Steve Boland, chairman out-of Shopping during the Bank away from The usa

Steve Boland, chairman out-of Shopping during the Bank away from The usa

Lender from America today introduced Balance Assist™, a revolutionary new solution that provides a low-cost way for clients to manage their short-term liquidity needs, borrowing only the amount they need, up to $500. Balance Assist is the latest offering in a comprehensive number of monetary selection and services designed to help clients bank confidently and improve their financial lives.

“Harmony Assist ‘s the current in an effective band of clear, easy-to-play with solutions to assist all of our customers budget, conserve, invest and you may obtain very carefully and confidently,” said D. “Some body want the advantage to reach monetary liberty and you will balances, as they are seeking easy, obvious selection and guidance to help them in the process.”

Bank out-of The usa website subscribers increases their monetary physical fitness from the setting-up an economy abuse, attempting to make its credit, and you may boosting the budgeting knowledge partly through this set of useful alternatives. Lead through the business’s honor-profitable electronic channels and knowledgeable fiscal experts, that it band of safe banking choice facilitate satisfy clients’ relaxed financial, offers and lending requires, and you will boasts:

  • Balance Assist – With this new short-term, low-cost loan, Bank of America clients can now borrow up to $500 (in increments of $100) for a $5 flat fee regardless of the amount advanced to their account. Repayments would be made in three equal monthly installments over a 90-day period. To learn more, review these more tool info and eligibility criteria. Borrowers must have been a Bank of America checking account client for at least one year. Balance Assist is scheduled to launch in select states by and in remaining states early next year.
  • SafeBalance™ – Today, more than 2 million website subscribers use this account, that is built to assist them to spend just the money it offer. That have SafeBalance, there aren’t any overdraft fees while the month-to-month maintenance percentage is actually waived to have eligible people in period of 24 or customers signed up for the Preferred Benefits program. Subscribers makes repayments having a debit cards otherwise digitally when subscribed to Zelle ® , cellular otherwise on line financial.
  • Keep the Alter ® – Produced from inside the 2005, Support the Changes is the first program of their kind so you can let readers create deals because of the automatically transferring free go from circular upwards debit credit transactions to the a savings account. Now, more six mil website subscribers fool around with Support the Alter. Over the past fifteen years, this method provides assisted clients lead over $15 million in excess switch to coupons profile.
  • Protected Card – This simple and you can easier mastercard will help website subscribers establish, bolster otherwise reconstruct the borrowing. Subscribers can use to own a merchant account which have a safety deposit away from $3 hundred. That have in control borrowing behavior, members is enhance their credit score and you may, over the years, may meet the requirements to own their cover deposit came back.
  • Affordable Home Loans – In early 2019, Bank of America launched its $5 billion Society Homeownership Connection, which has already helped nearly 13,000 low- and moderate-income homebuyers achieve homeownership through low down payment loans and down payment and closing cost grants.

Such choice and you may attributes are available from award-effective Lender off The usa Mobile Banking software and are generally backed by Erica, our very own electronic assistant

“I consistently create several innovative methods to let all of our customers reach strong financial ground,” said April Schneider, direct away from Individual and you will Small company Points on Bank off The usa. “Choices including Balance Assist, SafeBalance and Protected Credit help offer website subscribers with economic balances, and certainly will use them a route to extended-term monetary wellness.”

These solutions are built to encourage good financial habits, as are additional resources available through Most useful Money Models ® , our free financial education platform that provides a simple, accessible way to connect people to the tools and education they need to help take control of their finances. Since 2013, Better Money Habits content has been viewed more than 120 million times.

Bank of America

Financial of The united states is amongst the earth’s top financial institutions, providing personal users, small and center-field people and large providers which have a full variety of financial, using, house management or any other monetary and chance administration products. The business will bring unmatched convenience in the us, providing whenever 66 billion consumer and home business website subscribers that have just as much as cuatro,3 hundred retail financial centers, and additionally approximately step three,100 lending locations, 2,600 monetary centers that have a customers Financing Economic Possibilities Mentor and whenever 2,two hundred providers locations; around 16,900 ATMs; and you will honor-successful electronic financial with around 39 mil energetic users, including just as much as 29 mil cellular pages. Financial regarding America is a major international leader when you look at the wide range management, business and you may capital financial and you can change across the a general variety of asset classes, serving agencies, governments, establishments and individuals international. Financial out-of The united states also offers business-best service so you can everything step 3 mil home business house as a result of a beneficial collection from creative, easy-to-use on the internet products and services. The company suits clients because of businesses along side Us, the territories and just as much as 35 countries. Lender out-of The united states Company inventory (NYSE: BAC) is actually on the Ny Stock market.

For more Bank of America news, including dividend announcements and other important information, visit the Bank from The usa newsroom and create development email notice.

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