When the chat was available, it seemed very quick. I asked a few questions and got responses in under 5 minutes. 

If you prefer to call for help, you can get mobile banking support at (800) 432-1000.

How the Bank of America app stacks up against the competition

The Bank of America app is a worthwhile option. But what if you aren’t a current customer or willing to become one? Most major banks have their own mobile apps. Here’s how they stack up.

The Wells Fargo app offers similar features. You’ll be able to set up account alerts, check your credit score, track your spending, and manage your card within the app. However, there isn’t an option to set up spending goals with the Wells Fargo app.

The Chase mobile app shares many of the same features. But you can set up a budget with alerts with the Chase app. That’s a step up from just tracking your spending. But again, there is no savings goal option.

Another competitor is the Capital One mobile app. Like the BOA app, you can set up account alerts based on your spending and track your rewards opportunities. But the focus on travel rewards with Capital One credit cards means you can book travel right in the app. That’s a game changer for those pursuing travel rewards.

Bank of America app review: Verdict

The Bank of America app provides an extensive selection of features to stay on top of your money management. If you primarily use Bank of America accounts, you’ll find a lot of value in the app.

But if you aren’t a Bank of America customer, a stellar app experience won’t be what sways your banking decision. Instead, it’s more important to seek out a bank account that works for your financial situation. Sometimes, the fees and minimum yields won’t align with your financial goals.

Ultimately, the Bank of America app serves as a nice feature for customers. But if you aren’t willing to work with a big bank, even the robust features of this app won’t convince you to sign up for a Bank of America account.

Frequently Asked Questions (FAQs)

How do I set up the Bank of America app?

Download the Bank of America app from the Apple app store (opens in new tab) or Google Play store (opens in new tab). Once downloaded, log in with your user ID as usual or set up touch ID or fingerprint log-in options. Now you can sign in as usual to access the mobile banking features. 

What are users saying about the Bank of America app?

The Bank of America app is highly rated. In the Apple app store, it earned 4.8 out of 5 stars. In the Google Play store, it earned 4.6 out of 5 stars.

How can I check my balance on Bank of America?

You can use the Bank of America app to check your balance for BOA accounts. Beyond checking your balance, you can set up alerts to monitor your account more efficiently.

Sarah Sharkey
Personal finance writer

Sarah Sharkey is a personal finance writer who enjoys helping people make better financial decisions. She covers personal finance topics ranging from insurance and banking to mortgages and credit cards. Her real hope is that readers find valuable takeaways to improve their own financial situation in her work. You can find her writing on Business Insider, Money Under 30, Rocket Mortgage, Bankrate, and more. She lives in Florida with her husband and dogs. When she's not writing, she's outside exploring a new stretch of coastline. Connect with her on her blog Adventurous Adulting. (opens in new tab)