Skip to content
banxta

Bank of America vs U.S. Bank: what each publishes

As of October 17, 2026, we hold no rule from Bank of America or U.S. Bank on the 7 industries we track; below, side by side: where each takes companies from, its fees, its terms on closing accounts and its licence.

Bank of AmericaFDICU.S. BankFDIC / OCC

Not a ranking: the two names are in alphabetical order. The free check applies every provider’s rules to your own answers.

Where it takes companies from

Bank of America

Its own list of countries, quoted below with its source and date

U.S. Bank

The regions its own documents name, read on October 9, 2026

Policy by industry

Bank of America and U.S. Bank: published policy by industry
IndustryBank of AmericaU.S. Bank
CryptoNo published ruleNo published rule
iGamingNo published ruleNo published rule
AdultNo published ruleNo published rule
Unlicensed financial servicesNo published ruleNo published rule
AI and SaaSNo published ruleNo published rule
Forex and CFDNo published ruleNo published rule
MarketplaceNo published ruleNo published rule

Where owners must live

Bank of America

One of the business owners or controlling managers must be a U.S. citizen or resident.

Owners and directors · · Source

U.S. Bank

No published rule

Rules about countries

Bank of America

Must be U.S. based. Foreign business customers are unable to apply at this time.

Bank of America · Takes companies registered in · · Source

United States

U.S. Bank

No published rule

Fees

Bank of America

Bank of America: published fees
PlanAccount openingMonthlyChecked
Business Advantage Fundamentals BankingNot stated; opening deposit USD 100 or more ('Opening Deposit $100 or more')USD 16 ('$16.00 each month.'), not charged until the thirteenth statement cycle closes; waived with a combined average monthly balance of USD 5,000 or more in eligible linked business deposit accounts, USD 500 or more in qualifying new net purchases with the linked business debit card, or Preferred Rewards for Business membership · Source
Business Advantage Relationship BankingNot stated; opening deposit USD 100 or more ('Opening Deposit $100 or more')USD 29.95 ('$29.95 each month.'), not charged until the third statement cycle closes; waived with a combined average monthly balance of USD 15,000 or more in eligible linked business deposit accounts or Preferred Rewards for Business membership · Source

U.S. Bank

U.S. Bank: published fees
PlanAccount openingMonthlyChecked
Business EssentialsNot statedUSD 0 monthly maintenance fee · Source
Gold Business Checking PackageNot statedUSD 20, waivable (for example with a USD 10,000 average collected checking balance) · Source
Platinum Business Checking PackageNot statedUSD 30, waivable (for example with a USD 25,000 average collected checking balance) · Source
Premium Business Checking PackageNot statedUSD 34, an earnings credit can offset it · Source

Closing an account

Bank of America

You or we may close your checking or savings account at any time without advance notice, except that we may require you to give us seven days advance notice when you intend to close your savings or interest-bearing checking account by withdrawing your funds.

Notice before closing · · Source

Account closed or frozen? What Bank of America’s terms say

U.S. Bank

If we close your account, we will send you notice within ten days after closing and/or indicate the closure on your next account statement.

Notice before closing · · Source

Account closed or frozen? What U.S. Bank’s terms say

Licence

LicenseeBank of AmericaU.S. Bank
LicenseeBank of America, National Association · national bank, Member FDIC (FDIC cert 3510)U.S. Bank National Association · national bank chartered by the OCC, Member FDIC (FDIC cert 6548)
RegulatorFDIC · FDIC / OCC ·