Program With Low Balance Requirement and
Everyday Banking Benefits Is Now Available for Clients in Michigan,
Illinois, Tennessee, North Carolina, Georgia and Florida
Preferred Rewards, a groundbreaking program that recognizes and
rewards clients for choosing Bank of America for more of their
banking and Merrill Edge for their investment needs, is now
available for clients in Michigan, Illinois, Tennessee, North
Carolina, Georgia and Florida. These states are within wave three
of a four-wave national rollout of the program that began in June
and will be completed by the end of September.
“Preferred Rewards is the first program of its kind to offer
clients benefits and rewards for everyday banking,” said Dean
Athanasia, president of Preferred and Small Business Banking and
co-head of Consumer 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 us.”
Clients with an active, eligible 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 needs.
- Extra interest: Higher interest rates
on Rewards Money Market Savings accounts.
- $0 equity and ETF trades*: $0 Merrill
Edge online equity and Exchange-Traded Funds trades (30 per month
for Platinum and 100 per month for Platinum Honors).
- 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 on standard check orders,
cashier’s checks and stop payments.
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.”
Clients who are currently enrolled in Bank of America’s Platinum
Privileges program are encouraged to enroll in Preferred Rewards at
http://bankofamerica.com/preferredrewardsnews. Once they enroll in
Preferred Rewards, their new benefits will replace existing
Platinum Privileges benefits.
Bank of America Preferred BankingBank 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. 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 Bank of America banking and Merrill Edge investing
information in one place, transfer funds among those accounts and
receive guidance when they need it.
Bank of AmericaBank of America is one of the world's leading
financial institutions, 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 5,000 retail banking offices and approximately
16,000 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.
www.bankofamerica.com
Banking products are provided by Bank of America, N.A., and
affiliated banks, Members FDIC and wholly owned subsidiaries of
Bank of America Corporation.
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.
Investment products:
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 at MLPF&S.
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
proceeds.
© 2014 Bank of America Corporation. All rights reserved.
Reporters May Contact:Kristen Georgian, Bank of America,
1.617.434.0234kristen.e.georgian@bankofamerica.com
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