New Program Offers Small Business Clients
Wide-Ranging Benefits to Help Them Grow
Bank of America today launched Business Advantage Relationship
Rewards, a new program that rewards eligible small business clients
with an attractive suite of benefits and rewards that grow as their
Bank of America business deposit and/or Merrill Edge and Merrill
Lynch investment balances increase. The program is built on the
success of Bank of America Preferred Rewards, which launched in
2014 as the first and only consumer banking rewards program of its
kind offering clients benefits and rewards for their everyday
banking activities.
According to a recent Bank of America Small Business Owner
Report, 82 percent of entrepreneurs who receive rewards from
vendors and business partners say it increases their loyalty. As
the most comprehensive multi-product rewards program available in
the small business banking space, Business Advantage Relationship
Rewards provides clients with an opportunity to enjoy a more
rewarding business relationship with Bank of America.
“We created this new rewards program to show our 3.1 million
small business customers, as well as potential clients, how much we
value their business while providing them with a competitive
advantage,” said Sharon Miller, managing director, head of small
business at Bank of America. “Through Business Advantage
Relationship Rewards, we are committed to building strong,
long-term relationships with our clients through a wide range of
tangible benefits to help them grow their businesses and get more
back from their banking.”
Clients with an eligible Bank of America business checking
account, and a three-month average combined balance of $20,000 or
more in qualifying Bank of America business deposit accounts and/or
Merrill Edge or Merrill Lynch business investment accounts, can now
enroll in Business Advantage Relationships Rewards by visiting a
Bank of America financial center or calling 888.287.4637.
The program is structured into three tiers – Gold, Platinum and
Platinum Honors – with increasing benefits and rewards as a
client’s combined balances grow. Qualify with three-month average
combined balances of $20,000 for the Gold tier, $50,000 for the
Platinum tier, and $100,000 for the Platinum Honors tier. Benefits
include:
- Credit card rewards bonuses: 25
percent to 75 percent rewards bonus on the base earn for eligible
Bank of America Business Advantage credit cards
- No fees on select everyday banking
services: Waived fees on select banking services, including
inbound domestic wire transfers and stop payments
- Cash rewards on Bank of America
Merchant Services processing: 0.05 percent to 0.15 percent
rewards payment on monthly net processing
- Interest rate booster on Business
Advantage Savings: 5 percent to 20 percent interest rate boost
on Business Advantage Savings accounts
- Interest rate discounts on select
small business loans:
- 0.25 percent to 0.75 percent interest
rate discount on new Business Advantage credit lines, term loans
and secured lending
- 0.25 percent to 0.50 percent interest
rate discount on new Business Advantage auto loans
- 0.25 percent to 0.50 percent interest
rate discount on new Business Advantage commercial real estate
loans
- 0.25 percent to 0.35 percent interest
rate discount on new credit lines and term loans for Practice
Solutions clients
- Full-service payroll fee
refunds: Monthly payroll product service fee refunds of $10
to $20
- $01 online stock and
ETF trades2 (Platinum and Platinum Honors tier only):
Waived commission fee on up to 100 monthly Merrill Edge online
stock and ETF trades
- Priority client service: Access
to a dedicated team of specialists at a priority phone number, and
a complimentary Merrill Edge financial review
There is no fee to enroll in Business Advantage Relationship
Rewards. For more information on the program, including terms and
conditions, click here.
1 Eligibility: Commissions are only waived for online stock and
ETF trades conducted via an individual or jointly owned online
investing and trading personal CMA® or IRA account. MLPF&S
waives its commission fee for:
- 30 monthly online stock and ETF trades for Platinum tier
clients
- 100 monthly online stock and ETF trades for Platinum Honors
tier clients
For details about commissions, transaction fees and any other
fees that may apply, visit merrilledge.com/pricing. Certain account
types are not eligible. Other restrictions may apply. Relationship
requirements and pricing are subject to change and/or termination
without advance notice. For full details about ways to qualify for
$0 trades, call 888.MER.EDGE (888.637.3343) or visit
merrilledge.com/$0detail.
2 Other fees may apply. Sales are subject to a transaction fee
of between $0.01 and $0.03 per $1,000 of principal. There are costs
associated with owning ETFs. To learn more about Merrill Edge
pricing, visit merrilledge.com/pricing.
Bank of AmericaBank of America is one of the world's leading
financial institutions, serving individual consumers, small and
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
47 million consumer and small business relationships with
approximately 4,500 retail financial centers, approximately 16,000
ATMs, and award-winning digital banking with approximately 35
million active users, including approximately 24 million mobile
users. Bank of America is a global leader in wealth management,
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 all
50 states, the District of Columbia, the U.S. Virgin Islands,
Puerto Rico and more than 35 countries. Bank of America Corporation
stock (NYSE: BAC) is listed on the New York Stock Exchange.
For more Bank of America news, including dividend announcements
and other important information, visit the Bank of America
newsroom. Click here to register for news email alerts.
Bank of America and the Bank of America logo are registered
trademarks of the 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.
Trust and fiduciary services are provided by U.S. Trust, a
division of Bank of America, N.A., Member FDIC.
Bank of America Merrill Lynch is a marketing name for the
Retirement Services businesses of Bank of America Corporation.
Investment products:
Are Not FDIC Insured Are Not Bank
Guaranteed May Lose Value
Neither Merrill Lynch nor any of its affiliates or financial
advisors provide legal, tax or accounting advice. You should
consult your legal and/or tax advisors before making any financial
decisions.
www.bankofamerica.com
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version on businesswire.com: https://www.businesswire.com/news/home/20180326005605/en/
Reporters May Contact:Don Vecchiarello, Bank of America,
1.980.387.4899don.vecchiarello@bankofamerica.com
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