The Truth about Bank of America

From my original blog, Finance For Youth:  The Blog

www.finance4youth.wordpress.com

Let me start out by saying I really, really wanted to hate Bank of America.  I have worked in finance (banking) for a very long time, and everybody knows they just suck!  I knew I was going to be giving BofA a bad grade when it came to youth accounts.  Here’s what I came up with.

When rating financial institutions for their benefit for youth, I looked specifically at the products they offer on their websites dedicated to students and youth.  I looked at seven criteria, and compared with other institutions.  Since I don’t bank with them, I did not rate them on customer service or satisfaction, two areas that are very important to me.

Comments:  I like especially that the account is free while you are a student.  This is of paramount importance to my readers.  Offering to waive monthly fees for Direct Deposit or Online Bill Pay, as well as offering a free online Bill Pay program really helped.  They seem to offer programs with features that make sense for today’s youth.  As much as I wanted to hate them, they Came out pretty good here.

Great job, Bof A!

Coming up, Wells Fargo.  Did they do as well?

This entry was posted on January 24, 2007 at 1:11 am and is filed under students, life, school, Youth, Finance For Youth, Personal Finance, Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response or trackback from your own site.

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