Low Balance Requirement Offers More Bank of America Clients Everyday
Benefits for Everyday Banking
NEW YORK--(BUSINESS WIRE)--
Bank of America today launched Preferred Rewards, a ground-breaking new
program that recognizes and rewards clients for choosing Bank of America
for more of their banking and Merrill Edge for their investment needs.
"Preferred Rewards is the first program of its kind to offer clients
benefits and rewards for everyday banking," said Dean Athanasia,
president of Preferred Banking at Bank of America. "It is the result of
deep client research to develop and deliver a simple program that
provides clients benefits and rewards they will actually use, and shows
them how much we appreciate it when they choose to do more business with
Clients with a Bank of America personal checking account and a
three-month average combined balance of $20,000 or more across their
checking, savings and/or Merrill Edge® investment accounts
can enroll. And, as clients' combined balances grow, so do their
benefits and rewards. With a three-tier structure - Gold, Platinum and
Platinum Honors - clients have additional opportunities to earn, save
and get more back based on their tier, including:
Rewards bonus:Bonus rewards - points or cash back - on
eligible Bank of America credit cards.
Priority service:Access to a dedicated team of specialists
available to handle all our Preferred clients' banking and service
Extra interest:Higher interest rates on Rewards Money Market
$0 equity and ETF trades*:$0 Merrill Edge online equity and
Exchange-Traded Funds trades.
Home equity interest rate discount: Interest rate reductions for home
equity loans or lines of credit.
Mortgage relationship credit:A relationship credit - $200 for
Gold, $400 for Platinum and $600 for Platinum Honors - on a mortgage
purchase or refinancing of a loan.
No fees on select everyday banking services:Fees waived for
services including withdrawals at non-Bank of America ATMs.
There is no fee to enroll in the Preferred Rewards program for qualified
Bank of America clients. Once clients begin receiving benefits, their
three-month average balance will be reviewed monthly for the opportunity
to achieve additional benefits. The program was created to bring more
benefits to Bank of America clients that do more business with the bank.
"The lower qualifying balance for Preferred Rewards than Platinum
Privileges means more of our clients are able to participate in the
program and earn greater rewards," said Aron Levine, head of Preferred
Banking and Merrill Edge Investing at Bank of America. "The rewards are
broader and reach across the bank, so more clients can experience all
that Bank of America has to offer through one simple program."
Following a successful five-state pilot, Preferred Rewards will be
rolled out in four waves, beginning in Arkansas, Iowa, Maine,
Massachusetts, New Hampshire, New Mexico, Oklahoma, Rhode Island and
Texas. The national rollout will continue in three additional waves from
July to September.
Clients who are currently enrolled in Bank of America's Platinum
Privileges program are encouraged to enroll in Preferred Rewards at www.bankofamerica.com/preferred-rewards.
Once they enroll in Preferred Rewards, their new benefits will replace
existing Platinum Privileges benefits.
Bank of America Preferred Banking
Bank of America Preferred
Banking, which launched in 2012, has added more than 2,100 specialists
in more than 1,150 banking branches to work on the Preferred Rewards
program. Bank specialists act as one team within banking centers to
proactively reach out and offer advice and solutions to clients
regarding the Preferred Rewards program. Preferred Banking was created
to provide clients with access to all of their banking information in
one place, transfer funds among those accounts and receive guidance when
they need it.
Bank of America
Bank of America is a leading financial institution,
serving individual consumers, small businesses, middle-market businesses
and large corporations with a full range of banking, investing, asset
management and other financial and risk management products and
services. The company provides unmatched convenience in the United
States, serving approximately 49 million consumer and small business
relationships with approximately 5,100 retail banking offices and
approximately 16,200 ATMs and award-winning online banking with 30
million active users and more than 15 million mobile users. Bank of
America is among the world's leading wealth management companies and is
a global leader in corporate and investment banking and trading across a
broad range of asset classes, serving corporations, governments,
institutions and individuals around the world. Bank of America offers
industry-leading support to approximately 3 million small business
owners through a suite of innovative, easy-to-use online products and
services. The company serves clients through operations in more than 40
countries. Bank of America Corporation stock (NYSE:BAC) is listed on
the New York Stock Exchange.
Visit the Bank of America newsroom for more Bank
of America news.
Banking products are provided by Bank of America, N.A., and affiliated
banks, Members FDIC and wholly owned subsidiaries of Bank of America
Merrill Edge® is available through Merrill Lynch, Pierce, Fenner
& Smith Incorporated (MLPF&S), and consists of the Merrill Edge Advisory
Center (investment guidance) and self-directed online investing.
MLPF&S is a registered broker-dealer, Member SIPC and wholly owned
subsidiary of Bank of America Corporation.
Are Not FDIC Insured
Are Not Bank Guaranteed
May Lose Value
*$0 trades are only available with an individual or joint Merrill Edge
self-directed brokerage account. MLPF&S waives its commission fee for as
many as 30 monthly online equity trades, including stock and exchange
traded funds (ETFs) for Platinum Privileges clients. To learn about
additional ways to qualify for $0 trades, call 1.888.MER.EDGE
(1.888.637.3343) or visit http://www.merilledge.com/pricing.
To determine the 30-trade limit, MLPF&S adds the qualifying trades in
your individual accounts and joint accounts. Commission fees apply when
qualification requirement is not met, or when you exceed 30 qualifying
trades a month. Brokerage fees associated with, but not limited to,
margin transactions, option trading, special stock registration/gifting,
account transfer and processing, research request and termination apply.
See merrilledge.com for details. Standard deposit account fees apply.
Relationship requirements and pricing are subject to change.
This offer does not apply to Business/Corporate Accounts, Investment
Club Accounts, Partnership Accounts and certain fiduciary accounts held
In addition to your stock or ETF commission, there may be an assessment
of between $0.01 and $0.03 per $1,000 of principal that is added to sell
orders. The Securities and Exchange Commission imposes this assessment
on the financial services industry to cover the U.S. Government's costs
of regulating the security markets and security professionals. If
applicable, this fee appears under "Transaction Fee" on a Trade
Confirmation. There are also fees associated with investing in ETFs.
Read the Expenses & Charges sections of the prospectus to find out what
they are. Contact us to obtain a prospectus. Sell orders may also be
subject to a fractional share liquidation fee of 10% of fractional share
© 2014 Bank of America Corporation. All rights reserved.
Source: Bank of America