One of the more reputable banks that is the most commonly known bank not only in the United States but in the world is Bank of America. Although it shares its commonality with other banks such as Wells Fargo as well as a few others, Bank of America as become a bank that has served many customers for many years with the same level of customer service that they started the company out with. As a result, Bank of America has been recognized as tone of the top companies in the world. Since the first Bank of America opened its doors its reputation has grown through the services and customer service provided giving the company a rich and prosperous history.
Considered to be one of the largest banks in the United States, Bank of America has been recognized in Forbes Magazine as the third largest bank in throughout the world. As a whole all the Bank of America branches and ATMs cover 80 percent of the United States population. Because it covers a good majority of the population this means that there are over 16,000 ATMs alone that can be accessed from almost anywhere in the United States. Simply put, Bank of America serves billions of customers, many of which are small business oriented, all accessible from over five thousand branches.
Since it began its journey in 1904 under the name of the Bank of Italy, which was founded first in San Francisco. After a disastrous earthquake had struck the San Francisco area The Bank of Italy would soon after be merged and be known as the Bank of America and Italy. By the time 1928 rolled around the Bank of America had been consolidated and reconsolidated within the matter of a few years time. By the time the consolidations had been complete the bank has a whole had over 115 billion dollars available in its resources. As of November 3, 1930 the Bank of Italy was renamed the Bank of America and would soon after expand its business relationships beyond the borders of California through both acquisition and merging of other banks like Merrill Lynch as well as NationsBank.
Throughout the several years that Bank of America has been in business it has served its valued customers on many different levels. When anybody chooses to do any banking business with Bank of America there are several different options to choose from which include things like opening a checking and or savings account, taking out a personal or business loan, cashing checks and much more. These are the more commonly known services that is the most common reasons why customers come into Bank of America. One service that comes with checking accounts is the check card which allows ATM access.
In conclusion, since its humble beginnings in 1904 under the name of the Bank of Italy, Bank of America has grown into one of the top five largest banks in the world which places it on the list with the likes of other banks such as JPMorgan, Chase, and Wells Fargo. Throughout the companies history its growth has seen its ups as well as its downs at times. From the earthquake of San Francisco that threatened the business to the eventual merging and acquiring of other smaller least commonly known banks the Bank of America franchise has come to be known as a powerhouse within the financial industry. At the peak of its banking statistics it was noted that Bank of America serves over 57 billion customers from over five thousand branches and over 16,000 ATMs across the U.S.
