Choosing the right banking partner is a big decision for any small business owner. Holdings and Bank of America Business Advantage represent two very different approaches: one is a modern, all-in-one digital platform built for SMBs, the other is a national banking giant with a vast branch network and a long history of serving businesses. Here’s how they compare, who each is best for, and how Holdings stacks up against other top business banking competitors.
Quick Comparison Table
Feature | Holdings | Bank of America Business Advantage |
|---|---|---|
Monthly Fees | None | $16 (Fundamentals, first 12 months free), $29.95 (Relationship) – both waivable |
Interest/APY | Tiered: up to 3.0% APY for large balances | Not specified; typically low or none on checking |
Transactions | Unlimited free ACH and wire transfers | 20 free non-electronic/month (Fundamentals), 500/month (Relationship), then $0.45 each |
Cash Deposits | ATM access, unlimited free at Allpoint+ ATMs | $5,000/month free (Fundamentals), $20,000/month (Relationship), then $0.30 per $100 |
Accounting Integration | Built-in, automated, plus QuickBooks integration | Not integrated |
Invoicing & Bill Pay | Unlimited, included | Bill pay included; no built-in invoicing |
Branch Access | Digital-first, nationwide ATM network | 3,900+ branches, 16,000+ ATMs |
Rewards/Perks | High-yield APY, integrated tools | Preferred Rewards for Business program |
Ideal For | SMBs, digital-first, automation-focused | Businesses needing in-person banking, cash |
What Makes Holdings Stand Out?
Truly Fee-Free: No monthly fees, no transaction fees, no wire/ACH fees, and no minimum balance requirements—ever.
High-Yield, Tiered APY: Earn up to 3.0% APY on large balances, so your cash actually grows.
All-in-One Platform: Banking, accounting, invoicing, bill pay, and even optional full-service bookkeeping—no more juggling disconnected tools.
Unlimited Transactions: No caps or surprise fees for moving your money.
Automation for Busy Owners: Automated reporting, reconciliation, and financial management built right in.
Cash-Friendly: Unlimited free cash deposits at 55,000+ Allpoint+ ATMs nationwide—no extra hoops or hidden fees3.
Modern Experience: 100% digital onboarding, easy integrations, and a platform that scales with your business.
Where Bank of America Shines
Branch & ATM Network: 3,900+ branches and 16,000+ ATMs across the U.S.—ideal for businesses that need in-person service or frequent cash deposits.
Full-Service Banking: Access to business loans, lines of credit, merchant services, payroll, and more.
Tiered Account Options: Choose from Fundamentals or Relationship accounts to match your transaction volume and cash needs.
Waivable Fees: Monthly fees can be avoided by maintaining minimum balances or qualifying debit card spend.
Rewards Program: Preferred Rewards for Business offers credit card bonuses and merchant services cash rewards.
Comprehensive Services: From SBA loans to industry-specific financing, Bank of America is a one-stop shop for established businesses with complex needs24.
Who Should Choose Which?
Holdings is best for:
SMBs and entrepreneurs who want to maximize interest on their deposits with tiered rates up to 3% APY
Businesses seeking a truly fee-free, all-in-one banking and accounting solution
Companies that want unlimited free ACH and wire transfers
Owners who value automation, integrated invoicing, and bill pay
Teams that want to save time and reduce manual financial work
Businesses that want unlimited free cash deposits at a large ATM network3
Bank of America is best for:
Businesses that need in-person banking, frequent cash deposits, or access to a large branch network
Companies that require business loans, lines of credit, or merchant services
Owners who can easily meet minimum balance or debit card spend requirements to waive monthly fees
Entrepreneurs who want a full-service, traditional banking relationship and rewards program24
What About Fees and Limits?
Holdings: No monthly fees, no transaction fees, no wire/ACH fees, unlimited free money movement, and no minimum balance requirements. Optional subscription for advanced accounting and bookkeeping.
Bank of America: $16–$29.95 monthly fees (waivable), 20–500 free non-electronic transactions/month (then $0.45 each), $5,000–$20,000 free cash deposits/month (then $0.30 per $100), and additional fees for wires, ATM use, and other services23.
Compare Holdings to Other Top Business Banks
Curious how Holdings stacks up against other leading business banking solutions? Explore these in-depth comparisons:
The Bottom Line
Both Holdings and Bank of America offer robust business banking—but they serve different needs. Holdings is ideal for SMBs that want a truly fee-free, high-yield, all-in-one banking and accounting solution with unlimited transactions, automation, and unlimited free cash deposits at a massive ATM network. Bank of America is a strong choice for businesses that need in-person service, frequent cash deposits, or a full suite of traditional banking products and rewards.
Ready to see how Holdings can help your business grow? Explore our full suite of comparisons above, or get started today