If you can park $20K in a Bank of America or a Merrill Edge account then you can pick up some sweet rewards . . . . er er have your cake and eat it too!!
The new Preferred Rewards program offers clients benefits and rewards for everyday banking.
Clients with a Bank of America personal checking account and a three-month average combined balance as low as $20,000 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 these seven benefits:
1. Twenty-five to 75 percent Rewards bonus: Bonus rewards – points or cash back – on eligible Bank of America credit cards.
2. Priority service: Access to a dedicated team of specialists available to handle all our Preferred clients’ banking and service needs.
3. Five to 20 percent Extra interest: Higher interest rates on Rewards Money Market Savings accounts.
4. $0 equity and ETF trades*: For clients with a Merrill Edge online investment account (30 per month for Platinum and 100 per month for Platinum Honors).
5. Home equity interest rate discount: Interest rate reductions for home equity loans or lines of credit.
6. 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.
7. No fees on select everyday banking services: Fees waived for services 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 who do more business with the bank.
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.