We will now compare the annual cost of Bank of America safety box with 3 other major banks, J.P Morgan Chase, Citibank and Wells Fargo. When signing the safety deposit box form, the agreement states that you alone know the contents of your safety deposit box and you should insure it. Insurance and investment are not FDIC insured. It is worthy of note that Bank of America’s safety deposit box is insured with the FDIC (FDIC number 3510) with $125000 for each client using the safety box. On request, Bank of America offers it’s customers a safety deposit box with an annual cost of $75 for a 3″x”5″ box and $300 for a 10″x10″ box.īank of America does not provide a large amount of safety boxes and they are usually not available in new branches. A monthly maintenance fee of $4.95 for a safe balance account and $25 for relationship accounts is charged to clients The monthly maintenance fee is waived if you have $10000 or more each statement cycle in your bank of America account.Ī safety deposit box is a locked storage in a secure area. To open a bank of America safe account, you need a minimum of $25 and $100 for a check and savings account.
They received an award as the top ranking retail banking adviser in 2001, and in 2020, J.D power certificate for 11 consecutive years. Bank of America is ranked the number 2 bank with assets totalling $2.5 trillion.They have received several J.D power awards over the years.
